The watchman and southron. [volume] (Sumter, S.C.) 1881-1930, 1904-10-19
Cortelyou's Hold Up Shocks Wall
Street.

New York, Oct. 12.-That Wall
street, while passively acqu1eselng N
and submitting to the demnds OF the
Republican managers as represented
by 4 George B. Cortelyou, is far from
being pleased with the methods re-
sorted to in the interests OF the Roose-
velt campaign fund, becomes more
and more manifest as the campaign
evidence of this is given in a
.double-leaded editorial which ap-
reared In The Wall Street Summary, "
an independent and nom partisan paper,
one of the leanding daily publications
of the street. This paper, In its issue
of September % last, after devoeng
considerable space to an analysis OF
the cost of Presidential campaigns,
and the reasons therefor, discussed
the two most recent campaigns. and
showed that the last McKinley-Bryan
campaign cost the pubplicans about
Sc, 600, 600. Continuing, The Sum-
mary says:
sss1 fter the battle was won the lead
ers of that party and those who con-
tributed financially most largely to les
success questioned among themselves
whether it would ever be necessary
for them to engage in campaign OF
similar monetary magnitude. Having
gone down deep in their pockets and
into their bank accounts in two sue
scessiye campaigns they naturally
questioned whether their own buiness-
.es ais we'll as the entire Industrial In
terests Of the country could stand
another such voluntary yet Imperative
assessment. They are now all thank
ing Heaven that today they are not
facing the terrible emergency that
they did four years and eight years
ago. At the same time campaign
funds are necessary and strenuous
efforts are being made to raise them.
We say Strenuous, advlsediy, Pc
cause it has come to cur knowledge
that some of the methods employed to
secure the contributions are not IN Keep
lac with the professions OF purity.
honor and high -mindedness contained
in she platform adopted at Chicago
and in the speeches and letters OF ac-
.ceptance of the Republican candi-
dates. - Already a number of the larg-
est corporations in the country, popu-
Iafly, pet In many cases, misleading
", spoken Of as trusts, and hence
likely to lie under the ban OF the
Serman antitrust law, as interpreted
BY the Supreme Court o: the United
States ia the Northern Securities
case, have been approached. yes, ac-
tually importuned, by the managers
of the Republican campaign or their
authorized emissaries to contribute to
the treasury of the national committee
In some cases assurances have been
given in the White House that now
that the issue raised by the govern
4msnt in the Northern Securities case
has been sustained by the Supreme
Court, ceratin aggregations OF indus.
trial enterprises weuld not be held as
coming within the purview Of the de-
cision mentioned.
.sWe can state further that the exc
cutiyes of some Of the corporatios that
have been approached, as described
above, are not members OF the po1iti-
cal party in behalf of which the ap-
peals have been made, yet they have
deemed it good business judgement to
give the matter their favorable con-
sideration. -.
tsThe most fragrant case OF this char
actar that has come to our knowledge
is that Of the executive of one OF our
larger railroad systems who has vir-
tually decided that it is for the best
interests of his corporation that IN
some way a substantial contribution
should be made to the cause represen-
ted by Chairman Cortelyou, because
the chairman is slated for the position
of Postmaster General after March 4,
should his efforts to retain his party
in power be successful. This corpo-
ration, in common with all other
Transportation companies, has constant
and sometimes conflicting relations
with the Postofice Department., a
fact that carries great weight with
the execu tive referred to, as it doubt
less will with others similarly situated
when they are appealed to for cam
paign contributions.
"This paper ia not a political organ
| in any sense of the word, but, as its
| readers know, stands for what is hon.
ess and upright in the management of
onr government affairs as we'll as IN
| the conduct of commercial and hnan-
cial transactions. It seems proper,
therefore, and entirely within the
province of an independent, non-parti
san newspaper to refer to such facts
as may come to- its knowledge from
time to time as have been recited
above, leaving those who read them
to draw their own conclusions.