16057. Knickerbocker Bank (New York, NY)

Bank Information

Episode Type: Run → Suspension → Closure
Bank Type: state
Start Date: October 22, 1907
Location: New York, New York (40.714, -74.006)

Metadata

Model: gpt-5-mini
Short Digest: 962a0e4f

Response Measures

Accommodated withdrawals, Full suspension, Books examined

Description

October 1907 run on the Knickerbocker (Knickerbocker Trust/Bank) during the Panic of 1907; heavy withdrawals Oct 22–23 followed by suspension/receivership reported Oct 24. I mark bank_type as 'trust' because contemporary historical references identify the institution as Knickerbocker Trust Company, though many articles refer to it generically as a bank. Run appears driven by the wider Wall Street panic (macro shock) rather than a discrete hoax or purely bank-specific insolvency in the excerpts. Receiver appointed => permanent closure/receivership.

Events (3)

1. October 22, 1907 Run

Cause: Macro News
Cause Details: Large panic on Wall Street in mid-late October 1907 produced heavy withdrawals from Knickerbocker; widespread credit contraction and panic conditions.
Measures: Paid out large quantities of cash to depositors during the run (e.g., $44,444 per minute for three hours; ~two million in currency reported); local bankers and federal officials intervened to provide liquidity.
Newspaper Excerpt: Knickerbocker Bank Pays Out $44,444 a Minute for Three Hours ... of the biggest run experienced here in a generation
Source: newspapers

2. October 24, 1907 Receivership

Newspaper Excerpt: When it was reported that a receiver was to be appointed to liquidate, the crowd started a demonstration which was promptly quelled by the police. The deposits in this bank total $71,000,000 ... Knickerbocker bank receivers thought they had a snap when they asked $200,000 each for 'receiving,' but the court finds ... $75,000 each.
Source: newspapers

3. October 24, 1907 Suspension

Cause: Government Action
Cause Details: Bank examiner/receiver took charge and receivership/liquidation was reported following the run and loss of confidence.
Newspaper Excerpt: Knickerbocker Bank Fails ... The bank examiner is in charge of the Knickerbocker bank today. ... reported that a receiver was to be appointed to liquidate
Source: newspapers

Newspaper Articles (13)

1. October 23, 1907 Bismarck Daily Tribune Bismarck, ND

Article from Bismarck Daily Tribune, October 23, 1907

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WALL STREET GETS A HARD JOLT--SEC'Y CORTELYOU PROFFERS HELP TO BANKERS Knickerbocker Bank Pays Out $44,444 a Minute for Three Hours and Quits---Price of Money Soars High---Secretary of Treasury on Ground With Money to Loan If Needed New York, Oct. 22-Credit, the un- to appeal for relief to the secretary dersurface foundation of all business, of the treasury. All this was in the face of reassurtrembled for a time today, and before confidence could be restored, ing statements by the acting states superintendent of banks that the susNew. York's second largest financial institution had emptied its cash pected bank was solvent, declarations by prominent bankers that there was vaults under pressure. of the biggest run experienced here in a generano true basis for alarm, and assurtion, a stock exchange firm had failances from Washington that Secretary Cortelyou would not hesitate ed for six million dollars, Wall to act proomptly in any situation street's principal securities had setwhere legitimate business was threattled from $5 to $8 a share, call monened. ey had risen to seventy per cent, Now that the first scare is over and local bankers, unable to stem and the worst of the future discountthe tide of distrust, had been forced (Continued to page 4.)

2. October 23, 1907 Okolona Messenger Okolona, MS

Article from Okolona Messenger, October 23, 1907

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NEW YORK CITY'S FINANCIAL. HILE the South is gliding along on easy street, enjoying prosperity as it has never before been able to do in forty years, the great gambling center of the nation, New York City is passing through a week of panicky times not known before in years. The happy consolation of the present situation is that the times has passed when fluctuating finances on Wall Street seriously effects the country, and especially is the South now acsolutely immune from any danger from the scares which used to reach it almyst simultaneously with with a flurry on Wall street. Those plungers in New York who have been gambling on the necessities of life, and in a large measure the cause of every depressing price of the staples, have finally reached a point where they are compelled to hand over the cash, and the result is that such financial institutions as have been used as the allies of these brokers, have been forced to suspend. A craze started among the depositors of the Knickerbocker Bank, where the "bloods" and "swells" kept their money, caused ta run Tuesday which resulted in the bank being forced to suspend payment before hour for closing arrived, atter passing out something like two million in currency. Of course excitment ran high and Wednesday deposits were withdrawn from all the banks to some extent, from two or three others so heavily that two more suspensions resulted. At the time of going to press however, the situation seems to be improving, large holders of ready money rushing to the aid of all the legitimate banking institutions. and the Federal government also sending Mr. Cortelyou, secretary of the treosury, to New York with authority to use all available cash of the government to relieve the crisis. There can be no doubt but that ere another week shall end the fear of a panic which can in the least affect the entire country, will have passed, and a normal condition will be resumed. Whatever may be the aorrows of the New York plungers, the balance of the country is now in position to sit by and look at the squirming tadpoles in the meshes of their own slop.

