The aegis & intelligencer. [volume] (Bel Air, Md.) 1864-1923, 1899-12-22
ABOUT POUR MONEY!.

blle curly DutOLI oOteiOio ou'Ao CO - pio
lection against Indians and is there
fore called "Wall' street. Immense
buildings of granite, marble and iron
border the narrow street on both
sides, making it gloomy even at noon
day, and reminding the observer of
the canons which some of the West
tern rivers have cut deep into the
sandstone rocks of the mesas through
which they flow. These immense
buildings are tenanted entirely by
money changers and stock brokers
and spectators, save here and there
where glitters the golden sign of the
New York office of some great rail-
road or trust. The restless moving
throng which ever foams during the
business hours of each business day
in and out of these cliffs of masonry
and along the mario street need only
limited vocabulary and the pas5er-
by hears very few words except the
numerals and"cash. "'gold, ""stockS'
"bonds,' mortgages" margin
gain" and "per cent"
The confines of Wall street itself,
however, have proved too small for
these hordes of business" men, and
women, and so they have overrun a
district about four blocks long and
two blocks wide all of which is occu-
pied by the same class of people and
must be included in speaking OF
"Wall Street, as the great financial
district of New York. Wall street
controls the money of the country.
1t also controls Mark Hanna and,
through him, the rest of the Repub-
lican party.
A large majority of the men of Wall
Street are Republicans. Almost with,
out exception they voted for Mckin-
ley in 1896. They did this because
their control of the financial affairs Of
the United States was at stake and
they were assured by Hanna, McKin
ley and the rest of the Republican
leaders that Mckinley would be true
to the traditions of his party and
stand by the millionaires and trusts
as against the farmers and laborine
men. For a farmer or workingmar
would look very much out of place in
Wall Street, which, in fact has no use
for them except to raise crops fol
grist for it's mill, to dig in its mine,
and to build and run its railroads.
But Wall Street did more than tt
vote. 1t contributed to the Republi
can campaign fund millions of dollars
These millions OF dollars bought
million votes and intimidated a mil
lion more. Therefore Wall Street,
man, Mckinley, was elected.
And the sequels has proved tina
Wall Street knew its man and made
no mistake. For Mckinley, having
sold himself, body and soul, to the
money power of the country, changed
his words of silver first to a colder
silence and then to jewels of servility
of the genius of the Exchange. HI
has delivered the goods faithfully anG
exactly.
Mr.. Lyman J. Gage was made Sec
rotary of the Treasury. This was &C
cording to the bond, for Mr.. Gage i
great banker himself and he know
the views of bankers and thei
peculiar needs and desires. He ha
proved this.
In the middle of McKinley's admin
istration we were plunged into a wa
which might and should have beer
avoided by q little firm and wis,
diplomacy exerted at theIproper time
1t turned out afterward that the wa
was wanted 10y q clique of powerful
Wall Street spectators. AS soon al
their object--the acquisition OF Cuba
Puerto Rico and the Philippines-wai
attained, the war suddenly stopped
But the Government had been forced
to issue more bonds and to spent
hundreds of millions of dollars. Thes.
hundreds Of millions fed great army
contracts and, in connection with the
proceeds of a big crop Of wheat which
starvation abroad helped us to sell al
a good price, enabled Wall Street t.
start a great wave Of speculation
which it nicknamed PROSPERITY"
But the sweetest dream must have
an awakening and the widest de
bauch must have it's collapse. This
wave of speculation is now breaking
into froth ON the shore Of disaster
and the end is not yet. But through
all the troubles which beset Wal
Street Secretary Gage has nobly re
deemed the Administrations promise
to protect the money power at al
hazards.
Early last September signs Of
trouble began to manifest themselve,
there was not enough money in the
country for the purposes of business
let alone for a fever Of speculation
and Wall Street began to feel the
pinch. Mr.. Gage promptly came tc
its relief by paying the United States
bondholders their interest severa
weeks in advance. This helped mat
ters, but only for time.
In November the banks got down
below their lega! reserves and there
was again trouble in the air. Mr.
Gage promptly offered to buy $25,.
100000 of United States bonds at the
market price to supply Wall Street
with ready cash. 1t is true that he
paid ST. II for dollars worth OF bonds,
but that was none the worse for Wall
Street. But still the relief was only
temporary and Wall Street still want.
ed to speculate, Notwithstanding the
fact that speculation was the cause OF
the trouble. The trouble became
acute. and last Tuesday witnessed q
wild panic on the New York Stock
Exchange with money in demand at
1856 per cent. ard stock prices falling
in what threatened to be crush.
Exchanges ali over the country were
affected. The Wall Street banks, re-
gardless Of law, offered $1O,00O,00O of
their reserves to the SPECTATORS.
But they did this by authority, for
Mr.. Gage had again come to the res.