The labor world. [volume] (Duluth, Minn.) 1896-current, 1902-10-25
THERE IS ONLY
ONE MORGAN
THE WHOLE WORLD LOOKS TO HH1
UNPRETENTIOUs OFFICE.
There Are Twelve Partners In HE
Spirit-HistOFy Knows OF No In.
divldual Who Controlled the
Hundredth Part OF the Capital
With the Grasp Of Morgan.

The whole world looks to an unpre-
tentious office at No. % Wall street
which bears the sign u. P. Morgan &
Co.." for its cue whenever any trans
action involving millions-whether it be
war on a coal strike, an amalgamation
of steamship and railroad lines, or the
financing of bankrupt kingdom-is up
for discussion.
There are twelve partners in the firm,
and eleven of them look after details Of
the various great schemes which have
given to the language new word,
"Morganizing.". There is only one Nor
gan on whose life English investors and
SPECTATORS take out insurance policies
paying nine per cent premium.
The amount of capital under control
from the office at Broad and Wall street
is perhaps greater than the total amount
of gold coin in the world. 1t represents
such wealth and power as never before
was centralized in the hands of one
man.
The members Of J. p Morgan Co.
are his son, J. p. Morgan, Jr., George
G. Thomas, Edward F. Whitney. James
W. Paul, Jr., Edward H. Robinson, Ed
ward T. Stotesbury, Robert Bacon,
Temple Bowdoin, William Pierson Ham,
ilton, Charles Steele, George w. Perkins
and J. Pierpont Morgan.
Seven of the twelve partners in the
firm are members of the board of di-
rectors Of one or more of the great cor
porations of trusts which mark this
era of centralized capital. The mere list
or these companies in whose affairs no
move can be made without consultation
at No. % Wall street inspires the defer
ence due from dollar to million dol
lars.
But there are vast combinations of
capital, unions of powerful corporations
whose affairs are being handled by J.
P. Morgan & Co.. in whose directorate
no member of the firm ever sits, and
yet they are known as Morgan COMP
anies.
The total capital which J. p. Morgan
& Co. controls and guards figures up
NEARLY SIX BILLIONS AND A
HAL FOF DOLLARS, or, to be abso-
lutely accurate, $6,44S,50O 1000. Besides
this vast sum other great Accommodations
look small. The gold coin and gold GER
tificates in the United States Treasury
only amount to about $3.50, 900, 900, and
yet this is unprecedented.
- All the gold coined and the .uncoined5 !
in the whole world is estimated at 81,
beings in the world is estimated at
100000, 900. The public debt Of the
United States on June 30, 1900, was ST.
1O7, I'll ,257. The entire revenue of the
forty-three principal nations of the
world for the year 1900 was 1881, &c.,
563.
The properties in which ]. p. Morgan
eco. are interested, either through
control, through membership on their
boards, through financing them, or by
reason of acting as their fiscal agents,
are, with their capitalizating, as follows,
according to lists furnished by the fin
ancial agencies: Ships, Atlantic Steam
ship Company, Sic, 100000; railroads Of
all kinds, seventeen, $S,0Ss, 500, 900; in
dustrials, thirteen. $2,022, 250.0o0: banks
and trust companies, seven, $751;, 0OO, 900;
miscellaneous, sixty-seven 1890, 75O, 900.
When Greece went down 2 per cent Of
the population controlled it's wealth;
"hen Egypt Tell liz per cent possessed
her land and tolls Of production; when
Rome disappeared 800 men owned the
nation and her resources.
Yet all history does not reveal a sin
gle individual who controlled the hum
dreth part of the capital within the
grasp Of Morgan. AS a matter Of fact,
today all. the nation is dependent on
Morgan, directly or indirectly
And with a group Of capitalists be-
hind him numbering perhaps less than
two hundred, such as Rockefeller, the
Hill Hartman, Carnegie,
the Armours, cwifts, etc., he holds the
destiny Of the western world within the
hollow of his hand.
What has become Of our boosted free
dom and independence? Where is the
equality of MANI