3. October 24, 1907 The Alaska Prospector Valdez, AK

Article from The Alaska Prospector, October 24, 1907

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Knickerbocker Bank Fails New York. Oct. 24 The bank examiner is in charge of the Knickerbocker bank today. All other banks of the city are unaffected by the failure. New York, Oct. 24-All night long a liive of men has been standing on the street waiting for the opening hour for the Knickerbocker bank to draw out their deposits. This morning when it was reported that a receiver was to be appointed to liquidate, the crowd started a demonstration which was promptly quelled by the police. The deposits in this bank total $71,000,000 Chicago, Oct. 24-All of the banks of the middle, and western states report that thereaff ready to advance loans to the New York banks to carry them through the pario.

4. October 24, 1907 The Alaska Prospector Valdez, AK

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Knickerbocker Bank Fails New York. Oct. 24-The bank examiner is in charge of the Knickerbocker bank today. All other banks of the city are unaffected by the failure. New York, Oct. 24-All night long a line of men has been standing on the street waiting for the opening hour for the Knickerbocker bank to draw out their deposits. This morning when it was reported that a receiver was to be appointed to liquidate, the crowd started a demonstration which was promptly quelled by the police. The deposits in this bank total $71,000,000 Chicago, Oct. 24-All of the banks of the middle, and western states report that they are ready to advance loans to the New York banks to carry them through the panic.

5. October 25, 1907 The Montgomery Advertiser Montgomery, AL

Article from The Montgomery Advertiser, October 25, 1907

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DRIFTWOOD BY PHIL R. ARMSTRONG. A Pittsburg man has been fined $500 for fighting over a glass of beer in a saloon. Now if that had been in Atlanta-but why jeer at the dying? Birmingham has been entertaining the Press Clubs and we understand she did the square thing by the pencilshovers. + The Fair's the thing. All roads lead to Moving Montgomery As a companion to the Atlanta man who tried to make off with a piano the other day, Alabama has a young man who attempted to steal a yacht. + Teddy has returned home and the bears can once more breathe easy. + Roosevelt's silence in regard to the third term is said to be worrying the Taft forces no little. The run on the Knickerbocker Bank was.as strenuous as a football rush. Let's get up a big home-coming for our wandering public servants.-Atlanta Constitution. Well, you'd better get busy-you've no time to lose. The Montgomery Advertiser sings the praise of persimmon beer: and we desire to tell it right now that it can't get up any argument with us about the matter we know something about that stuff.-Washington Herald. No tidings more hopelessly discouraging and retrogressive have come out of the South in years than this report that The Montgomery Advertiser has declared for prunes. Richmond TimesDispatch A Tennessee man has discovered a worm that eats English sparrows. Many a human worm of the dust" has eaten them, supposing them to be red-birds. -Atlanta Journal. Taft is said to have grown pathetic when he talked of becoming a private citizen. It is the most pathetic sight in the world to see "a statesman out of a job" and oh such a 'fat' job as his is. A square deal will always get a round applause. Motto of a modern father to his son: Save up your money, my boy, and some day you may have enough to buy a United States Senatorship. Joys are not only transitory, but rapid-transitory. A Harvard professor contends that laziness is a disease. This being true a red-headed wife with a high Lemper, a low spirit and a movable jaw is a sure-enough tonic. Despite the fact that over 4.000,000,000 collar butrons were manufactured in this country last year, a man will go down in the corner and swear a blue streak when he loses one. "After all"- is The Montgomery Advertiser speaking "what is nicer than fat, juicy prunes for breakfast? Well, a half-portion of grapefruit or iced canteloupe or broiled bluefish or eggs and bacon or buckwheat cakes or finnan haddle or supply the rest yourself, we're crowded today New York Mail Upton St. Clair has been kicked out of a Newport society residence. Upton should know that brains will not be tolerated in Newport's Smart Set. A Chicago woman has saved enough out of the allowance her husband gave her to pay for a divorce. Nothing like being economical for these little exigencies will arise now and then. The country is agitated over the fact that two young women in Paris have swindled a rich American married man out of $2,000, as if the thing hasn't been going on for years. The President took a cold plunge into the water with the mercury below 40 which was the only chilly reception he receved while in the South. On the planet Neptune, one year is 60,000 days long. What a cinch for the papas at Christmas time a The Governor of Illinois sent 10,000-word message to the Legislature which proves he's something of an inkslinger himself. Radium is the costliest thing in the world-except experience A Pennsylvania man who made his own coffin several years ago, has been by his wife to sell it because it forced is out of style. It must be a source of much comfort to the gentleman aforesaid to know that he has a wife who is so considerate of him. When mother-in-law comes in at the door love (or rather hubby) crawls out the window. + A lemon grown by a Madison County man measures 13 1-2 inches in circumference. + Undaunted A little while to work and play, To laugh and cry, But what care I. Why not be gay? A song upon the lips and so I'll rail at Fate, Early or late, Though I should go. Aye-though I fall along the way I'll rise again-

