Evening journal., 1908-06-06

The whole country must sneeze every
time VIII Street takes SNUFF. These
are the reasons why artificial panics
are possible, and must be expected
whenever the "malefactors" desire to
discredit a national administration.
pass legislation to strengthen their grip
on the money supply, seize weaker
competitors for their trusts, or to
fleece the people wholesale In their
great gambling game.
Panic Strengthened Monopoly.
The recent panic was due to artih-
cial and avoidable conditions. And It
enabled the New York, New Haven and
Hartford Railroad to seize cheaply
the Port Chester Railroad. that would
have been a competing line from New
York to Boston. IL wrecked the coast
wise shipping trust that threatened tho
supremacy OF that railroad in New
England. 1t made II possible for the
United States Steel Corporation to alb
lsorb at a low price its chief compet.
ltor. the Tennessee Coal and Iron COM
pany. Il helped other railroads and
trusts strengthen their monopolisgic
grip on the producers and consumers
of the United States. And II has re-
suited in still more concentrating the
control OF most OF the great financial
institutions Of the metropolis in the
hands Of the few masters OF Wal
Street.
Dangerous Power.
II is dangerous. when these hidden
gamblers have the power thus to
wreck industry and paralyze all busi-
ness simply TO further selfish ends.
II Is dangerous. when they can de-
range the currency supply and rob le-
oil "a n
have, by arbitrarily changing the aver
age price-market in a short time TO an
amount aggregating more than the to-
tai OF all the money in the United
States.
II is dangerous, when the laws OF
New York allow them to cause inter-
est rates for call loans to be bid up
on the stock exchange TO 200 per cent
lusing this as the great magnet to
drawn away from local business, in.
dustry aud commerce the deposit saw
lings OF the entire country that they
may be plunged hunting usury or
speculative profits in the deadly quick
sands OF Wall Streets great paradise
of gamblers.
It is dangerous, for these few daring
men TO have the power, sometime, by
mere nod 20 cause action that may pre-
miles OF railroad, paralyzing transport
tation and business and in1uring the
rights of the travelling public. perhaps
only for the sake of an excuse for cut
ting dividends to aid in some great
gambling speculation into which has
been thrown the treasury assets Of
these public common carriers that
could have been constructed only by
aid OF the peoples sovereign power OF
eminent domain. This huge Jusger-
naut Of dangerous powers, that has re-
suited from these years Of consolida-
tion and concentration, is a great en-
CINE OF financial, Industrial. commer-
cial, social and political destruction
that any time may be seized by dar-
ing men, drunk with power and filled
with an insane ambition, and used In
a way TO provoke the people TO revolt
or even to dangerous revolution; for
there is a dead-line beyond which the
American people win not permit Wall
Street 20 go in it's struggle for the con-
quest OF the republic
II is dangerous, to maintain this
. great American Monte Carlo in a civ
iized country TO debauch and wreck
and ruin hundreds Of thousands Of
good American citizens scattered all
over the country; for this vast and
lsickening saturnalia OF immortality.
fraud and crime is destroying the very
foundations of society and OF orderly
government. and driving the republic
straight towards anarchy.
Margin gambling and usurious In
terest rates must be stopped by Law.
J Only thus can the danger OF panics be
reduced, and this land of liberty and
opportunity be preserved unsuilied as
a precious heritage for the generations
of the future, and as a worthy exam
pie OF the beneficence OF republican
government before all the nations Of
the world.