The gazette-times. [volume] (Heppner, Or.) 1912-1925, 1914-07-16

New Haven monopolization of the
affairs of New Eng
land.
Large sums were paid in five
states to lawyers who never partici-
pated in any litigation for the COM
pany. The losses to New Haven
stockholders through corruption and
maladministration are placed by the
commission at $60,000,00O to $780,
100000. Dummy corporations were
frequently employed to carry out the
malordorous scheme of corruption.
What makes this recital of dishon-
est manipulation and waste extraor-
dinary is the paramount fact of who
did it. The road was managed, not
by its president, not by its board of
directors, not by it's stockholders, but
by certain great Wall Street finan-
ciers who were supposed to embody
the highest integrity of the country.
They were Mr.. Morgan, Mr.. Rookie
feller and their associates, who ad-
mittedly represented the best there is
in Wall Street. Their opinions were
law in the financial world. Their
judgments were regarded as infalli-
BILE. Wall Street almost deified them.
Yet look at their work! In their
efforts to control the transportation
of New England, they guided great
railroad system, one Of the best in
the world, to plunder and disaster.
In their desire to exploit the people
of half a dozen great states, for their
own gain, they squandered $60,00O,-
900 to $9O,O0O,O00 Of the money of
the New Haven stockholders, many
of whom were reduced to bankrupt
cy.
What is more, these heads of New
York banking houses, by interlock
ing directorates, control many of the
great industrial and commercial en-
terprises of America. They and their
immediate associates exercised sway
over the great world of industry, f.
nance, insurance, commerce, bank
ing and transportation. In all these
great fields, is it not almost certainly
probable that they employed the
same vicious methods, dealt with the
same stealthy politicians, lndulged in
the same corrupting of government
that they have been found guilty of
by the Interstate Commerce Commits
sion in the New Haven management?
In the light of these criminal
transactions by the greatest banking
heads in this nation, who would turn
Woodrow Wilson back i4'his effort
to make these things impossible?
Who but special interests would re-
peal his tariff bill and restore to
these groups of great fnanciers the
power to tax the shelter, food and
clothing of all the people?
Who would repeal the new cur
rency bill which took from these New
Haven wreckers their personal do
minion over the credit and money of
the country and give that control into
the hands of the American people?
Who can offer single sound reason
why the presidents bill for trade
commission to supervise the trusts
should be rejected? Who can put
forward one legitimate argument
against the presidents bill to send
to jail trust brigadier for such ex-
ploitation as befell the New Haven?
Who that reads the Interstate
Commerce Commission arraignment
of the New Haven management, can
offer one single objection to the pres
ident's bill for regulating railroad
issues of stock securities and for re-
quiring the proceeds of such securi-
ties to be applied to the road instead
of to the benefit Of dishonest direct
ors and managers?
They say President Wilson's policy
has "hurt business" Is it President
Wilson's policy or the Morgan-Rock
efeller method of running railroads
and other great institutions that has
"hurt business?"
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