Washington standard. [volume] (Olympia, Wash. Territory) 1860-1921, 1912-10-04
With the Editors
The Money Trust.

Golfers WeeklyD
Friends of localized monopoly tell
of the trusts economies through de-
welcoming bv-products. The utiliZa-
ton Of waste Is a common incident
of large-scale production. and Is III no
way dependeut upon monopoly or COM
bination. Certain byproducts OF
trusts. however, deserve consideration.
One of these. the subsection or the
laboring man. We discussed recently.
The subsection Of the business man
is another. Industrial trusts leed
the money trust.
No other economic problem IN
America is so important as the con-
troll which a few financiers exercise
over capital. The control of capital
, is to business what the control of the
water supply is to life. The greatest
! economic menace today is the control
over our quick capital, by which all
| big business is subject to the will of
/ few men. Nothing has contributed
| so much to the growth of that financial
power of the few as the advent of the
| industrial trust. By converting
large part of the capital of the country
into negotiable bonds and stocks,
which are listed on the New York and
other Stock Exchanges, few men are
acquiring q strength which is almost
world A generation ago
| the power of Wall street extended to
| little more than the railroad world.
Industrial businesses were then prl-
yate businesses, owned in large part
by those who managed them, or they
were dependent upon local financial
concerns. The industries of America
were then practically free from domin-
alton by Wall street. Even the rail-
roads, smaller units as they then were,
retained some freedom of action. The
change came with the creation OF the
industrial trusts and the great con-
solidation of railroads. Today no really
large enterprise can be undertaken
without the consent of a few men
whose Offices are in or near Wall
street; and the price of this consent
is usually such as to enhance the pow
err of our money kings. This great
danger, which new party leaders gen
orally ignore, Governor Wilson ap
preciates. Long ago he said:
1.-The great monopoly in this country
is the money monopoly. So long as
that exists our old variety and freedom
and individual energy of development
are out of the question. A great in
dustrial nation is controlled by its
! system of credits. Our system OF
credit is concentrated. The growth
of the nation, therefore, and all our &C
, tivities, are in the hands of few men
j, who, even if their action be honest and
intended for the public interest, are
necessarily concentrated upon the
great undertakings in which their owl
money is involved, and who necessar
, ily, by every reason of their own limi
j tations, chill and check and destro!
, economic freedom. This is the great
, est question of ALL"
, These financiers and their depend
t ents grow stronger not only through
the Internationally large promoters
fees and underwriters commissions
! but also through that other and dali!
' tribute paid on Stock Exchange tran
! sactions. The legalizing of our larg'
: trusts, as proposed by the new party
= would immeasurably increase tina
. tribute. Monopoly is the path of leas
! resistance in business; and the effec
!. of licensing monopoly would be t
, accelerate greatly the movemen
! toward monopoly and, incidentally, tn
absorption of private business int
huge corporations. In this way man.
u billions now invested in private bust
: ness and still free would come unde
: the domination of our great financiers
: The Amendment of Rupp.
(Tacoma Forum. Republican,
A lot of weekly publications owe
I the state are falling over themselves t
3 slobber over the appointment of Wei
s ner Rupp as state chairman to success
l. Coiner. The facts are that Rupp wa
: not chosen for any particular ability
t for he hasn't any. He is nice fellow
d a likeable chap, and would make
S swell fashion plate, in fact he is on
y of the few young men in the stat
e that looks we'll in black Rupp wa
s chosen by Perkins because he wi
e make a good dog Tray. 1t may b
n alright for country weeklies to foe
It themselves, but those who know
thing or two, are Convinced that Pc
r kins is the real head of the state con
e mittee and Rupp stalking horse.
e the progressive Idll 10 open uIp y
e Rupp and connect him with that the
IS at Aberdeen, they are not doing thei
st duty.
IL Democrats. Get Into 1t.
y douglas County Press. Democratic)
u Now that the primaries are owe
and the people have expressed pr
re ference as to candidates it is tn
lie duty to every Democrat to pull o
n his coat, roll up his sleeves and wor
e. for success at the polls in Nevembe
'e from president down to precinct o
ficers. With splendid nations
g. ticket; with a state ticket unsu
lie passed, and magnificent count
t. ticket, the Democrats were never s
70 splendidly equipped for results, an
'e to falter now is suicide and an owe
le turning of all the work of the pas
n sixteen years.
Now 1t IL Flynn.
E (Creston News. Republican,
Flynn of Pennsylvania was boss {
r bosses till Penrose sidetracked his sci