Middlebury register. (Middlebury, Vt.) 1886-1937, 1902-10-24
HOSTILITY TO ROOSEVELT
The Reason why Morgan Wants to De
feat the President.

The secret of j. Pierpont Morgan's
pronounced personal determination to
use the immense influences at his COM
mand to defeat President Roosevelt for
the Republican nomination in 1904, or,
failing in that, to support Democratic
candidate for the presidency, has been
made plain, says the Washington cores
is in it, of course, a selfish interest, due
to the presidents hostile attitude against
the trusts, many of which are creatures
of Mr.. Morgan's financial genius. There
is also an element of personal resent
ment, and the reasons for this have Just
come to light. 1t dates back several
months, to a few days after the attorney
general, under the direction of President
Roosevelt, commenced legal proceedings
against the Northern Securities company.
Mr.. Morgan paid personal visit to Pres
ident Roosevelt and protested against
the action of the attorney general. Here
is what the president said to him:
81 am neither a bull nor bear on
Morgan stocks. | am President of the
United States and sworn to execute the
law. | will proceed against you, or any
of your combinations, as quickly as
would against striker; not because
am opposed 70 either capital or labor
except as either of them is violator of
the laws of the country"
That is the exact language of the
president. 1t was uttered directly to
MIR. Morgan, who had protested against
the action of Attorney General Knox in
bringing suit against the Northern Sc
curities company. The occasion is well
remembered. Mr.. Morgan and a number
of leading financiers came to Washing
ton and stopped at the Arlington for a
day and night. They were in confer
ence with number of prominent officials
and called upon the president. 1t was
during that call that the conversation
took place. Mr.. Morgan insisted that
the attorney general had made mistake
and that the administration was being
used to bear stocks. President Roose-
welt answered him in the exact language
already quoted, at the same time assum-
! ing full responsibility for the action
which had Just been taken by the attor-
ney general.
The head of the great syndicates made
no answer at the time that indicated
his resentment. Since then, however,
he has been dined by emperors, and
received with honor, almost with fawn-
ing, by European rulers, and has re-
turned, filled with bitterness against the
president VINO has dared to oppose him
by enforcing the law. He has openly
declared his intention of opposing the
presidents nomination, and of support
ing some democrat like Cleveland" in
case Mr.. Roosevelt is the Republican
standard-bearer in 1904.
The impression is gaining support II
Washington's official circles that the
Morgan opposition to the president i;
extending to the coal strike. 1t is known
that before Mr.. Morgan went to Europe
last summer he had conference will
Senator Hanna, and left him with the
strong impression that he would use hi:
Influence in bringing about a settlement
of the strike. On the strength of thi
assurance Senator Hanna all but prom
ised that the coal roads, through tn,
influence of Morgan, would accept tn,
good offices of the Civic Federation Il
settle the strike by arbitration. 1t wa
known that Morgan could dictate TO tn
operators, and it was believed that h
would do so. When Morgan returned
from Europe Senator Hanna went to SCI
him again. Morgan simply refused t,
discuss the strike situation, or to us
, any of his almost unlimited influence t,
settle it. Other prominent men sough
: Morgan's influence in the strike settle
ment, without results. Finally, leadin;
Republicans were advised to keep ava,
from Morgan. He was so incensed a
the president that his associates in bust
ness did not dare mention Mr.. Roose
velt's name in his presence. These me-
are convinced that Morgan, who ha
power TO settle the strike. prefers to hav
r it prolonged 10 the point of riots ant
blOodshed, with the hope that the Re
: publican party will suffer, as the part
= in power always suffers from such dis
{ turbances.
o Ran1.4