The Eureka sentinel. [volume] (Eureka, Nev.) 1902-current, 1912-12-28
MONEY TRUST INVESTIGATION

Salt Lake Telegram: The investigation OF
the money trust now going on before a COM
mittee in Congress is something that the Tele-
gram has urged through all its life The world
will stand almost appalled, before It's revels-
lions.
When mankind reads that less than a hun
drsd men control more than twenty billions
Of dollars in our country, the revelation VIII
be almost enough TO brighten the world.
The Telegram has long pointed out that
whatever depression there was in the country
was due to that; that there were a few men
in New York City who absolutely control the
finances of this great nation and can spread a
panic from sea to sea in one moments time.
1t was that same company that caused the
demonetization of silver. that corrupted the
press of the East. that hired learned profess
sors to preach false doctrine to the people,
until they went TO work 10 absolutely half
ruin themselves. and all lifetime patting them
selves on the back in the belief that they
were superlatively honest and not knowing
that they we're simply doing the bidding of
some men who had no more consideration for
their fellow men in the accumulation of
wealth than would so many tigers in sight of
their prey.
We do not know how it will affect the law
makers, but it seems to us as though it would
cause them to determine that there should be
a national bank. free from any influence of
these magnates, and strong enough even to
stand off their power. which in itself is almost
unreasonable.
1t ought to incite Congress, too, TO pass an
income tax law which will limit the incomes
of men who in their power are drawing to
themselves all of the accumulated money of
the world, who look upon the people, even the
ninety-three or four millions Of people in the
United States, as their contributors. We
can see what they nave lone since the de-
monetization of silver 10 years ago. They
have absorbed more money than the world
ever possessed before, and the machine which
they are running is fast gathering to them
the rest. In the effect of its operations it is
more like a faro bsnk than anything else.
The percentage of the game will eat up any
one who persists in playing at it.
The Morgan Testimony
That was most ingenious testimony that
Mr.. Morgan gave the committee on Thursday.
It reads as though he was playing with the
committee, a. though he, living in another
world, was talking down to the poor devils in
the lower world, and when he says no men or
combination of men can control the money OF
the country, his testimony must be taken
- ..-~o. o.~aa 1f oanraa fhav aap.
not control it all, for a great many have a
great deal of money in safe deposits and
other places. But had his inquisitor been
bright he would have asked him some ques-
tions which he did not, one of which would
hav been:
'But, Mr.. Morgan, cannot your firm in
New York and those associated with you in
business bring on a panic in "a hours if you
wanted a panic that would stretch from sea
to sea!" He would have been obliged to
answer ''Yes;" and there is where the danger
is. That fact shows that he holds a club over
all the finances of the United States. II
cannot quite draw to him all the money, but
with what few dollars he has. he has infinitely
more power than the President of the United
States and Congress to help him in the hand
ling of the Nations finances. They dictate
when there shall be q panic, when q little
generosity shall be extended, when it is neces-
sary to crush q great business house or, more
in their line, when they will determine that
the government shall put out a lot more bonds
for their use. In the Winter Of "a Mr.. Nor
gan did not have all the money in the United
States, but he had a large amount of it, and
some of the bonds that he had as security for
his money were getting near maturity. He
wanted more, so they deliberately put up a
little transaction which compelled the selling
of $3.50, 900. 900 bonds in order to maintain the
legal reserves in the treasury. That combine
in New York is like the engines in g great
steamship. When they please to move the
ship goes on, when they please to stop the
ship stops; and in that way Mr.. Morgan and
his company absolutely control the money and
the finances of this republic.