"
"Things will get worse before they get any better, I believe," said
Curtiss, after a pause.
"Something has got to be done," replied the General. "The banking
situation in this country at the present moment is simply
unendurable; the legitimate banker is practically driven from the
field by the speculator. A man finds himself in the position where
he has either to submit to the dictation of such men, or else permit
himself to be supplanted. It is a new element that has forced itself
in. Apparently all a man needs in order to start a bank is credit
enough to put up a building with marble columns and bronze gates. I
could name you a man who at this moment owns eight banks, and when
he started in, three years ago, I don't believe he owned a million
dollars."
"But how in the world could he manage it?" gasped Montague.
"Just as I stated," said the General. "You buy a piece of land, with
as big a mortgage as you can get, and you put up a million-dollar
building and mortgage that. You start a trust company, and you get
out imposing advertisements, and promise high rates of interest, and
the public comes in.
Pages:
70
71
72
73
74
75
76
77
78
79
80
81
82
83
84
85
86
87
88
89
90
91
92
93
94