The Democratic advocate. [volume] (Westminster, Md.) 1865-1972, 1912-10-25
S0RDID TALE OF.
I, RS FUND
Treasurer Sheldon and J. P. Nor
gan Tell Of Millions Sub
sCribed in 1904
Big FAVORS IN RETURN.
Frick, Gould and Morgan Gave 100000
neutrality-suspicious. Gave 73R Per
Cent of Entire Amount Received.

Cent OF Entire Amount Received
John ID Archbold's statement that
the Standard Oil 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. Il. c. Prick gave
100000 and George Gould gave anoth
er 100000. Mr.. Sheldon testified that
1914 per cent Of Mr.. Roosevelts total
campaign fund was contributed by cor
porations.
Naturally these people gave their
money freely to the Roosevelt cam
paign fund
Testifying that ne had contributed
$4,000 to the Roosevelt campaign
fund In 1904 because he was especial
ly interested" Mr.. J. =. Morgan added
''The only interest we had was in the
welfare Of the public"
MIR. Morgan emphasized bis 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
$100,O0O; 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 100000
and that this year neither he nor his
banking house had subscribed a dol
lar.
How IL Was All Done.
4 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 II as secretary Of commerce and Ia
Dor, had been made chairman of the
national Republican committee. He
and Cornelius N. Bliss, treasurer, were
collecting money. As George r. Shel
don, Mr.. Bliss successor, says, 1914 per
cent Of the funds received came from
the menaced corporations.
If we do not find in these disclosures
sufficient explanation of j. p. Morgan
g. Co.'s especial interest" in Mr.
Roosevelt's election, 1t Is possible that
later events may reveal III.
Mr.. Roosevelt never prosecuted J. P
Morgan & Co.'s steel trust He en-
phatically stopped the proceedings in
stituted by others against J. P. 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. 2. Morgan & Co., who used them
and made money and reputation by the
process. He met Gary and Frick, rep
resenting J. 2. Morgan & Co.'s steel
trust, before breakfast one morning
and licensed them, in violation Of law
to absorb the Tennessee Coal and Iron
company, thus giving J. ?. Morgan 4
Co.'s steel trust a monopoly Of high
grade iron ore He put Mr.. Bacon, n
partner of j. =. Morgan Sc Co., into the
state department and the diplomatic
service. He made Herbert Satterlee.
j. 2. Morgan's son-in-law, assistant
secretary Of the navy. In letter to
Attorney General Bonaparte he resti-
fed feelingly to the virtues of the
Morgan interests which have been 50
friendly to u.s." Never before was the
"public welfare" so cheaply protected
Extent of Morgan Interests.
The Morgan interests" are not con
fined to j. L. Morgan & Co. by any
means The Morgan interests compre
bend life insurance companies, banks
and trust companies. railroads and
manufacturing enterprises. II the par
ent house Increased its regular RWpub-
lican contribution in 1904 because OF
its "especal interest" we may easily
imagine that the policy was widely
initiated by affiliated corporations and
individuals Perhaps in this almost I'M
examped favor by the Morgan inter
ests we shall find an explanation of
the Roosevelt administrations hostility
to the Standard Oil interests, which
have not always agreed with j. 2.
Morgan & Co concerning 1.-The welfare
or the public"
1t may he that he senate committee
will he able to throw more light on
this point lint it can hardly add any
thing to the scandal of the Morgan
Roosevelt alliance. IT was Mr. Roose-
velt who opened mp to J. 2. Morgan
& Co. the possibilities of government
by big business Ii was Mr.. Roosevelt
who persuaded J. r. Morgan 6, Co. to
plunge deeply into politics. 1t was Mr.
Roosevelt who. consulting 1.-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. r.. Morgan g. Co. disappear
from the list Of regular contributors to
the colossal corruption funds Of the
Republican party. Are J. ?. Morgan
& CO. now operating politically under
cover or their recent partner, George
w Perkins? New York World