The Mathews journal. (Mathews C.H. [Court House]) 1903-1937, 1912-02-22
COUNTRY in GRIP
OF MONEY TRUST
Declares That Coin Kings Inter
ests Have Banks of Nation in
Merciless Subjection at Their
Feet-Compose Panics
at Will.

WASHINGTON, d. C. Special
-Four groups OF Enanciers control the
money Of the country, and their
methods are black hand methods of
a hnancial mana" Representative
Henry. of Texas, charges.
In a speech prepared for delivery
in the House today, the congressman
declared that the time has arrived
when a probe must be made of the So
called money trust" and he charged
that no effective investigation can be
made into the ramifications OF either
currency legislation, the trusts or in
terstate commerce corporations until
Congress understands the methods
OF insidious and almost supreme
money power"
He made twelve specific charges
against the financial interests of the
country, and accused them OF domi-
mating and controlling more than rs
per cent OF the country's hnanciaI
resources
This financial oligarchy." he said
has now within it's grasp the re-
sources, deposits and funds with the
powers that periliZe competition ana
destroy competitors
They now have at their feet in
merciless subjection more than 75 per
cent. of the vast army of banks and
bankers throughout the country.
They are combined and acting in
strict accord with the railroads and
Industrial trusts, by throwing their
protecting arms around them, with
the avowed purpose of assassinating
IN business all their competitors.
we should have light as to how
these things have been accomplished.
and individual cases uncovered that
would illustrate the system and point
the way to sane and wholesome RENE
dial legislation
1T is certain that these same finan-
cial interests OF New York have a
close community OF interest with the
bankers of the money centers of
Europe and act together in protecting
one another and destroying competi-
ton"
Here Mr.. Henry outlined his twelve
charges against the money trust. as
follows:
That the money trust manages the
financial affairs of 75 per cent. of the
railroads and uses their funds"
That by the use of these funds the
money power has secured domination
over many OF the leading national
hanks and other moneyed institutions
In the city OF New York and in other
cities" thus enabling il to direct the
operations of the banks
That these funds are used to con-
troll the securities and commodities
market ITO regulate interest rate. to
create, avert and compose panics at
will"
mar tne<Se banks and corporations
are engaged in the promotion. un-
derwritIng and exploitation OF specu-
lative enterprises, many of them dan
gerous and questionable, wild and
Visionary"
That the money trust is constantly
conspiring and agreeing with inter
state corporations TO prevent and sup
press competition in the interest OF
such corporations and frequently TO
crush out competitors by means of
questionable and vicious financial war
fare.
That the national banks and mon
eyed corporations are controlled by
the same persons, interests, groups of
individuals and corporations that are
interested in other national banks
and moneyed corporations and in in
terstate corporations that are custo-
mers and really conspirators
That the money power has il with
in its absolute power to make and un-
make panics, make bull and bear mar
kets easy and tight money whenever
| IL suits their pleasure" In a fnan-
cial way it is not overstating the dan
ger to say that they are almost
lomnipotent and hold the destiny of the
business world within the hollow of
their hands.
This group of financiers have par
ticipated in stock gambling to a scan
dalous extent, and withhold money
from legitimate commercial Channels
to engage in such gambling and in
financing dangerous, doubtful and
sometimes disreputable speculative
schemes.
That it is undeniable that independ-