The Leon reporter. (Leon, Iowa) 1887-1930, 1912-10-17
SORD|D TALE OF
7. RS FUND
Treasurer Sheldon and J. P. Nor
gan Tell of Millions Sub i
scribed in 1904.
BIG FAVORS IN RETURN
FrIck, Gould and Morgan Gave 100000
Eaeh-Corporatio Gave 73H Per-
Cent. Of Entire Amount Received. ,

John D. Archbold's statement that
the Standard OIL company contributed
500, 900 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
G. Co. gave 100000, H. c. Frick gave
$1,000 and George Gould gave anoth-
er 100000. Mr.. Sheldon testified that
1874 pcs 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
$4,000 to the Roosevelt campaign
fund in 1904 because he was especial
ly interested" Mr.. ]. p. Morgan added,
1.-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 Ke-
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 $4,000
and that this year neither he nor his
banking house had subscribed dol.
lar.
How 1t Was All Done: u
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 it 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. Shell
| don, Mr.. Bliss successor, says, 73A
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 Mr.:
Roosevelt's election, 1t is possible that
| later events may reveal it.
Mr. Roosevelt never prosecuted J. P.
Morgan & Co.'S steel trust He em
| phatically stopped the proceedings in
stituted by others against ]. P. Morgan
& Cos harvester trust. When the
| panic Of 1907 was at it's height he turn
ed the resources Of the treasury over
to J. P. Morgan & Co., who used them
and made money and reputation by the
process He met Gary and Frick, yep
resenting ]. p 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 &
Cos steel trust monopoly Of high
grade iron ore. He put Mr.. Bacon, a
| partner Of J. P. Morgan & Co., into the
state department and the diplomatic
service He made Herbert Satterlee,
J. P. Morgans son-in-law, assistant
secretary of the navy. In a letter to
Attorney General Bonaparte he testi
fed feelingly to the virtues of the
Morgan interests which have been Sc
public welfare" SO cheaply protected
Extent Of Morsan's Interests.
The Morgan interests" are not con-
fined to ]. P. Morgan & Co. by any
means. The Morgan interests compre
bend life insurance companies, banks
and trust companies, railroads and
manufacturing enterprises. If the par
ent house increased it's regular Repub
lican contribution in 1904 because OF
it's 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 administration hostility
to the Standard Oil interests, which
have not always agreed with J. P.
Morgan 4 Co. concerning 'the welfare
Of the public"
1t may be that the senate committee
will be able to throw more light on
this point, but it can hardly add any
thing to the scandal Of the Morgan
Roosevelt alliance. It was Mr.. Roose
velt who opened up TO- J. p. Morgan
& Co. the possibilities Of government
BY big business. It was Mr.. Roosevelt
who persuaded J. P. Morgan & Co. to
plunge deeply into politics. 1t was Mr.
Roosevelt who. consulting the public
welfare" registered tho DEGREES OF ].
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 eff.
feet did ]. p. Morgan & Co. disappear
from the list Of regular contributors to
the colossal corruption funds Of the
Republican party. Are J. P. Morgan