The Houston daily post. [volume] (Houston, Tex.) 1886-1903, 1902-09-11
ItnancioG IoecanC.
tFrom the comrnoner.)

iFrom the Eommoucr.l
In isst weeks Commoner attention was
called 70 Mr.. wcllmaHs report of an inter
view with a cablBct officer. now known 10
be serretary Shaw. Il rs putting Il mildly
10 cay that the Interview has created pro
found impression. but the Impression is not
c1aciiy the Kind that was Intended The
evident purpose q the interview was 60
frightcn tanG reform republicans by the
threat n a psulr. but tho facts given have
startled the country, Secretary shaw
shows that even with an unexpected So.
crease Of S5oOO0oOp0 10 the circulation the
farmers deposits have 10 be loaned over
and over nraln to furnish basis Tor the
Boosted prosperity. According 10 Mr. Well
msu, Secretary shaw says:
LET me give you some facts without
comment you 20 out 10 the farmers aud
asS them how they are getting an. They
VIII ten you inst they were ueyer before
20 prosperous. They are out OF debt and
have plepty 81 money. Ask them where
tkcir money S. and they VIII tell you lt IS
banks ard inquire into their condition. and
their officers viii tell you they are OIL
right Money pleutful ana seseryee above
80 peg cent. where "a your money! oh
Il IS In the banss Of omaha. Minneapolis
Ksnsss City. etc
Next you 20 to the bankers in Omaha
Kansas City and Minneapolis, ana they WILL
ten you the same thipg, They are ~ good
shape. reserves IS per cent. Where 80
your MnBeyT In Chicago NOW 10 10 Chit.
cage. same story. Banks all right. Re
serves 30 per cent. But the money Is 10
Finally. pursuing your inquiries IN New
York, you VIII 9ud that both deposits and
loans bsve been enormous The mpney &c
rot n the banks There are onY six Ma
iioaal banks in New York that have not
been below their legal referve6 since Jan
vary ion want 20 know wBere this
money iEi Wen S41O0On.0u 81 loauod hy
National banks on the honGs ~ indmsthA
corporation These corporations issued
hoBds iuBtcad N stocks hecauEe the M.
tiunal banks can take the former and can't
take the latter ln1rlnsicalig they are no
better than stocks. in most ~ them there
has been @ GOT of water-cuHnE Here you
see where S450ooo.Wo q the rnuutrys eur
plus stauds against ioi Of undlErs.ed. pro
motion. produced securities Tho trust com
same way
'IhBt Is where w stand II IA III rizht
20 long az ~ g ali right But I 1on't want
20 eee anythinE happen. J don't want TO
see these industri#ls heEin % t0ppie over
70 fan against one another and come uoWu
N heap Ike children pluypiorks- Aud
ihis Is one reason why sm opposed 10 q
tsnn revision agitation that pight start
things golng the wrong way"
What win the depnsitors thlnk of the
pF0specti what will re the Natural eject
~ the HugEesticn that any attempt 70
compel honest buslncgs methods VIII pfeclpi.
tate a puulc aud cause failure of the
bankal II the depositors begin TO draw
their money ont u the local hanks and the
country hanks hegin to reduce their city
reserves to a minimum. Secrstary shaw viii
b. more 10 blame than any one else. u
any democrat bad reflected half as seriously
upon the dpanctsi standing n tlie banks he
would have been denoln-ed as an altiiuet
and accused n having p grnlge against
the bnnkE. but Secretary shay = 81 fhe
head of fae treasury Department rnd Il
BOTH in ciose touch and Ia s1lI eynpsthv
Win The fnauciefh Nhcn he declares that
we are doing business % TOP ~ a anaaciai
ToicnBo-a regular Muut rciFs-his state
meut nusi b. taken as reluctant admia
Sion of condition 1hnt be would hare Knd
~ foucesled
This it republican prosperity, And 70
uhat Wii republicans sttriisne tho prtca
ricus rcnditinnT Does prltnetirs tarin
puf me country 90 position wterc gross
injustice end high handed ettorflon mus.
~ meekiy submitted 20 AZ the alternative
~ q paniet n 50, who eaH defead pro
icctlse tsriui
! NoeP the irugt system render toe people
hrlplrss AID make them imnoteat 10 pro
test uEainu Hsiefrd ftock ana hrtl,ious
capitalization n ~, who can defend ihe
Z trust sYscn1
Does the geld STANDARD supply such nn
insufaAeni qpaniits ~ money that the rc.
SERVES must 30 losue8 sna reioaoea until
cur banking insfiiutieos resemble the hiorks
( 10 caiids play hoassi II -. who NAl
( say that " uua accept the gold stanibrd
~ bnsi crtileufiH 81 ne nnaneiai oafs-
floni " JslF 81 one crndiiion * aur hants.
vim Wiil advncrir an gsri currency ~ sty
ossi iant hat l. better Than greer
bart3
fhe rcpeblleau rsrig kss 40 - eggs ia
one basket eud thai hnske s. mararl
prosperity Whep ihat argument fslls
ne iailure nil - cayppiac
rie' well euonrh slime = me cry. hut
FFerrirry shaw ssys that 4 " nos well
enough he faevs that ,he Ntuasios - a.
pfriicps that AZ sxiisfien faf isna reform.
efrn iacasb i ~ unsuccessful. wpuia riin
iss eVsatfy' sassg sAs Psgals an ne,