Las Vegas daily optic. [volume] (Las Vegas, N.M.) 1880-1908, 1903-10-24
a SHAKEN CONFIDENCE.

AuS htol bfoh5 VI the HuhuCidl cTl;
Is Of 1903 have fallen, and the cour
try Is beginning to pay the penalty q
someone's folly. The qnetslon Is be
Ing asked on every hand, Who o
what Is to blame for the shaken cor
idence Of the country?' The leader
OF Wall street, and their leading ORG
an. the New York Sun, have eve
since the first slngns OF weakness ii
the market, been laying the entir,
blame upon President Roosevelt AM
his attitude toward the trusts
Harper's Weekly and d few lessee
periodicals have never gotten through
harping on the course Of the president
~ exceeding constituting powers ant
appointing the Anthracite arbitration
commission. They trace all the sub
sequent excesses OF the labor unions
with the consequent injury to thu
industries Of the country from this
encouragement" when, as a mat
Ter Of fact, the action of the president
y generally believed to have had an
excellent effect on labor, especially
the attitude OF its leaders.
No, the blame can not be laid al the
door Of the president. He Is d friend
81 capital as he is Of labor; he is
undoubtedly a believer in the legiti-
mate combination and concentration
q capital which has been one of the
great factors In developing the indus.
trial supremacy OF the United States ,
he Is an aVowed enemy OF the illegi.
mate and unnatural m%anipulations 81
capital which have run riot during Che
paat Few years.
i Is the gamblers OF Wall stree,
who have % take the responsibility
Of the present financial situation, il
IS unfortunate that they do not have
to pay the whole penalty of their
mN&A&#@S R@* &&HHf%aH&l4sf
course, but the country ii entangled
IN The net with them. Many Of the
areat manipulators' who well know
what me end must be, seem to have
gotten safe In time and left the
small SPECTATORS to pay the fiddler.
me revelations of Wall street meth.
watch are being made at present
a the courts OF New York city are
MS to open the eyes of the whole
country and the lessons which the
American people are learning will not
9 be forgotten. The Chicago Inter
ocean sums up the responsibility for
ne present condition as follows.
For years Mr.. Morgan has been
criticised, traduced, ana lied
lbout, Nevertheless, he retained the
confidence q investors, al was proved
y the continued wider diffusion OF
teel securities until
-. Inc ..a ssasleesiogn af dRosse -s wsYso Saaa
hus continued to repose confidence
4 MIR. Morgan had been deceived.
Mr.. Morgan may not have been an
lctiye party 10 the damaging transac-
ion, but under the conditions he had
o take the responsibility for II.
i
And other financiers, second only
o Mr.. Morgan In renown, continued
d be trusted as safe managers OF In.
sestments until
THE disclosure was made OF such
episodes as these: Giving
% a $50 clerk the authority and re-
sponsibillty Of issuing $70,0O0,00 OF
he securities Of q great corporation;
d real estate broker who hon
confessed his inability to sign q
10000 note to get the furnaceman
Dr. anybody to sign Il, when such
note was to be the security" for an
sS50.o0O loan.
Calumny and lies and hostile as
from the outside seldom ruin a
man Or an enterprise that really de-
serves confidence. The destructive |
influences are those which come from
the in Jide.
What has caused public confidence