The age-herald., 1901-10-18
.ECKELS GIVES HIS
 FINANCIAL VIEWS American Bankers Association
 Adjourns Sine Die TO REPEAL BANKRUPT ACT j. s. Davis Introduces Resolutions Re- citing That It's Further Operation
 VIII Entail Loss On Cred
 ltor and Debtor.
TO REPEAL BANKRUPT ACT

Milwaukee, October 1.-The closing days session of the American Bankers Association convention was devoted to a continuation of discussion of practical banking.
 After prayer by the Rev. J. Beverage Lee of Milwaukee, President Trowbridge introduced P. C. Kaufman of Tacoma. Wash, who spoke on '"The Financial and Commercial Future of the Pacific Coast" Walter D. Coles of St. Louis was the next speaker. His subject was the Bank ruptcy Law"
 James H. Eckels of Chicago, former comptroller of the currency. was intro duced at the conclusion of MT. Coles paper.
 Mir. EckeIs' Idea.
 MT. Eckels spoke on Assets Currency" He said he agreed with Secretary Gage that the financial system had not reached that point of development where a people of so much progress, so much energy and force as the people of the United States, have a right to expect that 1t should He would like to see legal tenders of the government retired, as there Is always a possibility of their re- issue in form detrimental to the coun- try. It stands as a menace to its com merce because 1t locks up the money. The sub-treasury should be conducted as is the business of private individual or large corporation. He would restrict revenue where the credit of the country could be maintained. He believed in great banks and a branch system of banks. We have an administration that commands the confidence of the people and admiration of the world, and there is no reason why we might not well dis cuss with frankness every public ques- tion
 A memorial on the death of President Mckinley was then presented and adopted
 Officers Elected.
 At the conclusion of MT. Eclxels speech the officers as reported by the nomina- tions committee were elected as follows: President Myron T. Herrick, Cleveland; Vice President Caldwell Hardy, Norfolk, Va; Chairman of the Executive Council, Frank G. Bigelow, Milwaukee,; Treas urer, George M. Reynolds, Chicago.
 Among the new members of the execu- tive council is F. H. Fries of North Caro- lima.
 The new executive council will prob aDly eject James Ii. Branch secretary.
 President Trowbridge on retiring was presented with a beautiful silver punch bowl by the members of the association. J. s. Davis of Georgia introduced the following resolution. which was referred to the executive council:
 Repeal Bankrupt Act.
 Whereas, The bankrupt act has had time to serve the purpose intended by Congress, to give relief to the honest, op- pressed debtor; and,
 Whereas, It's further operation will en- tail loss upon the creditor and debtor class and the general public, by reducing lines of credit and restricting business, thereby checking the wonderful develop ment of the country promised through right conditions; therefore be 1t
 Resolved, That this convention, through the executive council of the American Bankers Association, memorabilia Con gress to repeal the bankrupt law.
 Colonel Powers moved a continuance of the committee on internal revenue taxa ton. Referred.
 New Orleans and Memphis extended in vitations for the next convention, but the place of meeting will be chosen by the executive council at a meeting in New York next April