The Stark County Democrat. [volume] (Canton, Ohio) 1833-1912, 1906-01-16
Senator Hepburn Says
Wall Street Threatens
to Wreck the Country
Financially Unless De-
mands Are Met.
Urges Regulations That
Would Prevent lnsur-
ance Companies Civ
ing Spectators AID.
Moroccan Conference

moroccan conferences
Washington, Jan. 1.-THE Moroccan
conference, to which President Roose-
welt has appointed two delegates and
over the outcome of which assemblage
it is feared Germany and France may
90 to war, held the attention of Sena-
tors for over three hours today. Ad-
journment was finally taken until
Monday.
Senator Bacon, in open session, rails
ed the point of order that his resolu-
ton, calling upon the president for IN
formation as to the instruction of the
American delegates had been i'm
properly placed upon the calendar.
The doors were ordered closed. He
fought hard and was assisted by Mr.
Morgan (Dem., Ala.) wno wants To
make speech on the subject and Mr..
Teller (Dem., Colo.) but Vice Presi-
dent Fairbanks cited a preceuent es-
tablished on an exactly s.mnar case
cd to recede from hls previous rulIng
Mr.. Bacon held tnat his resolution
had not been given its one days con-
sideration, to which it was enLilled
under the rules, as the five hours d.s-
cussion of previous session had
been on the question as to whether
the debate should be public or pr4-
vate
incidentally those who opposed the
United States taking any part in the
Moroccan conference had their say.
The majority did not participate
greatly in the discussion. They were
determined that the Moroccan dispute
should not be discussed in a way that
might offend the governments TO par
ticipate therein and were well pleased
with the position of the Bacon resolu-
ton.
The reason the Democrats sought
to again debate the resolution came
from the discovery that Senator Spoon
er had not, as was understood, actual |
by assured the senate that the AmerI- |
can delegates to the contereAce would |
be mere spectators. MIR Spooner sim
piy expressed his conviction that the
delegates would not vote on any queS- |
tion that might precipitate war be-
tween the European nations but did
not give any assurances.
Mr.. Hepburn gave spice to the de-
liberations of the brief open session
xuba hn hn
troduced providing for the inspection
by commission OF corpo. alions en-
gagged in Interstate commerce. He
urged regulations that would prevent
Insurance companies from coming to |
the assistance of desperate spectators |
and manipulators OF the stock mar
ket."
He characterized Wall street as a
gambling house on the Hudson" and
denounced what he decla. ed was its |
Interference with national legislation. |
Whenever the legislation, either !
enacted or proposed does not suit
them" he declared, they meet us
with threat that unless you do GER
tai.l things within a certain time and
Nhd'N NSi lulH lSSISldliOH we Will WT6Ck /
the country financially
They have sought to control and In |
large measure have succeeded in con- |
trolling through financial combinations |
to which | have referred, an unnatural
and unholy proportion OF the money
OF the country" he continued.
"They have collected together mon
ey by hundreds of millions of dollars
and by the little combination of q CO.
terie OF men whose only avocation In
life is to gamble upon the chance of
what somebody else may do, they
bring about what is known as stress
that will affect the prosperity of the
citizens from one ocean to the other.
"That condition should not exist. 1t
exists in a measure because of the
very evils against which this bill is di-
gectod-inAated values, fictitious cap
italization based upon small property
or none77that enables them to give a
fietitionsa value to debenture or a
stock aud send 1t upon othe market,
and by the process of. Juggling keep 1t
in the air like juggler keeps light
bali upon the ends of his fingers"
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