Show ECKELS CATECHISED BEFORE TE BAT AND CTTRENCY COMMITTEE Currency Should Be Uniform and All of It Issued Under Government Govern-ment Supervision Not a Believer I Divided Authority Washington Feb Comptroller Eckels was before the house banking and currency committee again today when the general banking bill introduced intro-duced bv Mr Fowler Rep N J was taken UP Mr Fowler asked Mr Eckels if a credit currency based on the assets of banks was not the only correct form of paper money Mr Eckels thought this a proper form The currency should be uniform all of it being issued under govern ment supervision He thought the benefits to be derived by the repeal of the 10 per cent tax on state banks to be greatly exaggerated by the supporters sup-porters of this proposition Mr Fowler asked if he thought that all banks under this bill having power to take out currency equal to bonds held by them with a low ta on their circulation and the right to issue credit currency would organize Mr Eckels replied that ne could not say The banks would do what would allow them to make the most money If they thought it would pay they would take advantage of I Replying to a further question he said he thought it advisable to take the financial question out of politics Mr Fowler asked if the witness did not think that the supervision of our great financial Interests should be left to a consulting board rather than to one individual Mr Eckels replied he had no objection objec-tion to allowing the officer in charge of our finances to consult others but he authority was not a great believer in divided |