The independent. [volume] (Lincoln, Neb.) 1902-1907, 1906-01-11
NEUTRALITY-SUSPICIOUS.
PLEA OF WALL STREET GAMBLERS

demand for more elastic currency" Jaco
Schif was chosen by the Standard Oil crowd
voice the plea of those, who, finding the Golfer
must have money from some source in order t
further initiate prices The gamblers are stri'
ing to make catspaw of the administration
They have drained the New York banks an
now the bankers are demanding more money TO
Legitimate business" If the government stay
out the Standard Oils speculative bubble wi
burst. After that "the deluge.' In characters
tic style Thomas w. Lawson megaphones a
follows
Schif's speech was inevitable. 1t is the
Systems" first definite squeal This is the
situation There Is plenty of money for all
legitimate purposes, but our country, having
awakened to the System game, will not send
its balances to Wall street. Just then my
revelations compelled the system" to bid up
stocks to protect it's rotten structure. This
doubling OF price values has increased Wall
streets demands for money. Hence, unheard
OF money rates. Now, the System" has its
own stocks and with prices way up where
1t wants them is ready to unload on the pub
lie, but the public will not bite Therefore,
the only possible chance left for the system"
is to get rates down in the hope that brokers
on margins. President Roosevelt, who is thor
Oughly posted ON the game, and watching it
as terrier does a rate hole, will allow no
relief to the system" The deadlock is now
perfect and the System suspended by it's
own pants seat, must strangle, drop, or kick
= The Rogers MISUNDERSTANDING Oil-Stillman-
City bank gang are not blue ribbon public
kickers so they got their first lieutenant,
Jake Schiff, to yell SO that President Roose-
welt would be fooled into thinking that it was
the Rothschild infallible combination, but our
president is 81, has his upper and lower
teeth cut, and in this case has locked his
jaws and dropped the key overheard.
Mr.. Schiff has an elacticty plan of his
own. 1t is an increased circulation secured
solely by Legitimate commercial paper, pos
sibly based upon deposit with certain clear
ing houses in the country" This is not alto
gether new proposition. The successful use
OF clearing house certificates in panics
prompted the suggestion that banks should
pool their reserves and make them the basis
OF an emergency note issue, but it has
hitherto met with no favor. Mr.. Schiffs pro-
ject will meet with q warm reception in no
quarter Why is II that Mr.. Schiff, while
censuring the "inelastic currency and the
failure of Secretary Shaw to take his advice,
fails to call attention to the shortcomings
of some of the New York banks? If they
brethren the situation would not have been
so abnormal Alexander ID. Moves says in the
last Forum, Zone obvious recourse to relieve
the situation was that the large loans already
made by the banks of Wall street spectators
for the purpose of sustaining stocks at their
high existing prices should be cancelled and
the banks liabilities thus reduced" The
banks did not do that. There were plain in
dicati0ns that the promoters of this seasons
speculation had such affiliations with "im-
portant banks that they were able to insist
on retaining their expensive lines of credit"
Perhaps the conduct of those banks cannot
be called "a disgrace TO civilized country"
but ii Is conduct highly prejudiced TO the in.
terests of the community.-Chicago Tribune.
That which he considers q disgrace to
any civilized community is a rise of money
to 100 per cent and over, accompanied by an
uproarious speculation for the rise In stocks.
We can only infer from his remarks that he
condemns an inelasiic monetary system for
this soaring of the money rate. rather than
the speculative cliqnes the banks which
have been helping them along. But the