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PAGE SIXTEEN WL WILL DO IT. llios. E. Watson, Editor, ‘‘The Jef fersonian," Atlanta, Ua. Bear bir; The Knowledge that the subject has never been properly treated, or at least that the most im portant phases of the subject have . been avoided by the writers of the present period, snail be my excuse for addressing you. If you decide, alter reading tins Communication, mat the writer Knows enough of me subject, to be worthy of a public hearing, you have only to command me and 1 will do my best to bring to the light some truths regarding latter-day finance tnat have been obscured, either by reason of lack of familiarity with the facts or a desire on the part of iinancral writers to have them re main obscured. All previous attempts to solve the burning hnancial questidlis of tUe__ times have fallen far snort of the true sources of the present hnancial unrest. \ The Interstate Commerce Commis sion, while undoubtedly achieving wonders in the matter of railroad and trust investigation, have thus far succeeded only in uncovering a great deal of rottenness and dishon esty in the matter of railway and insurance management, and up to the pi esent time, no adequate remedy for the evils of over-capitalization (stock watering—which are the un derlying causes of all the labor wars, and other deplorable oppressions of the “under dog”—has been suggest ed. That the products of the farm are unmercifully taxed,' that the burden of the taxation fails upon producer and consumer alike is due to the ne farious practice of stock-watering by railroad corporations and other common carriers. < ♦ That nearly all of the troubles arising from the demands of organ ized labor for a wage that will enable them to provide the products of the farm and the dairy, and the loom, for themselves and their dependents, are directly tract able to the system of stock-watering and over-capitali zation is a fact that may readily be Honor to Whom Honor is Due Tom Watson is Entitled to Honor for the R. F. D. System. McCauley, Tex., June 13, 3907. Hon. Thos. E. Watson, Thomson, Ga. It has been my impression all the while that you were the man who introduced the bill in Congress by which rural free delivery was obtained. A clipping from the Dallas News, which I enclose herewith, gives the honor to Eugene Loud, of Califor nia. What about it ! Please answer in July Magazine. Yours truly, J. N. BRADBURY. Thomson, Ga. June 17, 1907. Mr. J. N. Bradbury, McCauley, Tex. Dear Sir: Your favor received. Hon. Eugene F. Loud, of Califor nia, had nothing to do whatever with originating rural free delivery to people who live outside of towns, cities and villages. I remember very WATSON’S WEEKLY JEFFERSONIAN. recognized by any one who takes tlie trouble to deive beneath the sur face of things. That in a land of plenty, 'such as ours is, there should exist such a thing as downright poverty and want is due to the crime of over-capitali zation, added to the criminal prac tices of Wall Street. That the criminals are aided and abetted in their iniquitous work by the national banking institutions, and trust companies, as well as the U. S. treasury, is also a fact that is sub ject to incontroveitible proof. THAT ALL FINANCIAL AND COMMERCIAL D EPRESSION S, PANICS, LOCK-OUTS AND STRIKES, ARE DIRECTLY DUE TO,WALL STREET, AND THE STOCK MANIPULATORS, IS A FACT THAT IS SUBJECT TO VERIFICATION. This is a strong statement, but I can prove it. There is no legitimate reason for poverty in this country; there is no reason for any one being dependent upon charity for an existence in a land that is blessed with the nat ural resources that this country pos sesses. The entire category of financial ills with which the land is afflicted may be traced to one distinct source, and that source lies mighty close to the New York Stock Exchange. By regulating the business of the New York StodE Exchange in a man ner that I can suggest, and in away that will in no wise restrict legiti mate financial operations, such trans actions as the notorious . “Alton deal,” “International Power deal,” “American Shipbuilding deal,” and the United States Ste(a)el transac tions, will be impossible. Lawson’s much-touted “remedy” has been indefinitely deferred, be cause, as he says, the people are not ready for it. The fact is probably Lawson realized that he might “slay the goosAhat has been laying his golden eggs,” if he told the whole truth. If you want this remedy I can give it to you! distinctly that Mr. Loud threw cold water on my proposilion when I tried to pass the resolution which is the foundation of the present ruial free delivery system. He said to me: “Why, that scheme of you is would cost th* government sixty millions of dollars.” My reply to him was: “Well, even if it does, the people pay the money, and the people ought to get the benefit.” If the editor to whom you refer will turn to the Congressional Rec ord for February 17, 1893, he will get the facts, and will not have Io depend on my word, or the word of any one else. He will find from the official record of Congress that on February 17, 1893, Congress adopted as an amendment to the postoffice appropriation bill, a resolution of mine appropriating ten thousand dollars for experimental free deliv ery of mails to people living outside I am an ex-stcck-broker, and an ex-bucket shop man. I know the game from start to fi.