6. October 30, 1907 The Montgomery Advertiser Montgomery, AL

Article from The Montgomery Advertiser, October 30, 1907

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DRIFTWOOD BY PHIL H. ARMSTRONG No Sembre Black. When I am goneAh. let me lie Neath the perfect blue Of the Southern sky Let me know That at my head Wars with the breeze, The rose so red. And somewhere near My house of gloom The white magnolia's Sweet perfume. No sombre black in sympathy But Nature's brightest shades for Afterward Afterward what then? No more to walk with men. Under the ground to sleep ((A few one day shall weep.) Up past the farthest star Where the winged seraphs are? Or into the pit of Hell? Who- who can tell or maybe for this tired breast Just a long unwakened rest. While Toddy praised the man who walks the baby he didn't say anything for Fairbanks for nursing a forlorn hope, + There has been a big run on the Ala bama violet banks of lat4. but there is no danger of a panic It is only the usual rush of fall-time nature lovers Drink and the world drinks with you, live in a prohibition State and you drink alone! + + People who think there is nothing in fortune telling ought to count up the number of bright dollars that our superstition forces us to give up every year. + "Sardine" is the name of a small town in Escambia County Soap was invented over 3.000 years ago, but there are lots of people when who even today are very considerate it comes to a use of the invention. ++ is news Item states that there A one young lady left in Borum Ala. only Alabama's fair young women are not long single. + + The First National Bank of Scotts the horo. undaunted by the run York on will at once Knickerbocker Bank of New build erect a handsome new ing. + have J Underwood and Mrs. just Turner. married. of Jackson County of age and the The bride is 70 years Wonder if it 26 years of age groom was a runaway match or If there were no objections + + its changed name. Stamboul obLa. With cannot possibly drop into total security. A candidate People." for office In in Pennsylvani his speeches of ror of is named willing to make an 'the he is probably grammar in order to say + People is the thing. is close enough now Thanksgiving Turkey-dressing to almost smell the + + worry. Rockefeller says "Cut his out advice all If we were "troubled We could easily take with nothing more than cutting out coupons. Hooray for the glorious sound frosty out in morn- the the only nuts by ings, where cracking of the of the woods is the squirrels and the merry whistle the happy blithe Bob-White. Last call poets for the Indian Summer + You can hardly hear well-fed the contented Alabama bronze gruntings the of silvery the gobble of the fine big shoats Thanksgiving for turkeys these mornings + + and Is still good collateral. a bale Cotton to pawn the man who trouble wants in getting money, remarks will have The no Dallas + News. a says activity, destrian "This is an age certainly of 18-to the DC- an auto-car magazine who It gets in the way of + + tel. is said to be world. the greatest If that is Boston user in the be a "hello girl" up there all day. ephone true we'd and hate have to to translate Bostonese were recently All red-headed at women a Boston entertain- Houston admitted free were not from ment. They we believe. Tex. however, +' In 1030. little building is that funny doors, asked the "What swinging South That with the visiting the was what tourist who replied was the guide, they called a saloon. Nineteen-Hight All single maids. Do not despair: new chances Your Aro more days than fair. The happy near; For Are nineteen-eight drawing.ru Is leap year Detroit Free Press. expect We then from youTo hear maids So You single good and true. On next year we prop our hope will The And trust question you pop Ohio Sun on bachelors, suddened eyes. With would draw If you splendid Drize n-eight Makes ninetahort.stay While its Texas in some Get Maiden's way Houston Post. or If "gome way Texas Maiden's way stay. Is not your don't you Why Alabama Toward

