The progressive farmer. [volume] (Winston, N.C.) 1886-1904, 1896-03-24

! loans CastIng their shadows on Trim
ity when the morning sun rlees N the
| east stand the great Office buildings,
running over twenty stories IN height
/ in some cases, IN which some Of the
| great trust companies and banks have
invested portions of their enormous
surplus and IN which they have their
homes.
Directly in front of Trinity's bronze
pnrtals-Che gift OF an AstOr-0pens
WalIstreet proper, q narrow, asphalCed
GhOrOug1fare, lees than L third Of q
mile long and banked on corner side
with massive stone structures sHme of
great height. Oue of these IS Jhe Sock
Exchange, which also has g rance on
Broad street and New street, q block or
two OF which streets nay DC Included
in the Wall street di ,UrIct, as can a
block or two OF Nassau street, where a
! large number of the ricGeaG banks and
trust companies in the land have Their
| headquarters
JUS across from the New street en-
trace to the Stock Exchange stands
| the Consolidated EX h4nge. where a
| stock gambling game OF the came
! character Is carried on. but on q rather
! smaller scale. Within e4sy guns1Oc
OF both, were it ! OF for the obstruction
that the buildings Cffar, are the Pro
ouoe Exchange snd the Cotton Ex
| change, where the products OF the
! country, representing the toll of MT
| lions # farmers and oEhtr wOre ers, are
! toss 4 up or down II price according
| to the WhImS OT interests o. tbs ETeeuy
! gamblers
! Strange TO say. the most insignificant
! Of al; the structures on Wall street
proper-or at leGsg the lowest and one
which would be the most insignificant
we're II not for it's massIveness-lB the
Sub Treasury Of the United States, at
Wall and Broad streets. In front Of
II stands the brOI 70 figure q Wash
IrgtCn, on the very spot where he took
tho oath of office when sworn i'll as the
first President Of the United States.
just across the way I5 the Office of
NJ 'rgan & Co. The Ctfice Of the Sugar
Trust * down the street q few hundred
feet, Just beyond the Custom House
In the immediate vicinity of the Sub
Treasury are 70 be found the offices of
the largest private banking houses Of
this country, the repre- sautatives of the
foreign houses and the headquarters of
the bullion dealers.
s. much by way Of e~Xplanati n as to
localities. l propose now brit fly to
outline the methods by VII Oh the mIl-
lions Of GOllers throughout his country
ere laid under tribute, and their earn
lnes absorbed by this devil fish gener
ally known as Wall street,
1t has been said that If any thing is
more tImId than 81 coo 900 1t is s.. 600.
OCO Sad experiences has ehOwn that
If there Ia anything mOr greedy and
U~yra2niC8l. more lnsatiate n rPmOrPe-
less than $50 600, 900 it Is 800 600, coo.
Enough IS an unknown word IN the
vocabulary of those who own this much
cap tRl Their cry is More! Even
mOre!'
The great . wer and Influence of
Wall street, which has doubled and
qu4drupled and become more and more
appalling, was laid during the war,
when by the establishment Of the
national banks and the control OF legi5
lation IN their interest, together with
the spCculatiOns in gold and national
securities, a few hundred men utterly
lacking in patriotism and without any
regard for the public welfare, seized
the COVE nmCnt by the throat auG
threatened it with bankruptcy and
paralysis if their demands were not
granted.
+ lOrmous fortunes multiplied. The
owner Of q million soon found himself
possessed Of many millions. Money
Ored money by reason of the violent
fluctuations in the national credit as
the fortunes OF war changed on the
battle fields of the South.
The greenbacks, which were the sal
walton of the Union, were RpeCulated
in daily. The National Treasury, I'm
der stress of war, was forced to ex
change bonds for them, and Rs soon as
the war terminated the schemers set
about securing legislation u rider the
pretense Of strengthening the public
credit, looking to the payment of the
bonds in coin.
This did not satisfy them, however.
In a brief time the demonstration OF
silver followed, and ever since the fell
purpose of those who have C]Onspired
together has been to force payment in
gold.
Tne national banks have received in
terest from the government on the
bonds. Tney have received interest
from the people on the totes issued as
representative of the bonds Thus the
industries of the country have been
laid under double tribute.
The banking business of New York
is concentrated 10 the New York Clear
ing House, which is simply a trades
ullOu VI oil GA6 OduhSS ohu hdS pGA6
tial quarters within q stones throw Of
Wall street. These sixty six banks
baveeggregate capital of about SOL ,O00,-
600 and in addition have a surplus of
accumulated profits OF $73 000, 900
They hold on deposit from customers
about $500, 600, 900. They have loaned
out at interest about $3.50, coo 900
Tneir cash on hand CONSISTS of about
s64 600 600 in gold and $87 600, 600 IN
paper money. Their holdings OF SILVER