The Leon reporter. (Leon, Iowa) 1887-1930, 1908-06-18
BoWlNG TO THE GOLDEN CALF.


the closing hours Of the session. the re-
publicans of congress are yielding, in
panic of distress and confusion, to the
agggressions of the national banking
interests.
The record of the republican party
has been one long series of yielding
governmental powers to the bank
monopoly; of sacrificing popular inter-
ests to the fathomless greed of tinanciers
whose generous contributions to repub-
lican campaign funds make republican
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" measure
which has finally been agreed on, the
vicious features of the Aldrich bill have
been combined with the equally odious
Vreeland bill, and all the bankers-ex-
cept the little ones-have been given
everything they asked.
Under the terms of this bill the big
New Yorks banks may combine to force
money stringency, and, having forced
it. may then flood the country with
their shin-plaster money" based on
WdCSE-lOSSSd IdllTOdu UOuuS, Ut uOUGS OIL
hand, which currency is to be backed
by government guarantees! 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 "bull" stocks when they want them
"bulled" and "bear" them when they
want them cleared" They can play
the market any way they need it, and by
consequence stuff into their capacious
maws the honest fortunes of honest
men.
Mr.. Rockefeller's big New York bank,
and Mr.. Morgan's, and MIR. Ryan's, can,
if they wish, act independently or in
unison. They can each use separately
the railroad bonds their masters own,
and make them the basis of currency
they issue and the government guaran-
tees. They can pay interest at the
rate of five per cent on this currency
for a couple of months, while loaning it
to the people at ten per cent-the
peoples currency the people,
through their government, guarantees
But the little banker out west, has nc
such privileges or opportunities! He
has no million of railroad bonds or
which to issue currency. He must com.
bine with dozen of other little bankers
into an association, sharing their risks
as we'll as his own, before he can issue
brick-bat and shin-plaster money. Bank
ing capital and surplus to the extent Of
five millions of dollars must be repre-
sented in such an association.
| Outside of Omaha and Lincoln, how
many Nebraska banks would profit by
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-whel
commands are given, then they mus
all scurry to covert They must first
give preferences to Wall street; stand b,
while Wall street takes all it wants
and then, with the driblets, the crumb
from the Wall street table, must d.
what Wall street orders!
When the distressed farmers aske
the government to loan them money O.
their cotton and wheat-that wa
"populism," and "paternalism."
When the government loans the plu
tocracy's banks money on their watere
railroad bonds, or their customers note
of hand; loans it at low interest to
lent by the banks to the farmers an
the business men at high interest
that is republicanism, and sound finance
and craftsmanship!
How long, o Lord, how long!-Omah
World Herald.