Daily press. [volume] (Newport News, Va.) 1896-current, 1908-11-01
Editorial from the New York Word)

, the Canal Commission.
As MIR. Roosevelt's personal repre-
Mckinley died. President Roosevelt
Hay had committed themselves to the
! sided with Mr.. Cromwell. The Presl'
! dent used his influence for the Pana'
ma route and the Nicaragua plan was
| defeated
! Since the Panama Canal concession
by its terms lapsed to Colombia I'M
less the canal was completed Withih
a specific time. the United states, py
dealing directly with Colombia, couid
have acquired the canal concession
without paying the old French com
| pany or the new French company or
! the American canal company any
thing at all This would have wiped
out the speculative investment OF the
, $4,000, 900 syndicate.
! Nothing ever CAME Of the nesotia-
lions with Colombia, which were pro
longed for some time. The Colombian
| Congress objected to paying the canal
| company anything and desired to get
the whole purchase-price for Colon
| bia.
| Mr.. Cromwell had already opened
! negotiations with President Roosevelt
| for the sale CT the canal conpary's
| property. In the early discussion the
! figures of s25, 900 900 were mentioned.
| Later the price was fixed at S4o.oo",-
~, coo. and an option was given at tha'
figure.
! Mr.. cromweil's Revolution:
| Then MIR. Cromwell brought about
| his master-stroke. He created
, Panama revolut on and had Panama
declare itself independent from Co
lombia. How he did 1t was told at
q, that time in the language OF Senior j.
Gabriel Duoue:
| "Mr. Cromwell made the revolution.
He offered to make me President OF
the new republic and see me through
| if I would raise a small force OF men
and declare a secession from Colom-
! bia. He made promises that we
! should have the help of his Govern
ment: that the President had force
ready to 20 to Panama at once, and
! il Colombia attempted to send sold
iers there the United States Govern
ment would keep them out
81 was the head of the Fire Depart
ment and had my men ready. Then
l rang the fire-alarm bell in Pana-
ma, which was a signal for the re-
volution. It was accompanied by a
liberal use of money. We bought this
general and that one. pay
ing $4,000 to $4,000 per general. The
Colombian officers were all paid on
and the Colombian general who was
sent to stop the revolution was also
bought off,
! The Panama Republic promptly
elected Mr.. Cromwell its general coun-
sci and appointed him and J. Pierpont
Morgan "a fiscal commission AS
/ counsel to the Panama Republic MI.
; Cromwell then negotiated a treat!
with President Roosevelt by which
, SO, 100000 was to be paid 10 Panama
instead of to Colombia. AS counsel
: to the new Panama canal Company
Mr.. Cromwell laso negotiated Win
| President Roosevelt by which 10000
600 was to be paid to the new Pana-
ma Canal Company through J. r.
Morgan & Company Co.
, Both payments were made, }. r.
Morgan & Co receiving in all $50.ooo'-
900 from the United States.
! The syndicate agreement called for
the raising of only $5,0OO,O00. From
$4,000 900 to $4.OOO,O00 would have
j been sufficient to buy the stock cen
troll of the bankrupt old Panama
, Canal Company. 1t is to be assumed
that the syndicate bought as cheap
ly as it could To whom ]. J. Nor
: gan & Co. paid the s40,0OO.OO0 appears
; in no public record. When the Senate
committee directed Mr.. Cromwell TO
tell he refused. becoming con-
, tumacious witness.
Recently there have been reports
, that Douglas Robinson, the Pres'-
dents brother-in-law. and a brother OF
Secretary Taft were members Of that
syndicate. This has been denied
Certain people claim to have inior-
nation on the subject, hut no EVIL
dence has been produced one way or
the other. Only few weeks ago MT.
w. J. Curtis. Of Mr. Cromwells firm,
/ went to District Attorney Jerome ana
! made a complaint that certain parties
, were attempting to blackmaii MI
Cromwell. claiming that they had IN
formation as to this syndicate ana
its profits which would be IN
furious to Mr.. Cromwell and to Mr..
Tatt's campaign.
The Paris corporation records snow
that the Panama Canal Company was
incorporated and dissolved. The
syndicate records are secret. }. }.
Morgan & Co.'S books were not pro-
duced before the Senate committee.
How the $40,OOO.oOO was divided no
one knows.
Whist WaA the profitf
As to the profits >which Mr.. Crom-
well may have personally made, his
testimony before the Senate commit