The Topeka state journal. [volume] (Topeka, Kansas) 1892-1980, 1907-11-14
A BUGABoO.

Inc suspicion VIII not down CnaL a
| large portion of the present financial
furry is artificial, purposely brought
on by those who wish to see a panic
in order to influence next years presi-
Dental election and to scare Roose-
welt and congress from further mo-
Testing criminal corporations. and also
to compel the adoption of some sort
of an asset currency scheme.
The most influential paper in the
Pacific northwest, the Portland Ore
gonian, is very pronounced in its views
that the disturbance is only plot Of
the money pirates against Roosevelt
and the country" 1t says:
wall street panics made to order.
having failed to frighten anybody, 1t
became necessary to set trap. Big
to lure the money of the country to
New York. The bait took and thither
the money went. Then the pirates set
up their chorus, You're in. little
different question, Wall street got the
money of the country. and Wall street
kept it. The banks of the west were
literally disemboweled. Nobody feared
trouble. Why should we not profit by
the necessities of east? So we profited
by them. Then came another Wall
street furry, failures and rumors of
failures. The Knickerbocker Trust
H.
nick of time to serve the purposes of
the pirates, and since they controlled
it one can easily discern the reason for
its failure. Confidence throughout the
country began to totter a little and the
west awoke to the fact that it's crA1it
hung in the air. The cash was all in
the vaults of the freebooters. 1t was
exactly where they wanted it. and We
keep it there. All other means or
creating a national panic having fall
ed, they tried the trick of buncoing
the interior banks out of their funds
Their hope was that the people every
where would start run on the banks.
If that had been done, nothing could
have saved the country from disaster.
fast exercise of common sense and
courage. Everybody should keep In
mind that the banks are sound, that
they are abundantly able to pay all
thing which can endanger lem Is a
concerted run. This Is what the
pirates are looking for. 1t is what
they are working for. But it is what
country should not permit. This last
blow of the freebooters at the presi-
dent and the nation was we'll prepared
and skillfully delivered. but If we keep
our heads we can parry it as We have
the others. The question is, Are we
going to keep our heads or shall we |
fall into a panic and play their game
for them % !
OF course there is no doubt that |
Wall street is hard UP compared with |
what it has been. Wall street pro-
duces nothing itself and the producing |
sections have been getting the wealth |
while Wall street has been gambling. |
There is that much reason for the |
panic so far as Wall street is con-
cerned.
The people as a whole have not |
been frightened in the least, although /
1t is quite possible that our rapid de-
may slow down a little, for
the country was going too fast. There
was a greater demand for labor than
the laborers could supply, and the
same was true of capital.
But with all the wheat and corn and
cotton there is in the country, the pro-
ducing sections are not worrying They
will furnish just as large a tonnage as
ever for the railroads to haul away, for
both America and Europe must have
food and clothing. The producing re-
sions, in return. will continue to spend
their money for manufactured goods,
keeping the factories and tts mines
busy, and making more tonnage Tor
the railroads.
There is no reason why Legitimate
business should not go ahead on con-
lines the same as usual, in
spite of the financiers' screams about
the panic and hard times.o We
may not have speculative prices-it is
to be hoped that we won't-but farm
products and manufactured goods will
both make their producers good
profits.