Frenzied Finance Part 52

INVESTORS AND SPECULATORS--WARNING!

For six months through my story, "Frenzied Finance," in _Everybody's Magazine_, I have been educating the people to the terrible condition existing to-day in America--the people are plundered of their savings by a few men through the working of the "System."

After a close study for six months I concluded that the people were awakening to the truth.

I decided to make a test.

I advertised certain truths. That was all.

For three days Wall Street and the "System" were panic-stricken--paper values melted to the extent of hundreds of millions.

The laws of the land are strict about panic-breeding by public statements.

If any of the terrible statements I have made had been false, I should to-day be in prison or my body suspended from a lamp-post. I could not possibly have escaped.

What I have stated is truth. No one dares gainsay it.

Wall Street and the "System" for the first time were compelled to come to the rescue and put in jeopardy their own money by buying stocks from the people at inflated prices.

For the first time a break came while the manufacturers of stock still held them.

The people sold them.

To-day every scheme known to frenzied financiering is being worked to make the world believe last week's panic was the result of stock speculators, bears, "Standard Oil," and the "System."

Throughout this country and Europe is being spread the story that I was in league with "Standard Oil" and the "System,"

that they had sold out their stocks and got me to raid the market to shake out the public.

That another great rise is coming.

This is clever, smart, the only thing possible under the circ.u.mstances.

But it is a lie.

I ask the people to watch the desperate efforts that are being made to get this lie to pa.s.s for a truth.

The "System" must unload on the public, but above all else the "System" must convince the people that the awful destruction of last week could not have been brought about merely by the people's own doings.

If the people are not so convinced they will know their power, and that they have in their own hands, to use at any time, a weapon which can stand the "System" on its head.

There is no reason why the people cannot reverse the old process and always sell at the top to the frenzied financiers and buy from them at the bottom.

This is my warning:

I ask the people and Wall Street and the "System" to give it weight or their loss will be on their own heads.

I am going to strike again, suddenly, sharply, sensationally, and in a way that will produce effects upon prices and upon markets, so much more destructive, that the effects and the destruction of last week will appear by comparison as milk to vitriol.

Every owner of an active stock in which the "System" has any interest owes it to himself to weigh my warning.

The result must be terrible for Wall Street and the "System," and nothing can avert it.

It matters not how much preparation is made, as it will come in a way not possible to guard against.

I want all to know now, so they will not blame me when the slaughter is on.

My first and only warning will come in the form of a public notice that certain named stocks should be sold the day my advertis.e.m.e.nt appears.

Three days afterward I will publish why, but with the why it will be too late for holders of stock to save themselves.

I now say to all, if you decide after reading this that I am only talking, well and good, but when it is too late, remember what I did say.

While waiting for me to speak, again think it over.

When "Frenzied Finance" first appeared, only six months ago, the wise heads of the "System" said:

"The public will tire of it in sixty days."

At the end of six months the people, the press, and the pulpit are las.h.i.+ng themselves into a fury over its revelations, and it is impossible to print magazines enough to meet the demand.

When I first touched on the life-insurance companies they laughed.

To-day policy-holders are panic-stricken, and the big companies are falling behind millions a week.

When I said my story would affect Wall Street, Wall Street laughed; last week it yelled, cursed, and begged.

And I am only in the mild, preliminary stages yet.

While waiting for the next move, make no mistake.

When real work begins Wall Street and the "System" will look like a last year's straw hat in the swirls of Niagara.

AMALGAMATED

Last Tuesday morning I publicly said:

"The men who control Amalgamated told me it is not worth half the price it was floated at. If they told the truth it will go back to 33. If they have lied they will smash it back to 33 as they did before. Sell it."

All that day (Tuesday) holders could have sold at an average of 79.

Holders of over 200,000 shares did.