-ish, and 1 de sire to say right that of the two evils the New York Stock Exchange is by far the greater. I would like to tell the readers of The Jeffersonian just how some of the operations are handled whereby the public is skinned every business day in the year. I would like to tell you just how easy it is for a few clever men to steal a railroad or industrial enter prise, and at the same time, and by the same methods rob the confiding investor and speculator of his money. I also, to tell you how easy it is for clever men to make an ally of the United States Treas ury, in oMer that Uncle Sam may have the enviable (?) privilege of providing a “bank-roll” to back a ‘ ‘ skin game. ’* I want to tell you how your sleek bank presidents become a party to the transaction, and how the savings of the people are —figuratively speaking—put into a sack and used as a bludgeon to beat the savings de positor into disgorging what he has held out from the banks. This is truly a prosperous country. It takes a prosperous people to stand the piratical financial methods that prevail without rising in open rebellion against laws that per mit these things. If this were not a country of na turally wonderful resources, and we were not able to retrieve our losses to some extent in a short time tlye thieves would be obliged to stop plundering for want of something to steal. THERE IS NOT A SHARE OF STOCK QUOTED ON THE NEW YORK STOCK EXCHANGE TODAY THAT IS NOT SELLING VERY MUCH IN EXCESS OF ITS AC TUAL VALUE. THERE HAS BEEN MORE “WILD-CATTING” IN RAILROAD SHARES IN RECENT YEARS THAN DURING THE ENTIRE HISTORY OF MINING AND OIL FAKES. It is possible at this day for a couple of unscrupulous men, seeking their own ends, to plunge the entire of towns, cities and villages. Pre vious to this time there had been what was called tlltf “ Rural Free Delivery Sys’em,” instituted by Hon. John Wanamaker, Postmaster General, but this system was con fined to incorporated cities and vil lages. The country people, proper, got no benefit from it whatever. Yours truly, THOS. E. WATSON. We print the above because we have been taught in years gone by to spurn the name of Tom Watson. Politicians have said a great deal for the common people of our country, but we can see but little they have accomplished*in the way of good. Watson has done a great deal of talking, but has accomplished some groat things, and the politicians are now trying to steal the honor that belongs to him. . The farmers will learn to give Watson the praise for originating the R. F. D. system. And railroad men will learn to praise Watson, for it was this tal- country into bankruptcy, a sudden break in securily values of twenty five to fifty per cent would wreck a dozen or more large banking institu tions and spread ruin over a terri tory representing more than one fourth the population of the United States. This is the condition that con *Th*onts us, and there is but one rem edy. Mr. Lawson stopped talking before his much-touted “remedy” was reached; why did he do so? Simply because if he told the whole truth and gave his “remedy” to the world he would “kill the goose that lays the golden eggs” for himself and his followers. I have a remedy, and it is (I be lieve) the same one that Lawson .had.in mind, tl is at least the only one that will serve the end in view. I would like to tell you what it is for the benefit of The Jeffersonian readers. I mast, for the time being, remain ( incog—that is the only condition that I shall impose in arranging to give the story to your magazine. Yours truly, ROBERT JAMES, Augusta, Ga. P. S. —I can show how a man with a seat on the New York Stock Ex change, and a few hundred thousand dollars, can organize a company, sell the stock to the public at fancy prices; “bea>'” the stock and frighten weak-kneed holders into selling at panic prices; buy it back with their own money, and repeat the operation back and forth until he eventually has all of the stock and all of the money as well. The Wall Street Press and Nbw York Sun cut a big figure in these operations. ’ R. J. Editor’s Note: —Have written our Augusta correspondent to send in the article. That’s just the kind of information The Jeffersonian Maga zine loves to publish and dissemi nate.—T. E. W. N. B. —Please excuse the big words I occasionally use, nowadays. I find myself more inclined to jaw-breakers since I left New York and came to Atlanta. I think it must be the at mosphere. Possibly, the water. ented congressman from Georgia who introduced, fought for and secured the passage of the bill compelling the railroads to equip their cars with automatic couplers. This device is saving thousands of men from being killed since it has done away wi'h the old link and pin method. The national democratic ticket was once headed by Bryan and Watson. Who would object to the party next time by Watson and Bry an —Watson for president and Bry an for vice president!—Scullin (I. T.) Advoncate. Henry James says that he never heard an American woman gay “thank you.” Perhaps he never gave any one reason to do so.—At lanta Journal. 4 * 1 rarely meet an American gen tleman,” says Count Boni. Never, if the American gentleman can help it. —Minneapolis Journal.