The Salt Lake herald. [volume] (Salt Lake City [Utah]) 1870-1909, 1906-03-04
The METALS.
JOHN r.. WALsH's EXAMPLE.

= Goaded by public criticism into &C
ton, the federal authorities have finally
- arrested John r. Walsh, former presi-
dent of the defunct Chicago National
bank. on a charge of making false
statements Of the condition of the
hank.
e Mr.. Walsh's method was simplicity
itself. He used the money of deposit
tors TO further the railroad, coal and
other enterprises in which he was the
controlling spirit. Some $4,000, 900 was
thus loaned to corporations in his con-
troi, but he swore to statement which
declared the amount loaned to bank
officials was within the small limit set
by the national banking law Tech
nically, his statement may have been
legally correct; in actual fact, and in
the spirit OF the law, he committed
perjury and made a false statement of
the banks condition, since the money
loaned TO his corporations was used by
him personally for his own benefit.
Mr.. Walsh's history and personality
have made him a national character.
He began life as a newsboy, advanced
TO the ownership of a great news COM
pany. founded or helped found the Chi
cago Herald and the Chicago Chron-
icle, Democratic papers; was at one
time the controlling spirit OF the Inter
Ocean, a Republican organ, and was
the most powerful Individual in Chica-
go politics, although he never sought
Office for himself
Politics with him was a game for the
advancement Of his personal fortunes:
his bank was a center of intrigue, from
which appointments and offices were
dictated TO whatever party happened
to be in power. Nominally Democrat
he was always ready to sacrifice his
party for personal advantage His
particular line of activity was in the
graft" Of public privileges, though he
never took part himself in the opera
tons peculiar to the corruption of city
councils and the purchase of public
officials which contributed to his
wealth. Indeed, no man in Chicago
was more outspoken in the denuncia-
ton Of crooked politics than was he,
and no newspapers were so bitter in
their attacks on corrupt officials as his
when he failed to profit by the thing
attacked.
In his private life, Mr.. Walsh has
been a model citizen He has lived
simply, almost austerely; his home life
is an example of the domestic virtues,
and ehas probably come nearer liv-
ing the simple life" than one man in
any hundred thousand of the cfty's
great population, rich or poor.
Yet, TO those who have been familiar
with his activity and the influences he
set in motion, WaIsh's life has been
about as miserable a failure as the
mind of man could devise. He has ben
Gifted by corruption; used his great
power to debauch public opinion; has
punished his enemies and rewarded his
friends-not for the public good, but to
accomplish his own enriching.
With his great ability and energy, he
could have accomplished more than
most men of his day. have achieved
wealth honorabIy and left name to
be cherished as a benefactor Of his
generation. Instead, he is facing
criminal charge, sees his fortune dis
sipated, and finds himself at the mercy
OF some of the men to whom he has
been an implacable enemy.
Surely, the honorable life is the
profitable life, whether ii bring riches
or poverty; and no money, no position
the sacrifice of the moral law.