The Barre daily times. (Barre, Vt.) 1897-1959, 1910-09-02
THE Boss or ALL rHE BossEs.
Lincoln Steffens Finds Morgan Practi-
cally Recognized as an American
Sovereign In Wall
Ctranf


Sovereign In Wall
Street
Il Is said in Wall street that one
man Is supreme down there now. If
That, Is SO. it Is time TO talk business.
We have been neglecting business we
have been paying too much attention 70
politics. all Of Us hayel the American
people. And the cost Of living Is but q
part Of the price We shall have to pay
for our absorption in our public affairs.
Il Is true we have something to show
for I'll there's a balance to our credit;
We are beginning to understand politics.
Even our politicians arc beginning to
understand politics little. Aud their
lessons should not be interrupted. But
our public business isn't our only bust
ness. We all have our private business
also TO attend 10, and i one man domi.
mates chat, It means that the boss has
developed in business as wen as in poll.
ties, And il that Il so, It is high time
to understand business; II Is time even
for business men to understand busi-
ness.
For If Mr.. J. p Morgan is the boss Of
Wall street, it means that those forces
which are suppressing competition and
centralizing financial power in this coun-
try have come 10 head. Not 20 their
end. Competition isn't all over yeti not
BY a long way. There are some indie
pendents left, even IN OIL But II the
leaders Of the great financial groups that
have formed the fighting oligarehy Of
national business have seen the com.
munity Of their interests and are sub
hitting to the leadership Of one Of them,
then the centripetal forces Of American
industry have come to a focusl to a
head, to head that wears face and
has a soul End, Il that is 50, the Unit.
ed States has, at last, a personal soy
ereign.
II Mr.. Morgan mergcs in his person
the mergers Of mergers, he personifes
the national organization Of American
business: Business, to which there is
reason to believe a business people pay
more loyal allegiance than they do to
their political establishment. And, II
that Is true, if this man represents the
financial power which controls the rail-
roads and other public service corpora
tions; the trusts, banks, insurance com
panies, trust companies, and other spe-
eial interests, he represents those pow
ers which even before they were united
supported, defended and controlled po-
litieal parties and bosses, and, therefore,
riyaled the power Of mayors and coun-
ellis. governors and legislatures, the
president and the Congress Of the Unit
ed States. In other words, il this Wall
street rumor is true; if Mr.. Morgan
IS supreme there II he is the boss Of
the bosses in Wall street who boss the
business bosses back 81 the political
bosses an over the United States. then
j Pierpont Morgan is the boss Of the
United States.
And It is true. Not only the news
papers and the comic weelSlies. not only
the umor-mongers uptown and the
curb.gossips downtown big men say
20; lighting fnaneiers and conservative
bankers, captains Of industry, specula.
tive operators. and corporation sttor-
neys; men who know; men who helped
To make it SO; men who would like to
help make il not So Everybody I
talked with confirmed the rumor. Some
approved others deplored, few re-
sented; they all minimized and, never
theless, many were genuinely alarmed
at the helittled fact But nobody de-
MED it. Not man in Wall street con-
tradieted the report that Mr.. Morgan
was st down there now" = Lincoln
steiIens III the September Eyerybody's