The Saint Paul globe. (St. Paul, Minn.) 1896-1905, 1901-05-16
THE MORGAN DEAL. IN ENGLAND.

1t is always interesting and often in
structive TO get a look at ourselves from
our neighbours viewpoint. These views
are apt to be in large measure correct,
not having been touched up by the pencil
Of personal vanity
The act OF Mr.. ]. Piorpont Morgan in
buying the Leyland steamship line, had
made that gentleman and his financial
and commercial schemes the one inter-
esting topic beside the Boer war, in
British newspaperdom. The London Elk
press OF May contains a cartoon OF
the American Trust Ogre walking off
with child in each hand. one labeled
railroads and The other steamships, while
John Bun looks on in dismay. In ex,
PLANTATION of the cartoon is the following
rhyme:
John Bull looks on and watches in dis
NAV
His children by the Ogre dragged away.
First he picked up the boy and then the
girl
One by the breeks. the other by the curl
In the news description Of the purchase
of the Leyland steamship line we find
these observations: 'Tne Express is au-
thoritatively informed that Mr. Morgan's
first object in buying vessels is to secure
fleet for steel carrying. He has failed
to harmonic with German manufacture
ers as he hoped to do and in addition to
their competition has to face the new
Russian Steel trust. He has determined,
therefore, to make a sharp aggressive
campaign for the steel markets of the
world. Prices are to be cut abroad under
cover of heavy profits In America and
every device and trick is to be used to
make the United States Steel corporation
the master in all open markets.
This is cutting pretty close to the truth.
But Mr. Morgan may not be able to profit
long by the American tariff. Neverthe-
less, as the situation now stands, the
fears of the Express are likely to be
realized. The United States is entering
upon the same policy which has char
acterized England for many years.
Editorially, on the same subject, the
Express scolds the Leyland manage
ment roundly for selling to an American
magnate thusly: '0What touches the pub
lie is the national bearing of the transac-
ton. And all that is urged in defense in
this respect is that, while Mr. Ellerman
himself is fettered, there is nothing to
prevent other shareholders from estab-
fishing a new line to compete with Mr.
Morgan on the Atlantic, and that Mr..
EIlerman himself viii use the proceeds
to establish British ships on other seas
This is thin comfort, truly" Again. the
nettled editor remarks: Americans walk
off with carrying trade which has been
built up and consolidated by gradual
British effort, and all the consolation
for the British nation is that British
effort can begin again. if it likes, in the
same field or elsewhere. From the other
side comes the frank boasts that Mr..
Morgan and his associates intend to
make American lakes Of the Atlantic
and Pacific This is undoubtedly the
tendency of such deal"
There is no Disgusting the fact that
Britain was never so hard pressed as
at the present time. Her own markets
are being invaded by the insidious ad-
vance of America and Germany: her
taxes arc accommodating, while her re-
sources are diminishing, and to cap all
comes an American trust with billions
at its back and begins to grab the car
rying trade
Johns contempt for Sam is rapidly
changing to respect mingled with an adj
miring fear