Rensselaer Republican, Volume 27, Number 21, Rensselaer, Jasper County, 23 January 1896 — AN INTERNATIONAL BANk. [ARTICLE]

AN INTERNATIONAL BANk.

Comptroller Eckels Speaks in Favor of a Great Projects The House Committee on Banking and Currency Monday considered the, project for an international American bank, which was one of the recommendations of the pan-American congress and was largely the idea of the late James G. Blaine. Among the would-be Incorporators' art Cornelius Bliss and Charles R. Flint, of New York; T. Jefferson Coolidge, Andrew

Carnegie, J. S. Clarkson, P. D. Armour and M. M. Estes, of California. The 'bill puts the capital stock at $5.000,000 and authorizes the bank to act as the financial agent of any government, .State or municipality or corporation, to handle bonds, etc., but bars it from issu-“ ing notes to circulate as money in the United States, Comptroller Eckels addressed the committee, stating that he favored the establishment of such a bank under proper restrictions. It would give to the United States, he said, cheaper exchange with South. Ameridhn republics and enable them to compete successfully with European merchants and manufacturers. All South American exchange is now handled through London and other European centers, and a small saving in exchange often determined who should do the business of the country. The International Bank, he thought, should not be permitted to isspe circulation in the United States, and it should not be given an advantage over other banks under government control in case it should decide to do all its business in the United States.