New Ulm review., 1912-10-23
fs0RD|D TllIE OF
|. RS FUND

ssSSSssSs SssSs0Vb 0sUO % . WUVV
gan Tell Of Millions Sub
scribed in 1904.
BIG FAv0RS IN RETURN
Frlck. Gould and Morgan Gave $1oa0oo
Each Corporations Gave 73H Per
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 % treasurer OF the Republica8
national committee.
Not only did the Standard OIL com
pany give 100000 to elect Mr.. Roose-
velt president, but J. Pierpont Morgan
L Co. gave 100000. H. c. Fricb gave
100000 and George Gould gave anothr
er 100000. Mr.. Sheldon testified that
73h 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
$150,000 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. MOI.
gan & Co.'s usual contribution to Re,
publican campaign funds was only
100000: that he never heard Of any
donation by his hrm 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 . dols
lar.
How Il Was Al Done.
To grasp these pregnant facts wo
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 II.
Dor, had been made chairman Of the
national Republican committee. He
and Cornelius N. Bliss, treasurer, were
collecting money. As George r. Shek
don, Mr.. Bliss successor, says, 731k
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
& Co.'S especial interest" in Mr..
Roosevelt's election, 1t Is possible that
later events may reveal 1t.
Mr.. Roosevelt never prosecuted ]. p.
Morgan & Co.'S steel trust. He en-.
phatica1ly stopped the proceedings in,
stituted by others against J. P. MorgaD
& Co.'S harvester trust. When the
panic Of 1907 was at its height he turn.
ed the resources OF the treasury over
to J. P. Morgan 4 Co., who used them
and made money and reputation by the
process. He met Gary and Frick, rep,
rssenting J. p. Morgan 4 Co.'S steel
trust, before breakfast one morning
and licensed them, in violation Of law.
to absorb the Tennessee Coal and Iron
thus giving J. p. Morgan =
Cos steel trust monopoly Of high
grade iron ore. He put Mr.. Bacon, Q
partner Of J. p. Morgan q Co., into the
state department and the diplomatic
service. He made Herbert Satterlee.
J. P. Morgan's son-in-law, assistant
'ecretary Of the navy. In letter to
Attorney General Bonaparte he test.
led feelingly to the virtues of the
Morgan interests which have been 50
riendly to u.s." Never before was the
public welfare" so cheaply protected.
Extent Of Morean's Interests.
The Morgan interests" are not con-
lned to J. P. Morgan & Co. by any
means. The Morgan interests compre.
lend life insurance companies, banks
nd trust companies, railroads and
enterprises II the par
mt house increased It's regular Repub-
lean contribution in 1904 because OF
ts especial interest" we may easily
imagine that the policy was widely
inflated by affiliated corporations and
Individuals. Perhaps in this almost un-
favor by the Morgan inter-
SITS we shall find an explanation OF
he Roosevelt administration hostility
, the Standard Oil interests, which
ave not always agreed with J. p.
[organ & Co. concerning "the welfare
the public"
1t may be that the senate committee
Ill be able to throw more light on
lis point, but 1t can hardly add any. ;