Courier Democrat. (Langdon, N.D.) 1891-1920, 1906-02-01
D%ISREGARDED THE LAW
Secretary Shaw Aided His
Banker Friends.
LOST TEMPER WHEN CRITICISED

LOST TEMPER WHEN CRITICISED
Made No Attempt to Curb La.ybrenk-
ing by Frenxicd Financfcrs - SYM
pnthy All For Wall Street-Intcrests
of the Common People Neglected
and Ignored.
What Secretary Shaw terms a ma
tional epidemic to loan money" last
summer is the of the late money
squeeze in Wall street, where the rate
Of interest mounted to 100 per cent
on the last days of the old year. Now
from all over the country says Sec
rotary Shaw, these people are calling
for their money" He Gems to hold a
grudge against these people, because
they are now asking the Wall street
bankers to repay the money which has
been on deposit with them for months
and on which they only received l or 2
per cent interest.
Secretary Shaw treats the banks
much better than these people" do, for
he has deposited all the available mon
ey of the people that has been paid as
tariff and internal revenue taxes with
the national bankers without charging
them one cent Of interest and is evil
IDENTIFY sorry the people have not been
taxed so that he could further
relieve the necessities of the stock
gamblers, for he further says, THE
Kansas farmer damns the New Yorker
who buys stocks and the Kansas
banker curses at the Wall street finan-
cier who does not return his money
the moment it is called for"
Corkran criticised the treasury depart
ment for assisting a vicious system"
in depositing money in Wall street,
which was quoted to Secretary Shaw,
who wrathfully replied:
"Bourke Cochran knows as much
about that as he does about $50 other
things on which he is continually talk
ing. He knows as much about finance
as he does about running a steamship.
I suppose if the sum total of human
knowledge were blotted out tonight
Bourke Cochran could supply it tomor-
row morning."
Most Of us who have followed Score
tary Shaw's career as secretary Of the
treasury have noticed his close connec.
ton with Wall street and the ~frenzied
fnanciers who run most of the banks
in that region and his anxiety to aid
them. 1t has been also noticeable that
Secretary Shaw has not enforced and
does not enforce the law of the land
against his banker friends, Who are
continually breaking it, for in an inter.
view regarding the Walsh failure in
Chicago Secretary Shaw is reported to
have said: "That part Of the banking
law prohibiting the loaning Of more
than 10 per cent of the capitalization to
one man may have been violated. That
is not a criminal violation, and all that
can be done is to liQuidate the bank
and pay off the depositors. The viola
ton Of that law by one bank is no
more than has been done by almost
every bank in the country"
This utter disregard for a law
which congress, as Secretary Shaw
should know, especially enacted to pre-
vent frenZied fnanciers of the Wall
street band from borrowing more than
they could pay if a pinch came was for
the protection of the public.
Secretary Shaw evidently fears the
criticism Of Representative Bourke
Cochran on that and other numerous
sins Of omission, commission and igno-
rance he has committed and thinks to
belittle those who call attention to his
mistakes and ~lawbreaking and who
are honestly trying to protect the pub
lie. 1t is hardly necessary to defend
Bourke Cochran from q charge of igno-
rance, for there is probably no public
man who studies questions on which he
speaks more than he, and no one cxcels
him in forcible and clear statement.
Bourke Cockran's little finger knows
more than all of Shaw's body.
President Roosevelt should demand
the resignation Of this conceited igno-
ramus he has allowed so long to incrim-
mate and disgrace his administration
or he will be blamed when the crash
comes for the sins Of Shaw which the
frenZied financiers have induced him to
commit. AS it is now, the bankers, With
the connivance of Shaw, are nearly all
violating the law. Is that q square
deal?
Elkins and Railroad Rates.
Quoting the statement of the Kansas
City Star Ind.) that while Senator
ElkiuS may not safely he looked to fa1.