The daily telegram. [volume] (Clarksburg, W. Va.) 1901-1926, 1914-07-06
PSYCHOLOGY ami Facts.

The president thought he had ex.
ecuted master stroke when he gave
out few letters from various sections
or the country asserting that business
depression was more in the minds of
some Representatives Of large interests
who were concerned with defeating the
trust legislation now being pushed at
Washington, says the Financial
world. His correspondents all de-
clared business was good but 40 names
were cited, hence the calibre of the
business men who wrote cannot be
gagged. Mr.. Wilson's Secretary Of
the Department of Commerce. Mr..
Redheld. triumphantly asserted also
that there could not be much depres-i
sion In the steel industry while such
concerns as the Maryland Steel
Company were able to sell steel rails
in Australia, as they have recently. in
competition with the whole world.
The general sales manager of the
Maryland Steel Company, j. C. Jay.
Jr, replying to a telegram asking his
comment on the. Redfield statement.
wired this: !.
"The order for rails for Australia
to which you refer will keep our rail-
mills occupied for ten days. The
order Is unsuited to our mills, both in
specifications and weights. 1t was
taken solely to keep our men employ
ed
Our business is. in a more depress-
ed condition than in the period fol-
lowing the so-called panic of 1907.
The tonnage on our order books today
&c ,n~1 aI
year ago, and prices are very much
lower.
Il consider the present depres-
since 1896"
Mr.. Jay is probably a real jay and
doesn't know what he is talking about.
In fact, he is worse-he's business
man and needs psychopathic treat
ment for his psychological condition.
Senator Owen, staunch administra-
ton supporter, Is evidently. willing
to concede that there is some actual
trade depression, but 1t Is unnatural
and caused by the Vaccinations Of
three groups" Of bankers located in
New York, who control $22 200, O00,-
O00 (22 billions) of capital and have
their hands on all the railroads and
big Industries that, exist and make
them look rich or poor as they like
by merely ordering the earnings state.
ments doctored. He says:
These men can forbid the railways
to buy rails or steel cars, or to buy
frogs and switches, or lumber, or
crossties. These men can put out OF
employment thousands upon thousands
credits In every district where Rep
resentative is to be elected this fail,
and In every state where Senator is
to be elected. These men have it in
their hands to send down to defeat
any candidate, be he Democrat, Pro-
gressive or Republican, who does not
sympathize with them
The railroad barons evidently got
busy last week and ordered all the
principal railroads in the country TO
doctor their gross returns for the first
week In June, because gross for that
week was $12,29S, $50, a loss of 81 per
cent. from the corresponding period
OF 1918. The steel mills are operating
at SO per cent. but that's ali con-
spiraey and the figures have been
juggled. And so we could go on in all
lines and show up the whole fellish
plot and even show that these bank
ers actually pushed s70, 100000 OF our
gold onto Europe in order to spite
Washington. There is no doubt that
the European crisis alling for the
gold is all myth. In May there was
an increase of $67.0O0,00O against us
in the international trade balance, as
compared with May, 1913, according
to the administration own figures.
and so we must extend the conspi-
racy theory to include the foreign
bankers as well.
What wisdom, what statesmanship.
now rules In washington,