The Hattiesburg news., 1911-09-14
EMINENT NEW WORKER TALKS
OF DANGEROUS coNceNTRA-
TON OF WEALTH..
INSURANCE FUNDS ARE JUGGLED
And Concentration OF Immense Funds
So, In Eanks Of The Big Cities Threat
x Zen The Industrial Welfare OF The
Eepn Nation

New York. Sept. IA Paris copy |
right cable TO the New York World !
says:
Before sailing for nome yesterday !
Samuel tntermeyer in an interview
on eccuo'aic problems in the United
States, said;
Tho two sre difficult problems
that confront lis in America are;
FIRST, 20 curb the concentration of
the money power and
Second. to regulate and control the
industrial competition engaged in in
terstate commerce.
GOV. woodrow WILSON, of New
Ie4eey. did not mistake or overstate
either the facts or the immediate,
oyershadowing peril from the growing
concentration of the money power in
America.
= - sincerely hope that the commit
fep Of Congress to which has been in
trusted the investigation of this great
problem viii associate with itself pub
lie spirited men who actually know
the nature of the task at issue and
thus be able to formulate at least
partial remedy before it is too late.
The question should be no longer
treated as simply a cry of the dema-
sogues,
Chat is what happened to the trust
question in the United States for twen-
ty years. until complete remedy for
the trust has become impossible.
THE danger lies not so much i'll
allowing men to do as they please,
within certain limits, with their mon
ey. as in fixing the extent to which
they may make use of other peoples
money for their own ACKNOWLEDGEMENT
and in regulating the power they thus
usurp over the lives and fortunes OF
others"
The Untermeyer Remedies.
The New Yorker then named, one
bv one. several of his remedies for the
existing conditions. He said:
First and foremost, would sugses
We take from these men their contro
Of life insurance funds and nationa
bank deposits in the large cities
amounting 10 billions of dollars. Soon
er or later industrial life insur met
will have to be undertaken by thu
state, much rs we may dislike tina
alternative"
"The interests of the working pee
pie to whom the funds of these indus
trial insurance concerns really be
long, imperatively demand the change
When the state is behind the policy
holder there will be no excuse TO
ac, amulating these vast and rapid
increasing reserves, to insure solver
CIV. beyond the actual cost of insul
ance."
The second suggested remedy ha
to do with the National Bank laws.
The present draft of the Aldric
bill" said Mr.. Untermeyer, contains
| understand, a provision allowing ne
tional banks to maintain branches
This is simply playing into the hand
of a few great financiers. The pre-
vis:o is vicious in principle and
should never be enacted by Congress
NO single man or interest should b
rirmitted to own or control or b
iepresented in the directorate of NOR
than the bank or trust compan
vil,-e the companies are normal
competitors.
} r0nly a certain percentage Of IN
| -daosits of national banks should /
aro able for loan on Stock Exchane
material.
.1h he national banks should be pr
bitited. as are the assurance cor
nauies, from underwriting or issuir
or Icing interested in any financi
schemes. g
"it is a recognized fact in the Ame
lean financial world today that n
enterprise, however meritorious an
profitable, which involves raising
Continued on Page Four)