The representative. [volume] (St. Paul, Minn.) 1893-1901, 1893-12-13
THE BANKING COMBINE.

THE BANKING COMBINE.
Through It's Clearing House Committee 10
Controls the Destinies Of the Nation.
Three men at one time ruled ancient
Rome. Three men, Jim Fisk, Bill
Tweed and Jay Gould, ruled New York
city and state. and robbed it right roy
ally as an incident to their ruling. Six
men now control the destiny of tho
United States Their names are Fred
erick Tappan, E. H. Perkins. Jr., j.
Edward simmons, Henry w. Cannon.
w. A. Nash and G G. Williams. They
are presidents of the Gallatin, Import
ers and Traders. Fourth National. Chase
National, Corn Exchange and Chemical
banks respectively.
Every day at II o'clock these men,
who constitute the clear ng house COM
mittee and the loan committee of the
clearing house association, of New York
city, meet and decide the general fnan-
cial policy of their tributary banks
Their authority is more powerful for
evil or for good than that of the gov
eminent at Washington, for they exer-
else not merely an absolute rule over
the banks directly associated but indi-
rectly they control all the financial
markets of this country.
Thus, very quietly. the people are
being ground to powder, for the CEN
trail idea of the clearing house gang is
the control of money both in kind and
volume. Short credits, absolutely I'M
der their oversight. are the rule. Thus
sword of Damocles hangs over the
head of every manufacturer and mer-
chant, for the banker can say who
shall have credit and who not. This is
the theory Of which the clearing house
is a condition; an inner circle, or
rather more exactly, "a secret head
center to which all associated banks
converge. 1t has, in fact, become
sort of bank trust. whose purpose is to
protect the banks that are in it and de-
stroy those that are out.
The agencies of Dun and Bradstreet
are its lackeys; the Pinkerton thugs it's
tools. No Spanish inquisition ever
pried more curiously into private lives
or kept accounts more closely of the
political, social and religious leanings
of men. To ruin Independent banks is
its mission. For instance, it crushed
the Capital National of Indianapolis,
an honest, or rather, to speak more
correctly, a solvent concern, while at
the same time it prolonged the exist
ence of the Indianapolis National,
which it knew to be criminally corrupt
and hopelessly bankrupt.
The panic of last summer, of which
CT; 1,o
was creation of this system.
A banker confidently admitted this
to me. They destroyed the business of
the country so that resulting distress
might force clamor on congress for
pre-arranged legislation. After squeez-
ing merchants, running farmers and
throwing thousands of workmen out
into the vagabondage of enforced and
artificial idleness, they had their daily
papers in every large city set up the
lying howl that public opinion de-
manded an unconditional repeal. That,
of course, was only the opening wedge
for proposition to issue more bonds.
What better proof of the fictitious
ness of the paniclSy condition produced
by these legalized pirates could be fur
nished than this one fact Just pub
lished.
Last year the associated banks of
New York only had a surplus of 81,
| 00O,0 900. Last week they had the snug
little surplus of $40, 600, 900; and yet &C
cording to Dun's review of November
10. during the last nine months of Mr..
| Cleveland's administration the loss to
the business world from failures of all
kinds has been 1885, 900, 900; more than
that, all values have declined In the
last week railroad stocks have gone
down 35 cents a share on an average
Trusts have fallen S125 per share and
corn, wheat and cotton have proper
tionately declined.
It is worth noting that, in this con-
nection, the heart of London has been
troubled with palpitation. One of the
most trusted officials of the Bank of
England has made that heart palpitate
to the tune of $4,000. 600, gone, as Jim
Fisk used to say, ''where the woodbine
twineth."
Now that silver has been put out of
the way, and the people are beginning
to understand the extraordinary ex-
tent and completeness of the financial
conspiracy to perpetuate Industrial
slavery by cornering money, is it not
the ripeness of time to demand an issue
of treasury notes? The sentiment of
congress-, even as at present constitut-
ed, is in favor of this. and the president
has used up his patronage and prob
ably, too, even the almost unparalleled
resources of his faculty of intimida-
ton. A long pull and strong pull,
and pull altogether, may send this
monetary monster, this Minotaur of
the White house, down into the dust of
defeat and disgrace where he belongs.
GEORGE F. WAsHBURN.
Boston, Mass.
THROW THE OTHER BUG OUT,
Let Us Jump Into the Wagon and All Take
D:~S-