7. November 5, 1907 The Nome Daily Nugget Nome, AK

Article from The Nome Daily Nugget, November 5, 1907

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MISS GLADYS COUNT. While the court was making the order that made Miss Gladys Vanderbilt the possessor of $12,000,000 her affianced husband Count Whachucalin, sat in ourt and 'COK qu: te an interest in the performance. Soon he will probably hove principal and interest and Gladys will have the title. Taking this episode into account, and remembering the recent difficulties of New York's financial circles the bright idea comes to one that monstringency can be avoided in future by the simple method of creating American titles. That $12,000,000 could have stopped the run on the Knickerbocker bank Now. it will only set Glady's count going. It will probably be a repetition of the ase of the Countess of Castellane and the Duchess of Marlborough The count will keep the castle cleared by part of the money. other women will get the bigger half of the cash. and the countess will get an annuity. the children and the pretended sympathy of her apparent friends. It is little better than a sin to let young girls possess millions. The money merely makes them the prey of needy adventurers. But they cannot see it that way. They are quite sure that Alphonse and Gaston are dying for them. If the old Americans were alive who made the money the young gentlemen would probably be suplied with much stronger reasons for dissolution.

8. November 22, 1907 The Washington Herald Washington, DC

Article from The Washington Herald, November 22, 1907

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The little business done on the local stock exchange yesterday was at stationary or declining prices. Transactions amounted to 99 shares of stock and $4,500 in Capital Traction bonds. The price of Capital Traction 5s was scaled down to 109%, a lower level than these bonds have reached since they were first placed on the market, and the brokers were dealing in the "rights." Lanston sold 85 shares at $9 a share, also a low level for that stock. Moreover, the volume of the stock sold marks a new departure in the slow liquidation going on in the local market. # Mergenthaler Reaches 185. Mergenthaler sold a few shares at 185, a lower level than the stock has reached upon this movement. It is difficult for local holders of Mergenthaler stock to explain the low figures at which it is selling. True, there were rumors some time ago that the company had a large amount of money in the suspended Knickerbocker Bank, and there was at one time some anxiety as to the consequences. This rumor, however, has been authoritatively denied, and the fact is the company did not have a dollar in the suspended bank. This week the Washington stockholders record have received the October statement of the company, which is regarded satisfactory, inasmuch as it conveys the announcement that the directors will hold a meeting on December 10 and declare the usual dividend of $7.50 a share. The October report shows that during the month 136 machines were sold, 114 machines delivered, and 82 new orders received. The receipts of the company given in the report are $559,422.50 for the year, leaving a net income of $329,450.46, equal to 30 per cent upon the capitalization of the company. With such a showing local holders of the stock regard it about as good an investment as a government bond, and keep wondering what is carrying the stock down here, in New York, and in Boston, in all of which cities the stock is regularly listed. # Ginners' Report Issued. The ginners' report to November 14 was issued yesterday by the Census Bureau, and is better than was expected. It shows that the condition of the crop as compared with former years, is not nearly so bad as was expected earlier in the season. In fact weather conditions for the later development of the crop are favorable, and the figures look as though the crop would be something less than 2,500,000 bales short of that of last year when the returns are all in. The principal figures of the report are: Amount ginned to November 14 aggregates 7,311,202 bales, against 8,562,242 last year on the same date, and 7,501,180 for the crop of 1905. The crop last year was 12,983,201 bales, and that of 1995 was 10,495,105 bales, so that a moderate estimate of the crop this year, in the light of this report, is well above 10,000,000 bales. The statistics of this report includes 142,609 round bales for 1907, 200,866 for 1906, and 209,006 for 1905. The number of sea-island bales included is 42,708 for 1907, 30,671 for 1906, and 64,103 for 1905. The distribution of the sea-island cotton for 1907, by States is: Florida, 14,492; Georgia, 22,681; South Carolina, 5,535. There were ginned 6,128,562 bales to November 1, 1907. The statistics of this report for November 14, 1907, are subject to slight corrections when checked against the individual returns of the ginners being transmitted by mail.

