User:Trident13/Bancroft
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The Bancroft family
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It started in Boston
The Wall Street Journal represents a merger of Boston and New York interests. Boston's ``State Street financial center is run by the treasonous families that made their money in the British-run China opium trade: the Cabots, Perkins, Coolidges, Russells, Cushings, Lowells, et al. Wall Street was created and is run by the Tory faction, which followed the policy of Bank of Manhattan founders, and American traitors, Aaron Burr and John Jacob Astor. At the heart of the Journal is the aristocratic Bancroft family of Boston. In 1882, in New York City, financial reporters Charles Henry Dow and Edward Jones, both Rhode Islanders, set up Dow Jones and Company, which printed a financial bulletin. In 1885, Charles H. Dow became a member of the New York Stock Exchange, formulating what he called the Dow theory of stock market movements, and picking up trading gossip to put in the Dow Jones bulletin. In 1889, Dow formed the Wall Street Journal, which was made a subsidiary of Dow Jones & Co.
In 1902, Clarence Barron, representing Boston's powerful State Street, purchased Dow Jones & Company for $130,000. At the time of the purchase, Barron was publishing business bulletins in Boston and Philadelphia, which were merged into Dow Jones & Co. Barron also founded Barron's National Financial Weekly. In 1923, Barron had the Journal publish his credo, which made clear his paper's slavish adherence to the Wall Street financiers: ``The Wall Street Journal must stand for what is best in Wall Street....
The higher level of the Boston Brahmins joined the Journal when, in 1907, the step-daughter of Clarence Barron, Jane Barron, married Hugh Bancroft. The Bancroft represented the high Boston Tory faction; they were among the first settler families that, in 1632, founded Lynn, Massachusetts. During the next 50 years, the family was the sole exporter for the Massachusetts Bay Colony, of sugar and tobacco, a trade that made it immensely wealthy.
By the first decade of the twentieth century, Hugh Bancroft's father, John, was chairman of the Brahmin-owned Boston Elevated Railway, and was a member of the board of overseers of Harvard University. Hugh Bancroft attended Harvard, where he was admitted to the elite Hasty Pudding Club. In 1912, Bancroft was made treasurer of Dow Jones, the holding company of the Journal. He became president in 1928, upon Clarence Barron's death. By that time, Bancroft and his family controlled the majority of Dow Jones & Company's shares.
The Bancroft family continues to be the most significant shareholder of Dow Jones and the Wall Street Journal today, through Hugh Bancroft's descendants, including Jane Bancroft Cook, a Journal board member; the Cox family (Christopher Cox sits on the Journal's board); and socialite Elizabeth Goth.
It is during the first decades of the twentieth century, that the Journal's hatred of the American System of Economics became manifest.[1]
