Evening journal., 1908-03-06

OF emergency money. all printed and
ready for their use. IN their frequent
and frenzied gambling struggles, at the
height of the game. they will borrow
this money through their banks Of the
public treasury and win the contest
by hurting its crushing weight against
the speculating public. And they will
get IL at per cent, and as long as
they want t., while they cause their
banks to charge the deluded public
ten per cent to 200 per cent for money
loaned only on call viii Congress
thus make the government OF the re-
public a willing and effective instru-
ment for spoliation Of the people
through crooked stock gambling? The
Aldrich bill would make It servilo
annex Of wall street. Instead, il
should prohibit margin gambling In
interstate commerce securities use OF
the malls and telegraph for such busl-
ness. and national banks charging
usurious rates on call loans.
New York has full power to stop
these evils, which do not benefit the
country a dollar, but curse and ruin
countless thousands, causing suicide
and crime wholesale.
Mas Panic Prearranaed7
Like the cry Of stop thief,
/ Wall Street is now loudly shout
I ing that II was a Roosevelt panic"
This wicked untruth is being systemat-
ically circulated among the discharged
worlSmen OF the country as the reason
/ for the prevailing paralysis OF industry
This IS being done by disnlhed railroad
! presidents and trust managers 70 discredii
the President and his progressive policies.
with all the enormous power at their
command, their corporations are now In
I politics seeking TO cause the election OF
a President who VIII serve them rather
/ than tho people. One who viii shield in
corporated lawlessness from punishment
for It's lawyer-planned crimes. These ac-
I tions are strong clrcumstantal evidence
that the panic was not accidental That
Il was TO be the effective instrument f0r
accomplishing these desperately desired
things That the country Is to be plnehed
into forcing Congress to give them the
currency laws they are now demanding
For Il was known more than a year asc
that Wall Street would try to push AZ
measures through this Congress. And
many believe that this very legislation
the Aldrlch bin and the central govern.
ment bank scheme, is intended to dis
credit and defeat the party In power, be
cause the people know that these meas
ures are for the exclusive benefit Of sucl
special interests.
There are two great parties In Wal
Street The Aldrich bill Is said TO be the
measure OF the Morgan party The cen
tral bank is the scheme OF the STANDARD
OH party. For a time each fought th'
others measure. Now they are said 4
be united for both bills. The presenc'
Of Mr.. Morgan and President Glover d
a Standard OH bank sitting together il
the gallery OF the United States senau
and mutually approving the speech o
Senator Aldrioh Tor his measure woul'
seem TO confirm this view. Mr.. Glover
interview In New York Herald OF Feb
ruary n, sos, reads like the threat Of an
other panic II Congress refuses TO pas
the Aldrich bill.
sives Wall Street Panic Power
Each bin seeks to take from the gov
ernmont and put into private hands IN
dangerous power arbitrarily TO initiate an
contract the volume OF the public cur
b rency This IS a power with which panic
could be created at will BY maxim
D money plenty speculation could be stn
= ulated. quotation prices advanced. Who
9 those manipulating the game have uI
8 loaded on the public at the top, and ha'
s. sold "short" in anticipation Of the drS
they know viii come. they easily Ga
wreck and force down quotation pricl
I by suddenly contracting the public Gu
rency and making money scarce. The
win profit both ways. at the expense
, the public. This power OF contraction ca
! also be used 70 raise interest rates an
q lower prices Of property and labor.
4 could be employed TO terrify and dominai
} the outside financial institutions OF n
Z entire country through fear OF panl'
b and runs They can thus be forced
< tighten the screws on Industrial and con
T mercial borrowers by calling In loans,
be prepared to meet possible runs
| frightened depositors. This power cou
be SO used by the few dominating maj
, iers OF the Wall Street machine, that SOC
they might own the entire United Siat'
In fee simple
q Half All Money May Be Destroyed.
D When the people recently contracte