The Bridgeport evening farmer., 1913-12-10
POWER OF THE MONEY TRUST
It Controls the Industrial Trusts Through Its Hold Upon Cash
 and Credit.

Congressman c. H. =Favenner)
 Washington, Dec. 10.-Above the in- dustrial trusts is the money trust It towers above them like a giant among pygmies. 1t is the creator and the fostering nurse of trusts. It erects them, then directs them, exactins first its heavy toll which then becomes for ever a debt and burden upon the com mon people.
 Of paramount importance then it is to destroy first the money. trust With out that accomplishment it will be useless for the people to try to -extri- cate themselves from the tentacIes of monopoly The money trust HriII4 find new forms of uonopoly, new financial devices to eVade the law. All such propositions aS .tpuetfng teeth in the sherman law by providing comI1ul- Sory prison sentences for those found guilty of violating it will be useless to remedy the situation if the control of the credit and savings of the people is left undtspersed from the hands of a few Wall street giants of finance.
 Indeed, as Louis D. Brandeis is show ing in his remarkably clear and able series of articles in Hampers Weekly. so powerful has grown this credit mon opoly that it is doubtful if the cap taips of finance any longer need to employ the holding company and other corporate devices in order to bring about monopoly in fact The very fear of these fnancfers in the hearts of corporation boards of directors. their absolute dependence upon the Wall street financial oligarchy, makes them obedier1t whether the money trust. has its members on those boards of dfrec- tors or not.
 All large industries require large amounts of capital to carry on their
 
 fall. But if there is only one source to which they can go for credit in the amounts which they must have, then that source becomes the master of the industries without going to the trouble of owning stock m them, e1ecting friendly boards of directors. or holding voting proxies. The nurseiing must obey the dictates of it's mother or starve. Therefore, when there are two great competing industries, why go to the trouble of uniting them in a hold ing company? Neither will defy the command of the money trust by en- gazing in actual competition. A di- vision of the trade is the logical out come. And, like all despots, the money trust leviee a heavy taxation on it's creatures and dependents, which, in turn, wiring the tribute from the peo- pie
 The Pujo investigation showed that J. Co. with its allies, control corporations having an aggregate capitalization of $22, ,245, 900, ,00O But, as MT. Brandeis shows, this does not begin to estimate the financial strength of the money trust To measure it's direct control over corporations it is necessary to add several more billions to the above sum.
 These holdings and interests, how ever, are merely indications of the money trusts power. The corporations listed by the Pujo committee are not the machinery of the trust. The men ace of the money trust is it's control of credit, which gives it control of practically the entire banking assets Of the United States, and it's control of those great reservoirs of the people s savings in Wall street, the reserves of the insurance companies
 -"The Astor wealth is static. The wealth of the Morgan associates is dy- namic,'' says Brandeis, and this ex- plains why, with almost equal fortunes, the Astors have remained holders of New York real estate and a relatively unimp ortant factor in the nation s eco homie life while the Morgans have put their heel of oppression on the neck of every 1nan in the United States The Morgans control money and credit, and through that they con trol the people.