Excerpt from Statement of Hon. James H. Eckels, Comptroller of the Currency, Made Before the Committee on Banking and Currency, House of Representatives, (at the Request of the Committee) On the Existing Financial and Banking Situation and the Proposed Remedies: January 28, February 1 2, 8, and 18, 1897 If these obligations should now be retired gradually, whether by fund ing or otherwise, it would be found wherever money was needed that either the banks would supply the necessary currency or else gold would come from other places where it was not needed to fill up any vacuum here. The practical truth in currency matters is that there never is a vacuum permitted to exist which ought to be filled, and where reasons exist why it ought to be filled, but that It is immediately filled. The needed amount for this purpose comes from places where there is too much money to be profitably employed. About the Publisher Forgotten Books publishes hundreds of thousands of rare and classic books. Find more at www.forgottenbooks.com This book is a reproduction of an important historical work. Forgotten Books uses state-of-the-art technology to digitally reconstruct the work, preserving the original format whilst repairing imperfections present in the aged copy. In rare cases, an imperfection in the original, such as a blemish or missing page, may be replicated in our edition. We do, however, repair the vast majority of imperfections successfully; any imperfections that remain are intentionally left to preserve the state of such historical works.