Courier Democrat. (Langdon, N.D.) 1891-1920, 1906-08-02
A BANK,
With Power to Issue Notes and Re-
MISUNDERSTANDING Oil Plan.

With Power to Issue Notes and Re-
discount-stnndurd Oil Plan.
IDe connection between the Rookie
teller banks and the United States
treasury department is so close that
any plan for popular bloodletting
through favors to the National City
bank Of New York and the Riggs
Dank or Washington is always known
far in advance by those institutions.
indeed, the Riggs bank keeps a minor
official, who was for awhile assistant
secretary OF the treasury, on purpose
to nose around his old haunts and
keep the Standard Oil people advised
when a fresh financial mellon is to
be cut so that they can be on hand
early for the lions share of the spells.
In 1903 the treasury officials We're
mailing circulars of the National City
bank to all the holders of certain
bonds which were to be converted,
and the profits of that large transac-
ton largely accrued to Standard Oil
in consequence Of this Republican Off
cial assistance. The present imGnacu-
late administration, of course, could
not be caught grating, and all the
favOrS granted the Standard Oil clique
We're for the benefit Of the tariff plum
dered taxpayers.
There is another young man whom
Standard Oil took over from the treas
ury as an asset Of the Gage admins
tration. He poses as a great authority
on high finance," predicts panics and
foretells prosperity as suits the Stand
ard Oil interests. He is the Mother
Carey's chicken of finance, to tell of
the coming storm and stress to the
country if the advice of Standard Oil
is not needed. At present he is harp
ing on that old %plundering scheme Of
"a scientific bank note currency" the
best plan for which would be "a gov
eminent bank having the power Of
issue, whose sole business would be in
it's relation with other banks and
whose chief operations would be in
the ~rediscounting for other banks"
That proposition would even stagger
Andy Jackson, for with Standard Oil
capital embarked in "a government
bank" the old United States bank.
that gave President Andy Jackson
and the Democrats so much trouble
before they could squelch it, would
look like n of the new $4,000 ma
tionals in comparison to one of the
gigantic financial institutions which
Standard Oil already controls. Such
"a government bank, having the power
Of issue and ~rediscounting for other
banks" and thereby having them all
more or less in it's power, with the
INSCRIPTIONS men in charge that dom
mate Standard Oil interests, would in
deed be a wonderful institution. 1t
would beat the Bank of England and
the Bank of France in financial power
and would dominate our politics also.
Standard Oil has no expectation OF
such an institution Immediately. 1t is
for the future, when the people are
more composed politically, but it takes
time to lay the wires that can be cleo.
trifed into life when times are pro.
pitious. 1t is we'll. however. to keep
watch and ward over those elected as
representatives Of the people that they
may not be hypnotized by this great
power, which, in one Of it's smaller cor
porations, controls more money than
the old United States bank that the
Wings, the stand patters of Jackson's
day, fought and bled for. Nothing but
a united and honest Democracy can
prevent the consummation of this
scheme Of vast finance, or something
like it, for the Republican party would
accept it today in order to perpetuate
itself in power.
The fact that the Republican secre.
taries Of the treasury, with the evident
approval of the president, encourage
this close connection with the Standard
Oil interests is p%ortentous of the favor
of this plan of financial Capitalization
in the highest Republican quarters, and
it will require Jealous watching on the
part of Democrats and honest Repub-
lican voters to thwart and prevent it.