James H. Eckels

James Eckels
9th Comptroller of the Currency
In office
April 26, 1893 - December 31, 1897
PresidentGrover Cleveland
William McKinley
Preceded byA. Barton Hepburn
Succeeded byCharles G. Dawes
Personal details
Born(1858-11-22)November 22, 1858
DiedApril 14, 1907(1907-04-14) (aged 48)

James Herron Eckels (November 22, 1858 – April 14, 1907) was an American lawyer and businessman who served as Comptroller of the Currency from 1893 to 1897.

Early life and education

Eckels was born in Princeton, Illinois.[1] He was the son of James Starr Eckels and Margaret Herron Eckels (née Heron). He was the older brother of George Morris Eckels (a Chicago attorney who donated the titular "George Morris Eckels Collection of Cromwelliana" literature collection to the University of Chicago).[2] Eckels's father was an active member of the Democratic Party, and had moved to Princeton from the state of Pennsylvania.[2]

Eckels attended law school in Albany, New York.[1] During his time there, he crossed paths with New York state politician Grover Cleveland, whom he befriended.[1]

Early career

Eckels became an attorney,[3] and opened a legal practice in Ottowa, Illinois, in 1881.[1]

In 1891, Eckels joined the board of directors of the Commercial National Bank of Chicago.[1]

In 1892, Eckels campaigned for his friend Grover Cleveland's campaign to regain election to the American presidency. He delivered numerous well-received speeches supporting Cleveland's platform for tariff reform.[1]

Comptroller of the Currency (1893–1897)

Eckels was appointed comptroller of the currency by his friend Grover Cleveland, after Cleveland became president for a second non-consecutive term. This appointment broke a precedent that only those with previous banking experience could serve as Comptroller. Eckels, a 35-year-old lawyer, lacked no direct baking experience.[1][3] While some senators objected to the nominations, Eckels was confirmed by the U.S. Senate in no small part due to public backing of his nomination by former comptroller Edward S. Lacey.[1]

A month after Eckels took office, the country plunged into the Panic of 1893. His efforts to restore confidence in the national banking system played an important role in bringing back the economic health of the nation.[3] Eckels managed to negotiate the re-opening of 115 of the 165 national that had closed at the start of the panic, and managed to guide them through the criss.[1]

Dissatisfied with the nomination of William Jennings Bryan at the 1896 Democratic National Convention, Eckels was an Illinois delegate to the 1896 National Democratic National Convention (a splinter convention).[4]

Eckels resigned in 1897.[1]

President of Commercial National Bank of Chicago

On January 1, 1898,[1] Eckels became president of the Commercial National Bank of Chicago.[3][1] The bank had been courting him for months prior to his departure from the federal government to take the position. Eckels's positive national reputation greatly aided the bank's success. In his first two years at the banks, deposits increased from $9 million to more than $19 million. By 1900, the bank was among Chicago's leading financial institutions, outranked only by First National Bank of Chicago and Continental National Bank of Chicago.[1]

In the early 1900s, Eckels commissioned a new headquarters for the bank. The bank ultimately opened two weeks after his death.[1]

Eckels died on April 14, 1907, of a heart attack in his sleep.[5]

References

  1. 1 2 3 4 5 6 7 8 9 10 11 12 13 14 "Landmark Designation Report; Commercial National Bank Building; 125 S. Clark Street" (PDF). City of Chicago. April 7, 2016. Retrieved July 31, 2026.
  2. 1 2 "Guide to the Virginia Eckels Malone Family Papers 1854-1974". University of Chicago Library. Retrieved July 31, 2026.
  3. 1 2 3 4 "James H. Eckels. 9th Comptroller of the Currency". occ.gov. Retrieved March 31, 2023.
  4. ↑ "Delegates Leave for Indianapolis; Interest in the Convention". The Chicago Chronicle. August 30, 1896. p. 2. Retrieved July 31, 2026 – via Newspapers.com.
  5. ↑ James H. Eckels Dies in Slumber," Chicago Daily Tribune, April 15, 1907, page 1

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