Fergus County argus. [volume] (Lewistown, Mont.) 1886-1946, 1903-05-06

President Roosevelt, in all of his
messages as well as public addresses,
has carefully avoided placing himself
in a position ~antagonistic to legiti-
mate enterprises, recognizing the le-
gal and moral rights of corporations
in carrying on The great industries of
the country. He has, however, call
ed attention to the danger of the
great trusts and combines which have
been organized for the purpose OF
destroying competition and limiting
production. He has recommended
legislation for their control and re-
straint and for this offense he has
gained the enmity of the New York
Sun, which Is the mouthpiece of j.
Pierpont Morgan. Walter Wellman,
writing for the Chicago Record-Her-
aid, says these attacks are inspired,
If not dictated, by the great financier,
who is supposed to own, or at least
control, the Sum-" He relates a story
which is current in Washington and
of general interest. The story as re-
lated by another is as follows:
1t appears that when the merger
case was first instituted by the fed
eral government. Mr., Morgan, so the
story goes, was somewhere in the
south. When he read in the news
papers that the federal government
would proceed against the Northern
Securities company under the Sher-
man law. he FASTENED to Washington
in his private car, drove to the white
house and invaded the executive pres
ence. He was in a state of consider
able excitement and began to express
his disapproval Of the action of the
government vigorously. He said it
was an outrage for the government
to take such a step; that it had no
business to interfere with plans Of
that character, and certainly, IL the
government felt II necessary to begin
such proceedings in the courts, it
ought at least to have allowed those
most interested to know of it in ad.
vance and give them a chance to
stand from UNDER" that 1t was not
right to attack great interests of that
kind without warning, when it would
have been very easy to have allowed
those interested to know about 1t in
advance.
At this point Mr.. Morgan was very
promptly interrupted by the presi.
dent, who turned upon the excited
financier and said to him: "Mr. Nor
gan, you are the last mar who should
be told about a matter of this kind.
| want II distinctly understood that
during this administration it shall
not be said that there is a ticker in
the white house recording instruc.
tons from Wall street"
Whether the story is true or not
Mr.. Morgan has learned ere this that
in President Roosevelt he has found
a man who has the courage OF his
convictions and one who owes his
allegiance TO the people of the United
States instead of the trust magnatee
The impression that the business
men of New York universally hate
the president and are ready to joir
a movement for his defeat in CONVEX
ton or at the polls is not believed
A western senator who recently spent
a week in New York. speaking of this
matter, said:
president Roosevelt has more
friends than enemies among the biz
people of New York. There is {
common impression that everyone il
New York is feeling ugly toward Mr.
Roosevelt on account of his trus,
prosecutions. But I did not find it so
A few men do feel ugly, but the ma
jority are fairly well satisfied. Al
TO the Northern Securities case, thu
most of the men with whom | talke,
, in Wall street circles feel that 1t is
good thing. Their attitude is tina
the mania for combinations and mer
gers has been carried to a ~dangerou'
extreme, and that the check has com,
! at an opportune time. All the big mel
I will obey the law. They will no
form any more combinations, and sucl
existing combinations as are in prob
! able violation of the law will be re
2 organized on lawful lines as soon a
possible. These men told me 1t woul'
not be necessary for the government
: 20 bring any further suits. They sal,
also that the decision would be a goo
thing for the country and even TO
2 wall street and the interests whicI
r center about IT,"
Whether this is the true sentiment 4
I New York or not, there can be n
mistake about the sentiment of tn
people as a whole, and the attack
OF the Sun will only tend to bring I
the support of the president thos
whom he could not have hoped to gar
had this shining light" OF the mas
mates remained silent.