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    "label": "Draft Press Release of Speech",
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    "id": "210023504",
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    "contentType": "document",
    "title": "Draft Press Release of Speech",
    "citationUrl": "https://catalog.archives.gov/id/210023504",
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        "President's Secretary's Files (Truman Administration)",
        "Historical Files"
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            "logicalDate": "1934-09-01",
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    "seq": 5,
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    "ocrText": "(5)\nbolster up his decaying bank, the Central Republic Bank and Trust\nCompany.\n\"\nAfterwards, Dawes left that bank to care for itself and started\nanother financial institution. According to a statement given out\nthe other day by the Reconstruction Finance Corporation,only 15\nfive\nper cent of the loan has been returned in the years since it was\nmade. There is no expectation that the bulk of the loan will be\nmore,\npaid for at least five years if ever.\nIt\nAnother of Patterson's rugged individualists is Charles E. Mit-\nchell, the New York banker. Mr. Micthell was tried for selling his\nown bank stock to himself through deals with his wife to avoid pay-\ning income taxes. He and other officers of the bank paid handsome\nbonuses to themselves from profits obtained in floating doubtful\nsecurities to American investors. Other of the Patterson rugged in-\ndividualists are J. Pierpont Morgan and his twenty partners in the\nimposing international bank they man,all of whom escaped paying in-\ncome taxes.\n\"\nThe list of rugged individualists,many of whom looted the gen-\neral public and each other after they had finished looting America's\nnatural resources, might be prolonged indefitely. Looking back at some\nof it,it seems piteous that these rugged individualists were absolute-\nand ntual pircy\nly dependent on bold theft, immunity from prosecution, governmental\npower or other force aside from their abilities to become rugged in-\ndividualists,\n\" We have other rugged individualists now getting up on the ram-\nparts of the American Liberty League, seeking through its pretences\nto keep alive the fight against social justice to which the Ameri-\nare\ncan people is just becoming aroused.\n\" Some of them are the rugged individualists who sold\nand semi-worthless European, South American and United States secur-\nA\nities to less rugged persons by the billions of dollars, impoverish-\ning a large number of thrigty citizens of life savings. They thimble-\nrigged Wall Street specuaations;asked that American blood be spill-\ned in interventions when their gambling in small foreign countries\nbecame unprofitable and were a public menace in many ways.\n\" We also have other rugged individualists, the members of the Econ-"
}