Wheeling register. [volume] (Wheeling, W. Va.) 1878-1935, 1899-12-29

Emperor President McKinley's First
Lord of the Treasury, Lyman J. Gage,
emphatically denies that he will resign
his Office as head of the Treasury De-
partment to accept the presidency OF
the great Standard Oil bank, the Ma
tional City Bank of New York, selected
by the administration as the Imperial
Bank of the government, similar to the
Bank of England, and on the lines
OF the United States Bank, which "OlG
Hickory" Jackson smashed at the COM
mand of the American people
Mr. Case denies he will resign to ac-
cept the presidency of such an institu-
ton. But Mr.. Gage clearly lodges the
question. 1t has not been said, as the
Register understands it, that he would
resign for such a purpose. No, indeed,
his present Office is too good a vantage
point whence to accomplish and perfect
the establishment of an Imperial Bank,
or as it is said the institution will be
called, the National Bank of the Uni
ted States" or the United States Ma
tional Bank" The statement made IN
this connection was that Mr. Gage, after
the expiration Of his term of Office,
would become the head of such Imperial
Bank. And this Mr.. Gage does not
deny.
1t is said Mr.. Gage will get there by
easy stages so as not to affront his
eminent financial friends in Chicago,
who do not want him to go to New
York. So he will first accept an Office
with some Chicago bank, a connection
of the National City Bank of New
York, on his retirement from the Treas
ury and be transferred thence to the
Imperial New York bank as it's head.
Such an institution as it is proposed
to make of the National City Bank of
New York would be more than an
Imperial Bank. 1t would be a great
Money Trust. Associated in this con-
Germ are the Standard Oil multi mill
ionaires, John d. and William Rock
efeiler, James Stillman, the Rockefel-
lers' agent and present president of the
Institution, the Sugar Trust and a host
of other great multi-millionaires, such
as the Vanderbilts and MoTgans, and
the leading financiers of Wall street.
Why should not Secretary Gage, who
proposes to give the concern the Off
cial backing of the United States Treas
ury, become its head? Won't he richly
deserve it at the hands of his associ-
ates in the enterrrise?>
Already through Mr.. Cages favor
this bank is practically the fiscal finan-
cial representative OF the government
1t has acted as receiver of government
money from the Pacific railroads, as the
representative of the government in
the payment of s20,000,O00 to Spain, as
the favored national depository Of gov
eminent funds, controlling one-fifth of
all the government deposits in all the
banks Of the country, and has been des-
ignated disbursing agent for the gov
eminent internal revenue receipts
amounting to s1,O0O,O00 a day. Is it
a wonder the stock of this bank is now
worth over $4,000 a share? Is it a
wonder Mr. Gage is slated as its future
head?
Mr.. Gage is an eminent financier, he
will have been the chief instrument in
founding the new Imperial Bank and
why should he not on stepping out of
the Treasury Department step into the
presidency of the new National United
States Bank?" AS its founder and
cornerstone, who used his public office
and the public money to build it up,
would he not be its logical head?