Albuquerque morning journal. [volume] (Albuquerque, N.M.) 1903-1926, 1911-11-29
Wharton Barker Retired PhiIa-
deIphia Banker Makes This
Sensational Assertion Before
Senate Committee,
TERMS ALDRICH PLAN
GIANT MONEY TRUST
Witness Declares Those Behind
Proposed Monetary Reform
Pledge Million Dollars TO See
Il Through.

leuSe WllllOn U0llafS 10 see
It Through,
(By Morning Journal Special Leased wlre1
Washington. Nov. 2S.-Wharton
Barker retired banker OF phlla-
delphm, sprung a sensation on the
senate committee on interstate CONF
lneree today when he testified that
New York ilnancier told him in 1904
that the financial Interests would sup
port Theodore Roosevelt for presl.
dent because the latter had made n
bargain with them ION the railroad
question
Mr.. Rarker's statement came In the
midst OF a vigorous attack on the
money trust In which he alleged
also that President Roosevelt had
been given the details of the impend-
ing panic OF le01 several months be-
fore II happened but took no action
TO prevent IT, He declared the Aid
rich currency plan was the handlwork
of not former Senator Aldrich, hut
of Mr. Warhurton OF the banking firm
of Kuhn, Loeb and company, of New
York, and that a fund OF 1000, 900
had been started TO insure its adop-
tion,
Three or four weeks before the
election of 1906" Mr. Barker said, ~
was walking down BroaGway when |
met one of the most distinguished
money kings In New York, a man now
dead. He said to me: We are going
To elect Roosevelt I expressed sur
prise and asked if he had given up
the election of Parker. He said yes.
but that they had frightened Roose-
Welt 80 that he had made bargain
with them"
Members OF the committee looked
somewhat lneredulous and Mr.. Barker
added:
u wish MIR. Roosevelt were here.r
II wish he were.'' Senator Town
send said II would be interesting"
MIR. Barker said the financial giant
whom he declined 60 name, told him
that Roosevelt had made bargain
on the railroad question" Mr.. Bark
er continues
He was 10 holler all he wants to,
lie told me. hut bye and bye a rail-
road bill win be brought In hy recon-
mendation OF the president cutting off
rebates and free pasaes--which suits
us who own the railroads, permitting
the railroads TO make pooling
arrangements and providing for max
imum rates.
The railroad man added. Mr.. Bark
er said, that under the latter authority
Ii would be possible to add from
$500 600, 000 TO S400, 100000 to the
total freight charges paid by the
American public.
II told him did not believe Roose-
Welt had made any such arrangement"
Mr. Barker said. but when the an
nual message Of 1906 went to con-
gress he recommended most of those
things. | wrote to President Roosevelt
and told him what | had heard and
that | had thought the man lied, but
that now ! must believe that he had
not II was the only letter OF mine
Mr.. Roosevelt ever failed to answer"
Members of the committee asked
MIR Barker tu give the name Of the
financial man who told him that
Mr Roosevelt was TO be elected.
II cannot do II" Mr. Barker said,
"but subsequently somebody was
found 10 have stolen some correspond
enee between Mr. Hartman and the
president. telling of Ss5O, 0G0 put up
for election expenses in the city or
New York
Referring to the panic OF 1907. Mr..
Barker said a man who was present
al conference at ]. L. Morgan's
house in May. came 10 him in Phila
dophia and wanted him to use his
influence with President Roosevelt to
stop q plan that had been mapped out,
De- alleged hy the financial leaders.
The man was captain In the Rough
Riders he said and had used his own
Influence with the president but with
ont avail,
The plan.' Mr.. Barker said, con-
icmpiated the curtailment OF loans.
the withdrawal of credits The put-
ting away OF money by those interest
ga where they could get Il when they
needed II TO stop the panic and the
Of the various state laws
regarding the holding 81 cash reserves
by the banks ana trust companies.
Mr. Barker said that IN october
hen the financial upheaVal reached
lbs crisis. he urged President Roose-
ecit to distribute the st4a, o00 o0N OF
cash on hand n the treasury among
the banks of Chicaep. Philadelphia,
Boston and other barge cities.
eHe wanted ta do H. 'he said, ''but
he called IN Nh Knox and Mr. Cortel-
YOU anr M Root ana instead OF de-
posting in the outside cities, he
plunged the Whbfr WNlUNHt tWtn Wth
street. II broke thc country but II
saved the gamblers.
THE Philadelphia man, whose
hankne house IA one tlne was finan-
rial agent or NE Russian government
declared that those who hacked the
Alarich monetary plan had begun a
ia which q was propos-
ad tn spend s 00o 600 to secure the
of Che proposed currency
legislation.
"Y osterday banker Ia philadeis
nhin started to collect that city's share
lf the money, 100000" he said
he declared that the "great money
oligarchy, Ia New York controlled nlI
Iines of finance. industry and trans
and nothing deNi@{IG %
break up the trusts would E0 at
Iho root of The trnuhI1
Few people appre1 VI bx i
control of tho naon@ 6oglI i. sz
pn1,icH HaNiu&A h4u| H. n 4I olf4 4