The news & observer. [volume] (Raleigh, N.C.) 1894-current, 1902-10-17
WHY DID J. PIERPONT MORGAN
WAIT so LONG.

w All 81 LUNd,
Everybody in America recognizes that
]. Pierpont Morgan is the coal trust.
He dominates the railroads that own,
mine and transport all the coal.
Everybody in America recognizes that
the coal operators refused to make any
Root to see Mr. Morgan and beg the
magnate to do something to end the
strike. In response to the Presidents
opportunities, Mr.. Morgan travelled to
Washington. He saw the President. He
listened to his earnest appeal. He agreed
to end the strike by making concessions.
He then ordered the operators to pro-
pose a method which granted important
concessions, leaving the whole matter to
be adjusted by commission, wholly out
side of the law, to be named by the Pres
ident.
Why did j. Pierpont Morgan wait so
long a time to take this action? He could
have ended the strike four months ago
by a simple word. Instead he went to
Europe and bought few million dollars
worth of pictures Upon his return the
press and the pulpit and many individ-
uaIs besought him to take such action
as would end the strike. He said he had
nothing to do with it and would have
nothing to do with it one way or the
other. And so the strike went on, carry
ing hunger and suffering to the miners
and loss and cold to the general pub
lie.
Why did Mr. Morgan wait? Did he wish
to postpone action until the whole world
was at his feet and when his action
should show him to be mighty colossus
bestriding the earth? Did he want to
drink in the sensation of seeing himself
the uncrowned monarch of America? Did
he refuse to act in order to have the
President of this great republic get on
his knees and pray, - great and mighty,
Mr.. Morgan, come to our rescue. Save
us. The government is a baby. You are
a giant. Save us or we perish
Why did Mr.. Morgan wait? Did he wish
10 sit idly by until all the coal on hand
should be sold to consumers at fancy
prices, thus putting millions Of dollars
into the cash box of the coal trust?
Why did Mr. Morgan wait? Did he de-
liberately sit still, shutting his ears to
the cries of the suffering and the starv-
ing, in order to demonstrate that he is
not only the arbiter of the fate of finan-
cial institutions, but as well the arbiter
of political parties and of national adj
ministrations?
Why did Mr.. Morgan wait? Did he wish
to bring all the leaders of the Repub-
lican party from President Roosevelt
Senator Platt, Senator Quay, Governor
Odell and the rest to his feet, begging
him to save the party. from overwhelming
defeat?
Why did he wait so long? There will
be different answers, but here is the true
one: He waited until every Republican
leader in the Middle States, felt sure that
the marty was doomed to overwhelming
defeat without his aid, and then he said
in substance or in action Il see that
defeat stares the Republican party in
the face l know that l am the only
man who can end the strike and save
the party l will save it but you must
give me a mortgage on the party to be
foreclosed if the legislation l desire is
not forthcoming" Not in words did Mr..
Morgan make this demand. Not i'll words
did the Republicans agree to them. But
in their extremity they appealed to him.
They were at his mercy. He came to
them and lifted them out of the pit They
understand each other. Mr.. Morgan to-
day has as firm a mortgage on the Re-
publican party as if it were signed, sealed
and delivered and put in his big safe
along with his other mortgages.
And that is why Mr.. ]. Pierpont Nor
gan waited so long to make concessions
looking to ending the strike.
Who said There's nothing in a name p