The Ogden standard. [volume] (Ogden City, Utah) 1902-1910, 1909-10-25
WALL STREET ORGANIZED
CENTRAL BANK SCHEME

New York. Oct 25.-Alfred o
| Crozier, the Wilmington, Della, author
| who Is probably one of the best post.
| Cd students of finance in the United
| States, declared today in an inter
view that the plan for central gov.
eminent bank originated in Wall
street, and not with the national
monetary commission, of which Sen.
ator Aldrich is chairman
"As early as the winter of 1907"
said Mr.. Crozier. 81 was advised by
Wall street friends that a movement
was on foot 10 set up central gov.
ernment bank. AT that time | had a
lengthy talk with President Roosevelt
on the subject. and made is as plain
as day 10 him that the projected bank
was nothing less than a cleverly ar.
ranged plot by speculative Wall street
interests, who would secure even a
more absolute control OF the entire
currency supply of the country than
they enjoyed The scheme was knock
ed In the head for that session of
congress. and now with new
president Wall street is trying the
trick over again.
1T is really humorous to note tho
coy manner in which Wall street In
forests arc allowing information to
leak out. AS a matter of fact. this
deal, the prize bunco game of Amer.
lean history, calculated TO place the
entire control OF the nations currency
In the hands OF a Wall street com.
pany, has been completed for months.
Fearing the uproar that would have
been certain to result had the entire
scheme been sprung on the public at
once. the men engineering the deal
have been shrewd enough to spring
their plans by strategy The news
sent out recently that the monetary
lcemmission 'appointed by the last
congress had decided that a central
bank was necessary. was merely
feelcT.
"Of course there has been no open
talk of Wall street control of tho
projected institution. Such a thing
would be fatal The plan Is for a
bank with capital stock privately
owned. In my opinion no possible
scheme could be devised which would
prevent Wall street from gaining con.
troll of bank with its stock Issued
us Is planned, You may depend upon
IT that every effort Will be made by
Wall street interests TO surround the
entire matter with such a wealth of
technicalities that the public Will
refuse TO pay any attention to
the scheme. A central bank would
give the big banks entire power to
issue and withdraw the money OF the
country, And this is the power TO [
make and unmake panIcs.
Wall street saws VIC need elastic 4
Possibly SO But We must /
have elasticity under n system that
will allow the natural law of supply
and demand of business, or the re.
sponsible government OF the people,
regulate the elasticity. and not Wall
street
The tendency 10 centralize money, I
like the tendency to any other mono
poly. Is contrary to the best interests
Of general prosperity The only bene.
hclarieS of n banking monopoly arc
the mouopolists. Every other sec.
ton of the community suffers. ANY
scheme 10 establish a great central
bank is step toward banking mono
poly. Nothing can prevent such q
0ank ultimately coming under com.
,lete control OF the great captains OF
nance who. through il. would have
he nation by the throat. Wall street
viii control this proposed institu.