The Farmington times. (Farmington, St. Francois County, Mo.) 1905-1926, 1913-01-02
OUR WASHINGTON LETTER
RY CLYDE II. ThVENER.

Washington espoudence OF The Times
Washington Dee. D-How often
do 1.-THE interests of the country y
demand that j. +, Morgan orangize
n trust?
Mr.. Morgan testified somewhat
airily before the Money Trust in
vestigating committee that he got
busy every time it was good bnst-
ness and for the interests Of the
country
When MIR. Morgan's concern or
ganized the illegal Steel Trust it
took go 900 900 worth of stock for
it's trouble.
In order TINT dividends may he
paid upon this S2g, 900 900 every con.
sumner in the United States must
pay excessive prices for manuiac-
turcd steel goods, because every
family in the land uses IN some Ca
pacity at least some Of the products
of this Illegal Morgan steel trust.
How can it he figured that "the
interests Of the country demanded
that American consumers be- thus
g0ugcd?
In order that dividends may be paid
on the $50 900 900 Of Morgan's wa
tered stock, the man who work in
the blast furnaces Of the steel trust
are forced to work - hours a day,
seven days week!
Did "the interest Of the country
call for this?
Immediately upon the orSaniza-
ton Of Murgan's illegal steel trust,
the price of barb wire to the Ameri-
can farmers was increased nearly
une-third, And nails, sheet iron
and many other products increased
in price in like proportion.
DO the American people hav" such
thick growth Of wool over their
eyes that they will believe that any
one of these things were brought
about by Morgan for 1.-THE interests
of the cOuntryP'
What il Money Trust?
MIR. Morgan says there is no mo.
ney trust, but II the state Of affairs
that he admitted does not reveal Il
money trust, it would he interesting
to know what u money trust Is.
Testimony before the PuJo COM
Al ,tul
institutions in New York, Chicago
and Boston, by means Of interlOck-
ing dircctOrates, have a vote" in the
management Of l3l corporations
with an aggregate capital of 80 ,32j,
900 900 II shows that j l. Morgan
d Co., the Guaranty Trust Com
pany, the Bankers Trust Company,
the First National Bank and the
National City Bank, through ri in
terlocking directors, are allied with
corporations having resources Of
S22 .24j, 900, 900,
The eighteen institutions that
rave n voice IN the management of
- 80 900, 900 have lSO partners and
directors. There ISO men hold 30
directOrships in fOrty-0ue banks and
trust companies with depOsits of
T., S34, 000, 900. They hold fifty dir
ectorships in eleven insurance com
panies with total assets of 81 ,646,.
900 900. They hold 100 directorships
in thirty-0no railroad systems hay.
ing a total capitalization Of ST. 49,
900 600. They holdsninety-eight dir
"ct0rships in twenty-eight troduc.
ing and trading corporations with "a
total capitalization Of 1888 900, 600
rhcy hold furty-right direct0rshiPs
in ninetcon public utilities corpora.
tiuns with an annual gross earning
capacity Of $i2S, 900 600
II these lS0 men do not constitute
Money Trust, what L. IA Money
Trust?
who would uudrrwfitr the ~ecuri-
ties of a corporation that promised
keen competition with any of the
corporations within the sphere Of
influence OF those 1880 men? Would
the banks aud trust companies that
they control lend money to such
competitors? Would weaker banks
be inclined To take the risk of in
curing the hostility OF the stronger
banks?
The sole purpose of all these com
binations is to cdetrol credit through
the control Of money, and whoever
is master OF credit Is master of the
commerce and industry of II Ma
ton.
when you want q reliable medi-
cine for cough or cold take Cham
berlain's Cough Remedy. 1t can al
ways be depended upon and is plea
aaEa IN Iaka For aalp nv