The Goodland republic. [volume] (Goodland, Kan.) 1891-1907, 1902-10-03
Gontmoner Comment.
Extracts from ". }. Bryan's Pepper.
WHAT MORE MONEY!

AT this time when the advocates OF
the single gold standard are assuring
US that the money question is dead, il
IS interesting TO observe the efforts
on the part Of the secretary Of the
treasury TO avoid a money famine
Recently il was announced from
Washington that Mr.. Shaw had a plan
70 relieve the money market in the
event Of a possible stringency." His
plan was 20 persuade the national
bankers to increase their issue Of bank
notes Mr.. Shaw evidently found some
difficulty in accomplishing the desired
result, but recent dispatches announce
that he is cOngratulating himself On
the fact that he has persuaded certain
national banks 70 take out notes az
gregating $500. 600.
In his now famous interview, print
ed in the Chicago RecOrd-Herald. Mr..
Shaw protested against any agitation
Of the tariff question He printed out
that all the money Of the country was
locked up in water-cUred concerns. and
he said he didn't want anything TO
happen Something certainly would
happen in the event Of an agitation for
a radical revision of the tariff under
conditions which he described in a way
TO show that there is not even today
money enough with which to do the
business Of the country.
Commenting upon Secretary Shaw's
plan to relieve the money market. the
Columbus co. Press makes this print
ed comment:
Bank notes are predicated on
bonds. which are an Understanding
burden upon the people. If the guam
titative theory Of money is the sOlu-
ton for financial stringency why can
A. Ts.-E -
opening the minis for the manufacture
Of nOn-interest bearing money instead
of starting the printing presses to
stamp more mortgage currency for the
people to use in their business deal
ings2 Why not open the minis that
will open the mines for the production
Of one Of our coins Of commerce, one
Of our own products as Mckinley said
at Toledo ten years ago2
open mines and open minis mean
more employment, more machinery,
more manufacture, more business and
more money. Open mines and open
minis will adjust finances on the guam
titatiye plan in the event Of financial
stringency.
And still the fiction goes the round
that the money question is settled
and some democrats are foolish enough
to believe IL. -
.tn$syOsitufybu: ddegO inmy. skaell5 a
The United States Banking corpora
ton. with a capital Of six millions and
headquarters in New York, is inviting
subscription TO its stock and in doing
50 gives an outline Of its plan Of Oper-
atiOns- According to the prospectus il
is the present intention OF the cor
pOratiOn TO Organize a trust COM
pany in forty cities" 1t viii be posi-
bic, It adds, Ito extend the operation
Of the United States Banking cOrpOr-
alton TO more than one hundred cities
and towns Of Importance whenever il
is deemed desirable" The corporation
will acquire existing trust companies
by purchasing a controlling interest
unless it finds it more profitable to
organize a new company.
A reader Of The COmmOner sends
the prospectus in, and asks If il is the
first fruit of the scheme embodied in
the Fowler bill. No; the Fowler biIl
has not yet become a law. and when
il does become a law its adoption viii
be signaled by the formation Of a ma
tiOnal bank trust, built upon the plan
followed by the United States Bank,
which after a tremendous struggle,
was OverthrOwn in the days Of Jack
SON
The Bankers corporation above re-
ferred to is more like the merger"
companies which are organized for the
purpose Of controlling other corpora
tons The plan is a very simple one.
A group Of financiers, in order to con-
troll a corporation having a capital Of
one million. must own more than half
Of the stock, or a little more than
100000 WORTH To control ten cor
poratiOns having a capital Of one mil
lion each would, therefore, require a
little more than five million dollars
Cif the stock was at par.) A merger
company, however, can be organized
with a capital Of a little more than
five millions, and this merger com
pany can then control a majority Of
the stock in each Of ten corporations.
but the group Of financiers desiring
to manipulate these corporations
would only have to control a little
more than half Of the capital stock
Of the merger company-that is, a lit
tie more than two millions and a
half 1t will thus be seen that a cor
pOratiOn organized to purchase stock
in other corporations is merely an in
direct method Of doubling the inf1u-
ence Of a given amount Of capital If
ten merger companies were organized
then a new merger company was or
gained 70 control a majority Of the
stock Of the ten, the influence of a
given amount Of capital could be dOu-
bled again, and so on indefinitely.
1t seems necessary for the evils Of
this system Of inanciering TO be shown
by actual experience 1t is difficult to
ward on danger because so many peo-
pie are Indifferent to the operation Of
a vicious principle until they are ac-
tually hurt bp it But while the pub
lie can not easily be aroused in ad-
vance, il is always quick to respond
when IL feels the effect Of bad princi-
pies put into practice and, in time,
applies a remedy. II there were more
foresight there would be less suffering.
safsZtingObb dysiolceEsib1irovn aoin
Mr. Boardman defends the water
cure on the ground that the FIlfpinos
lied What, then, should be done with
war department officials who also de-
MED the torture when oncfaI reports
proved its eXistence2
Tariff reform viii not be secured
through the efforts Of men Who siren
uOusly insist that there is no need OF