The Breckenridge news. (Cloverport, Ky.) 1876-1955, 1912-10-16
SOROIO TALE or
7. RS FUND
Treasurer Sheldon and ]. P. Nor
gan Tell Of millions Sub
sCrIbed In 1904
BIG FAvoRs IN RETURN.
Prick, Gould and Morgan Gave 100000
Esch--corporstiops Gave 73La Per
Cent Of Entire Amount Received.


Cent Of Entire Amount Received.
John d. 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
&fCo. gave 100000. II. G. Prick gave
100000 and George Gould gave anoth
er 100000 Mr.. Sheldon testified that
1915 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 he had contributed
$150OO0 to the Roosevelt campaign
fund In 1904 because he was especial
ly Interested" Mr.. J. p. Morgan added.
"The only interest we had was in the
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
100000; 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 $30.0Ou
and that this year neither he nor his
banking house had subscribed dol
lar
How 1t 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. MIR. Cortelyou. lately in contro
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 r. Shell
don, Mr. Bliss successor, says. 1871 per
cent Of the funds received came from
thu menaced corporations.
" we do not find in these disclosures
a sufficient explanation of j. p. Morgan
& Co.'S especial interest" in Mr..
Roosevelt's election. 1t is possible that
later events may reveal 1t.
Mr.. Roosevelt never prosecuted J. =,
Morgan 4 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 1877 was Mt its height he turn
ed the resources of the treasury over
to J. T. Morgan K Co., who used them
and made money and reputation by the
process He met Gary and Prick, rep
resenting j Z. 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 ]. p. Morgan Il
Co.'S steel trust a monopoly of high
grade iron ore. He put Mr.. Bacon. II
partner OF J. =. Morgan 4 Co.. into the
state department and the diplomatic
service He made Herbert Satterlee.
j. r. Morgan's son-in-law. assistant
secretary of the navy. In a letter to
Attorney General Bonaparte he testi
tied feelingly to the virtues of the
Morgan interests which have been 81
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. +. Morgan & Co. by any
mehns The Morgan interests compre
hehd life insurance companies. banks
and trust companies. railroads and
manufacturing enterprises, If the par.
ent house increased its regular Repub-
lean contribution in 1904 because of
it's "especia interest" we may easily
Imagine that the policy was widely
initiated by affiliated corporations and
individuals Perhaps in this almost nm.
exampled favor by the Morgan inter
the Roosevelt administration hostility
10 the Standard Oil interests. which
have not always agreed with J i
Morgan & Co concerning "the welfare
OF the public"
IL may be that the senate committee
will be able to throw more light on
this point. hut II can hardly add any
thing to the scandal Of the Morgan
Roosevelt alliance. II was Mr.. Roose'
welt who opened up to j. r. Morgan
& Co. the possibilities of government
by big business. II was Mr.. Roosevelt
who persuaded J. +. Morgan & Co. 10
plunge deeply into politics. II 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 r. Morgan Il Co. disappear
from the list OF regular contributors "a