Aberdeen herald. [volume] (Aberdeen, Chehalis County, W.T.) 1886-1917, 1907-11-11
RETURN The MONEY
west able TO STAND upon ITS
own MONEY
1t Wall Street be Made to Disgorge It..
Seattle Post IntelIigenCer Calls
Upon President Roosevelt to
Compel the Return of Money Due
the West.

Circumstances alter cases. A doZ-
en- years ago, when the West was
pinched, all Wall street howled like
wolves hungry for the fat feed they
were determined to make on the Wes-
tern lambs which were unfortunate
ern lambs which were unfortunate
enough to get within their clutches.
No mercy was shown to the West.
The last dollar. the last cent which
could be wrung out of the Western
farmer was extOrted.
Since that time the West has be-
come as strong financially as a
young giant. The farmers are out
of debt, have money in the banks,
and their annual products reach the
billion mark in dollars. Today there
are millions of Western money in the
banks of the Wall street district
loaned out of the wealth of the West.
1t is time for the West, from Chi
cago to Seattle, to demand its return,
and to insist that it shall be returned
before this fool panic which the New
York bankers have created shall last
long enough to make actual depres-
sion in the unexampled prosperity,
for whose decrease no sound reason
exists. and no reason at all except
the blind fear which seems stimuli
taneously to have seized upon nearly
every bank in the United States, a
panic which was natural enough and
perhaps excusable, but still a panic.
Senator Hepburn, of Idaho, has
voiced popular sentiment, has struck
a chord in letter to the president,
which will be re-echoed in the hearts
of every bank depositor in the Pa
cifc Northwest His letter is brief,
is put into writing by request of
President Roosevelt, and it should
be read by every Western man who
has a dollar.
"On behalf Of the people of the
Western states, and especially those
of the Northwestern states, l would
urge that no further deposits of
money from the treasury of the Unit
ed States be made in New York banks
except on the condition that such
banks shall Immediately make avail
able in money to the banks in such
Western states the full amount of
the reserve held by such New York
banks on account of such Western
banks.
The tying up of many millions of
dollars of Western money, represent
ing the reserves of the Western
banks held by New York banks, must
inevitably result in empowering the
New York banks to determine the
time or conditions of free resump-
tion of banking functions by West
ern banks; whereas, if the reserves
of the Western banks could be con-
verted into available money at once,
the financial situation of the West
would be free from domination on the
part of the East and the West would
become valuable ally of the East in
the restoration of desirable finan-
cial conditions, rather than remain,
as at present, fellow sufferer
Second the motion. Here is an oc-
casion where the West should unite
as one man and say to the president,
mo more aid to Wall street until
you aid us by making Wall street
disgorge our money"
If Theodore Roosevelt, president of
the United States, were to say to the
bankers of New York: Return the
Vests money to the West, and the
treasury will make good by leaving
deposits with you, but no more for
you until you satisfy the West, pub
lie confidence would be restored in
forty-eight hours, timid, boarded
money would crawl out of it's cyclone
cellars, banking would become nor
NAL, credits would resume operations,
and the checked stream of prosperity
would continue to swell it's golden
P.-I.