Daily Kennebec journal. [microfilm reel] (Augusta, Me.) 1870-1975, 1915-04-30
ROOSEVELT'S STORY OF
HOW HE ENDED PANIC

tCort.nued From Pace y
as contributors were interested dur
inc your administration
An objection was sustained
Nov, for the Tennessee Coal &
Iron and the United States Steel Cor
poration?
" hen the merger took place ] un-
derstood the Tennessee was so weak
that the Steel Corporation didn't con-
slider it d dangerous competitor. The
corporation controlled about 50 per
Gary OF the Steel Corporation would
to "a per cent. The action occurred
during the height 0f the panic Of 1907.
The primo interest Of every citizen
WIS that some measure should lac TAX
en- to restore confidence. In New Yorl;
the situation was trembling on q hair
as to whether business would have II
Toe shut up one night / received no
tee thai next day MIR. Trick ana Ir
Gary OF the Steel Corporation Woul i
come 10 see me. ! had received thou
sands Of appeals TO do something.
The counsel for the plaintiff object
GO AZ tIlat point. 1t was overruled and
tho Colonel continued:
y notified the attorney general 10
meet the Two gentlemen. He was in
Baltimore and could not get there. !
then invited Mr.. Root. MIR. Gary said
if MI pierpont Morgans company
took i,rmcdiat control Of he Tennes-
see tho stock o. the company would
Immediately be enhanced in value and
that the result would he the end OF
the company.
didn't want TO by tho stock as they
wero trying 10 reduce ;hoir holdings.
I object" said A'r. WINS.
Wei, 90 i openly, replied Mr.
Bowers
u am doing il a. openly and as
loudly as can with all the voice the
Lord has left to me- said Mr. WINS
t.aI Right TO Explain
The court said the Colonel had risAt
to explain The matter as there might
have been some inference that there wa
the two concerns.
NOl- iAGOSeNSi1 continued.
Il asked them to wait until the atto~-
ney general got OVER from Baltimore
They said the situation was acute an ID
that If something wasn't down before
the market opened the crash would
come. ! called in the newspaper men
and told them of the action l had de-
cded 20 take The news was printed
all over the country and the panic was
stopped"
Since you became governor how many
letters have you written
Il have written more than 10000 let
tors. / have made over 40l1o appoint
mcnts. ! have signed 10000 laws. carry
ing appropriations of several billion dol
lars. / have made thousands Of speech
es"
In reply to questions the colonel then
said:
Disreearced Advice
Il always consulted MIR. Platt about
appointing judges. ] disregarded his ad-
vice on judges. however, more than |
did on anything else. Some of the judges
appointed ! knew personally. On others
] had the recommendation OF men l knew
or bar associations. In appointments to
higher courts l always knew the man or
knew all about him
While you were governor or President
were there any invisible government on
your part?''
There was not one particle replied
the colonel with emphasis.
do you remember reading at the tina
of the New York insurance inyestiga-
ton the testimony given by Senator
Platto"
Yes"
The court would not allow the witness
to answer a question on what the testi-
mony was.
Did the article" Mr.. Bowers went on.
contain statements you believed to be
true?"
The same objection was made and the
same ruling was made,
Mr.. Bowers then went on to ask the
colonel about a speech he made in which
he said the interests of Mr. "B" and Mr.
n" Barnes and Chas. F. Murphy were
identical and that the former controlled
Albany as the latter did New York.
Il object" said Mr.. WINS. IF we start
that we'll have to investigate New York
and Albany"
You don't know how much YOU
friSaten me- Mr.. Bowers replied.
You We're asked on cross-exanaina-
ton questions about your residence
when you were nominated for cover
nor. Did Mr.. Root make a speech upon
the subject to the convention"
Yes, replied the Colonel
And you were nonlinated?''
Yes, unanimously"
Ibid the attitude you took in your
speeches after 1911 differ from the atti-
tude concerning Mr. Barnes you took
in 1907"
An objection was sustained
What facts came to your knowledge
that led you &c change your mind about
Mr.. Barnes
There was another objection.
The court said. why, he has gone
that ! believe
After lengthy discussion. Justice An
erews allowed the witness to proceed.
Mr.. Bowers produced a letter
did you see this m the spring OF
l9H?''