The Connecticut labor news., 1921-02-18
CONGRESS AGAIN
 ON THE TRAIL OF
 THE MONEY TRUST
Congressman Baer Charges Group of Bankers With "Defia-
 tion' of Values.

Washington, Feb. 1S.-Congress. is
 Money Trust in a resolution offered by
 Representative John M. Baer, of Nortl
 Dakota, a bold fighter who owes his
 post to the activities of the Non-Par-
 tisan League. Accompanying the reso-
 luton are allegations of the most startling nature.
 It Is set forth that a group of bank CTS during the past five and a half years have made millions of dollars out of the mlsfOrt1nes and miseries of the people, and is now enforcing dras- tic 'detlation' of values that will double the value of its bonds while causing terrific losses to the nation.
 The immediate effect of this ''defa- ton" IS the enforced idleneSS of nearly 100000 workers and the impoverish- ment of the farming population, with incidental untold suffering and priva- ton. Oklahoma farmers have aban- doned their cotton fields because they cannot raise money to pay the labor cost of picking. In Wyoming there are market. In other parts of the country there is an abundance of cattle feed and no cattle.
 In some sections scarcity of money compels farmers to sell horses at $3 a head, which are killed and fed to hogs. Southern farmers are sacrificing mules at 10 cents on the dollar and other property IS being thrown over at si1ni- lar sacrifices.
 Kansas farmers are deserting the land and ruined families are becoming wanderers on the face of the earth" Every state adds a chapter to the story of destruction wrought by the Money Trust
 The Pujo committee several years ago went after the Money Trust and most succeeded Ill tracking 1t to its lair. It found that the bankers who made up the group are Morgan & Co.,, The Ma tional City Bank, the First National Bank, and kuEn Loeb X Co, of New York; kidder, Peabody & Co.,, and Lee, Higginson & Co.,, of Boston and New York.
 Revelations that came out of this in vestigation shocked the country and con- tributed substantially to the upheaval that put Woodrow Wilson into the White House and secured the enactment of a law creating the Federal Reserve System. This law was intended to free the people from the tentacles of the octopus, but 1t fell under the domination of New York bankers and has been made to strengthen their posi- ton and further harass the public.
 While the nation has been prostrated by the eXtort1ons practiced upon 1t, the four banking institutions were getting from the Federal Reserve banks an av- craze of more than $118,000,000 each, as much money as the reserve banks at St. Louis, Kansas City, Minneapolis, Dallas and Richmond combined were lending to more than 4,O00 member banks in 21 states, comprising more than half of the area of the antion.
 The control of credit and money has enabled the international bankers to in 4ict a loss upo nfarners of more than S8, 100000, and this loss, passing out to he nation, is doubled and trebled.
 The Baer resolution directs the Bank ng Committee to make an exhaustive investigation of the Money Trust and o that end 1t is authorized to subpoena he Controller of the Treasury and oth- sr public officials and members of re- serve and member banks. Refusal of hese men to testify terminated the in luiry of the Pujo committee before 1t lad completed its work.
 When the Money Trust and its crimes Ire revealed, there will be furnished a sufficient cause for nearly all the ills ] hat aff1ict the nation.
 Confidence and leadership are neces- ,ary i'll any movement, hence the | necessity for you to always demand the l 1nion label, shop card and working | button. l