St. Johnsbury Caledonian. [volume] (St. Johnsbury, Vt.) 1867-1919, 1903-12-02
COLONEL MONROE'S DOCTRINE
The Lncolnvi Philosopher Discusses the Popular Elec.
ton of United States Senators
BY FREDERICK UPHAM HDAMS
BY FREDERICK uPHAM .HDAMs
Copyright 1sOs by Frederick Upham Adams


and bankers reverence which takes
the form of abject fear, the other be-
lieves that all bankers are In a con-
spiracy to corral the wealth of the ma
ton and incidentally to suppress all
| discussion Of their methods. This lat
ter class has conjured up a monster
called the money power an argus
eyed dragon whose Dionysian ears
catch every whisper of protest and
whose clutch means financial death.
This tabled creature has inspired
public cowardice and servility which
are astounding. The ancients had an
unpropitious god SO sacred and dreaded
that to mention his name meant death.
We have preachers, statesmen and even
editors who have grown so timid that
they dare not write bank or railroad
without mentally crossing themselves"
"There is truth in what you say" ad-
mitted Judge Sawyer. "As plain old
fashioned Democrat l do not like to be
the object of this unconscious servility.
A banker is nothing more or less than
a money merchant, and should WELD no
more power nor be accorded higher
standing than any other business man.
II there be money or trust conspiracy
your average banker, be he of the city
or of the country, is no part of it. If
u ha MI
an economic development the small
banker should be the first to protest.
If the great city banks succeed, as they
probably will, in passing law author
izing branch banks they will force ev-
cry country bank into liquidation"
There is no reason why the small
bank should not 60 the way of all
small undertakings" said Colonel Mon
roe. "The small railroads, the small
factories and the small markets have
been merged into huge corporations
called trusts. Why should the small
banks escape? We are witnesses to a
stupendous industrial and financial rev.
olution, and the unthinking ones cry
conspiracy, while towards dread to
contemplate, much less discuss, a per-
fectly natural phenomenon. There Is a
popular belief that a score or more of
years ago number Of inspired men
originated plot which has brought
about-the existing combinations. They
accord to the men who are at the head
of these vast organizations credit for a
sagacity which is more than human.
They proclaim these men kings and
bow before them in fear and trem-
bling. They worship before an imagi-
nary throne, These new gods are more
astounded than their subjects. j. Pier
pont Morgan did not create trusts; the
trusts created j. Pierpont Morgan An
drew Carnegie did not develop the steel
Industry; the steel industry developed
Mr.. Carnegie. John d. Rockefeller is
not responsible for the Standard Oil
company; it is responsible for Mr..
Rockefeller. Armour did not discover
the meat business; the meat business
discovered Mr.. Armour. These men
were at hand, and destiny seized and
swept them into power. Columbus did
not create new world. fear | am
becoming figurative, judge"
y. Pierpont Morgan is a great man."
said Postmaster Jenkins, who had vain
~ attempted to follow the argument.
Il saw him once when he went through
Llncolnville in his private car. He
threw cigar only half smoked up out
OF the car window, and picked it up
and have it up to my house." H..
what was about to say is this"
continued Colonel Monroe, ignoring the
postmaster's Renaissance. "There is q
disposition to suppress-I should say to
ulscourage-a free and open discussion
OF the trust question and the various
ISSUES pertaining to it. Why is this? |
What is there to be concealed? There
Is no revolution pending; the revolution
has occurred. We are installing a new
system of industry. The edifices of old
institutions are tumbling on every
hand, and the foundations of new and |
grander ones are being laid amid the
ruins. We are to live in them and
among them. Shall we not have
look at the architects plans and the
builders specifications? Are the de-
tails finished from cornerstone to flag
star! Not a bit of it. Who is to be
Denehted by conspiracy of silence?
surely not those who have gained the
greater advantage from the changes
thus far made. They are too broad
to imagine for moment that
they are to reap the exclusive benefit.
claim to have the average amount
OF intelligence and am an interested
party, but | declare, Judge Sawyer
that | haven't received enough light
on these great questions to qualify
myself as fair juror. There are two
sides to all questions, but this one has
dozen. 1t is Of vastly more impor-
lance than the slavery issue or the pres
ervatlon of the Union. 1t involves the
of society. Instead Of
avoiding debate the great financial in
terests should stimulate it. There is
real menace in prejudice inspired by
ignorance. Let all sides be heard. Any
interest which resorts to evasion or
hinders the presentation of all the tes-
tlmony endangers it's chance for exact
Justice"
Il fear that some interests do not
wish exact Justice" observed Judge