Arizona republican. [volume] (Phoenix, Ariz.) 1890-1930, 1911-11-29
That is What Wharton Bar
ker, one of the Best
Known Business Men Of
Philadelphia Says of For
mer President.
WITNESS TELLS
A CURIOUS TALE
He Refers to a Mysterious
Money King" Who, He
Says, Gave Him Some Ex-
tremely Interesting News
Matter.

WASHINGTON, Nov. 2S-Wharton
Barker. retired banker of Philadelphia.
sprang sensation on the senate COM
mittee on interstate commerce today
when he alleged a New York finan-
cier told him in 1905 that the financial
interests would support Theodore
Roosevelt for president. because the
latter had made a bargain" with
them on the railroad question. Bar
ker'S statement came in the midst Of
vigorous attack on the money
trust" i'm which he alleged also that
Roosevelt had been given details OF
the impending panic of 1907 several
months before it happened. but took
no action To prevent it. He declared
the Aldrich currency plan is the handi-
work, not Of former Senator Aldrich.
but of Mr.. Warburg Of the banking
firm OF Kuhn. Loeb & Co. of New
York. and that fund Of a million
dollars has been started to insure its
adoption.
Three or four weeks before the
election Of 1904" Barker said. Il met
one of the most distinguished money
kings of New York, man now dead.
He said, We are going To elect Roose-
Welt | expressed surprise. and asked
if they had given up the support Of
Parker He said yes. that they had
frightened Roosevelt SO he had made
a bargain with them. The members
Of the committee looked incredulOus.
Barker added: Il wish Roosevelt were
here"
Il wish he were" Senator Townsend
said 1T would be interesting
Barker said the financial giant whom
he had declined to name told him
Roosevelt made "a bargain on the
railroad question. and. Barker con-
tinued: He is to holler all he wants
to. He told me a railroad bill Will be
brought in on recommendation of the
president, cutting off rebates and rail-
road passes, which suits US who own
the railroads. and permitting the rail-
roads To make pooling arrangements
providing for the maximum. the rail-
road man added" Barker said under
the latter authority il was possible
to add from three million to four
million dollars To the total freight
charges paid by the American pub
lie.
Il told him | did not believe Roose-
welt made any such agreement. Bar
ker said but when the message OF
1905 went to congress he recommended
most of those things. | wrote Roose-
Welt and told him what had heard
and that | thought the man had lied.
L.. I...I Of
was the only letter of mine which
Roosevelt ever failed to answer.
Members of the committee asked
Barker to give the name of the finan-
cial man who told him Roosevelt
would be elected. Il cannot do II,
Barker said. but subsequently some
body was alleged to have stolen some
correspondence between Hartman ana
the president. telling of s250.0OO put
mn for election expenses in the city
of New York
Referring to the panic Of 1907. Bar
ker said a man who was present AT
a conference in J. =. Morgans mouse
i'm Nav came to him in Philadelphia
and wanted him To- use his influence
with Roosevelt to stop the plan map
ped ont. he alleged, by the financldi
leaders The man was captain Oh
the Rough Riders. and said he hao
used his own influence with Roose-
Welt without avail. The plan. Bar
ker said. contemplated the curtaii-
ment of loans. the withdrawal OF cred
its and putting away the money oil
those interested where they could get
il when needed to stop the panic ana
the enforcement of various state laws
regarding the holding Of cash reserves
bv hanks and trust companies
Barker said i'm October, when the
financial upheaval had reached 3"
crisis. he urged Roosevelt to distrio-
ute a hundred and forty five miihoi'
dollars, cash on hand in the treasurS
among the BANKS of Chicago, fhiia
delphia. Boston and other large citles
He wanted to do it" he SAID pu'
he called Knox. Cortelyou and ROOT
and instead of depositing 1t in ou,
side cities. he plunged the who'e
amount into Wall street. IL broke 'he
country. but saved the gamblers.