Show AS ECKELS SEES IT t Looks for a Revival of Business in This Country Upon a Stable Basis I NEW YORK Nov 9The Herald this morning prints the following telegram tele-gram from Comptroller of the Cur 1 rency Eckels Washington Nov 8 1896 The liquidation of the last three years has prepared the way for a revival re-vival of business in this country upon a basis which ought to Insure stability and continuance The Immediate effect of the defeat of the free sliver propaganda propa-ganda Is seen in the suggestions everywhere every-where made of preparation forinew undertakings un-dertakings and l restarting of old ones Undoubtedly some of these H fall off but the general tone of hopefulness will continue and investors will invest in those things which clearly promise a return of profit on the Investment I do not believe speculative enterprises enter-prises will succeed for a long time to come A great amount of money will come out of hoarding but it wH be used cautiously The favorable conditions for the people aside from the settlement of the money question rests in the abundant crops here and the shqijtage W where the reduction in the stock of manufactured manufac-tured products arid the fact that expenses ex-penses have been brought to a minimum mini-mum in every line of business The banks have since 1893 been changing off bad and better securing doubtful paper and they will be able to speedily loan out such sums as busi ness1 men need Already depositors are returning to such an extent that prospects pros-pects of a strong showing under the I next bank call are very flattering I With the restoration of confidence now manifest in our determination to maintain the single gold standard of I value and the rehaljllhnent of American Amer-ican credit there is reajson to Relieve much foreign capital wil1 come here i I do not see either why the banks I ought not to resume the furnishing of any gold need d in business transactions transac-tions a thing they did without Injury to themselves until the passage of the Sherman act in 1890 A great opportunity is presented to the country of entering upon a long period of prosperity I ought not to be frittered away through unnecessary tariff or currency legislation All tariff tar-iff legislation should be based if b3sd upon remedying any patent defect In the present law and not geperal in its tope while the currency suggestions should be with a view to bring about the gradual retirement of legal tenders and the improvement of the noteissuing powers of the national banks I believe the national banks should issue all the paper currency of the country and with this power given they should be obliged to redeem the same in gold This they could readily do i the legal tenders were removed and they were completely freed from further silver agitation I have no doubt that under such circumstances they would be willing to undertake it < JAMES H ECKELS Comptroller of 4 the Currency |