The Houston daily post. [volume] (Houston, Tex.) 1886-1903, 1902-06-06
J. pleRpoNr MORGAN AND JOHN LAW.

The greatest financial genius of the Eighteenth
century although he ended in financial failure was
John Law. The greatest financial genius Of time,
who may continue to be financial to the close
of his life, is ]. pierpont Morgan.
On account Of John Laws association with the Mis-
sissipp bubble which has recently been made the sub
ject of novel under that title, he is not highly
teemed at the present day. He ended in failure and
poverty. II such should be the end Of J. Plerpont
Morgan, although there is basis for such Cassan
dralike prophecy, in generation or two his memory
would bo on a level with John Laws.
John Law the friend of the duke of Orleans,
who was the regent of France. Through this friend.
ship he able to get for himself the control of the
finances of the kingdom. He started a bank, then
royal bank with the king security. He formed the
Company Of the West Indies with capital of 100000.
600 liyres monopoly Of trade with Canada and
ereign rights over Louisiana. Then he enlarged this
company into the Company of the Indies, with a mo-
nopoly Of East Indian and African trade He under
took to pay the National debt and to lend the king
500000oO0 liyres at per cent, He was made the
controller general of the finances The king issued
edicts at his request to bolster up his credit His
shares rose to forty times their par value In four
years 1t all to end. There was a great crash
and Law forced to leave the country in poverty.
Now, while ]. Plerpont Morgan may be able to
keep on adding millions to his millions, is there not
an element of the spectacular about his financial oper
the government out by buying great amount of gov
ernment bonds He forms steel trust with fabu
lously large capital, and in six months he has made
fabulously large profits He transfers his shares into
bonds at profit for himself, just as John Law used
to juggc with the shares of his companies Law was
constantly consolidating his companies. Morgan has
acquired fame by making many mergers" II Law
aimed at controlling the foreign trade of France Nor
is no less audaoious in his purchase of sew
O bc tfr etC
There is no basis for predicting failure for Mr.
Morgan. He may succeed whore John Law failed
Nevertheless the parallel is interesting and the
rosembances between the two men and their methods
Is very striking.
King Edward we're however congratulate the president
time the in the Philippines declared over he
would Use mp his income in telegraph tolls
cnloAeo Is still tcemine with striking tcansters,
lr administration conceal the identity Of the
perpetrators of Philippine atrocities will perhaps punish
them III the people really desire learn who they are Gull
berson can HELP Little bit
1uF rivers and harbors bill up to the president
Now peace has been declared between Great Brit
ain and the ransvaa be hoped that some sort Of
protocol be patched between Governor jeff Davis and
Massachusetts.
Wur1F feel perfectly friendly toward the kaiser. we
arc glad to get rid OF Potts.
lIoUsoN win be permitted 60 away back and draw
$4,000 year for the balance OF his life May live long
He has been bayey foolish but he has also been foosh
brave,
NRs, Snow thawed out and sold her interest in Spindle
! Top Tor $4,000 cash, not kerosene,
Uxtrss the bu1zads are keeping up with the trend Of
public opinion they liable be unexpectedly knocked of
their perch
n is strange how the papers continue to refer 70 Mol an