9. November 29, 1907 La Correspondencia De Puerto Rico San Juan, PR

Article from La Correspondencia De Puerto Rico, November 29, 1907

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"Lusitania", ha hecho su primer visje entre Liverpool y Nueva York. Se asegura que hace marchas á razón de 27 millas por hora. El barco es monstruoso. Un periódico afirma que puede establecerse en la cubierta un servicio de coches de alquiler. -Un periódico de Nueva York anunció el 8 de Noviembre último que el gobierno de Washington ayudaría también con grandes sumas á los agricultores del Oeste. Estas sumas serán colocadas en los bancos del Oaste con el objeto de ayudar á los agricultores á hacer sus cosechas, Parece que los banqueros de aquella parte de los Estados Unidos no tienen bastante dinero efectivo para hacer empréstitos á los cultivadorer. -Los coreanos piden justicia. Han hecho una apelación á los cónsules extranjeros en Ssot 1, quejándose amargamente de la conducta con ellos observadas por el gobierno del Japón. Daclaran los coresnos que están en la esclavitud y que fueron e gañados por las palabras de los japoneses. La mayor parte de los firmantes de esa solicitud de auxilio son personas que poseen grandes riquezas. -Uno de los banqueros directores del Kaickerboker Bank cuya suspensión de pagos es ya conocida, atentó contra su vida. Mr. Barney que fué el desdichado suicida, se disparó un tiro de revolver en el vientre, en su propia casa. La bala hiriendo les intestinos por diferentes lugares salió por el hombro izquierdo. El banquero no murió en el acto. Tuvo tiempo de tomar disposiciones referentes al Knickerboker Bank y á sus propios intereses y rodeado de su familia esperó la hora en que debía hacérsele una operación de laparotomís, único camino, y sun du-dose que encontraron los médicos para salvarle la vida. Durante la operación murió Mr. Barney. Se asegura que sus compañeros en dicho banco están en la mayor consternación con motivo de ese sucero. -Circuló en Nueva Nork en diss pasados el rumor de que Mr. Rockefeller había depositado $100.000,000 en valoren del estado de los Estados Unidos. Un periódico manifiesta que si el señor Rockefeller posee tal sums de valores de tal clare que le convierten en el acreedor de una novena parte de la deuda de los Estados Unidos, el nefñor Rockefeller es un pe'ligro que puede en momentos dados ejercer una decisiva influencia en el tip) de cotización de los valores. -En el próximo año, la ciudad de Nueva York pagará $3776.641 más de inteseses de lo que pagó el año pasado. -En el Central Park de Nueva York hay 510 especies de pájaros diferentes. -Durante los últimos tres meses han desembarcado en la ciudad de Nueva York cerca de dies mil rusos. -Mr. Howard Gould, un conocido millenario de los Estados Unidos acaba de negarse á pagar las deudas de su mujer. Parece que la joven contaba con la bolsa de Mr. Gould, pero éste ha cerrado la lla've poniendo un anuncio en los periódicos en que dice que él pasa á su exposa rentas bastantes para todos sus gastos y que, por lo tanto, no está dispuesto a reconocer ni á pagar ninguna deuds que, contraida por su esposa, se le quiera cobrar. Dicen que la noticia de ese anuncio fué una sorpresa psra la joven esposa del millonario. Sa sfirma que asciende á $5,000 mensua'ss la renta que éste pasa á la joven, lo que no parece haber evitado que haya una cuents de hotel pendiente de pago. -En el palacio de Windsor en Icn-dres, se han reunido en un almuerzo, tres reyes, cinco reines y diez y seis príncipes y princessr. Int resantes fotografias fueron tomadas del grupo de monarcas. -El vapor "Carolina," de la New York and uerto Rico 8. 8. Co., casi terminadas ya las reparaciones que en sus máquinas se hicieron en estas últimas semanas, se incendió en el muelle en que estaba atre cado. Dicho vapor se llamó primero la Gran Duquesa. Las noticias referentes al suceso informan que el barco sufrió considerablemente con el incendio. Esto hace esperar que en mucho tiempo

