Ottumwa tri-weekly courier. [volume] (Ottumwa, Iowa) 1903-1916, 1908-03-10
circulation although was ready to
pay a higher price than Mr.. Morgan's

how easy it is to make millionaires
when our finances and everything
else is thus mixed up with politics and
heroes. And how easy to follow
these heroes by keeping them in the
lime light all the time.
Does Not Agree With Shaw
! see 1t reported In the papers that
Leslie M. Shaw, former secretary of
the treasury, would like to see j. P.
Morgan president of the United States,
that he says If Mr. Morgan were
president of the United States,
he would rank with the best of our
executives. That he did not regard
Mr. Morgan in the holy light that
some people throw around him. Mr.
Morgan exacted two dollars for one III
collateral for every dollar that was
given to the Wall street banks to
keep them from going to the wall,
but he said | know the man and adj
mire him and if he We're president he
would fill the place as he has filled the
financial niche, as the biggest man in
the country. | hope for the credit of
the country that this interview Is
not true, as reported, but only the
imagination of some active Drained re-
porter.
1t Is to be hoped that this congress
will do the sensible thing in this re-
vision of the currency medium and
recognize the fact that gold is the
standard of all credit and always has
been since civilization began. Stop
this crazy quilt patched up currency
that we have been at work on ever
hn 1s,,,1 r>>1,z
ment entirely out of the banking bust
ness except to coin gold and silver
regulate and control the use of the
same and establish the ratio be-
tween these metals and control the
use Of them.
State Guarantee for Saving Deposits
We are told by the treasurer of the
United States that we have today over
one billion of gold in the treasury and
banks of this country. | have heard
farmers say that they sowed rye to
fatten their hogs on, but that when
they turned their hogs into the rye
nelds, that they were such fools that
they run themselves poor in hunting
for something to eat in these abundant
rye fields. So today we are so scared
for fear our prosperity is going to
leave us that we are running all over
Canada to find some pan of elastic
currency that will feed us when the
next panic comes. Now would advise
to be quiet and do the right thing
by dropping all bonds as a basis for
money and stand by Gods wisdom
when he told his children in the be-
ginning where to find gold and indi-
Gated what it was to be used for as
we advanced in trade, commerce and
civilization Instead of legislating to
insure all deposits in all banks as Mr..
Bryan claims should be done and
which he claims was a plank in his
PLATFORM that he advocated twelve
years ago while he was in congress
and a plank which he says the ad.
ministration is trying to fitch, with
other good things, from him. But let
us do the sensible thing and have the
state insure all savings deposits of all
her people. There is nothing more
pathic than to see women, children
and those unaccustomed to business
nave their savings deposit swept away
by fraudulent or mismanaging bank.
er, The state should be responsible
IN some way and make good all such
deposits to the depostor
Arrogance of Wealth to Blame.
We are living In strenuous times
and II we would have our government
endure, we must cut out a good many
evils that through the self1shness OF
human nature and desire to get rich
quick have crept into it, We are get
ting too many millionaires In our
make up. They seem 10 think they
are bigger than the government and
can do anything with impunty, that
they choose to do. Long continued
prosperity coupled with selfsnness is
largely responsible for all this, and !
think the most menacing threat that
we have to deal with is: the over
abundance of millionaires who think
they are bigger than the government
and want to do as they please in all
financial affairs and they come very
near doing SO today
All banks seems to be strivinb to be
as big as the government In these
times, they kite their reserves all over
the country from one reserve CITY tt
another and thus make show or biz
banks, when in fact it is only a false
pretense and multiplication of de
posits. All this should be stopped
and all banks required to keep theil
reserves in their own vaults and that
in specie.
hope this congress will stop this
hunting through the rye fields fol-
prosperity and recognize the fact
that there is no bread to be had unless
1t comes from the ground and that
unless Wall street sweats for this
bread, some one else must do the
sweating for them for "the crown OF
thorns" must be worn by some one.
Congress should get the people
back to their normal senses and know
that there is no money, but the recog
nized money of the world, which is
gold, In all civilized countries. Legal
tender and lawful money creations by
, mortal man will not stop the selfish
desire of humanity to hoard money
and until we can be brought to recog
n1ze these facts, panics will 60 on and
we will continue to grapple here and
there for something that will hold
prosperity with us.
w. B. Bonnifield.