The Topeka state journal. [volume] (Topeka, Kansas) 1892-1980, 1907-06-11
WALL STREET PAINTINGS.

Kansas people hear so little crlti-
cism LET alone abuse, of President
Roosevelt. that the rantings of 'the
interests on Wall street, which cor
daily hate him, are a decided change
from the concert of almost unanimous
praise of the president that one hears
in the west.
We people of the prairies do not
realize to what an extent President
Roosevelt's policies have interfered
with the operations of the frenzied
fnanciers and the big bunco steerers
who expected to take advantage OF
the nations prosperity to perpetrate
other ALTON deals" President Roose-
Welt has determined that the watering
of stocks and the unloading of them
at inflated values on unsuspecting IN
vestors shall stop, and the big get
rich-quick manipulators on wall
street are correspondingly angry. They
are crying that Roosevelt has ruined
the country's credit
Some Of these expressions are in
teresting to the west because of their
very novelty. Here is a paragraph
from the weekly financial review is
sued by a Wall street firm that is
supporter of Mr.. Hartman:
dents policies is evidenced by the de-
cided alteration which he has again
and again made in the objects sought
to be attained. Starting out with v1o-
lent energy, to stop all combinations,
the president has gradually abandon
ed one after another of his favorite
windmins, until today a drastic dis
section of his address by the press of
the United States fails to decide in
which direction he is at present rid
ing. although he leaves no doubt to
exist that he is still fiercely afield.''
Then comes a statement of how
greatly the railroads are in need of
funds with which to secure further
equipment (nothing is said of deals by
which money was borrowed and not
used for legitimate purposes) and
how some roads had made arrange
ments to float loans in Europe. Under
the head of Assassination of Credit"
this review continues:
This was the time, with prosperity
at its highest and the credit of the Sc
curities of this country the very best,
that the president of the United States
began his fierce, vindictive and person
ally malicious fight against the rail-
roads,
"As a country, we have been Grip
pied beyond any conceivable estimate
by the pernicious activity of the per-
sonally conducted political campaign
inaugurated by Mr.. Roosevelt, and
joined in by horde of graft and vote
seeking politicians in all the states.
The borrowing of the railroads has
come to a standstill. or is eked out by
high rate, and generally in part I'M
successful, loans at home. 1t has be-
come utterly impossible to borrow
abroad by reason of the breaking of
confidence created by the Roosevelt
campaign. He who clogs the great
wheels Of credit of nation is respon-
sible for the resulting disaster, wheth-
er he be a headstrong, Impractical and
uncomfortable reformer. wild-theor-
led socialist, rampant demagogue, or
dangerous Anarchist. This is what
has been done, and it is well that plain
words be spoken on the subject so
that there need be no mistake as to
where the responsibility lies''
But at the close the review hastens
to say that this is 1.-THE investors op-
portunity," and that 'the man with
money to invest can not afford to take
chances of losing, by hesitation, the
rich reward to be reaped in the future
by buying now" In other words, the
innocent public should buy q few