That was it—a crusade. Movements and reforms were all very well. But they were slow work. In order to advance one had to attach oneself to tidal waves. Doris was right about frightening them.
Within a week he had launched his attack. He had developed a technique in his public utterances which was becoming more and more unconscious and so more and more convincing. Once determined that a crusade against private banks would be a step in his upward climb, his cynicism in the matter vanished. He investigated the subject thoroughly, filling his mind with statistics. Events played into his hands. A second private bank collapsed at the end of the week and Basine knew that the ground was ready for his crusade.
He began not with an attack against the institution of private banks, but shelving the statistics he had carefully mastered, he concentrated upon creating a sense of terror in the public mind. In statements given out to the press and in speeches before business men's associations which were also reported in the newspapers, he pounded on the note of menace. They were a menace. They were something to be afraid of. They jeopardized stability. They were wildcat institutions.
It was his first crusade and he waited nervously for the response. The response came after a pause of a week like an answering shout. Down with private banks! A conflagration of headlines flared up. The people were against private banks. Editorials heralded the fact. The newspapers were against private banks. A week ago private banks had been the furthest topic from the public conversation. Now it became a matter of violent discussion. Citizens committees were being formed for the purpose of fighting private banks.
Feeling began to run high. Very high. A neighborhood Polish financier who for years had conducted a small banking institution was mobbed on his way to work and rescued from the violence of the crowd, which threatened his life by the arrival of police. This incident was reported by the newspapers as revealing the determination of the men seeking to wipe out the menace of the private bank and also as revealing the unscrupulous power of the men engaged in the private banking business.
The growing clamor against the institution resulted naturally in the collapse of two more small banks whose depositors, terrified by reports they themselves were circulating, rushed to withdraw their savings.
Basine contemplating the extent of the public indignation felt a pride and a misgiving. He glowed with the thought that he, Basine, had started the thing. His name had from the beginning figured prominently in connection with the growing crusade.... "Basine Denounces Private Banks...." had started it. And then a flood of headlines, "Banking Sharks Prey on poor, says Basine."... And then "Basine Flays Private Bankers at Mass Meeting...." "Private Bank Menace Growing...."
He had kept his head during the publicity and, unaccountably, his thought had turned to his sister as the crusade gathered momentum, as the "menace grew." Although alive with a powerful indignation against the enemy, Basine remained mentally aloof in contemplating the situation. His aloofness was not a cynicism but a guide.
He studied the fact that the clamor was in the main artificial. The menace of the private bank was a thing that touched less than one per-cent of the population. There were no more than thirty such minor institutions in the city and more than two-thirds of these were as sound as the banks under government supervision. His statistics had revealed this.
Nevertheless in some mysterious way the phrase "private bank" had become synonymous with ogre, villainy, menace, calamity. His original denunciations published rather casually by the press had been a species of newspaper feelers. The public had responded. Realizing then that the subject was a live one, the papers had cut loose. The idea of a trusted public institution being a danger and a menace to the community was quick in awaking a sense of alarm. A sense of fear inspired by no facts but by the reiterative rhetoric of the press swept the city.