The Hocking sentinel. [volume] (Logan, Ohio) 1871-1906, 1902-10-30
HELPING THE BULLS.
Pouring the Treasury Surplus
JptQ Wall Street,


AD11llgT1AfI0I AIDS GAxBLERl
qeeretasy - the TFeessry QvessseD,
the Law anA HasAs The Peeplsi
Money 0ver 70 the BANKS Withsu,
Safeguards - Favers That Cone
Clese to Danger line.
This is an era of great nnanciers
Millions are banded as thousands wert
but few years ago. We have the ex
tracrdinary spectacle Of a corporation
the steel trust. with over $1,000. .000. .O0(
of capital What q stupendous sum-
more than the ransom Of q klngdoml
Great inanciers spring mp like mush-
rooms In night. and We are astound.
ID ct their audacity and impudeqce.
With these amateur financial princes
p control Of Wall street. doing desper.
ate deeds to maintain their ascendency.
and others trying to drag them down
and gobble their gains, d It any won
der that panics and rumors Of panics
pre- not only dreaded. but possiblel
In such perilous times . wise and
conservative management Of the Unit
I'd States treasury is needed to protect
the interests Of the government and the
people
It was never intended by congress
when Il enacted the laws for the gov
eminent 81 the United States treasury
that the whole Of the power vested In
the secretary II the treasury, should
be strained to help either faction Of
the Wan street gambler. And yet that
+ just what has been done. The pres
elt seoretaEy Of the treasury has ex-
ceeded the plain letter Of the law In
polgteFing up the totterins bull cam
paign that Tss on the verge Of col
hpee The whole power Of this Repub-
ncan administration has been thrown
n the scale to aid the trust magnates,
for Secretary Shaw stated that Presi-
dant Roosevelt approved Of his &C
tioQ&
""a' ".s ne oone! ne announced
tnat hereafter banks Will not be re-
auired to carry q reserve against gov.
eminent deposits. What does this
mean? The banks now bold In round
Plumbers $l3O.OO0O0O Of government
money. upou which thew nav M inter.
eet. and have held an AVERAGE NJ sion.
100000 for over. fonr wear. vbicb r..
hand tn them Inv forme.- eecr.t.r,.. -
the treasurv Araipst tb,. The mi. =.
cuired the hanks to Keen ! reeerve az q
per cent or al,out sa0 On 00O rhi. n.
serve rule ha. been wined ont nv g..
retsrv Rh.v vho h.nr.n.d - \. :,
WaII sfreet n an onnortune finn. ana
the bank. can now loan the wan .tr..t
eamblers the Whole sIao 00o o00 Wiz
money brin.,ne a0 ~ c.rt IN w.n
etreet tn. ~. an .cormon. .av.r
tsve fo the .hnl,, -
Rut that -. M an n.
~,nt.d ~ th. h.rte-. h, c.,-.ss-
ah.v vsth ~. c..r,,..,o,, :, p-..,s....
Roo..v.st .no-.d tho.. h..s. g..
vece nn.hIe IN Obtain .ov.-,m.nt
rond. :. .ecr,,tv ec, 81. ucr.. ,o.n.S
them bv the cove,rment - ,.s - rI.ca
of ,h. ..,,. r,rri,,r.I tcna. 90 s.s..
=. .re ,r.6. .,.u. ~. hv ts.
lavn of the several st.tes for ..v,rs.
banks Under this ruIinp the secre.
knrv being the so,e tudce- of the 40.
curstv he WIN accent even trust .toct
NAV he accented
The ciause In the e,rru,.r ,.sued hv
The trea urv denartment Sent s0 er.
blaming this new ru,,no sov..
.srbe den,rtment b,. dac,ded IN ~.
le.ee for inch hsnk. =. h.r. deno.,t.
md are mt m.,nt.,n,n, t,,es, un,;, -
rsrruI.t,on . nort,oD ~ ~. hord. no-
beld nv the Government t.t,n, IN I,a,,
ther.of other ..t,.f.ctorv .sc,,r,tv IN
,ond,tion .Iw.,. thot tha to,d. ~
eeeed rim be n.ed sor the ,mma.,;at.
..ne M .dd,t,on.I c,rcuI,t,on"
THIS action of the .ecret.rv IN .,v,r.
.he.. =. ,or. to th. tine, ,r..r.,e. h..
e6 IN : .torm M nrofa.t. from . n nort.
= th. countrv .. NAV n. ,.ar s-o,.
n. so,,ow,n1 .,..,.I a,sr.trh ,,o,,
W..b;n,,oc - ~. Ch,c.1o Ch-on;o,..
sIt !. Ala th.t ths .nnou,comer, =,
~, n,.n 80 a. :, h.S 1900 .no,,
.to-m =, snd,,no,t 80 n,o.n-,s tho, go .ha
even If he had previously