Evening star., 1924-10-24
-LAFO[LETTE VOWS
WAR ON INTERESTS
Says, as President, He Would
Punish Those Who Make
Threats of Panic.
BY the Associated Press.

BY the Associated Fress.
LA TOILETTE SPECIAL EN-
ROUTE TO SYRACUSE, DETROIT,
october 24-As he travelled Eastward
today from Grand Rapids, Mich,
where he spoke last night. to SYRIA
cuse, n. Y. where he is scheduled to
deliver an address tonight, Senator
Robert NJ. La Toilette, independent
presidential candidate. declared in
statement that "It is being whispered
about by bankers, railroad operators,
industrial trusts and the press con-
trolled by them that should La Fol-
lette be elected there will be a panic;
that credit would be shortened and
that banks will withdraw their sup
port to business.
This is the same old bluff that has
been used at this stage of every cam
paign in which there has been real
ISSUE" he continued.
I'm 1912, when Woodrow Wilson
was a candidate, the tinanciers and
trust magnates threatened that if he
was elected there would be a panic.
He was elected and there was no
panic. They have used it in State
elections. They have even used ii
in city elections. 1t is a sure sign
of reactionary distress.
II do not question the power of
Wall Street to produce a panic, but
l challenge their courage to put
through the conspiracy which they
proclaim, with the penitentiary star
ing them in the face.
Power of Banks.
"Panics have been brought on by
the banks. The banks have
1T in their power to control the in
dustrial life of America and to bring
on a depression. And they now are
boasting that they have it in their
power to control the way men should
vote as we'll
L intend to meet treason, bribery
and terrorism as any other crime
against the State should be met.
IF l am elected, as l fully expect
to be, and this wicked thing is done
Or attempted to be done, the Depart
ment of Justice with all of it's agen-
cies of investigation will be instruct
ed to bring their crime against
free people face to face with sum-
mary justice. The punishment shall
be swift and sure.
The Department of Justice will be
instructed to indict and to bring to
trial any man, no matter how pow
erful he may be, who has been guilty
of an attempt to use his power over
the money and credit resources of
America. not only to wreck business,
but to influence mems votes by in
or BTlDeTE IN any form.
Would Use Reserve system.
Il will go further than that. Under
the Federal Reserve act banking Is
d quasi-public business. 1t is under
Government supervision. Our credit
resources are assumed to be agencies
OF relief rather than of plunder.
They are supervised by a govern
mental agency, the Federal Reserve
Board. | shall instruct that board
to consider any such action by any
member bank to be a criminal be-
trayal Of its relations to the Gov
ernment. | shall instruct it to treat
any such bank as an enemy of the
public, and as such enemy to be
unworthy Of participation in the
faNors which the Federal Reserve sys-
tenn has in its power to grant.
Il will go further than that. There
are hundreds of millions of public
moneys in the treasury. They are
deposited in private banks. There are
hundreds of millions of postal saw
ings which are also deposited in the
national banks. There are other
millions of which the Government is
trustee which are deposited in. ma
tional banks.
Rcmove Funds From Such Banks.
Il shall instruct the proper agencies
funds from any banking institution
that makes war on the free voice of
the people in this wav Any insti-
tuition which engages in such a GRIM
inal conspiracy shall be deemed un-
worthy of the confidence of this Gov
ernment of yours. In other words,
no man or group of men, can make
war on the free, sovereignty of the
people to satisfy his private greed.
No man, or group of men, shall de-
Stroy the wealth of others without
paying the price for such destruc-
ton. And no bank shall be trusted
by this Government of ours that has
shown itself unworthy of such trust.
THAT is the elementary principle
of Democracy. And under my ad-
ministration this Government of ours
will protect the people from such
reasonable acts"
Senator La Toilette is due TO ar
rive in Syracuse less than an hour
before he is scheduled to speak. His
route from Detroit to Buffalo lays
through Canada.