The Dawson news. (Dawson, Ga.) 1889-current, 1908-02-26
HETTY GREEN SAW PANIC
COMING THREE YEARS AGO, AND
PREPARED HERSELF FOR 1T.
Inflated Values Is How She Accounts
for II. Folks Were Living Too
High for 1t To Last.

nigh IOG 81 W iusi.
Mrs Hetty Green. the richest wo-
man in the world, ip an interview
on the business depression through
out the country, said
II saw this situation developing
three years ago, and | am on record
as predicting it. / said then that
the rich were approaching the brink
and that panic was inevitable.
There were signs which ! could not
ignore Some of the solidest men
Of the street came to me and wanted
to unload all sorts of things, from
palatial residences to automobiles.
The New York Central negotiated
with me for big loan, and that
made me sit up and do something,
for that road is one of the wealthiest
in the world.
There had been an enormous in
hation of values, and when the UNI
loading process was begun the hold
ers of the securities found great
difficulties in getting real money
from the public. The stringency was
felt by the big brokers and manipu-
lators long before the people had
any inkling that such a condition
existed.
IL saw the handwriting on the
wall and began quickly to collect
my money making few new trans
actions and getting into my hands
every available dollar of my fortune
against the day | knew was coming.
Every real estate deal which | could
possibly close up was converted into
cash | never buy real estate. First
mortgages are good enough for me-
When the crash came | had mon
ey and ! was one of the very few
who really had it. The others had
their securities and their values.
had the cash, and they had to come
to me- They did come to me IN
droves Some of them | lent money
to and some | did not That was
my privilege. Those to whom !
loaned my money got 1t at per
cent | might just as easily have
said 40 per cent, but never in my
life, no matter what has been SAID
against me, have / practiced usury,
and no one knows 1t better than the
wealthy men who have had business
dealings with me.
Refused Vanderbilt Diamonds.
aside from the 'financiers' ]
went to the relief of many others
engaged in legitimate business
Nearly all the big department stores
in New York came to me and
loaned them money. Harry Payne
Whitney applied for loan OF ST.
900 900 and let him have it,
II loaned money to the New York
Central, but when the Vanderbilt
family applied refused them. They
came to me some little time ago
1t was before the wedding
brought a box two feet long contain
ing the famous Vanderbilt jewels.
They wanted me to take them as
security and lend them money. But,
Lord bless you, / know nothing
about diamonds and such things.
Those jewels may have been worth
all that was claimed, but ] do not
deal ia diamonds. / know few
things about real estate mortgages,
but not jewels / have no use for
them in my business.
Money is easier than It was a
spell back, as every one knows.
Why shouldn't it be after the rain of
governmen dollars which CorteIyou
poured nto the banks? But that
is mercy fist aid to the injured.
It does not correct the evil.
'Fs9 rd tines ere bound to continue
until after election, and then what
will happen 10 one knows. Ulti-
mateiy the financial situation will
ad. ust Itself but lot on the past in
cd LASTS
"A good mary things contributed
to the los of confidence, Roosevelt
Is partly to blame, but not wholly.
In my opinicD the president has not
made good. What world you thir
II ! were to say every Jay for years
that / was going out and kill a musk
rat, and then never did it? What
has he accomplished aside from help
ing to create the present situation?"