The Jasper weekly courier. [volume] (Jasper, Ind.) 1858-1922, 1906-01-26
NALL STREET BEFRlENDEb
secretary Shaw Breaking the Law
for the Benefit Of Frenzied
Fnanciers.

What Secretary shaw terms as ma.
tional epidemic To loan money" ast
summer is the cause OF the late nono,
squeeze In Wall street, where the rata
of interest mounted 10 100 per cent on
he last days OF the old year. Nov tr,n
all over the country" says Secretary
Shaw, these people are calling for their
money" He seems 10 hold a grudga
against these people" because they ara
now asking the Wal street bankers ~
repay the money which has been on de-
post with them for months and on
which they only received one or two per
cent. interest.
Secretary Shaw treats the banks much
better than these people do. for he has
deposited all the available money OF N.
pesple that has been paid as tariff and
internal revenue taxes. with the nation
al bankers without charging them one
cent of Interest and Is evidently sorry
the people have not been more taxed 40
that he could further relieve the neces-
sites OF the stock gamblers. For he
further says: The Kansas farmer
damns the New Yorker who buys stoeks
and the Kansas banker curses an the
Wall street financier who does not re-.
turn his money the moment II Is called
for"
IL seems that Representative BOurks
Cochran criticised the treasury depart
ment for assisting vicious system
In depo9ting money in Wall street
which was quoted 10 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 be does about running a steamship
suppose If the sum total OF human
knowledge were blotted out tonight
Rourke Cochran could supply it to NOR
row morning"
Most OF us who have followed Score
iary Shaw's career as secretary OF the
treasury have noticed his close connec-
don with Wall street and the frenzled
hnancicrs who run most OF the banks
N that region and his anxiety to aid
them. IL has been also noticeable that
Secretary Shaw has not and does not
enforce the plain law OF the land
against his banker friends. who are
continually breaking Il For in an in
terview regarding the Walsh failure in
Chicago. Secretary Shaw is reported 10
have said: That part OF the banking
lsw prohibiting the loaning OF more
than ten per cent. OF the capitalization
70 one man may have been violated.
That IS not criminal violation. and
All that can be done Is TO liquidate and
pay of the depositors. The violation
OF that law by one bank is no more
han has been done by almost every
s7nk in the country"
This utter disregard for a law which
congress, as Secretary Shaw should
know especially enacted to prevent
fenzied hnanciers of the Wall street
brand from borrowing more than they
could pay. II pinch came. was for the
protection Of the public.
Secretary Shaw evidently fears the
Of Mr.. w. Bourke Cochran
on that and other numerous sins II
commission and ignorance he
has committed and thinks 10 beliule
those who call attention to his mis-
takes and law breaking and who are
honestly trying to protect the public
II IS hardly necessary to defend b lurke
Cochran from charge Of ignorance.
Tor there is probably no public man
who studies questions on which ne
speaks more than he and no one ex
cells him in forcible and clear state
nent- Bourke Cochran's little finger
knows more than all Of Shaw's body
President Roosevelt should demand
he resignation OF this conceited ieno-
ramus he has allowed so long 20 in
Eliminate and disgrace his administra
lion. or he will be blamed when the
rash comes for the sins OF shaw
Sh,rL the frenzied financiers have in.
luced him TO commit. AS Il is now.
he bankers, with the connivance OF
shaw, are nearly all violating the law
Is that a square deal?