Twice-a-week plain dealer. (Cresco, Howard County, Iowa) 1895-1913, 1908-06-16
Official Paper Of City and County.
Bowling to the Golden Calf.

DUWluS " luC OUAuCA SoAs
1t is not surprising that, after all, in
the closing hours of the session, the
republicans of congress are yielding, in
a panic of distres and confusion, to the
aggressions of the national banking in
terests.
The record of the republican party
has been one long series of yielding
governmental powers to the bank mo-
nopoly; of sacrificing popular interests
to the fathomless greed of the finan-
ciers whose generous contributions to
republican campaign funds make re-
publican success possible.
But never before has even the re-
publican party prostituted itself so
shamelessly and publicly before the
big bankers.
In the emergency currency" meas
ure which has finally been agreed on,
the vicious features of the odious AL
drich bill have been combined with the
equally vicious features of the equally
odious Vreeland bill, and all the bank
ers-except the little ones!-have been
given everything they asked.
Under the terms of this bill the big
New York banks may combine to force
a money stringency, and. having forced
it, may then flood the country with
their shin-plaster money" based on
water-logged railroad bonds, ornotes of
hand, which currency is to be backed
by government guarantee! They can
issue hundreds of millions one week
and may retire every penny of it, if
they wish, the next week! With this
tremendous power granted them, they
can 'tbull" stocks when they want
them "bulled," and ''bear" them wher
they want them "beared." They car
play the market any way they need it
and by consequence stuff into theil
capacious maws the honest fortunes O.
honest men.
Mr. Rockefeller's big New York bank
and Mr.. Morgan's, and Mr.. Ryan's
can, if they wish, act independently o
in unison. They can each use sepa
rately the railroad bonds their master
own, and make them the basis of
currency they issue, and the govern
ment guarantees. They can pay inter
est at the rate of 5 per cent on thi
currency for couple of months, Will
loaning it to the people at 10 per cent
the peoples currency, while the people
through their government, guarantee
But the little banker, out west, ha
no such privileges or opportunities
He has no millions of railroad bond
on which to issue currency. He mus
combine with dozens of other littl
bankers into an association, sharing
their risks as we'll as his own, befor
he can issue brick-bat and shln-plaste
money. Banking capital and surplu
to the extent of 5 millions of dollar
must be represented in such an assoc
alton.
Outside of Omaha and Lincoln, no,
many Nebraska banks would profit b
the law?
What can any Nebraska bank do bu
sneeze when Morgan's bank and Rookie
feller's bank take snuff?
But-when the snuff is taken-whe
commands are given-then they mus
all scurry to cover! They must frs
give preference to Wall street; stan
by while Wall street takes all
wants, and then, with the driblets, tn
crumbs from the Wall street table
must do what Wall street demands!
When the distressed farmers aske
the government to loan them money O.
their cotton and wheat-that was tpop
ulism," and 9paternalism.
When the government loans tn
plutocracy's banks money on thei
watered railroad bonds, or thei
customers notes of hand; loans it a
low interest to be lent by the banks t
the farmers and the business men a
high interest-that is republicanism
and sound finance, and craftsmanship
How long, o Lord. how long!-Omah
World Herald.
Staggering War Expenditures.
In the six years last past expend