Indiana daily times. [volume] (Indianapolis [Ind.]) 1914-1922, 1920-02-28

some sort of promoter. President Will
son. however, knew this man and made
him secretary of the treasury. At once
hcAdoo got busy. The first thing he
discovered was that the National City
Bank of Wall Street, had a salaried clerk
with his desk in the controllers office
IN the treasury building at Washington.
McAdoo wanted tt know why he was
there and how much rent he paid the
government? He was there as a spy
the Morgan way-to get reports on other
banks and on financial affairs generally,
for the inner circle of the Wall Street
buccaneers. Under republican rule what
ever Wall Street wanted Wall Street re-
celved. But McAdoo put the sskids under
the hireling and shunted him toward the
Potomac
Next the secretary learned that the
sanity John Wanamaker was $500 900 be-
hlnd In the payment of export duties
on goods made by European "pauper
labor" The republicans said that. they
sought for months to collect the money
Tor the government, but Wanamaker
would not come across" In six days
notice he "came across" for, McAdoo.
This accounted for the fact of whole
page advertisements against Wilson in
I9l6, paid for by John Wanamaker--
he wanted his republican chums back in
power
Then the money sharks got another
Jolt. Knowing that vast sums of money
had been loaned to pet banks in Wall
street from the United States treasury,
with never a cent OF interest paid for
lts use, more than S33,O00,000 had been
lost even at per cent, Mr. McAdoo
SAID This win not go now. After
June ], 1918, not a dollar goes to any
bank without paying the treasury inter
est therefor" The Street beloved Ike
bulls and growled like clears" But
In two years time McAdoo saved the
people the snug sum of 81, 732, 1888 In
interest. The new reserve law then elm
mated loans to banks.
The blood suckers of the Street next
laid cunningly devised basis for
Honey stringcncy. Today they are
adopting the same dirty plans. Their
emtssaries were sent out to bankers
banquets to tell the assembled banaueters
how portentious the clouds looked. They
TAXED OF a money scarcity all over the
world, that American securities held
abroad were TO be dumped back upon
US that II would take all our gold re-
serve TO pay for under-par paper. After
spreading their slime throughout the
Countrywide panic was ready TO fame
OUT IN all its Wall Street effulgence-
L L
forgotten who was on the Job at Wash
itEton- They had forgotten who nut fha
tunnels under the New York rivers. II
was McAdoO, and with equal skin he
Slapped their subterranean passsgewsy
lie punctured the panic bubble He
coolly announced that the treasury had
$9oo'coo,0O0 brand new, SILK hres.iad
currency that could be put Ia circula.
non IN a days time. CONSERVATION hit
the street The cospirators were caught
IN their own trap. The banauets stonnaa
One old guerrilla was heard 70 sav:
nat 5 Mat comes rom putting a
damned ch-dlgger in the treasury
reader, review that story--tt is one OF
ABOUT this same time the Farmers were
needing money to move crops. NfcAdon
saw 70 II that they got II Flftv mil
ION dollars we're assigned to banks in
the grain states, McAdoo was hailed
as the farmers deliverer One national
p4nkeF SAID 1T came as mama from
heavenl' Another wrote: eft makns
tears OF Joy come to my eyes In 1rst,,
tude 70 our Creator for the gift AZ surh
man" with the coming OF the geA
erai reserve law things OF this sort are
past history.
More than any one man William Gibbs
AcAdoo wrought out the details Of orr
present money systematic greatest ever
known to human history. Under IL we
have gone through the greatest eataclysrn
that ever shook the earth. and the svs
tem itself never felt a culver The
wreck Of the whole world NY have
been aveFted by Il. Under ahe old Wau
street regime panic would have been
Inevitable when the German horde broke
loose. Only an idiot can say that dire |
peril would not have assailed us.
In the war work Mr.. McAdoo was GER
tninly the snper man. Ire engineered the |
Liberty loans He devised all the wars
and means. Ills first proposal was 10
tho banks. They offered 100000 900 at
~ per cent He needed two hilton aol
lars. Knd was ready to pay 3Is per cent
for the money. Banks refusing TO be
interested McAdoo took the matter TO