The weekly herald. [volume] (Amarillo, Tex.) 1906-19??, 1908-02-13

lie gamers together all THIS pu-
trescence under the eyes OF the
world, piles II layer on layer, story
on story, adds to II all the suspicion
and mIstrust that he can see In the
air around us In these troublous
times, and, finally browning II with
cloud OF general denunclation and
accusation, presents the whole be-
fore the eyes OF the world with only
the parenthloal statement that there
are still honest men in the United
States and that he does not mean to
hurt them.
would any American, II he had
heard or read such an arraignmept
OF the German people, or the French
people, or the English people, com
Ing from the highest authority In any
one OF those nations, have confidence
In the perpetulty OF that people, or
Its institutions, It's finance. its In.
dustry, or It's commerce? Would he
not lose every last yestige OF faith7
Would he not, after hearing or
reading such an arraignment, moi
once, but ten times, twenty times,
thirty times, despair OF the country
and It's people. and cut every tie that
mlght bind him to It's Industrial and
financial life?
How, then, is II possible for the
President, with the best OF Intentions
and the clearest OF motives, to avoid
the responsibility OF having brought
on this country that deluge OF Amer
lean securities which, for the last
TWO years, and especially since March
1907 has been pouring In upon us
from Europe, smashing values right
and left pa!sylng industries, para
lying credit, undermining conf
dence, causing banks to break, fac
tories to close, and every institution
that was not fortified with strength
for the storm TO stagger on its foun-
datlons, and then to settle back in
stagnant desuetude.
with 100000 freight cars lying
idle; with a. million and half OF
men seeking work which they do not
find; with all buriness curtailed and
many industries dead with Amer-
can securities five billion dollars
down. and banks still failing at the
rate of twenty-five week, cannot
the President OF the United States
realize that explanations OF motives
and intentions no longer even tenn
per his blows?"
All this rant and rot amounts to
without these papers can
show that the statements made by
the President are not true.
II the governing powers OF other
countries do not punish public male
factors or call attention to public
crimes, may It not be possible that
such Indicators and such crimes
do not exist there as here.
No other country in the world
would permit such men as Hartman
and Rogers and Rockefeller and their
Ike to issue millions OF dollars OF
corporation stock that did ont repre-
sent a dollar OF invested capital, sell
i to the great financial trust insti-
tutions at from twenty-five to fifty
per cent OF Its face value and then |
the people to pay rate of
that would enable |
The companies to pay reasonable" |
dividends on the face value OF such
Itocks In fact nearly all the enlight-
aned nations OF the world own and
operate their own railroads.
No other nation In the world has
Is rotten financial system as we
nave and there is none where the
iepositor IS not better protected than
iere in America.
In no other nation in the world do
men pile up such fabulous fortunes
n a few years as they do here, not
~ honest but by dishonest methods
hat other enlightened nations would
lot permit to exist for a single day.
II the country suffers from the ex.
'osure OF these outrageous transac-
Ions II is because no action can or
VIII be taken to correct them until
he public conscience is aroused.
For a quarter OF a century and
more our congress has been com
'osed OF such men as Allison and 4
hepburn. who are as dead to every
ense Of public honor as the Egyptian
who existed in the days OF
he Pharaohs.
Let us hope that such documents
$ the president has just issued will
rouse sucA storm of indignation
. will sweep these salary grabbing
ossils from official positions and
ut in their places men of honest