The commercial. (Union City, Tenn.) 190?-193?, 1911-11-03
A Vicious system.

n v iClOoo AJ oN(AA'
With all the suits, investigations and
custer proceedings the United States has
as yet no victory to record in its war
against the trade-controlling trusts, and
the prospects are that another grand
stand play is being made in the suit to
dissolve the steel trust or to convict it
Of violating the Sherman antitrust law.
Such manifestations as these with all
their accompanying declarations and
pyrotechnics offer little encouragement
to the people-the common people =
after all the farcical play that has been
made in the name Of justice.
We are on the eve of another Presl-
dental election, and this grand display
Of mock patriotism fits in well with
masquerade President Taft is making
through the country. He starts in the
East with plea for the trusts and lnthe
West he is winding up with denuncia-
ton OF the ill-starred combinations. In
the various localities he assumes a posi-
ton that will be acceptable and then
undertakes to defend them all The
Presidents itinerary hasn't been very
profitable and at last he laments that
the Republican party is facing crisis.
He knows this too we'll, or he wouldn t
be grabbing at straws.
In the suit against the Steel trust the
Government has entrusted its interests
to mighty good lawyer, and it is to be
hoped that the power behind the action
may be sincere, but is like hoping against
hope.
The American people are tired OF 1t
all. The temper Of the masses was
shown in the Congressional elections a
year ago. Let no man make the mis-
take that this feeling has abated, That
victory was not strictly a triumph foi
the Democratic party. 1t was essentially
and fundamentally a protest against the
favoritism of predatory wealth by the
Government. 1t was the first notice the
people have served upon the law-makine
and Iaw-enforcing powers that the Gov
eminent must discontinue its attitude q
favoring special interests and discrlm
mating agaist the masses. There are
three things which must have attention
in this country. First of all the tariff
wall must come down. Next the traffic
and trade controlling trusts must b.
dissolved and finally our financial system
must be altered. This is no idle senti
ment. Other countries have to b.
reckoned with when it comes to trade
and sooner or later there must be reclp
rocal trade relations or war. As to tn
trust system the people OF this countr.
are born free and taught the liberty o
life and pursuit of happiness, and Their
must be an equitable and fair adjust
ment of personal and individual right
or there will be revolt. Last, the trad
relations Of our own country must b
divorced from gambling. That is tn
defect ia our financial system, and Their
Is no real reform in our finance whlc
does not contemplate the readjustmen
Of this condition Indeed our Who'll
trade is affected or controlled by Wa
street and the Chicago grain pit gam
bling.
The New York banks, the larger one:
are ike the gold standard, they are th
standard Of credit in this country, an
the smaller banks all over the counar
are compelled to deposit with them
order to secure medium of commerce.
exchange. These deposits are used
will on change for marginal specul'
tions, in other words for gambling. BIZ
for this our financial system would ;
good indeed. We would not make a
indiscriminate attack on our bankin
system like the socialist, but these thing
are true and no banker of iinancier wi
denyit The system is perfect enough I
it's now, ifCongress would only stop tl
gambling--the Black Fridays, the dar
DAYS in financial history which com