The Minneapolis journal. [volume] (Minneapolis, Minn.) 1888-1939, 1905-07-08

J MINNEAPOLIS JOURN
them overheard or back to the system
at half what they had paid for them.
Thus the 'systems has had returned to
its possession all the stocks and bonds
representing the ownership Of the great
corporations of the country and at the
same time 1t has the money the people
paid for these properties. You begin to
see now something Of the process by
which your share Of the prosperity OF the
country has been diverted to the pockets
Of a few men. The processes I have de-
scribed have been repeated at frequent
intervals in the last thirty years-hence
Rockefeller's 500 millions and Carnegie's
400 millions. and the Goulds' $50 millions.
Use Peoples Own Savings.
Labor has been denied any share in
the increment, and the owners Of the
lowering rates, that the patrons have
any rights in the railroad. If the rail-
road paid high dividends, the owners
proceeded to make a second 100 per
cent profit by doubling it's capitalize
ton
The stsystem : also milks the. people
thru the banks, declared Mr.. Lawson.
The money deposited in country banks
is deposited in turn in the city banks.
steel trust, and borrowed from the
banks to buy out the steel properties.
With $6O0,OO0,O00 they bought them
all, including Carnegie's, and then cap
italized the trust for $l,50O,OOO, 900,
bonds, preferred stock and common
stock. Then they quit paying divi-
dends on the common stock and it went
down. Standard Oil then went into the
market and bought up the stock, and
it went up again. Now, they are preach
ing thru their newspapers the value Of
I Steel common.
Q Eminent financial touts,'' said
Lawson, are busy explaining to the
| public, to the widows and orphans and
trustees what an excellent investment
these securities are, If the public bite
ana exchange Their savings for these
a profit Of several hundred millions,
and later will repeat the process, for,
/ take my word for it, United States
Steel will again drop to 50 cents on
Insurance Money Takes Part.
Mr.. Lawson then took up lslife in
suranee plunderings, = charging the
great companies with accumulSting a
| SACoG ou1 plus ny charging
premiums, on the plea that they must
have a reserve sufficient to meet all
obligations. With this money contrib
uted by the people, the insurance com
| panies get their share Of the s1sys-
TEN 81 profits and get in on the great
stock gambling transactions. He cited
| the New York Life, which held $4,000.
OO0 OF Burlington stock at the time
OF the merger organization. The
stock was worth 76, but it was ex,
changed for bonds, each share Of stock
getting 5000 in bonds, which became
worth par, 50 that now the Burlington
bonds are listed at 100000 in the
assets Of the New York Life.
What Will You Do About IT.
! oWhat are you going to do about
ltY, demanded Mr.. Lawson after a re
cltal OF this and other transactions
1 Roosevelt Helpless.
Today at the helm of your affairs is al
able and fearless American, bold to con
ceive and strong to execute. To all O
you he Is hero and you are behind
him, ready to back up his course wher
ever he sees fit to go. President Roose
, welt knows it, and today no man in tn,
country Is more keenly aware of the ne
cessity of curbing the corporate despotisn
dent Roosevelt do? hate to say it, but h
:, is as helpless in the Systems net as ,
: bull in a balloon. Like CULVER in Lilli
putia, he is bound by 1000 threads
gress the senate, the party's interests
, and gratitude, and aIll the Intangible in
!, huences which 2sths great money powe
can weave around ANY Individual HOY
A wrong Is called toshis attention, a lax
! must needs be passed-the rebate ev
:, must be curbed, and he sends message
to congress demanding instant actor
What happens? Congress temporizes; TIL
, senate snubs him, and the System
.. smokers.
Municipal and federal OWNERSHIP
v would avail nothing, he declared. Tn
i system with it's corrupting powe,
q would buy up the officers, cause tn
q street railways and other properties t
, lose money, and buy them back fro1
\ the people at reduced prices. The gov
eminent might well take up the insul
ance business, however. @
Unload All Securities.
5 To fight the "system, - Mr.. Lawso
maintained that it was necessary t
:, use the "system s - own methods.
= The first step is for the American pee
PIE to divorce themselves from the ''sys
: | ISAAA o4iu oCA1 every snare OF STOCK an
S every bond they hold back to the frenzie
hnanciers at present inflated prices
Take the money thus realized and plac
1t In banks and trust companies, or, bel
n ter STILL in government, state and munic
ipal bonds. In selecting banks and trus
}. companies steer clear to the best of yoy
= ability of those institutions that are linke
y up with the system When you all hay
8 done this you have cut the foundatio
from under the inflated price structul
g the system" is maintaining and a co
lapse is inevitable. When the value Of Sc
curities declines to given point the .'sy.
TEN" must throw over the stocks ar
9 bonds it Is carrying, for, bear in min
r frenzied financiers never own outright tt
J. stocks and bonds that stand %in the
), names. A financier worth 500 O00, 900 wi
& be found owning $50, 900 900 of stock bo
e rowing the s40,00O,O0O from the funds
5. the people in the banks. When the '.sy
q tenn" sells, the public alone will be alb
r to buy. Then the system will be I
t, more. There Is my simple plan-to los
g up the system with the stocks al
bonds distributed among the people in a,
" dit1on to the stocks and bonds it owns 1
Is self. Then deprive it OF the money Of Il
10 people. Result-the artificial price stru
s. ture collapses, the stocks and bonds
d railways and manufactures and gas con
I'd panies all drop to the real cost or va
or ues Of the properties they represent The
n the people, the money owners, purcha
l. the stocks and bonds, and having only
rs pay interest on their real values, can r
l. duce rates Of fares and freight and pric
), generally and the revolution will then
e. complete.