10. March 30, 1908 Waterbury Evening Democrat Waterbury, CT

Article from Waterbury Evening Democrat, March 30, 1908

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Anyway, the domestic tribulations of the smart set do not particularly disturb the common herd.-Evening Times, Pawtucket, R. I. Orders have been posted in the shops of the Pennsylvania railroad system prohibiting swearing among the men while at work. Those who are at work will probably not feel inclined to resent that order.Morning Courier-Journal. The Hartford newspapers are a bit silent on the outcome of the mayoralty contest in Hartford. There was more talk about the candidates before the primaries than there has been since. Some sporting men are wagering money on Sullivan.-New Britain Herald. A New York church is much stirred up because one of the members of its choir sings on the stage during the week. One faction in the church wants her to resign at once, The other thinks the woman has a right to earn her living as she chooses, and that it is none of the church's business as long as she behaves therself.-Exchange. Knickerbocker bank receivers thought they had a snap when they asked $200,000 each for "receiving," but the court finds that it wouldn't be healthy for them to receive more than $75,000 each. It's getting so a bank might as well throw away its assets as to go into the hands of receivers.-Bridgeport Post. The New York World gives a pointer to young physicians who expect to hang out their shingles somewhere this year, after graduation, when it says: "39,645 prescriptions for whiskey written by the physicians of Charlotte, N. C., last year, under other "dry" southern towns, where, even at a nominal figure, writing prescriptions could introduce a young physician to professional affluence.-Bridgeport Standard. These snap shots of De Sagen, who is here to sue for the hand of Mme Anna Gould, would make Jay Gould rise up in his coffin-if he could. If Jay Gould could see to what uses his family has come at last he might ask himself the question as to whether his old time robberies of the American people were really worth the while. However, Madame Anna is doing what she can for the house of Gould in the advertising line.-New Haven Palladium. Virginia democrats are endeavoring to secure an instructed Daniel delegation to the democratic convention. The anti-Bryan democrats have only to secure one vote more than a third of the Denver convention in order to prevent the nomination of the Nebraskan on the first ballot. In that event, the question would be whether or not the field could combine upon one candidate for the second ballot; If unable to do SO. a stampede to Bryan might naturally be expected.-Bridgeport Farmer.

11. April 17, 1908 The Evening Statesman Walla Walla, WA

Article from The Evening Statesman, April 17, 1908

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# The Beneficiaries. "I see that the receivers of the Knickerbocker bank are to get $75,000 each for six months' work." "Its an ill failure that blows nobody good."

