The Irish standard., 1897-09-11
AMERICAN SECURITIES.

One would imagine that in these days
OF prosperity" when European crops
are short and our wheat and other pro-
ducts are being exported at good prices
to feed the world we would have large
imports of gold from abroad. Such,
however. is not the case. The represen-
tatives of the European money syndi-
cate in Wall street know how to manip-
ulate matters SO as to keep the gold
away Instead of paying in gold for
American products the foreigners send
back the American securities which
hard times, and which they now unload
at advanced prices. They are practical
ly paying us back lin our own COIN and
keeping the gold in Europe. The gam
blers of Wall street know their business
thoroughly. They bid up the prices OF
American securities to give an oppor-
tunity to their foreign masters to dis
pose of the securities at a large profit.
1t would not answer their purpose to al
low gold to come to the United States.
They want this government to issue
bonds in which they can speculate to
advantage. The "modus operandi' of
the Wall street gang seems to be under
stood by the Minneapolis Tribune when
it says:
ut is estimated that the foreigners
have sold and returned at least $To,O00.-
600 of American securities during the
past few months, on which there must
have been a heavy profit. Thus the
United States as a whole is losing the
advantage which would naturally accrue
to it from the high price CT wheat and
ether foodstuffs which are being taken
in such large quantities abroad. The
balance OF trade in our favor is being
settled in chromos which our investors
have bid up against themselves.
At first the Wall street boom was en-
ginecred entirely by professional trad
ers. They expected that foreigners
would come in and purchase on ris-
ing market. But they did not. After
prices had been put up some $50 or $40
a share the American public did begin
to come into the market, and they are
now buying. The foreigners, according
to all accounts, are still selling. and
will continue to sell SO long as prices re-
main high. The probable and almost
inevitable result will be, that as soon as
the Wall street professionals and lin
siders" have unloaded on the American
public, prices will break. They will
want an opportunity to buy back their
stock at lower prices, and the lambs
will be left to pocket the losses. Prices
nay hc pu; somewhat higher. but peo-
pie who buy the securities at the present
quotations are running a great risk.
There is no telling what day the market
will turn. 1t is true that there is great
talk of increased earnings and improved
conditions have been sufficiently dis
counted for the present in the quota
tions. When prices break we expect to
see the foreign brethren buy their
stocks back at lower figures, and in this
way they will be able to pay for large
percentage CT their dear breadstuffs out
OF the profits squeezed from the inno-
cent American public through the ma
nipulations of the Wall street profess
sional spectators"
The Tribune hits the nail squarely on
the head. The so-caled American spec
ulators in Wall street. who so atlroitly
manipulate the prices Of American Sc
curities. are the agents of European
shylocks. and are foreigners to all in
tents and purposes They can by their
superior shrewdness pull the wool over
the eyes of the. Americans and control
their financial affairs.