Atlanta Georgian. [volume] (Atlanta, Ga.) 1912-1939, 1912-05-04
FACT AND GOSSIP
IN BUSHES
WORLD
ax q. c. FORBES.

-
NEW YORK May s.-The head Of an
Important stock exchange firm said to me
the other day in answer to a suggestion
that he should do a certain thing:
II would gladly do it, but it might
be construed as an act of antagonism
toward the money power
II thought you were dependent upon no
me that YOU ran your business on your
own capital?' I replied
That's true We have money
enough to carry on our affairs, but
occasionally when we are carrying
large amounts of stocks for customers
we find il convenient TO borrow tenn
porarily But even were this not so
could not afford to do anything
against the powers that ne lou
ought to know that.
so there is a money power?' ]
queried.
He looked at me quizzically
You did not come down to the
street for the first time YESTERDAY
therefore need not reply to that
question
.'Kind of humliating position for man
81 your standing to be in ventured'
But what can you do about it?' he
asked
Then he changed the subject
Some time ago an article appeared IN
this column on the text that there IS not
r,onev trust. but that there is money
mower A publisher of works on hnance
. week or two later was discussing the
contents Of this column from day to day
,,of course l took it for granted that
What YOU wrote about there being
money mower was inspired" he said
.Tnspired?" asked. puzzled by
whom" ooh, by your people he re-
nIied. This was the very first lnnuenoo
7 had ever heard that anything appearing
in this column was INSPIRED Ihe as
nersion was rather humiliating. especially
as II came from a responsible source. !
t.d imagined that these simple comments
an economic matters were at ieasl
\straightfor ward, that they rang true thst
fbev breathed sincerely and that lheS
bore no earmarks Of having been ma
chine made, out to order and according
TO samples supplied
Lest some others harbor similar IDEAS
NAV I be allowed here and now TO pay
,'vour people" the compliment Of an as
surance that never in even the remotest
the most roundabout or any other way
have they sought to influence by one
hairs breadth a single word mere VIII
ten. Common justice demands snch
tribute. It is a tribute that could not
with equal honesty be paid by writers on
every paper in New York city Wneh'
however. such tolerance, such broadmlno-
edness is shown, issit not rather calling
to have sinister motives imputed to ones
employers?
When. therefore, the view is here eK-
dressed that there is a money power II
means that such view is CONSCIENTIOUS
~ believed to be founded on fact Inc
interview reproduced in the first para
graph is not drawn from imagination
Nor we're the statements made by an
avoved enemy of the money power. They
are statements such as any banker or
broker of note in New York city could
make we're he to speak his mind-indeed,
similar remarks are as common as cur
rencv in Wall Street Since the proposal
10 Investigate conditions came up quite
number of financial people have expressed
their cordial Though secret approval.
The woke has become irksome. Rather
the consciousness that an offending step
might bring disastrous reprisals Is grow
ing more bitter and unbearahle
Bankers not hand in glove with the
money power arc yearning to be able to
call their souls their own They fondly
hope that something viii be done to re
store to them that sense of sturdy msnlt-
ness which is every mans birthright.
Their hopes. however. are not gener-
ously blended with confidence They can
not prescribe a sure remedy The sys-
tenn is so subtle. so intangible, so word
less and wireless, SO much thing felt
in the atmosphere. spirit rather than q
body. consciousness rather than
thing Of flesh and blood. How can you
grip such an offender against free p'ay'
There is nothing to put the finger upon
nothing to point TO and declare This
IL the money power" II Is without form
vet far from being void Invisible as the
wind. it is as powerful, on occasion as
hlghting
Merely because q thing Is invisible must
Its existence he denied We can not see
the air We breathe.
Messrs. Untermyer and Farrar are
promised the widest possible scope in con-
Quoting their investigation They should
be able to unearth much Of interest, al
though the airy. unwritten ways of the
money power viii be hard to nail to the
counter. The revolt against financial
overlordism has not yet become open and
avowed, but circumstances may so shape
themselves that A strong lead will be
taken in throwing off the yoke Let Wall
Street rise up in arms, let there he con-
certed action under inspiring leadership
and + = money power may fall, as all tY-
rsntt. fall sooner or later At the mo-
y ment deliverance is not within sight, but
the Investigations may beget the neces-