The Lafayette gazette. [volume] (Lafayette, La.) 1893-1921, 1901-02-09

power of Mr.. ]. Pierpont Morgan.
the great banker, money king and
community of interest" promotes
of Wall street, and expressed the
fear that this one man might soon
become the controlling force in the
money, industrial and transporta-
ton life of the Nation. some
thoughtless contemporaries were
disposed to laugh at the idea.
The Chattanooga Times, for
example, remarked that the indus-
trial, banking and transportation
capital of the country amounts to
about $87, 900, 900, 900 and that
Mr.. Morgan would shave to be
worth more than half that sum" to
become the industrial and financial
car of America. The Times be-
trays its ignorance of the manner
in which great consultations are
this country, when it imagnes that
a man must himself own over half
the stock of corporations to practi-
cally control them. AS the adviser
and trusted agent of others a man
may now control, and many in such
way do control, millions of dollars
worth of property without owning
more than few thousands in the
stock. The control Of one proper
ty, too, may place a dozen other
pieces under virtual tribute. To-
lay Mr.. Morgan is the most active
and the most influential man IN
Wall street, with a powerful word IN
more powerful concerns than any
'ther man in the street. And Wall
treet virtually controls the Nation.
By the control Of one Of the
Dads in the anthracite region Mr..
Morgan controls the coal fields.
BY combination with ]. J. Hill
nd ]. D. Rockefeller, Mr.. Morgan
ecently obtained control of the
he Atlantic seabord, and now the
syndicate, In which ]. p.
Morgan & Co., are among the most
ctive and powerful members, is
aid to have obtained the control of
he great Southern Pacific system.
One man in this way may be
'orth 500, 900, 900 in his own right
nd practically stand at the head of
combination controlling half of
be railroad capital of the country
nd having the other half at its
mercy. This is the consummatioI
0 which these railroad consolida-
ions are now tending. The pur-
ose is to reduce the railway sys-
ems to only three or four great
and then in time to
ombine these.
The accomplishment may be
ooner than we anticipate. The
outhern roads, are being absorbed
y the Southern Railway company.
he systems west of the Mississippi
re falling under the control of one
reat syndicate: which also controls
he larger par of the territory be-
ween the Mississippi and the At
antic and the Ohio and the lakes.
1t is a grand conception, the plan
f campaign Of Napoleon of
nance and organization and the
ase and promptness with which
he vast Southern Pacific system has
cen ''gobbled up'' only serves to
gain demonstrate how fessible is
he scheme after all.
Economy and Capitalization of
Management, in the absence of
will undoubtedly make
he properties more valuable, hut
THAT of the interests of the public
'hen we remember how dependent
he industrial and commercial life
# the Nation is upon the transport
alton lines? Will the public be
BILE to control this railway giant
nd compel it to do justice to all
he people? This question is loom
ng up on the political horizon as
'minously as Imperialism or any
'ther living issue.
Mamma Knew Best Neighbor (to