Martinsburg herald. [volume] (Martinsburg, W. Va.) 1881-1920, 1911-12-02
ACCUSES 7. R.
Banker Says He Made Deal
With Big Business.
STARTltS SENATE COMMITTf
Barker Declares Roosevelt Made q
Bargain" With Financial Inter-
ests in 1904 to Support Him
For President.

Washington, Nov. 2s. Wharton
Barker, a retired banker OF Philadel-
phia, sprung sensation on the sen
ate COMMITTEES on interstate commerce.
when he alleged that a New York
financier told him in 1904 that the
financial interests would support
Theodore Roosevelt for president be-
cause the latter had made bargain"
with them on the railroad question"
Mr. Bankers statement came in the
midst of vigorous attack on the
money trust, in which he alleged
also that President 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 that the Aldrich cur
rency plan was the handiwork, not
only OF former Senator Aldrich, but of
Mr.. Warburton, OF the banking firm
Of Kuhn, Loeb & Co., of New York,
and that fund of 100000 had been
started to insure it's adoption.
Three of four weeks before the
election in 1904 said Mr.. Barker, Il
met one OF the most distinguished
money kings in New York, man now
dead. He said to me: I'VE are going
to elect Roosevelt" | expressed sur
prise. He said that they had fright
ened Roosevelt SO he had made bar.
gain with them"
Members of the committee looked
somewhat incredulous, and Mr.. Bar
ker added:
Wished Roosevelt Was There.
Il wish Mr. Roosevelt were here"
Townsend; lit would be interesting"
Mr.. Barker continued.
He is to holler all he wants TO-,
he told me, but by and by railroad
bill will be brought in by recommen-
dation Of the president, cutting off re-
bates and free passes. which suits us
who own the railroads, permitting
pooling arrangements and providing
for maximum rates.
The railroad man added, said Mr..
Barker. that under the latter author
ity it would be possible to add from
s300,0o0.000 to s4o0,000,000 to the to-
tai freight charges paid by the Amer
lean public. E.s.
Il told him | didn't believe Roose.
welt made any such agreement, said
Mr.. Barker. but when the annual
message of 1906 went to congress he
recommended most of those things.
wrote to President Roosevelt and told
him what | heard. 1t was the only
letter of mine Mr.. Roosevelt ever fail
cd to answer"
Members OF the committee asked
Mr.. Barker to give the name OF the
financial man who had told him that
Roosevelt was to be elected.
Letters Stolen From Hartman.
Il cannot do it," said Mr.. Barker.
but subsequently somebody was al
legged to have stolen some correspond
ence between Mr. Hartman and the
president, telling OF $250,000 put up
for election expenses in the city of
New York"
Mr.. Barker said that in October.
when the financial upheaval reached
its crisis, he urged President Roose-
welt to distribute the $l45, 100000 of
cash on hand in the treasury among
the banks OF Chicago, Philadelphia,
Boston and other large cities.
HE wanted to do It," he said, "but
he called in Mr.. Knox and Mr.. Cortel-
you and Mr.. Root, and the result was
the whole amount went into Wall
street"
The Philadelphia man declared that
those who backed the Aldrich none
tary plan had begun a propaganda"
in which 1t was proposed to spend a
million dollars to secure the indorse-
ment OF the proposed currency legis-
lation.
Monday a banker in Philadelphia
started to collect that city's share Of
the money, 100000" he said.
He urged law that would compel
national banks to hold their legal re-
serve in cash, instead of having the
power to redeposit part of it in the
hapIc ~ Naur Work