The Minneapolis journal. [volume] (Minneapolis, Minn.) 1888-1939, 1905-07-14
How the Public Would Profit.

Would not thousands Of wage earners
who have neither stocks to sell nor bank
deposits to withdraw suffer actual want
under the conditions you predict? Do the
working and labor classes care whether
stocks and bonds go up or down? What
difference does 1t make to them? Per
haps you may say, Why, 1t would make
no differences; but right there Is a danger
Gus fallacy. "
If United States Steel Is taking from
the American people every year the ex-
penses of conducting the steel trust and
in addition enough to pay dividends on
$770, 0O0, 900, most of which Is fictitious, it
means that its prices are so inflated to
the consumer that any industry depend
ent upon steel for its working equipment
must pay an exorbitant price for steel.
And these industries wiring the price
wherewith to pay the steel trust from the
American workingmen.
Now, If United States Steel stocks and
bonds were shrunk to approximately their
real value by the unloading process of the
people, it would mean that less money
would be demanded for steel products,
| causing particularly a reduction in pas
senger and freight rates on all American
| lines. The workingman could then travel
| abroad in the land, move his goods and
chattels for less money and buy freight
| commodities at reduced rates. It would
mean that the cost Of living would be re-
duced, which Is the same thing as q raise
| in wages.
| When these conditions come to pass
that have been detailing to you in my
story, it will come without disturbing
| the status Of either of the great politica
parties. There will be no political revo
luton, as is so often charged by my crit.
les. This Is the peoples fight; it is not {
cause of political uprisings. But perhap!
one or the other Of the great politica
parties may make capital out Of my ex
posures. What If they do? Suppose tn
democrats see the value Of my campaign
for political purposes before the republi
cans, and they should select your grea
governor here to be their standard bear
er, should be the first to give him an
the party a boost. It's question Q
American citizenship, not of party poll
4 tics. .. ;. .t--
Reason for Stock Gambling.
Another question taken up wal
first hd shod en m Mr f Tawsoh
advice was "don't speculate. - H
would either put the money into some
thing that is producing, as farm q
factory, or else buy government 6
municipal bonds and be satisfied wit
small interest He continued:
Just stop and think before you stat
to speculate with that first thousand do
4 lars. It costs Wall street millions an
: millions Of dollars every year for e.
penses. The street doesn't produce
thing. How Is it going to get the none
. to pay running expenses? From the pre-
Queer. You are the only fellows WI
\ ever bring real money into the thorofar
have had motto hung up in m
/ office, so that everyone who enters ma
( read it: .Don't speculate. You'll lose
Yet, I'll tell you in confidence, you can
keep the people away. If were to loo
I my door some one would come thru tt
window and offer me his money to inve
4 for him.
This is brought about by a conditio
III A brokers' office is supposed to be g. r,
spectacle place. You can go into a br,
ker's office and attend divine worship IL
next day. You can't go into a comma
gambling hell without losing your reput,
ton and standing in the community. u
I can come into our gambling bells and
4 you come out with a bigger bunch
4 money than you went in with you will
more respectable than ever. It's o.
gambling propensities and the idea tn
B stock broking Is respectable.