The Topeka state journal. [volume] (Topeka, Kansas) 1892-1980, 1907-01-29
WALL STREETS VIEW.


there is a strong feeling of revolt
against the president in New York.
1t is led chiefly by the financial inter-
ests. And one reason why the finan-
cial interests are revolving is indi-
Gated in the current weekly financial
review issued by J. S. Bache, Wall
Street banker.
There is too much public investiga-
ton. says this authority. In other
words, the big f1nanciers do not like
to have their crimes spread out before
the world. They admit that there are
evils which must be corrected, but
they wish them corrected in a quiet
and ladylike manner. They are making
the plea that these public exposures
are hurting American credit abroad.
a leading journal, says Mr.. Bache.
quotes bankers in a position to speak
authoritatively on the subject, as
pointing out that the, impression that
is being created abroad, that all busi-
ness in this country is being conduct
ed dishonesty, threatens to cause a
practical withdrawal of European sup
port for undertakings in America
And it seems to be fact that at the
high point of prosperity, when most
needing foreign capital, our crude leg
islative operations have succeeded in
soaring off the money of other coun-
tries. There is no alloy in a disaster
of this kind.
1--WE all remember with what salts
faction, year or more more ago, the
news was received of the Paris mar
ket having been opened to Pennsyl-
vania-the first adoption of promi-
nent American security by that nation
vealed a vista of broad, future fields
for our better enterprises. No doubt
the whole of Pennsylvania financing, !
which has recently fallen so heavily |
upon us, was prospectively arranged. |
there and then, and when this delicate |
entente, was shattered by. the rough |
legislative treatment of Pennsylva MIA |
here, calling home President Cassatt |
on the eve of the perfecting of the ar /
one can we'll imagine that
shock, disappointment and grief. be-
cause of this reeking slaughter Of
Pennsylvania French credit, brought
his life to an early termination. Be
cause the French credit is for the
present, at least. done for, and the in
caIculable benefit to this country, of
that rich field, is apparently hopelessly
1
All of which sounds very dreadful |
until it is remembered that President
Cassatt was not brought home by
rough legislative treatment but by
the news of extensive grating among
the officers and employees of his road.
President Roosevelt's part in the ex-
'Barbaric Methods"
soiled linen must be cleaned, but what
in doing it on the front door
step. when the cellar is the place for
aundries? The result has been, it is
rue, to cleanse, but at such expense
If exaggerated public abuse and I'M
public scandal. that the
whole world sees US through yellow and
spectaeles- The Big Stick. a
symbol of barbarisn, has been used,
when delicate but powerful machinery !
operated would have done far s
,etter And the big stick has swung
around in it's needless strenuosity,
flashing the delicate structure of credit, !
nd creating such distrust from capital
10Th here and abroad, that now 1t ,
GEMS some attempt is to be made to
ret the president to reassure the world s
s to corporations which are really
cod. Too late! The Pandora box (for
Pandora read Theodora) is opened and 8
What seemed like procession of fairies
las turned into a march of giants of ]
iscord, discomfort and destruction
md to shut the cover of the box now
would not again confine them
This intense agitation against cor !
'orations is, of course, being carried too {
ar, even for the purposes of regulation
state hostility is beginning to manifest
tself in such unmerited action as that !