New Iberia enterprise. (New Iberia, La.) 1885-1902, 1899-12-30
THE POWER OF BANKS FOR EVIL

Let those who decry the power
of banks for evil look to Wall
, Street. Within the past month
the Standard Oil Company, con-
trolling the City National Bank
the United Trust Company and the
Farmers Loan and Trust Company,
and aided and abetted by other
banking interests to the extent of
almost $4,000, 100000, has depre-
ciated property values to the extent
of $4,000, 900 and has caused fail
ures aggregating as much more.
1t has brought the country to the
verge of a disastrous panic and has
caused tremendous falling off in
trade
In this gigantic and almost in
conceivable assault upon the cOun-
try's prosperity the Standard Oil
Trust has been openly aided by the
Republican Administration at
Washington, which has placed it.
self squarely behind the Standard
Oil Campany and the stock market.
In doing this it has enabled the
Oil Trust to bring disaster upon
the country and to wreak financial
murder upon two men who had in
Cured its enmity.
Anthony N. Brady had refused
to sell the New Amsterdam Gas
Company to Rockefeller and thus
enable the moneyCzar to form
gas trust in this city. A. Z. Bige-
low, of Boston, had refused to sell
the Boston and Montana Mining
Company to Rockefeller, that the
Oil Trust might control copper.
With the allied force of two bill
lion dollars behind him, Rockefeller
began the work of deliberately
bringing on panic, that he might
feel the glory of revenge and the
satisfaction of saying to Brady and
Bigelow, "Give me your property
at my price"
The Oil Trust began to tighten
the money market through the City
National Bank. In ordinary times
the market would have sagged
gradually and investors would have
had time to cover.
1t was therefore necessary to give
the market firm tone, while the
undermining process was continued.
Mr., J. Pierpont Morgan visited
washington. The Treasury. De.
partment fell readily into the
scheme.
Secretary Gage offered to buy
$25, 100000 of Government bonds,
of the five per cents of 1904 and
the four per cents of 1907.
This offer served its purpose. It
restored public confidence and en-
abled the Standard Oil Company to
continue it's work. When the bonds
were not readily offered-being in
possession of the Trust-money
again scared skyward.
When interest reached 1856 per
cent and prices tumbled, and six
banks failed and Brady and Bige-
low were swallowed, Rockefeller
and Morgan generously came to the
front and "rescued the country
from disastrous panic" Noble
philanthropists.
Here are set forth the tactics Of
the trusts which the Republican
party believes in and which the
Republican Administration aids and
abets.
To cap the whole climax of col
lusion, the Government now desig-
mates Rockefeller's City National
Bank as the institution to receive
and disburse Federal money.
If the Government is going into
the banking business it would be
better either to establish it's own
banks or to make some arrange
ment for interest.
In Ohio Governor Roosevelt,
speaking for the Republican party,
said: Corporations = for what
we commonly call trusts are mere
ly big corporations-render great
service and are indispensable in
struments of industry IN. Y.
Journal.
CataTrH Cannot be Cured
with LOCAL APPLICATIONS, as they
cannot reach the seat of the disease. Ca
tarrh is q blood or constitutional disease,
and in order to cure It you must take in