The Dawson news. (Dawson, Ga.) 1889-current, 1904-01-27
GREAT TRAGEDY OF 1908 %ossn T""sa

No event of the year equals in genu-
inc Importance the downfall of John
PierpOnt Morgan from the most power
full position ever attained by a private
citizen Of the United States or any
other countTy-a position he occupied
a year ago, when he was at the zenith
of his career as a builder of trusts
world wide in their operation, says the
New York World. The downfall Of
Charles NJ. Schwab, of much lesser i'm
port, is still so great that in itself it
marks an epoch in the history of Amer
lean industrialism.
And the part which John D. Rookie
Teller has played in the tragedy Of
Morgan and Schwab, when all of its
details become fully known, promises
to mark the browning achievement of
a career that has never been blocked in
any of its wide reaching ramiications
by the genius or power of any man or
set of men.
Enough is known of what Mr.. Rookie
Teller his done to make it plain that
the collapse of Mr.. Morgan's colossal
power and prestige was necessary to a
realization of Mr.. Rockefellers ambi-
ton. Whether the downfall of Mr..
Morgan was planned and brought
about by careful manipulations, such
as Mr.. Rockefeller employed thirty
years ago to destroy rival oil rehners
in Cleveland, or whether train of cir
lumstances, unfortunate to Mr.. Morgan,
but inevitable under the laws Of
finance, after all, were simply seized
upon as means to gain an important
end is not quite clear yet.
A year ago Mr.. Morgan was regarded
not only in the United States. but in
Great Britain, France, Germany, Aus
fr1a, Russia and in every corner of the
world where men of commerce gath
cred, as the real fount of business wis
dom. He was genius the like Of
which the world had never before pro-
duced or seen. He had the magic fac
ulty of extracting millions in profits
from things that had escaped the at
tention of the wise tinanciers of all the
previous generations and centuries. Ali
that he had to say to the great capital
lists and investors of the world was:
This thing is good. You can come
into it," and without question or in
yestigatiOn, so complete was their re-
1iance upon the wisdom of the Ameri-
can king of finance, they outbid one
another for chance to pour their mil
lions into the enterprise
a year ago the newspapers of the
United States and Europe referred to
Mr.. Morgan in this wise
He is a greater power in Europe than
many of its kings.
He has completely eclipsed the Roths-
childs.
His name is a talisman with which to
conjure not millions, but billions.
He Yields more power over more people
than the czar of Russia.
He is sought by emperors and kings.
The greatest financier in all history.
He has more influence than the presi-
dent of the United States.
The most important one man in the
world today.
He controls more capital than any other
man in the universe.
In a single business day he could fill
subscription for $500 900. 900 for any enter
prise he would indorse and would not be
asked even to explain II.
Contrast these opinions of a year ago
of Mr.. Morgan with those expressed to-
day, and some comprehension Of his
mighty fall from an unheard of finan-
cial eminence can be had. Not long ago
a cablegram from London stated that
Morgan's name was anathema among
the English fnanciers and investors
who twelve months ago had regarded
him as the greatest genius of the age.
A man of high standing in Wall street
when asked as to Mr. Morgan's present
status downtown said:
AHa couIdnst sell fva dollar GOLD