And presently the Senator sat down in Delmonico's to see the young and old bucks eat and drink the wealth created by the toilers. Whereat he returned to his hotel and wrote what he had to say.

These are the views which Tillman holds. They have made him governor of South Carolina and United States Senator-the idol of the Carolina farmers. The World has obtained and now publishes his opinions, but does not indorse them.

SENATOR TILLMAN'S VIEWS-HIS VISIT TO WALL STREET AND HIS OPINION OF ITS POWER IN THE WHOLE COUNTRY.

Wall Street is a term in very common use, and most people have an essentially clear idea as to its meaning. As understood by the masses, it stands for what has come to be known as the money power, the force exerted by aggregated capital.

There is at this time a double interest attaching to the term "Wall Street" by reason of the fact that everything of a political nature indicates that the struggle for the mastery of this country-whether the people shall govern it or whether money shall govern it-is approaching a climax.

The financial question and its settlement is now the uppermost one in the minds of men. Interested persons may attempt to push it aside and belittle it and to substitute other issues for it, but in the coming presidential election it must be the issue.

Feeling thus, and having had cause recently to give expression to my ideas and opinions in the Senate in no uncertain terms and no uncertain manner, I have thought it well to ask the use of the columns. of America's greatest newspaper with a view to presenting phases of the question with more clearness than was possible on that occasion.

With that purpose in mind I have devoted during the past week a couple of days to the gathering of some facts by a personal visit to New York and to Wall Street. It so happened that during my term as governor of South Carolina I had the opportunity while negotiating for refunding our State debt to study the methods employed by those who manipulate and control the complex machinery by means of which a few men, not exceeding 500, have laid the industries, the politics, and, in fact, the Government of this country under tribute and are gathering for themselves wealth beyond computation in a period of time so short as to stagger belief.

For the reader unfamiliar with New York City, it is well to give a brief description as to what Wall Street, taken as a district of New York City, really is to the eye. When Manhattan Island, on which New York stands, was first settled by the Dutch, they chose to locate on its extreme southern point, where meet the East and the Hudson Rivers. A town grew up, composed of a network of irregular, crooked streets, without seeming order, and all very narrow.

A few hundred yards up Broadway from Battery Park, where the historic Castle Garden, now transformed into a public aquarium, still stands, is Trinity Church. In the small graveyard surrounding it repose the bones of Alexander Hamilton, Capt. Lawrence, of "Don't give up the ship!" memory, and other great historic char

When a note is struck on Trinity's chimes it is carried into every office and institution in the Wall Street district, for that district is so small that from Trinity's spire it appears to lie directly beneath. The office of Russell Sage looks right out over the old burying ground, and a dingy office it is, in a dingy building, where this, one of the great money kings of America, sits and cuts his coupons and calls his high-rate loans. Casting their shadows on Trinity when the morning sun rises in the east stand the great office buildings, running over 20 stories in height in some cases, in which some of the great trust companies and banks have invested portions of their enormous surplus and in which they have their homes.

Directly in front of Trinity's bronze portals-the gift of an Astor opens Wall Street proper, a narrow, asphalted thoroughfare, less than one-third of a mile long and banked on either side with massive stone structures, some of great height. One of these is the Stock Exchange, which also has entrances on Broad Street and New Street, a block or two of which streets may be included in the Wall Street district, as can a block or two of Nassau Street, where a large number of the richest banks and trust companies in the land have their headquarters.

Just across the New Street entrance to the stock exchange stands the Consolidated Exchange, where a stock-gambling game of the same character is carried on, but on a rather smaller scale. Within easy gunshot of both, were it not for the obstruction that the buildings offer, are the Produce Exchange and the Cotton Exchange, where the products of the country, representing the toil of millions of farmers and other workers, are tossed up or down in prices according to the whims or interests of the greedy gamblers.

Strange to say, the most insignificant of all the structures on Wall Street proper-or, at least, the lowest and one which would be the most insignificant were it not for its massiveness-is the subtreasury of the United States, at Wall and Broad Streets. In front of it stands the bronze figure of Washington, on the very spot where he took the oath of office when sworn in as the first President of the United States.

Just across the way is the office of Morgan & Co. The office of the Sugar Trust is down the street a few hundred feet. just beyond the customhouse. In the immediate vicinity of the subtreasury are to be found the offices of the largest private banking houses of this country, the representatives of the foreign houses, and the headquarters of the bullion dealers.

So much by way of explanation as to localities. I propose now briefly to outline the methods by which the millions of honest toilers throughout this country are laid under tribute and their earnings absorbed by this devilfish generally known as Wall Street.

It has been said that if anything is more timid than $1.000.000 it is $2.000.000, and experience has shown that if there is anything more greedy and tyrannical, more insatiate and remorseless than $50.000.000 it is $100.000.000. Enough is an unknown word in the vocabulary of those who own this much capital. Their cry is " More! Ever more!"

The great power and influence of Wall Street, which has doubled and quadrupled and become more and more appalling, was laid

and the control of legislation in their interest. together with the speculations in gold and national securities, a few hundred men, utterly lacking in patriotism and without any regard for the public welfare, seized the Government by the throat and threatened it with bankruptcy and paralysis if their demands were not granted.

Enormous fortunes multiplied. The owner of a million soon found himself possessed of many millions. Money bred money by reason of the violent fluctuations in the national credit as the fortunes of war changed on the battle fields of the South.

The greenbacks, which were the salvation of the Union, were speculated in daily. The National Treasury, under stress of war, was forced to exchange bonds for them, and as soon as the war terminated the schemers set about securing legislation, under the pretense of strengthening the public credit, looking to the payment of the bonds

in coin.

This did not satisfy them, however. In a brief time the demonetization of silver followed, and ever since the fell purpose of those who have conspired together has been to force payment in gold.

The national banks have received interest from the Government on the bonds. They have received interest from the people on the notes based on those bonds. Thus the industries of the country have been laid under double tribute for the benefit of these pets. No wonder they have grown rich enough to buy steel yachts while the poor are sweating for a bare living.

The banking business of New York is concentrated in the New York Clearing House, which is simply a trades-union of all the Founder, and has palatial quarters within a stone's throw of Wall Etreet, These 66 banks (63 banks and trust companies in 1912) have aggregate capital of about $61,000,000 ($179,619,000 in 1912), and in addition they have a surplus and accumulated profit of $73,000,000 6:300,115,700 m 1919). They hold on deposit from customers about $100,000,000 ($1,788,619,000 in 1912). They have loaned out at internet about $160,000,000 ($1,946,186,000 in 1913). Their cash on hand consists of about $61,000,000 ($336,335,000 in 1912) in gold and $17,000,000 $78,011,000 in 1912) in paper money. Their holdings of silver are quite me unificant; for it is an understood practice among them never to offer silver money or silver certificates one to another in payment of balances, The New York Subtreasury is a member of The New York Clearing House, and is equally careful in boycotting silver and never offers it in daily settlements with banks. This notwith tanding the fact that all our Government obligations are payable in com, mlver as well as gold,

The aggregate bank clearings in exchanges of checks for 1895 was #10 000 000 000 ($100,, 13,967,000 in 1912) in New York City alone. In all the other clearing houses in the country the aggregate for the com Time wa #1,00,000,000 ($74,170,264,000 in 1912). New York do more money exchanging than all the rest of the country, and The man who handle money takes care that plenty of it sticks to his Bogor and the New York bankers are no exception. The Chemical Band for bu year paid too per cent annually on its capital, and For fourch ho paid 100 per cent, and the average of all is a very To for the Fw York Stock Exchange, which is an unchartered lub in fact and entirely independent of the obliga