The watchman and southron. [volume] (Sumter, S.C.) 1881-1930, 1902-10-08
WHY MORGAN HATES ROOSEVELT.
President Flouted iim--WouId Give
no Heed to His Protest Against
Suit in Northern Securities
Case and Financier Has Had
It in for Him Since.

Washington. OcJ. Z.-lne SeCEeG VI
j. Pierpont Morgan's pronounced per
sonal determination to use the i'm
mense influences at his command to
defeat President Roosevelt for the Re-
publican nomination in 1904, or, fail
Ing in that, to support Democratic
candidate for the Presidency, has been
made plain. There is in it, Of course,
selfish interest, due to the Presidents
hostile attitude against the trusts, many
of which are creatures of Mr.. Nor
gan's financial genius. There, is also
an element of personal resentment,
and the reasons for this have just
come to light. It dates back several
months, to a few days after the At.
torney General, under the direction of
President Roosevelt, commenced legal
proceedings against the Northern
Securities Company. Mr.. Morgan
paid personal visit to President
Roosevelt and protested against the
action of. the Attorney General. Here
is what the President said TO him:
s.I am neither bull or a bear on
Morgan stocks. I am President os the
United States and sworn to execute The
law. I will proceed against you or any-
of your combinations as quickly as '
would against a striker; not because
L, am opposed to either capital or
labor, except as either Of them is
iyiolator of. the laws Of the country. -
/ That is the exact language of the
President. It was uttered directly to
Mr.. Morgan, who had protested
against the action OF. Attorney General
Knox in bringing suit against the
Northern Securities Company. The
occasion is well remembered. MIR.
Morgan and number Of leading I'm
anciers came to " Washington and stop
ped at the Arlington for day and a
night. They were in conference with.
a 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 mis-
take and that the administration was
being used to bear stocks. President
Roosevelt answered him in the exact
language quoted, at the same time as
suming full responsibility for the
action which had Just been taken by
the Attorney General.
. The. head of the great syndicates
made no answer at the time that IN
4dicated his resentment. Since then,
however, he has been dined by emper-
ors and received with honor, almost with
fawning, by European rulers, and has
returned filed with bitterness against
the President who has dared to oppose
him by enforcing the law. He has
openly declared his intention Of, oppos-
ing the Presidents nomination and OF
supporting some Democrat ike
Cleveland in case Mr. Roosevelt is
the Republican standard-bearef In 1904.
The impression is gaining support in
Washington's official circles that the
Morgan opposition to the President is
extending to the coal strike. 1t is
known that before Mr.. Morgan went
to Europe last summer he had con-
ference with Senator Hanna and left
him with the strong impression that
he would use his influence in bringing
about settlement of the strike. On
the strength of this assurance, Senator
Hanna all but promised that the coal
roads, through the influence OF Morgan,
would accept the good Offices OF the
civic federation to settle the strike by
arbitration. It was known that Nor
gan could dictate to the operators and
It was believed that he would do so.
When Morgan returned from Europe,
Senator Hanna went to see him again.
Morgan simply refused to discuss. the
strike situation or to use any OF his
almost unlimited influence TO settle it.
Other prominent men sought Morgan's
influence in the strike settlement,
without results. Finally leading Re
publicans were advised to keep away
from Morgan. He was SO incensed at
the President that his associates in
business did not dare mention Mr..
Roosevelt's name in his presence.
These men are convinced:that Morgan,
who has power to settle the strike, pre-
fers to have It prolonged to tbe point
Of riots and bIoodshed, with the hope
that the Republican party will suffer,
as the party in power always suffers
from such distur rbances.