Payette enterprise. (Payette, Canyon Co., Idaho) 1909-1935, 1912-02-15
COMMENT ON
The National Reserve Association

since you nave asked TOT CON-
ments on the Aldrich plan Of none
tary reform I wish TO make a re
mark or TWO and possibly ask some
troublesome questions.
Ordinarily 1 should not object 70
any policy simply because a GER
tain man or set Of men advocate Il,
but In this case / am very much In
clined to think that II would be a
perfectly safe proposition 10 reject
anything OF a fiscal nature prepar-
cd BY Nelson w. Aldrich.
Mr. Aldrlch Is the gentleman, who.
In the framing Of the Payne Aldrich
tariff bin 30 manipulated the sched-
ule on rubber and rubber goods that
millions Of extra loot would now in
70 tho golfers OF the rubber monopo.
~ OF which he was one OF the prin-
cipal stockholders. No honest man
will 90 20 Congress and take part
Ia legislation on matter In which
he Is directly interested without max
luk nplAb nyib vi gApihhA NlDA " Ht@
position TO try and clear his skirts
OF graft Not 30 with Mr.. Aldrich,
but on the contrary when confronted
with the evidence OF his "legalized"
thefts he did what Roosevelt and
all other grandstanders and grafters
do. tried 10 bluff his accusers. Now
II Is not expected Of US farmers to
know all the intrlcacies OF high H.
nance. nor Is II intended by the
captains OF Industry" that we
should know; but there are few
plain common sense facts which We
may. see. and from what can gath
or from these. this scheme Of Mr..
Aldrlch's Is tho best thigh in the
world TO lot alone.
II should not be forgotten. also,
In making an estimate Of the merits
Of anything proposed by Mr.. Aldrich
that he Is a member in good stand
ing OF the Standard oil Company and
Is closely Identified by material and
social ties with that thriving organ
iation. as well as all the interests in
which j. p. Morgan, Andrew Carnegie
and all tho other great financial bui
Cancers are interested.
without another word OF Q .ldenca
on the subject those things alone
should convince the farmer and all
other producers that this whole
scheme Is solely In the interest of
the class that periodically. through
the manipulation of national finances,
skins the producers out of all they
have except bare existence.
To illustrator In 1907 we had a
panic. although according to the
government statistics that year was
a record breaker up TO that time
In production OF every kind of the
Kings that should make prosperity.
In other words we had starvation and
misery all over this land because
there was too much surplus pro-
luctB." How was such a state of o.
airs brought about? How could
{ be possible that In the midst of
he greatest plenty ever known up
o that time. millions were out OF |
employment and starving. and those
Who di9 work had 20 take confetti" /
currency for their wages and de- |
'Ositor In a national bank could |
raw only five or ten dollars out of ,
l.?
To Illustrate further as cause
Or this state OF affairs when we
hould have been right in the midst
{ bounding prosperity according to
II the rules OF logic. we will cite
nc incident that was typical OF
iany Othera and Is characteristic OF
money trust" Everybody has
card something OF the Tennessee
cal and Iron Company deal in the
lnic OF 1907 A magazine writer two.
aars after this deal has this to
W OF a. Just before the recent
,nlc a majority OF the stock OF the
enucssee Coal and Iron Company
as deposited as collateral with
rye New York bank. When the
nancial cyclone struck Wall Street
became necessary for tho bank
question TO Immediately turn its
lge holdings Of stock into cash.
Sc ruin was certain. But while
q panic feeling was IN the air Il
As almost impossible to find pur
asor for those great stock hold
IS,
For a time the failure OF the
NIX seemed inevitable. but pres,
tly, with the consent OF the Roose- (
II administration. the United stat
steel Corporation stepped into
G breach and bought, in one lump
m. the control OF the Tennessee /,
,al and Iron Company, paying a E
tie less than 5000 900 for It's f
rgain." a
Roosevelt and the steel Trust at .
p time posed before the country
great patriots In thus avertiug c
n her dfangtor In fha financial I q