Weekly independent. [volume] (Elko, Nev.) 1887-1914, 1910-03-04

j. Pierpont Morgan goes the Col1ss rs
one better. and besirides the American
republic. 1t is almost funny to read in
the New York and Chicago papers
those generally accepted organs of
plutocracy-that Morgan is more than
a Colossus. For instance. the Chicago
Tribune printed prominently on its
first page. Monday, the facts and figures
to show that Mr.. Morgan controls sic,
900. 900. 900 of the national weather.
one-tenth of the grand total.
BY the same token he controls a much
larger proportion of that part of wealth
! which does not consist o: farm property
and which i. AT the same time. avail.
able for use in the production of more
wealth. 1t would be interesting. in.
deed, if some statistical expert. with all
the information at hand. would figure
out and give to the country the facts
rs to approximate proportion of the
national capital-wealth that is not in
land, or in process of consumption by
personal use-that is controlled by Mr..
Morgan.
Some idea of the situation may be
gained by these facts:
In 1900 the value of farm aud farm
property in the United States was. in
round numbers, 20 billions of dollars.
The value of residential property was
also 20 bilious. The value of clothing.
furniture, carriages, personal adorn.
adornment, oCc., in 1904, WAS 10 billions.
The value of farm products in 1908 was
8 billions. This is a total of - billions.
But the increase in the value of farm
and residence property in ten years has
been enormous. So likewise, the in.
crease of wealth represented in cloth
ing. furniture, carriages, etc which
would include. for example, auto,
mobiles. The - billions of wealth in
these forms must now total at least Is
billions.
The total estimated wealth of the
nation is i2O billions. Subtract from il
the IS billions above accounted for and
there remains - billions.
In these - billions are included
public properties Of all kinds, schools,
municipal, state and national. There
are included also churches and church
property. There are included a good
many other forms of wealth which i,
not engaged in the active work of pro
ducing more wealth. Making allow
{ for these, it might be roughly
concluded that the total wealth outside
Of the farms which has some sort OF
earning capacity. which Is ut work
every dollar of which affects and j.
affected by every dollar which is alsC
at work, does not exceed IL billions
This estimate is doubtless away abov,
the true figure
But even accepting it at - billions
-Pierpont Morgan controls IL billion
of it, or - per cent.
And this - per cent which he controls
is compact. II is in the form of i'm
mense units. Each unit Is in harmony
with every other unit, and the Who'll,
responds readily, instantly tremendous,
", to his will,
The remaining - per cent or 36 bil
lion, are divided among millions OF
people througOut the country. mostly
in small units which, to the extent thai
competition still exists, are at war Will
each other.
What chance have the SO divided ant
warning billions against Morgan's Il
united, drilled and diciplined IL billion.
led, asthey are, by Il captain of finance
whose genius as "A strategist rivals tina
of Napoleon and whose cruel greco
dwarfs hat Of the Olden barbaric hordes
1t is this Colossus, fast esta blishinJ
his monopoly over banking. over rail
rOading, over manufacturing, owe
hnaiIce. who is now reaching out in an
a%udaciOus cEprt To establish, by mean
OF ii federal incorporation act "A centra
bank, a practical monopoly over govern
as WELL
No people in the worlds history wa,
ever suddenly faced from within II,
own ranks, by an enemy so ominous
The hideous institution of slavery itself
so far as its power for evil was con
ccrned, was "A ridiculous pigmy by TIM
side Of M~organ.-St Joseph Observer.