Tulsa daily world. [volume] (Tulsa, Indian Territory [Okla.]) 1905-1919, 1912-03-03
Should BE Systcmatlzcd.

cause lHeN Try 10 upIolu'
ShcuId BE Systematlzcd.
Aside from the use of banks by
security companies owned by the
stockholders of banks and aside from
some features of underwritlngs, all
that is done by the leading bankers
in the way of controlling the use OF
money by the public ought to be done
by somebody. In other countries the
law provides for doing it, but since
the American law ignores this most
vital function of banking. the matter
is attended to by private business men
| They will be glad to relnquish the
power when they are relieved of the
responsibility.
The men who now exercise this vast
power are foremost in the crusade to
have the banking laws reformed along
the very lines where reform is most
needful.
1t Is true there are dozen men
who know every day just what is do
ing by the big borrowing at the banks
and these few know how safe that
borrowing Is, and they decide wheth-
er to call a halt on each borrower
Should individuals he permitted to
borrow themselves and the banks into
bankruptcy then somebody has to
ring the bell.
There are certain things that must
and If the government shrks their
duty, there will always be found pri-
vate citizens willing to do the work
either through patriotism or because
1t pays, Individuals who run coun-
ter to this corrective force make loud
outcry but time usually proves that
the restraint was applied none too
soon.
Should They BE Blamed?
To take recent interest look at
the Stillwell incident. Mr.. Stillwell
charges that the money trust" re-
fuses to let him have money for his
Kansas City, Mexico and orient rail-
road, and keeps others from helping
him. Should banks be blamed for
steering money away from a specula-
tive enterprise?
Wall street remembers that Mr.
Stillwell was talking eXacty the same
way In 1900 when his Kansas City,
Pittsburg and Gulf railroad was GO
ing into the hands Of receiver. That
road is now operating under the name
of the Kansas City Southern. The
cry then was that the money power
would not buy bonds to carry the
road along. The Orient railroad and
slightly different degrees, the penalty
for rushing into undeveloped terri
tory.
The Orient is a current example OF
all railroad building. The other big
systems have been finished 50 long
that the public has forgotten how
they struggled to get cash. and they
did not blame the money trust, oith-
er.
Every new railroad is gambling
proposition for the first ten years Of
its existence and nobody will invest
money in its securities, except on such
a basis as to give tremendous profits
in the event of success.
Is n Complex Problem.
The problem of destroying the
money trust Is far more complex
than the politicians imagine. II
cannot be reached by whispering Of
encouragement or warning that is al
ways going on among persons close
~ allied in business. The telephone
and telegraph and quick transporta-
tion have forced modern business men
into relationships more intimate than
ever existed before and these intima-
cles are world wide. They are above
tn law of all countris. not In con-
tempt of H. The only way to reach
this whispering king Of the golden
river is to accord high honors to hon.
esty and fair dealing and visit the
hitteresf disgrace upon those found
msusing the melsureless strength
that modern invention has bestowed
uuou tho rnonied interests of thp day.