The Washington times. [volume] (Washington [D.C.]) 1902-1939, 1908-03-24
Wisconsin Member De-
livers Fiery Speech
Against the Proposed
Currency Measure.
Names Hundred Men
Who, He Says, Control
Finances of the
Country.

Senator la Toilette resumed today in
the Senate mis- speech against the AID
rich currency measure. He had spoken
two days last week against the bill. and
had made a very powerful dehuncia-
tion Of the measure and the interests
which he said it would be the effect OF
the legislation to benefit.
His statement in the previous days
speech that less than 100 men control
the business and industrial life of the
country had created quite a sensation,
and had ELECTED more or less violent de-
nunciation and denial in certain quar-
ters,
In the beginning of his speech today.
Senator La Toilette took notice Of the
press comments and interviews on this
point in his previous remarks.
He said: There was no occasion for
the organs and claquers of the 'Sys-
tenn to become frenzied over my state
ment so easily proven by the director
ates of the trusts and combinations
controlled by the System-'5
Says He Was Conservative.
He declared that he had been very
conservative in placing the control Of
the consolidated industrial, Transports
ton. and financial interests which are
dominant in this country in the hands
of the hundred men whom he had
named. He said he had made the list
too large rather than too small. He
cited 5. s. Pratt, editor Of the
Wall Street Journal who ia an article
published two years ago IN a magazine.
placed this power IN the hands Of only
seventy-six men, holding at that time
sixteen hundred diTeCtOrshIps in the
trusts and combinations Of the country.
The Senator showed on authority Of
John Moody. an eminent authority in
Wall Street on all corporation and
stock exchange affairs, an enormous
growth in trust consolidation and capi-
tallzation in the past four years. -Four
years ago Mr.. Moody, in an exhaustive
work on Trusts had placed the capI-
taliZaJlOn OF the combined Industrial
franchise, and railroad trusts at over
$4,000. 000.e In the Eour years just
passed the +otaI has increased. accord
ing 10 Mr.. Moody more than SlI. .01J,000.- 20
900, or more than 55 per cent. This S3l, -
00O,OOJ-0G0 OF trust capitalization in 1905, %
declared the Senator, does not repre-
sent all the corporate power in these
few men, Ii does not show their tiuau-
ciaI combinations, banks, trust compa-
MES, and insurance companies"
List Of Men.
Then Mr.. La Toilette took up the list
Of the 100 men which he had laid before
the Senate, and analyzed and classified
il. and showed where the control really
rested. He said: Along with this
enormous increase in trust power has
gone a steady process OF Capitalization
in the control of that power. Until now
the entire situation IS dominated by
the Standard Oil-Morgau combination.
The old fights between these two great
powers have Seen LAID aside Ar. Nor
gan's picture adOTns the wall of the
inner room Of the ROCkefellers at e
Broadway. In combination today, they
are working together TO gather in the
smaller powers. MIR. Hin has been
taught that he must not oppose The
big ones. Standard Oil got in on the
Great Northern ore deal
me Gould interests are being swal-
lowed up by the combine. Morse and
HelnZe were neatly pocketed during the
recent panic The Smelter trust was Civ
en- a drubblng and started in the same
direction. Ine Nanderbilts can no long
er retain their important control and
themselves see the handwriting on the
wall"
Mr.. La Toilette then went on Ia
analyze his list. IL was evident that he
had inside information, and he handled
Continued on PAGE TWOD