te
the stocks of great public corporations for its own profit, forming them
into trusts with capitals far beyond their values, represented by new
stocks and bonds, which it sold to the public at prices aggregating a
hundred to five hundred per cent. over the old capitalization. It then
engaged in a wonderfully clever campaign to work off on the
people--directly, the very rich people, but indirectly, the people as a
whole--through institutions which exist because of the people's
savings--the $600,000,000 to $800,000,000 of Standard Oil stock which
had at this stage served the principal use for which it had been
created. It must be borne in mind that while "Standard Oil" is grinding
out "made dollars," its owners never for an instant lose sight of that
dim, distant day of reckoning when the people will awaken to their
losses. The "Rogerses" and the "Rockefellers" know well that the public
cannot always be kept in ignorance of the methods of the "System" by
which it has been plundered, and that once it is in possession of the
secret of how the savings of the many have become the property of the
few, there may be reprisals of such a nature as will compel the "System"
to yield up its gains. They know that when that day comes it will not be
best for them to have their enormous fortunes in such get-at-able
property as real estate, in which so many of the legitimately acquired
American fortunes are invested. In a quiet way, therefore, they have put
the bulk of their "made dollars" into unrecorded forms, such as
Government bonds; bonds and preferred stocks of what they consider
non-duplicatable franchise corporations such as railroads, which require
rights of way; into municipal public service enterprises, such as gas
companies, the existence of which depends upon rights of way for pipes;
and into the stocks of banks and trust and insurance companies, which
they believe the people will never dare attack because their savings are
largely deposited in them.

I would not have my readers think that the principal motive actuating
"Standard Oil" in parting with its Standard Oil stock is doubt of its
present intrinsic worth, for such is not the case. The masters of
"Standard Oil" are very able, far-seeing men, and they know that so
thoroughly have the American people been educated to the crimes which
created Standard Oil, the crimes by which it has existed and does exist,
that no passage of time or "pious-ing" of latter-day methods, wi