The Progressive West Virginian. [volume] (Williamson, W. Va.) 1911-1913, 1912-10-24
+--r--
SORDID TALE OF
I. RS FUND
Treasurer Sheldon and ]. P. Nor
gan Tell Of Millions Sub
scribed In 1904
BIG FAyORs IN RETURN
Frick, Gould and Morgan Gave 100000
neutrality-suspicious. Gave 1874 Per
Cent Of Entire Amount Received.

John D. Archbold's statement that
the Standard OH company contributed
100000 to Mr.. Roosevelt's campaign
fund In 1904 was confirmed by George
R. Sheldon, who succeeded Cornelius
n Bliss as treasurer of the Republican
national committee.
Not only did the Standard Oil com
pany give 100000 to elect Mr.. Roose-
welt president. but j, Pierpont Morgan
& Co. gave 100000. II. G. Prick gave
100000 and George Gould gave anoth-
err 100000 Mr.. Sheldon testified that
1871 per cent of Mr.. Roosevelt's total
campaign fund was contributed by cor
porations
Naturally these people gave their
money freely to the Roosevelt cam
paign fund.
Testifying that he had contributed
$150.OO0 to the Roosevelt campaign
fund In 1904 because he was especial
~ interested" Mr.. J. p Morgan added,
welfare Of the public"
Mr. Morgan emphasized his devotion
to Mr.. Roosevelt's political fortunes by
the further statement that j. P. Nor
gan & Co.'S usual contribution to Re
publican campaign funds was only
$4,000; that he never heard of any
donation by his firm to the Democrats;
that when Mr.. Taft was candidate in
1908 the sum subscribed was $4,000
and that this year neither he nor his
banking house had subscribed a dol
lar.
How It Was All Done.
To grasp these pregnant facts we
have only to recall little modern his
tory. In 1904 Mr.. Roosevelt had his
bureau of corporations In working or
der. Mr.. Cortelyou, lately In control
of 1t as secretary Of commerce and la
Dor. had been made chairman of the
national Republican committee. He
and Cornelius N Bliss. treasurer. were
collecting money. As George K Shell
don, Mr.. Bliss successor. says. 1871 per
cent Of the funds received came from
the menaced corporations
Ii we do not find in these disclosures
sufficient explanation of j P Morgan
& Co.'S especial interest" in AIr
Roosevelt's election. it is possible that
later events may reveal it.
Mr. Roosevelt never prosecuted j. L
Morgan & Co.'S steel trust. He EN-
phatically stopped the proceedings in
stituted by others against j F. Morgan
& Co.'S harvester trust When the
panic Of 1907 was at its height he turn
ed the resources of the treasury over
to J. T. Morgan q Co, who used them
aud made money and reputation by the
process He met Cary and Prick. rep
resenting j p. Morgan & Co.'S steel
trust. before breakfast one morniu.
and licensed them. in violation of law.
to absorb the Tennessee Coal and Iron
company, thus giving j. p. Morgan x
Co.'S steel trust monopoly Of high
grade iron ore, He put Mr. Bacon, u
partner of J. r. Morgan & Co., into the
state department and the diplomatic
service. He made Herbert Satterlee.
j. p. Morgans son-inlaw, assistant
secretary Of the navy. In letter to
Attorney General Bonaparte he test
fed feelingly to the virtues of the
Morgan interests which have been SO
friendly to u.s." Never before was tho
public welfare" so cheaply protected
Extent Of Morgan interests.
The Morgan interests" are not con
IN I q. ~ hr
means The Morgan interests compre-
bend life insurance companies. banks
and trust companies. railroads and |
manufacturing enterprises If the par
ent house Increased its regular Repub- |
lican contribution In 1904 because OF |
its especial interest we may easily |
imagine that the policy was widely
initiated by affiliated corporations and |
individuals. Perhaps In this almost un
exampled favor by the Morgan inter
ests we shall find an explanation of
the Roosevelt administrations hostility
to the Standard Oil interests, which I
have not always agreed with ] r
Morgan & Co. concerning "the welfare
of the public"
1t may be that the senate committee
will be able to throw more lighl on
this point but It can hardly add any
thing to the scandal of the Morgan
Roosevelt alliance 1t was Mr.. Roose-
welt who opened up to ] p Morgan
& Co. the possibilities of government
by big business. 1t was Mr. Roosevelt
who persuaded J. r. Morgan & Co. to
plunge deeply into politics It was Mr.
Roosevelt who. consulting '.the public
welfare" registered the DEGREES OF j
p. Morgan & Co. In the White House
Not until Mr. Roosevelt had lost con
troll of the Republican machinery and
the law providing for publicity Of cam
paign contributions had gone into ef
feet did j P. Morgan & Co disappear
from the list Of regular contributors To
the colossal corruption funds Of the
Republican party Are ! r. Morgan
& Co. now operating politically under
cover Of their recent partner. George
w, Perkins?-N York World.