Carolina watchman. [volume] (Salisbury, N.C.) 1871-1937, 1912-10-16
How 1t Was All Done.

INV I WAC Al D$fAS
To grasp these pregnant facts we
Ehave only to recall a little modern his
itory. In 1904 Mr.. Roosevelt had his
bureau of corporations in working or
kder. Mr.. Cortelyou, lately in control
tot 1t as secretary of commerce and Ia
Thor, had been made chairman Of the
national Republican committee. He
land Cornelius N. Bliss treasurer, were
~teollecting money. AS George R. Shell
!don, Mr.. Bliss successor, says, 1871
tper cent, Of the funds received came
from the menaced corporations.
II we do not find in these disclosures
ia sufficient explanation Of J. P. Morgan
vs. Co.'s especial interest in Mr.,
}Roosevelt's election, 1t Is possible that
pater events may reveal it.
Mr.. Roosevelt never prosecuted ]. P.
Morgan & Co.'s steel trust. He en-
Ephatically stopped the proceedings in
Isdtuted by others against ]. P. Morgan
ia Cos harvester trust. When the
tpanic Of 1907 was at its height he turn
Jed the resources Of the treasury over
ITO ]. P. Morgan & Co., who used them
land made money and reputation by the
process. He met Gary and Prick, rep
Presenting J.. P. Morgan & Co.'S steel
trust, before breakfast one morning
ARnd licensed them, in violation of law,
Ito absorb the tennessee Coal and Iron
company, thus giving J. P. Morgan &
Zoos steel trust a monopoly of high
grade iron ore. He put Mr.. Bacon, a
partner Of J. P. Morgan & Co., into the
Fstate department and the diplomatic
sseryice, He made Herbert Satterlee,
u. F. Morgan's son-in-law, assistant
tsecretary Of the navy. In a letter to
kAttorney General Bonaparte he testi.
fed feelingly to the virtues of the
Morgan interests which have been SO
Friendly to u.s." Never before was the
fspubllc welfare" SO cheaply protected.
Extent of Morgan's Interests.
The Morgan interests" are not con
fined to j. P. Morgan & Co. by any
snoans. The Morgan interests compre.
hend life insurance companies, banks
and trust companies, railroads and
manufacturing enterprises. If the par
Sent house increased its regular Repub-
dican contribution in 1904 because OF
Its especial interest" we may easily
Imagine that the policy was widely
amitated by affiliated corporations and
individuals. Perhaps in this almost IN
exanpled favor by the Morgan inter
festg we shall find an explanation OF
ethe Roosevelt administration hostility
ito the Standard Oil interests, which
have not always agreed with ]. P.
Morgan & Co. concerning "the welfare
of the public"
It may be that the senate committee
Twill be able to throw more light on
this point, but it can hardly add any
khing to the scandal of the Morgan.
Roosevelt alliance. It was Mr.. Roose.
welt who opened up to J. P. Morgan
k& Co. the possibilities of government
by big business. 1t was Mr. Roosevelt
who persuaded J. P. Morgan & Co. to
plunge deeply into politics. 1t was Mr..
Roosevelt who, consulting "the public
weifare," registered the DEGREES of j..
tP. Morgan & Co. in the White House.
Not until MI. Roosevelt had lost con
srol of the Republican machinery and
khe 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 ]. P. Morgan
10 Co. now operating politically under
soover of their recent partner, George
a. Perkns7-Nsw York World.