Perth Amboy evening news., 1922-08-22
SPEAKS
At JAMESBURG
Rail Strike Issue Again Raised
in His Campaign Against
FreIinghuySen

IN1s aug. eSAhS IHN
recent developments in the negotia-
| tons between President Harding.
Secretary Herbert Hoover, and
prominent bankers. in their effort to
settle the railroad strike, George l..
| Record, Progressive candidate for
the Republican nomination for Unit
ed States Senator, last night sought
to illustrate his much discussed con-
, tention that the railroads are in con-
troll of a group of bankers who are
behind the railroad trust, the beef
trust and other monopolistic inter-
ests.
He demanded to know why the
plans were submitted to these bank
ers before being made public and
why they were not publicly placed
before the railroad officials and the
strikers directly. He condemned the
system under which this banking
group is in control and accused his
opponent, Senator Joseph S. Ere
linghuysen of being largely respon-
sible for the condition, in that he
has never moved but to strengthen
these mohopolists when he could
and should have struck death to
their system.
Mr.. Record continued:
zone of the New York papers car
ried the other day a very interest
ing inside story of the negotiations
between the President and the rail
roads looking to the compromise of
the railroad strike. The substance
of the story is that Secretary Hoo
yer conceived a plan of compromise
which he thought would be accept
able to the railroads and took /. to
n.y., Vail T,SfanI Of onino RI the
railroad executives. however, Mr..
Hoover went to a prominent banker,
whose name is not given. but who
was alleged to have very great pow
or over the railroads. Mr.. Hoover
negotiated with the banker and he
and the banker agreed upon a COM
promise, which the banker assured
him he could compel the railroad
executives to accept. Their Mr..
Hoover joyfully returned to the
President and told him the result
of his negotiations, and thereupon
the President in the full assurance
hat his compromise would be ac-
cepted, publicly submitted his plan
to the railroad executives and the
Union officials. To his amaZement
the railroad executives fatty refus-
ed it. The President sent for Secre-
tary Hoover and Hoover went to the
banker, who explained that the
Presidents statement of the propo-
sition differed in important particu-
lars from the plan agreed upon be-
tween the banker and Secretary
Hoover.
1.-THE gossip is that the attempt to
locate the responsibility for chang
ing the plan as arranged by the
banker led to something of a breach
between the President and Secretary
Hoover. That. however, is not m
portant. The important thing is that
when the President of the United
States wanted to negotiate with the
railroad executives he did not SEND
to them at all, but rather to a pow
erful banker in New York City. The
President and Mr.. Hoover knew, as
the public does not seem to know
that the railroads are not run as to
important measures Of policy by tht
railroad officials, but are admins
tered by a syndicate of bankers and
%inanciers, whose interest in the rail-
roads grows out of their desire to
control the railroads to support the
great trusts and corporations deal
ing in railroad supplies in which
they are interested.
"This illustrates the point which
1 have been pressing home that the
private ownership of the railroads
vests in the hands of a group OF
financiers a power over industry and
commerce so great and vital that 1t
cannot be safely entrusted to any
group of men. No group of men can
hold such power without abusing it.
The temptation to do so is irreslst-
ible. 1t is because these financiers
have abused this monopoly power
by grinding down the wages of the
men employed on the railroads. and
the men employed in their mines
and steel mills, that we have the
strikes in these great industries and
services which periodically occur.
This situation is bound to con-
tinue and there can be no final solu-
ton of the problem until the gov
eminent takes this enormous power
away from the banking syndicate
and operates the railroads as the
government operates the postoffice."
Mr.. Record will talk at Red Bank
this evening. Tomorrow he will talk
at South Amboy and Thursday at
Plainfield.
The Record tent was located in
Willow street. attention to the meet
ing being called by the use Of aerial
bombs and a cornetist VINO went
about town in the motor truck used
to carry the ten and chairs from
place to place. About $50 persons
heard the candidate speak. Mrs.
Mary r. Laird of Newark, assem-
blywoman. spoke also.