The Richmond Virginian. (Richmond, Va.) 1910-1920, 1912-06-16
GOVERNMENT AND THE MONEY TRUST

Some things are so plain that It tn impos-
Ia out OF argument and contention that &C
ton is born, the thing that everybody ad-
mits the need of In that which ia last accom-
plished II Is the utter inadequacy OF the
,countrys monetary system, coupled with the
unanimous admission OF the fact, that is
more than anything else responsible for the
failure to do away with a generally con-
coded menace and nuisance.
The Investigation of4the Money Trust is
In many ways ridiculous. 1t has the fault of
looking like an indiecriminate probing after
faults and evils without any particular end
in view. IT may be true that Mr.. Pierpont
Morgan, Mr.. John u. Rockefeller, and other
mercial pirates, OF even monetary parasites
n that is so. 1t is merely In confirmation OF
a public suspicion Of long standing. Where
1t will particularly benefit the public to have
the fact demonstrated is not so apparent.
For instance, II Is to laugh to follow the
proceedings OF the committees four-year old
post-mortem into the panic Of 1907. 1t is
to discover that the tabled generosity Of Nor
gan in saving the situation on his own respon-
sibility was a beautiful canard which the
Treasurer OF the United States permitted him
TO twist to his own glory. II is a matter OF BIT
Ter Jest that the $25,ooo,00o which Morgan
was supposed to turn into the Street to save
the country was in fact turned over to MI.
Morgan by the representative of the suffering
people from whom II came in the form OF
the indirect taxation out OF which springs the
high cost OF living" 1t is in fact illuminat-
ing to discover that the head OF the coterte
of men whose wealth incites the investiga-
tion into the Money Trust" not only has a
grip on the finances constituting the popular
possessions, but 10 actually able to success
fully ask the Government to enable him to
keep that grip when disaster threatens It's
tenacity. But all this is beside the mark 80
far an the real interest and the hope OF real
result are concerned.
Why. II the Government must come TO the
aid o. "A financial indigestion absolutely IN
ayoidable as the result of obsolete laws, Is
there not some way of SO changing the laws
as to let the Government act directly in the
interest of all the people, through all the
banks. instead OF being confined to dealing
with the head OF the Money Trust In
manner calculated TO Increase his power and
prestige? Why II the Government must aid
Mr.. Morgan in SUPPLYING the cash for bust
ness requirements is there the evident hest
tation 10 devise system of elastic currency
which would supply such deficiencies auto
matically to business itsetfT II has hol-
low look that the Government should now
exhibit so much anxiety concerning an alleged
power OF evil Of which 1t is patiently the source
and inspiration.
This Ia a campaign year, and campaigning
has recently been conducted apparently on the
idea that its only proper function Is to stir
M something to make noise about. The
Money Trust investigation does that, but
hope of Its real value depends upon whether
the absurdities 1t dscloses shall or shah not
compel legislation which will take from the
richest country in the world the reproaeh OF
possessing the most ancient policy with re-
spect TO distributing and controlling that
wealth for the sake OF the body OF It's eth
zens.