The Birmingham age-herald., 1908-02-09
GREAT CONFLICT
 IN LABOR WORLD
J. P. Morgan Declares That
 Issue Is Now At Hand
A REMARKABLE INTERVIEW
Editor From Paris Talks With the Financier and Gets a Most Un- usual View of the Present
 Industrial Crisis.

New York, February 9-(Special.)--The World this morning prints ringing in- terview with J. P. Morgan, which was given yesterday (Saturday) by the banker to Alexander Ular, editor of the Petit Journal of Paris.
 Morgan lays down the proposition that the time has come when the great battle between capital and labor must be fought out. He tells the French newspaper man that the workingman has got to learn that he cannot control industry but must ac- cept wages that will make honest and profitable business possible. He adds that as thousands of men are now out of work it is better to keep them in that con- dition until they realize that they are powerless to prevent wage reduction. He is of the opinion that the present depres- sion is extremely useful and as a capital ist he does not care to see 1t relieved at present.
 After paying tribute to MT. Morgan s personality. Mr. Ular says:
 When we talked together about the immediate causes of the recent panic l had the strong impression that he thought the main cause was that somebody want ed little lesson.
 The immediate cause he said, was that besides certain economic condition there were certain attempts at legislation
 Blame Is Fixed.
 But, of course, it would have been ridiculous to ask MT Morgan if he made the panic himself He spitefully chewed the word Washington. closing hls mouth with vigor.
 'He is almost as angry against the French government as against Washing ton. He does not understand, or he does not want to understand, why, during the panic, the Bank of France refused to lend him some gold in order to mend the stringency of payment here.
 They did what they refused to me a week later for the Bank of England ne said.
 MT. Morgan would like to take ven geance on France as he did on the Eng fish bankers. I explained to him that in my opinion. there had been some uneasi- ness in France as to the American rela- tions in Japan, that France had refused a loan to Japan and obliged, therefore, in ,order to remain impartial, to refuse money to the Uuited States.
 '''This is ridiculous Mir Morgan ex- claimed. We did not want money. We 1uSI wanted I1etdly Solu. VC WOtiu Ao v shipped 1t back very soon. We do not want any loan. Our situation is sound Business Is sound. All is sound. We have plenty of all we need
 But in your opinion, does not the rather peculiar business methods of cer- tain big bankers contribute to certain extent to the outbreak of the panic?'
 Cleanins-Out Process.
 "Oh, mo- The panic proved only an opportunity for cleaning out the banking business Those people, I just dropped them down. I do not want such peo- ple and such kind of business in bank ing. I want banking to be put on a solid basis
 MT. Morgan seemed to me as claim ing to be the sword-shaking arch-angel at the door of the Wall street paradise
 But MT. Morgan is not only the king of finance. think he claims be- sides. to be the defender of modern so- ciety against its adversares. And this is certainly the most interesting feature in his activity. He plainly agreed with me when I remarked that the most im- portant side of the crisis Is the social one.
 Yes, It Is all a social question, just as in Europe. The time has come when the question has to be settled. I want to settle it. he said.
 After having talked about the indus-