The Washington times., 1908-02-13
Alfred 0. CrOzier OF Viii
mington, Del, Asks
Congress to Defeat
Currency Bill.
Senator TiIIman Presents
Document Declaring
Three Men Would
Rule Business.

Claiming that the AIdriCh financial
bill is drawn solely in the interests OF
Wall Street, and that Il puts in the
hands OF three men-Morgan, Rookie
teller and Ryan-the power to create
panics and 10 contract or expand the
currency Of the country to the extent
OF Sl00,00o,000 or more at their pleasure.
and 10 their personal profit and ad-
vantage, Alfred o. Crozier. OF Whining
ton, Del, a lawyer and student Of
finance, in a sensational petition TO the
Senate. demands the defeat Of the bill.
His petition was presented today by
Senator Tuiman.
Mr. Crozier says that the individual
wealth OF half dozen powerful game
sters Of Wall Street is enough to create
q corner in gold, so that they could
demand any price therefor from those
who must have the actual gold to pay
The vast quantities of maturing bonds"
Bill for Contracted Currency.
According to Mr.. CrozIer, the Aldrlch
bill is not measure for an elastic cur
rency. but one for a contraction cur
rency, and so is The bill for q central
bank Both wish to take from the
Gove-nment and put into private hands
pand the public currency suddenly in
large volume he says IN his petition.
This would enable them to manipulate
at will the prices of listed securities,
property, and labor by simply making
money scarce or plenty. They could
then create paEics 10 terrorIze country
banks and force them TO call loans and
hoard money for safety. destroying gen
eral credit and wreclCing industry. Do
the 1900 bankers Cf the country desire
10 be always at the mercy Of such
men?"
It is declared the biggest Joker In
the Aldrich bill is the one that wipes
out entirely the restriction I'm the ma
uonal banking law on the amount OF
currency bank note and emergeCy that
may be retired in any one month This
makes IL possible asserts Mr.. CrOzier, /
suddenly 20 contract and destroy the
entire $IU0.Olo,000 bank note currency and
also the S50O,o0O 000 emergency currency,
or q total Of Sl,300 100000 Of currency
used by the people as money. Sudden
contraction OF but $50OO0,p0J available
money by bank depositors. recently
caused fearful pan!c and alarmed the
whole country"
Risk Of Treasury Control.
The risk involved in leaving the /
amount of circulation TO be retired 10 I
the Secretary of the Treasury was |
pointed ont by Mr.. Crozier in the fact 1
yhat most Treasury officials leave the I
public service to 90 with Wall street !
banks paying $4,000 10 $4,000 salary. |
They could not do this if their conduct /
in public office should displease such in /
IereSts.'
According 10 the CrOzier petition, the /
''lawless and relentless masters Of Wall /
Street are trying hard 70 promote the /
legislation found in the Aldrich bill. !
II will give them a stranglehOld on the /
money supply"
The power that would be given the /
three big Wall Street banks, dominated |
By Morgan, Rockefeller, and Ryan. the 1
City National, First National. and Ma |
tiOnal Bank Of Commerce, under the Al |
drich measure, It was pointed out. would /
be terrific.
Mr.. CTOzieT gives voice TO the belief
mat Wall Street is seeking to elect
Bryan providing IL can get the Aldrich
Dill. The election OF Bryan would block
progressive legislation and would in
nict revenge on the Roosevelt regime.
In discussing the situation TODAY. Mr.
CrOzier pointed out that il was notice
q bic j. PieTpOnt Morgan sat in the gal
lery at the Senate when Senator Al
aTich opened the currency debate and
nodded approval TO what the Rhode
1Aland Senator said