Little Falls herald. [volume] (Little Falls, Morrison County, Minn.) 1889-1950, 1909-12-31


Bryan 's9 Commonor: The people
have another fight ahead. lheaf
tinanciers nave decided that they can
cbarce congress into creating Il central
bank to manage the government
money matters, and are. going to make I
the effort. Possibly tho presidents !;
advocacy Of &c may explain the sudden
collapse OF Wall Street 8 opposition to
Taft's nomination. At anyarate |
the Napoleonss0fs finance are not will.
lng TO risk delay the next congress
may be democratic. And then there
will be changes In the senate and
these are, likely olessen Wall Streets |
control Of that body. Now is the !
tiine,; they think, and the ,acqulescence
of 81 majority OF the republicans in the
AldrtCh plan5 leads them to believed
that the rank AND til4sof the republican
party villa tolerate anything. But
will they1 .s.
The STANDARD Oil trust lost its tariff
On oil ana the steel trust came near
losing its tarif on iron ore. The new
telegraph telephone merger ia giving
the people a.shock, and the demand
for ship subsidy Is making them sit
up and take notice. This may not,
after all, he an 0ppOItune time to
launch y gigantic bank monopoly.
Senator Aldrich has had his swing
around the circle and met the local
hnanciers who hope to represent the
bank in their respective communities,
but what about those who will be
left out in the cold1
A central bank does not tit into
our institutions; it Is q foreign idea
and can not be brought into
harmony WITH our instincts and bust
ness methods. It would destroy all
Independence in the banking world.
" In Canada they have branch banks but
they have number of them and COM
lpetition still exists, but even there the
business man suffers an inconvenience
In having to have his paper passed up.
on by an outsider and the depositor
runs the risk Of having has money used
to build up some other community.
| With a great central bank all COM
petltors would become tlmld lackeys,
afraid to offend, to say or do anything
that would displease the officials of the
big bank. With a great central bank
the money would be gathered up al
the extremlties and poured into the
commercial centers The deposltort
would soon find the interest reduced on
deposits and the bank would increase
its profits from both depositor and
borrower for there would be no com
petitor who would dare to pay more Of
charge less than the central bank. No,
only would such a central banl
dominate but 1T would control polite.
as we'll. Nick Biddell told President
Jackson that it would elect or defeat
presidential candidates and the hero o.
New Orleans replied with an oath tina
if it could it had more power than i
ought to have and more than he wa!
willing for it to retain.
| If central bank is created it is onl.
J a question of time when Its tyrann!
: will become unbearable. But VIII!
4 invite such conditlon2
Now is the time to fight the contra
bank idea; every newspaper should
warn It's readers; every voter sh0ulc
y write to his senators and the membe
+ :ot congress- protesting against tn
I whole scheme. The smaller bank
!. should array themselves against 1T
The advocates of the central bank arr
. using the corporation papers tt
Q mislead the reading public; it is hlgI
r time that the patriotic forces wer'
j. aroused to the danger. The plans o
: the bank monopoly must be defeated.