The White Pine news. [volume] (Ely, Nev.) 1906-1910, 1907-11-13
TRUTHS PLAINLY TOLD.

the Brooklyn Eagle, which, incident
ally, lets in some interesting light
on certain phases of the late dis
turbance in financial circles. The
Eagle says:
A few days ago depositors who
were dazeG were told that they were
crazy, that they were adding fuel to
the fame of disaster, that withdraw
ais were a species of lunacy, with
more to the same effect This was
true enough, but sheep have no mon
opoly of their characteristic tend
ency of trait-susceptibility is not
altogether quadrupedal Asa mat
ter of fact, it would have been
strange had there been no longer
lines to aggravate the trouble. The
occupant of a home who does not
take fright at the discovery of dan
ger of cremation is exceptional.
How did others acquit themselves?
What of some of the bankers? What
of some of the men from whom, be-
ing charged with great responsibility
much was expected? They were, SO
to speak, in charge of the fire. And
candor compels the admission that
not few of them had little or moth
ing to gain by comparison with the
demoralized depositor. Doors that
should have been kept open were
closed. Borrowers who should have
been protected were sold out. Inter
ests that had long been mutual were
sacrificed at a moments notice.
Judgment corresponds. 1t is
easy to make allowance for the de-
positors, for the natural impulse to
which they responded, but the banker
was not and is not in their category.
The financier who participated in the
stampede, instead of contributing to
the restoration of reason did infinite
ly greater harm than any of the long
lines had the power to inflict. He
was tried and found wasting. He
resembled only the coward captain
who fights with women and children
for a seat in the boat when his ship
is sinking.
There are others. Why should the
mayor of the city proclaim his de-
termination to sanction no new. con-
| tracts? Why should he imply such a
want of confidence at the time when
all the force of his example should be
exerted in the opposite direction?
And why should the city authorities
have made large Withdrawals just
when the strain to which they thus
contributed threatened to eliminate
in great calamity? They will have
trouble in answering the question to
any satisfaction but their own.
The inquirer who goes further
! fares no better. The state controller
headed the stampede From institu-
tions which had trouble enough he
withdrew millions, which is just
what would have been done by ma
| lignant who wanted to make havoc
and who had the power to make as
surance of wreck and ruin doubly
sure. Nor did some of the federal
authorities acquit themselves more
| creditably. 1t is compliment to say
that they acted like sheep. they be-
came invertebrates.
This still applies. AS rule, the
custom house accepts certified checks,
but it now demands legal tender. For
internal revenue stamps such checks
have been deemed good enough, but
nothing but money will satisfy it
now. So, while the secretary of the
treasury dealt like a giant with the
colossus of calamity, the pigmies of
the custom house and the lilliputians
of the internal revenue department
are exacting impossible conditions
they are obstructing the turn of the
tide of disaster.
Last, but certainly not least, comes
the ancient grudge between the
banks and the trust companies.
There were those who tried to feed
1t fat in the hour of emergency
Later on, that story will be worth
telling. Just now, the time is not
propitious. Just now, the time is OPP
perfume only for saying that some
of the bankers are still travelling on
the track of narrow gauge, which is
to say, they are demonstrating in
firmities of heart and mind They