Omaha daily bee. (Omaha [Neb.]) 187?-1922, 1906-11-22
:AFHRSs FAITH Il GOLD STANDARD
Wants Mite Issuing junction Of National
Banks ENLARGED by Statutes,
.RA Of VIM CM LIN Y GONE FOREvEN
With Disappearance OF This Goes Also
Silver and Lreenbaok HereIeN
THREE HUNDRED ~vo-y MEN GATHER
Interesting Session Promised Today
when Convention Takes tn Dis
cussiOn of Asset Currency,
Led by Henry w. Yates.


Reafirming the nauonal faith IN the gold
Vtanoard as the sond basis of monetary
ana currency issues, Its demonstrated
stability. urging upon congress ana state
legislatures the enactment Of laws ade-
quateiy TO safeguard tho country's fiscal
interests, the importance of such reform
as viii enlarge the note issuing function
Of national banks by granting them the
right under well conceived and conserva-
tive restrictions which will insure safety
to the pubic and guard the banks against
misuse OF the power given; proclaiming
the permanent Disappearance Of the era OF
wildcat money as completely as that OF
tho irrcdeemable greenback and silver
heresy--with these utterance as among the
most important, James H. Eckles, pres-
dent of the Commercial National bank of
Chicago and comptroller of the currency
under President Cleveland. addressed the
Nebraska Bankers association yesterday
in its tenth annual convention at the Lyric
theatcr. The convention will close this
afternoon. Mr.. Eckles was the central
figure of the day and his speech was re-
ceived with profound effect. He dealt
at length with tho matter of currency
reform, pointing out the natiopal needs
IL pursued, will produce the best results.
Contest Comes This Afternoon.
Omaha is busy entertaining the sO
bankers in attendance at this convention.
Much interest is being shown in the de-
liberations of the convention and the at
tendance at the two sessions Wednesday
was large, not being confined to the bank
ers. Legislation for the betterment OF
conditions in tho banking world is the
chief subject and almost every address
I on the program touches on one phase or
another of It. The hight of the convon-
tion, II fight there is 60 be, will come this
forenoon, when a discussion OF "Asset
| Currency win follow the report OF Henry
w. Yates, chairman OF the committee on
national financial legislation The con-
dieting ideas on this subject have their
ardent champions,
1 While here Mr. Eokles was entertained AZ
the Omaha club beiRg the guest Of Pres-
dent Ltther Drake of the Mefeiisnts Ma
Z tionaI bank and Senator biiliard Mr.,
/ Eckles said he accepted the Invitation 10
/ speak at tfls convention because 1t seemed
I to him that both tine and place were
opportune for discussion Of the question
Of reform of the currency system.
No Doubt OF Geld standard.
| 81 think l am quite within the bounds Of
truth when I say that there nowhere exists
| serious differences as to the economic wis
dom and soundness Of maintaining as the
! fundamental basis for our monetary and
currency issues the gold standard OF
value" said Mr.. Eckles 1T is immAterial
so far as the present is concerned by what
( process of reasoning those who opposed
such a standard have brought themselves
to accept IL; the important fact is that II
is accepted and the error of the doctrines
and theories with which Al was opposed
has been cast aside and buried In the
grave with the hundreds OF other economic
heresies which have from time 10 time
been set up in opposition 10 the iumutable
and unvarying laws OF trade and commerce
THE elimination Of this fruitful source
of bitter discussion, personal reorimination
and party fury has carried with Il the de-
stroying element of political nias and par
tisan desire from all that which Affects the
treatment of monetary and banking prob
lens in the United States, and we can ap-
Tproach their solution upon the sounder
basis of merit, historic accuracy. scientific
truth and economic fact
"The currency question ought never 20 be
a partisan political one, and now least Of
all for the differences between contendinE
political hosts in the arena of public at
fairs turn on other things which appeal
more to partisan imagination and partisan
Icupidty."
! stiII Young and Great.
Mr.. EclSles still possesses that fresh.
youthful appearance which makes him look
more like q man of IS than one OF u years
and not the one who would be picked a.
lhead of one Of the biggest banking institu-
tions of tho country and Of the greatest
thinkers Of finance in the world. HIS pres.
ence at the convention was the source OF
great interest.
The first consideration Of the convention
was g sad one. After prayer had beer,
. offered by Dean Beecher OF Trinity ca
. dral, Henry W. Yates announced the death
OF Herman Kountze. and this threw q
, temporary gloom over the gathering OF
, bankers for many OF them had not heard
OF the death Alfred MilIard paid higl
tribute TO the character OF Mr.. Kountze
and requested the appointment OF a com
mittee 10 draft memorial resolutions. The
committee was appointed TO consist OF
Senator j. II. Millard, Luther Drake, II. W
Yates. v. b. Caldwell, ]. I. Tronery oi
Pawneo city Frank McGiverin OF Ere.
moat, p. L. Hall OF Lincoln and A. l.
Clarke OF Hastings.
Senator Millard welcomed the visiting
bankers in a short address, IN which ne
noted the rapid growth OF wealth in Ne.
braska since the dark days of 1883. wher
land and every commodity was a drug or
the market. He congratulated the bankers
that their paths are now leading through
such pleasant places
5. II. BurnhRm Responds.
s n. Burnham, president OF the Firs
! National bank Lincoln, responded {,
, Senator Milliard. He, too. flfeTred TO IN,
/ panic days and explained in a humorou,
1 way why six years In the s0's had passeC
without a convention being held by th,
: association. They were discussing Is to
and the pops had elected a legislature,
no said. Banks and bankers were az
discount; II was thought a disgrace 20 b,
. seen with a banker. ~ one OF two OF VI
% wanted 10 talk things over We sneake,
4 out after night and did Il. No convention,
r Tor Us then, Yet / realise that those sla
. years woro a most valuable asset in tn,
2 banker experience.
The secrotaTy's report showed a tota