The Idaho recorder. [volume] (Salmon City, Idaho) 1886-1927, 1907-11-21
FEDERAL REGULATION.

our president says he wants the
railroads and the trusts controlled by
the government Just like the govern
ment controls the banks. Even
though the entire nation may agree
With him In his Capitalization Ideas
some viii object to his comparisons
There has evidently been wonderful
change within the past few weeks In
tho mihds OF many as to the wisdom
OF our banking system, and u is
questionable whether IT, would be adj.
yisable u have the gigantic corpC ra
lions controlled the same way. We
are justified In thinking that the
government IL controlled by the banks
In place Of tho banks being controlled
by tbs government. From the man
ner In which government money was
poured into Wall street at the behest
OF the gamblers II looks as II the
banks had side partner In the con.
trolling business IN the shape Of the
Wall street pirates.
Our banking system might be all
right III an effort was made by the
treasury department In seeing that
the inspection OF the banks was not
the yarlest farce. The banking laws
have been violated with IMMUNITY by
the big Wall street Institutions. The
local deposits as well as the deposits
OF Western banks have teen tied up
In Wild speculative loans, and 1t was
this plunging which was the cause OF
our troubles, yet the government
never lifted tnger until the crash
came and there was no way To stop It
II Is against the banking law that
national banks charge a usurous rate
OF interest, yet thiSis Just what was
done 10y the New York banks.
OF course the defenders of our pres.
ent banking system say that New
York City Is the heart of the system.
aud II was necessary for the govern
ment 20 40 TO the reliet OF the gamh.
lets la order To save national panic
IL Is generally dlspleasing to the
West that other sections OF tae coun.
TRY did not benefit by tho dumpage
Of the government funds. Nutwith,
standing tina, Western hanks have
millions OF dollars In tho Gotham
banks, yet the Eastern money chang
ers thinks Il Is preposterous for the
West 20 ask for that which Is its
own.
II Is said that southern banks are
unahle 10 loan money on warehouse
cotton receipts, and the result Is that
the cotton grower Is forced 10 sell his
cotton At less Of $50 millions.
lAoes II not look as II the goyefument
would soe rxvrCisirg more judgment
la endeayoflue to protect The actual
( producers Of the wealth OF the ma.
ton In place of protecting the Hcti.
tlous wealth ~ tae gambling para.
sites ol Wall street, Vet rs soon "A
The Macedonian cry went up over
two hnutsed millions was dumped
into the VAL street malSlrom to save
the spectators. This Was done in
face 1T the fact that large per cent
~ tie deposits of these banks was
trum the tanks OF the West aud
South.
II the Western aud Southern banks
saw any OF these government funds II
would not be necessary tor the most
OF them 10 bs issuing cashiers cheeks
Ia relieve the situation. To dl,rrs>
E from the subject OF government regu.
latiou the manner Ia which our pres.
ldent congratulated Morgan aud
( Rockefeller Tor saving the eountr,
will strike the vein OF humnr In the
/ thinking mau. pf course 1t was a
very easy matter FOR these great
iinanciers t. 20 10 the relief of Wall