Newark evening star and Newark advertiser. [volume] (Newark, N.J.) 1909-1916, 1911-06-16
THE TIMES WARNS
WOODROW WILSON
Hint of a Menace to the Nation
in His Remarks on
Capital.

The New York Times. which appar-
emily showed strong leanings in favor
Of Governor Wilson, especially at the
time when, as president of Princeton
he was involved in the unfortunate con-
troversy regarding the graduate school
at that university. prints the following
editorial this morning:
We wonder If Governor Wilson, Of
| New Jersey, has definite ideas behind
the sounding phrases he used last eve-
ming to the Democratic clubs in Hat
risburg. II he has, we should like to
see them clearly stated; IL he has not,
we fear that he is encouraging some
tendencies in the public mind that are
/ distinctly risky. Here Is n passage
from the report of his speech:
The plain fact is that the control of
credit is dangerously concentrated in
| this country. The money OF
the country are not at the OF
those who do not submit to the direc-
ton and domination of mail groups
of capitalists who wish to keep the
economic development of the country
under their own eye and guidance. Thu
| great IlOilopOly Ia thAo o0h
money monopoly. So long as that exists
| our old variety and freedom and in
! dividual energy of development are out
Of the question.
We should like much to know pre-
cisely what Governor Wilson means by
the money monopoly" If he means
a monopoly OF the various forms of cur
rency, where doe II exist, how Is 1t
acquired, how is it exerted and what
are the evils attending it? The only
serious trouble we have had with mo-
nopolizing or locking up of currency
has been in times Of panic, when every
frightened man with a po~cketbook or
a safe deposit box has engaged In this
most disturbing and senseless business.
Our currency is in a bad condition. OF
that there is no doubt, but it does not
suffer from the facility of monopoly.
It is often piled up in the centres when
1t ought not to be, and there Is infinite
bother in getting it where 1t Is really
most needed, but the big bankers of
the centres do not like this any better
than the rest of us, Apparently, how
ever. Mr.. Wilson has another notion
Of the money monopoly. He says:
A great industrial nation Is controlled
| DY L SIStCIl Va SiNdlAs W. ~
credit is concentrated. The growth OF
the nation, therefore, and all our ac-
~tivities are in the hands of a few men
who, even II their action be honest and
intended for the public interest. are
necessarily concentrated upon the great
undertakings in which their own money
is involved and who necessarily, by
every reason of their own limitations,
chill and check and destroy genuine
economic freedom. This Is the greatest
question of all, and to this statesmen
must address themselves with an ear
nest determination to serve the long fu-
ture and the true liberties of men.
This is a very earnest but somewhat
vague expression Of a sentiment that
prevails to a considerable extent In the
country. One effect of this sentiment
has been to make 1t extremely difficult
to reform the currency and to organize
a system of bank issues that would cor
respond to the real needs of commerce,
because such a reform involves q GER
tain form and degree of central organ
~ization, and the mere name of con
centration'' scares those who do not
know how proper concentration works.
This sentiment underlay the popular
movement toward g-reenbackism and
free silver, which were SO stubborn and
so terribly, SO pitifully costly. We do
not wish to believe that Mr.. Wilson Is
the victim of this sentiment in its
cruder forms. But in the manne in
which he expresses himself many In
thinking people will imagine that he Is,
and will accept him as 9 leader In the
/ dangerous politics this sentiment in
spires. 1t would be a misfortune for
the country II so able 4 man as he
should give encouragement to a spirit
that must breed infinite confusion, err
ror and suffering. And. frankly, 1t
would be disastrous to him as we'll.