The news & observer. [volume] (Raleigh, N.C.) 1894-current, 1903-08-20
WALL STREET A TEXT
Rev. J. C. Hogan Arraigns
financial System.
Dsnounces Thcss Behind the Manipulation
Of The Market as Thieves and
Sharks.

Rev. j. c. Hogan, of Emanuel Meeting
Jude to his sermon, took for his topic
Money Monopoly and the Wall Street
Gamblers and spoke as follows:
1--WE have dishonest and rotten fin
ancial system in this and other lands to-
day which has created a gigantic money
trust, power or monopoly. Under this
system Wall street money changers can
contract our currency in "a hours. to the
decentralization of business and the dam
nation of thousands, and English money
mongers can do the same thing through
out the world in 4S hours.
SCORES STOCK MANIFULATORS.
For a long time we have had great
prosperity talk in this country that was
largely based on stock gambling Looms of
pious, self-legalized thieves who had wa
tered stocks for sale. But during the last
few weeks there has been great stock
slump in pious Wall street circles, and
many victims have gone down--some to
suicide, some to silent sorrows and some
to the same old sins.
''But that is not all that is involved in
the present stock slump From very re-
liable sources comes the Information that
behind these latest Wall street panics and
failures is q new financial conspiracy, in
vclving a proposed theft of 81, 600, COO 900
Here is the game now under way: Wall
street wants $4,000 coo, coo 'vorth OF credit
assets currency That has been the
scheme Tor a long time, but it was not
successful under the Aldrich bill at the
last session of Congress. The steal was
not big enough and the big thieves were
not ready for it. Those who are back of
the new Aldrich bill, which is beng pre-
pared, are now depressing the stock mar
ket to enable the big gamblers to buy
uo all the market at their OWL prices
ard pave the way for bankers III trade
exchanges to ask the President to call an
extra session in October to give the
country relief. CD which will OF course
be to rush this dishonest Ald"ich bill!
through Then the stock prices will
boom, but. of course, it will be the
booming Of the worthless stocks row be
ing depressed by the money monopolists,
and when they are UP 100 Or zoe points
these same selflegalized thieves and
gamblers will deposit them with the
United States Treasurer and take out
the proposed S2,OOG,U0O.UCO OF credlC asset
currency; this they will shuttle OFF on the
easy people, while they (the gamblers or
Wall street moneyed mem will take only
gold Then they intend to call for gold !;
the Government will be unable to meet
the call and will be forced to issue gold
bends, when these self-legalzed thieves
will bob up again to save the country
and take the gold bonds and go to
heaven when they die.
THOSE "UNDIGESTED SECURITIES"
''The worthlessness of these alleged Sc
curities' which it is proposed to make the
basis of this proposed asset currency
may be judged from the fact that the
bethlehem Steel Works, which cost $780,
eco, were bought for the Steel Combine
by Mr. Schwab for $7000,0 600 and made
the basis for the issuance of $50,000,0 600
of stock No wonder there are 'undigest-
ed securities on the market and the money
monopolists want a new issue of banl,
notes based on corporation bonds!
Splendid, The grandest financial system
in the world!
Il believe the hottest place in hell will
be good enough for these pious money
sharks and those preachers, who. by ST
lerce, and those politicians who, by ac-
ton. help them to thus betray the peo-
PIE