12. October 22, 1908 The French Broad Hustler Hendersonville, NC

Article from The French Broad Hustler, October 22, 1908

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had, cared for the soldiers in the field and cared for their wives and children left at home. We presented him to the people of North Carolina and elected him by an overwhelming ajority. In 1880 we elected a Democratic Legislature and Governor, and under wise rule we have built this State into a great State among her sister States [applause], and we held it under Democratic rule until 1894. What happened to be then? Nothing at all, except that our own friends, the members of the Democratic Party, our own organization, because of a panic, for which the Democratic Party was in no way responsible, either joined the enemy or stayed away from the polls, and the consequence was that the combined forces of the other parties defeated us and we lost the Judges and the Legislature, and, in 1896, the Governor. But you all know how glad we were to return to our own in 1900. Most of you remember with what gladness those who had fallen out in 1894 returned to the ranks and helped to win a great victory in that memorable year. Now, let us not so far forget ourselves as to stay away from the polls in 1908, but let us organize and help to fight the enemy. They say now, We did do those things of which you charge us in Reconstruction days, but if you will let us back in power, we will be good.' They want us to forget the past, but we can only judge of the future by the past. When Moses was leading the Children of Israel for forty years in the wilderness he frequently found his people ready to forget their taskmasters in Egypt and the awful days of their bondage; but if you will go back to the history of this greatest of leaders you will see that when they so far forgot themselves and complained that he was leading them on to die, he told them to "Keep these things upon the frontlets of thine eyes and wear them upon the fingers of thy right hand." I want to say to you to do nothing dangerous. It is dangerous for a Democrat to scratch a ticket. I don't ever scratch them [applause], because when I scratch them I have left in my gun only half a load, and when I shoot I want a whole load, both of powder and lead. Now, neither you nor I nor any man in the United States engaged in a legitimate business wants to see the Republican Party re-elected. We are attacking them on all sides on the banking question, which was put into force shortly after the war, a system which was to allow men of great wealth to regulate prices on such things as you are compelled to buy, and these men now control the transportation of the country, thus controlling the prices of products generally. We have attacked them along this line until they are startled at the conditions which they have brought about and fostered all these years. A few men in New York make prices and amass great wealth, while the common people of that great city are fed at the soup-houses, as has been the condition for the past year of panic. Now, all this was caused by a run on the banks. Mr. Bryan offers to protect the people by a guaranty, and when this is brought into effect, there is no such thing as a run on a bank. Whenever you make it impossible to make a run on a bank, you make it impossible for these people to bring on a panic and destroy business. I was in New York last fall. There was no cloud over the financial sky when I left here. I was gone a week, While there a run was made on the Knickerbocker Bank, and men and women stood in line in the streets waiting for their turn to get their money-their little deposits-till they fell and fainted in the line. Suppose the deposits in this bank had been guaranteed. No such thing would have happened. Mr. Bryan says, "If you vote for me and put the Democratic Party in power I will stop this." Look back to last fall. The banks around here could' not furnish the money to carry on our commerce and manufacturing business; they had to pay off in "serip," while our own money was/locked up in the New York vaults. We have begged and pleaded with these plunderers for yeårs; we are willing for them to make money, but we don't want them to enjoy a high protective tariff to such an extent that their wealth and power will throttle this government. The Democratic Party has awakened at last from its dreams and we have raised such à howl 'round Mr. Taft that he says, "If you will elect me, I will call an extra session of Congress to revise this tariff." Mr. Bryan says, "For all these years you have oppressed these people, and now you only promise relief when you see they are threatening your power." And still they tell you that this is the year for you to stay away from the polls and not vote the Democratic ticket. Now, I have done the best that I could to-night-the best in my way. But later I hope to be able to make a more logical talk. I wish I were able to go from the East to the Tennessee line and tell this message to all the people. I have not long to live. I have children and grandchildren; but I say to you that no stroke of this right hand shall aid in putting the Republican Party over these children and grandchildren. [Applause.] I say it because I have tried it in the past and, having tried it in the past and having found nothing but ruin and disgrace, I cannot help but fight it now. I did not know whether I was going to get strong enough to fight in this campaign, but when the Republican Convention met and put on their ticket old Dr. Cy. Thompson for one of the best paying offices of the State, the "pizen" broke out all over me. He was once a Democrat, but he went over and fused with the Republican Party and helped to defeat us in 1894, and when they nominated him the "pizen" broke out just like measles. [Applause.] I couldn't put my finger on a place that wasn't "pizened." [Applause.] Now, you hear the ones who tried so hard to keep the nigger voting gohands with Democrats. "You are no gladder of it than I am." You know the reason they say that? They think for every nigger vote they lost they will gain a white vote. Well, I will stop now, but before the third day of November, when I get strong enough, I will talk to the club again, when my remarks will be more connected and logical. But I want to say to you to come out and get together and touch elbows, so that you will know how to stand together and fight on November 3d for the protection of yourselves, your wives and children. [Applause.]

13. September 11, 1918 Harrisburg Telegraph Harrisburg, PA

Article from Harrisburg Telegraph, September 11, 1918

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(Continued.) "Poor Miss Farrar, your opera singer, has been telling me she lost every penny she had in your Knickerbocker Bank failure. The men who caused that panic would go to prison mighty quick if we had them in Germany, I can tell you. I have read that eleven of your bank presidents committed suicide. Just think of it! Eleven bank presidents! These things should not be, Davis, but you will continue to have these panics from time to time until you adopt a banking system with a central bank, such as we have." The establishment of the Federal Reserve Bank system in this country, one of the most important measures adopted under President Wilson, carried us successfully through the financial stress and strain of the world war, and shows how thoroughly the Kaiser understood the workings of our national banking arrangements. Many of the ideas he formed regarding our institutions, however, were not so sound, although they were based on intimate knowledge and constant investigation. He never overlooked an opportunity to learn all he could about the United States. The Kaiser was a harsh critic of our election system. The idea of a four-year term for the President was naturally repugnant to one who held such exalted notions as to the rights of rulers. It would be too much to expect the Hohenzollern mind to approve of a constitution which provided for the ruler's return to private life after a period of four years at the head of the government. He declared that with a constant change of administration it was quite out of the question for this country to follow any definite policy. It was bad enough even so far as internal affairs were concerned, he said, but such a system made it impossible, he thought, for America ever to take a prominent part in international politics. "You can't expect the nations of