The producers news. [volume] (Plentywood, Mont.) 1918-1937, 1926-01-08
THE ECONOMIC SIGNIFICANCE OF BILLION DOL.
LAR BANK MERGER IN WALL. STREET
By John Gabriel Soltis

Soon after the conclusion of the Civil war; tremend
out growth OF industry took place the nation The defeat
OF the Southern landlord class prepared the ground for the
colossal development of all industry including farming The
Civil War affirmed the industrial supremacy of the northern
Capitalists 1t placed the political power of the nation into its
hands hat has been fully used assist the rapid and
expansive growth of heavy industry and to permit the pro-
OF justification to proceed unhampered by the powers
that be.
During the Mckinley administration the nation wit
messed the era OF justification coming in full pace The
steel industry consolidated he railroads merged The pack
ing industry became tust6ed The coal operators united for
production purposes Standard oil was highly and efficiently
usitled In the industrial world mad scramble to
institute monopoly and crush competition
By the time that the second Roosevelt administration
went out OF office the entire industrial fabric of America was
concentrated into mighty dominating trusts The so-caed
uustbustng program of Roosevelt really amounted to the
perfection of the nteockng directorates In other words
Roosevelt contributed greatly toward the final chapter of in
dustrlal justification AS trust buster he was good
monoPOlst His big stick merely a bio bluff welded
for the special edication of the hoipooi For after his ad
insatOn only the natural elements of the Sun and the air
remained unrused However even this statement does not
apply to the aocous tenement districts of the great industrial
cities.
Financial Monopoly
Now after the consolidation of industry had been achev
ed its industrial SIDE power arose in the economic
held which today controls the that have risen during
the last 81 years That power finance capital which is
Planting>its tentaces into the trusts of the nation
, The money power the trusts where, former
w. they owned by the industriasts The power of Wall
Direct absolute in the domain of finance industry and
government Washington but echoes what Wall Street de-
crees Industry manipulated the ends of Wall Street
Under present conditions the iron mercy of nan-
oia ogarchy ruthless and brutal its designs upon the body
polite
The billion dollar bank merger in Wall Street is the
necessary and inevitable step the organization of super
money trust required by the finance capitalists to perpetuat
their sanglehod the farmers and workers of nation
well other nations 1t the last stage in the evolution of
capitalism considered enthusiastically 1t also crushing
blow to the economics and politics of the refomers of capital
Ism, such as are the liberals of various shades
One of the very first effects of this merger will be the
nerciess determination of the small fry in the banking world
once 9Zl thousands of petty bankers in the farming dis
cts have been wiped after they performed the dirty
on the organization of the farmers Their reward was in ac
cord with their desserts They passed from the scene noby
he new economic forms which capitalism brings forth do
not respect neither the property the persons of the
middle class 1t decasses them at one stroke Thousands of
other petty bankers will be decassed Then they will be