Staunton spectator and vindicator. [volume] (Staunton, Va.) 1896-1916, 1907-12-06
ANNANlAS is NOT DEAD.

New York, Nov. 29.-All over the
eastern half of the United States, from
Kansas City 10 the Atlantic Ocean,
Industry is IevlVing from the blow IL
sustained as a result OF the recent
panic. Many factories have resumed
operations, wholesale houses have
stopped cancellDg their oIders, banks
which were crippled are reopening the
rail- Dads which laid off thousands are
beginning to put the men back to
work, great building projects have
been begun, and new corporations
have been organized.
No bigger lie was ever uttered, not
even when Annanias missJated the
price of the land he had sold. The
panic started in New York, it has had
it's storm center in New York, and now
New York is trying to get people out
of their present frame of mind into one
of quiet, comfort, rest and confidence,
New York has big job on It's hands
Not one factory in thousand closed
has resumed, and hundreds are CLOSING
daily. Look at the great Westinghouse
ants in Pittsburg; smashed because
the bankers refused to furnish SAFE, 900
Here is dispatch sent out the same
day as the above. Read this one:
New York, Nov. 29.-Ths refusal OF
great house of International bankers
to furnish $425, 900 was the immediate
cause OF the failure of the Immensely
profitable estinghouse Electric and
Manufacturing Company early in the
financial distur bance, which material
ly accumulated public distrust.
The inside facts of the failure have
been slow in coming out because its
officers did not wish to aggravate the
financial disturbance by showing how
a great manufect uring company with
its doors OyeIcrowded with profitable
orders could be driven to the wall by
the single act of firm of Wall street
bankers.
We hear Mr.. Morgan called the ''un.
crowned king" in praises heaped upon
him for relieving conditions. The
only relief we have known him to give
was to relieve the owners of the Ten
nessee Coal and Iron Company of their
property and take it unto himself,
when no doubt he breathed sigh of
relief. The Westinghouse Co. could
have been saved but for some jeal-
ousies between the aforesaid bankers
and j. P. Morgan, whom they were
overshadowing. These International
bankers had plenty of money, indeed
the officers OF the estinghouse com
pany have since been told that at that
time. the Golfers of the bank were glut-
ted with money: that the members of
the firm had devoted all their energies
to strengthening their own position.
They were told that to advance the
$425, 900 needed would lave been an
Insignificant matter because of the
millions of ready money the firm had
stored.
The Westinghouse Manufacturing
Company went to the wall on October
90, carrying down with it the West.
inghouse Machine Company and the
Security Investment Company.
Every day New York sends out lust
slch rot as that contained in the first
quoted paragraph. This makes us
weary. Ii a Democratic administra.
ton were in power and conditions
were as they are things would sound
differently. We will gladly welcome a
return of better times, but we are
from Missouri, and do not guIp down
just any and everything found inN.Y.
newspapers. We are going to proclaim
the truth of the situation. 50 mucb
of untruth was told in 1896, and has
continued to be told ever since, we can.
not sit idly down and seem to believe
what is being said. No Democratic
administration could have been so
rotten as the existing one No condi.
tions brought about could have been
more deceptive and dishonest. Those
wao preached Marx Hanna and Me.
z uley, and denounced the Democrat.
lc platform in 1896, and secuted Mr..