The Farmington times. (Farmington, St. Francois County, Mo.) 1905-1926, 1906-02-09
WALL STREET IN DANGER.
rrenzied Financiers Initiate Gaseous
Stocks and Howl for
More Money.

The leaders of "frenzied finance" ID
Wall street are intent on initiating ths
currency, for they find they have not
emo Ugh money available to speculate
WITH A great panic Is predicted Ivy
jacob II. Schff. head of the banking
fri OF Kuhn, Loeb G. Co., unless
Co gress provides for more currency
He fayors a currency based on COM
uerclal paper. and does not approve OF
he plan Of Secretary Shaw. which he
leclares would aid speculation rather
than legitimate business. Mr.. Schf,
who is one Of the Rockefeller crowd Of
financial princes, has Lcen foremost Ia
watering the stocks Of railroad and In
dustrial corporations. Imitation is tho
principal business OF these frenzied
fnanCiers, and they have inflated the
Wall street balloon with such vol
ume Of gaseous stocks and bonds that
they now find 1t difficult to hold dowI
their creations.
There appears to be plenty OF moncN
for legitimate business, but not enough
for the stock gamblers The volume
Of business all over the country IS
greater than ever before, and no pro-
Queer. be he miner, manufacturer or
farmer, but can get money for his
produce at the market price The cur
rency of the United States has been
Increased iGl5 per cent, since 1896, or
Dpa rly ppa hi'1ipp IAlIorc In nina ra
for whereas 1t was seize In 1896, II
Is now $3l.40 per capita, OF this vast
sum nearly one-fourth was created by
the act of congress OF March, 1900,
which allowed the national banks TO
Issue currency to the full amount OF
their deposited bonds and to new
banks that have been started. and the
other three quarters Is from the In
creased output Of gold.
Yet with all this imitation. the fren-
aed financiers OF Wall street are cali
Ing for more money, and their dupes
who speculate there have been paying
pc high as 100 per cent for money %
carry the stocks they buy. some Of
which are not intrinsically worth the
margin deposited. The facts are tina.
the financial princes, or pirates, which
ever view Is taken of them, have
used all the surplus money of the New
York banks and trust companies 10
buy tho stocks and bonds that have
been offered on the stock exchange 50
as to advance the price, or at all even
not allow prices 10 sag, in the hopo
that the dear public-known as the
lambs in Wall street parlance-will
eventually come into the fold and ba
shorn, by buying the inflated stocks.
II really Is n shame that congress
does not pass n law allowing Mr..
Schiff and the other Wall street bank
ers to issue money, with their inflated
and watcred stocks as security. II
such wildcat" currency could be cir
culated only in Wall street, there
would he no great harm done, except
to the frenziod financiers and their
speCula ing dupes. but even such like
other vicious people must be protected
by wise laws from their own depravity
for the general welfare
As the Republican party has done
everything possible for their friends,
the frenzied financiers and trust mag
mates, even to depositing in their
banks all the free money in the Unitel
States treasury, that could be spared
It is no wonder that they fear panic
is impending. for the finger on the wal
Dc nd hnt
kingdom is to be ended by the Democ.
racy-then honest men will get their
due