The Dawson news. (Dawson, Ga.) 1889-current, 1911-12-06
SAVED GAMBLERS AND BROKE THE COUNTRY


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be brought in by recommendation of
the president cutting off rebates and
free passes, which suits us, who own
! the railroads, permitting the rail
roads to make pooling arrangements
and providing for maximum rates"
The railroad man added, said Mr.
! Barker, that under the latter author
| ity it would be possible to add from
/ $500, 10000 to 100000 to the
/ total freight charges paid by the
American people.
Teddy Carried Out Plan.
Il told him did not believe Roose-
Welt had made any such agreement"
said Mr.. Barker, but when the an
nual message of 1905 went to con-
gress he recommended most of these
| things. | wrote to President Roose-
welt and told him what | had heard
and that l thought the man lied, but
now | must believe he had not. 1t
was the only letter of mine Mr..
Roosevelt ever failed to answer"
Members of the committee asked
Mr.. Barker to give the name of the
financial man who had told him that
Roosevelt was to be elected
4 cannot do it," said Mr.. Barker,
but subsequently somebody was al
legged to have stolen some CORES
pondence between Mr.. Hartman and
the president telling of $250,0OO put
up for election expenses in the city
of New York"
referring to the panic of 1907 Mr..
Barker said man who was present
at conference at J. P. Morgans
house in May came to him in Phila-
! delphia and wanted him to use his
influence with President Roosevelt to
stop plan that had been mapped
out he alleged, by the financial lead
ers. This man was a captain in the
Rough Riders, he said, and had used
his own influence with the president,
without avail.
The plan said Mr.. Barker, con
templated the curtailment of loans,
the withdrawal of credits, the putting
away of money by those interested
where they could get when they
needed it to stop the panic and the
enforcement of the various state
laws regarding the holding of cash
panies."
Mr. Barker said that in October,
when the financial upheavaI reached
It's crisis, he urged President Roose-
welt to distribute the $145,OO0,000
OF cash in the treasury among the
banks of Chicago, Philadelphia, Bos-
ton and other large cities.
Put Cash in Wall Street.
He wanted to do it," he said,
but he called in Mr.. Knox and Mr..
Cortelyou and Mr. Root and instead
Of depositing in the outside cities he
plunged the whole amount into Wall
street, 1t broke the country, but it
saved the gamblers"
The Philadelphia man. whose
banking house at one time was fiscal
agent for the Russian government,
declared that those who backed the
Aldrich monetary plan had begun
propaganda" in which it was pro-
posed to spend $1,000,000 to secure
| the Endorsement of the proposed cur
| rency legislation.
Yesterday banker in Philadel-
| rhia started to collect that citys
share of the money" he declared.
He declared that "the great money
| oligarchy" of New York controlled
all the lines of finance, industry and
TRANSFORMATION and that no legisla-
| ton designed to break up the trusts
would strike at the root of the
| trouble.
Independents Throttled.
Few people appreciate how. by
control of the money Of trust com
panies, savings banks and national
9nd state banks, the trust has throt-
tied independent enterprise" he said
He urged law that would compel
national banks to hold their legal
reserve in cash instead of having the
power to deposit part of it in the
banks of New York.
Nothing but those immense re-
serves, varying from $3.50, 100000 to
$3.50 100000 makes New York the
money power it is, said Mr.. Barker
insisting that the Aldrich currency
plan would strengthen this financial,
force by enabling the banks to use
public credit for their own ends.
Mr.. Barker urged a central hank
Of the United States to be controlled
by directors chosen from arbitrary
districts covering the whole country
Without opiates or harmful drug,
/ of aDy kind Folpv'g TJOnaxy Owl NJ,