The Washington times., 1920-02-22
Ship Deal, Defeated by Hearst Papers,
Violated Wilson'S Protested Principles


The third that Mr. J. Morgan fiscal agent for the
British and tho Wall Street shipping syndicate
has been Morgan organised by the elder MOI
gan
We can recall only three instances in the past genera
ton when an Administration has shown temporarily such
weakness in defense national interests such feebeness OF
resistance dictation Of money power Mr. wilson
Shipping Board has shown in its planned surrender OF
in 1897 the sale by the Government of the Union Pacific
Railroad then in bankruptcy. deal was made by some
closer the Administration than Chairman Payne
is to President Wilson to surrender all the Government
claim for unpaid interest which the Union Pacific owed
amounting to So Public criticism became vocifer
ous Senate investigation begun. But Mr. Mckinley
who always understood public sentiment much better than
Mr. Wilson does suddenly ordered the auction sale post
poned That broke OF the deal made by corporation law
yer in the Department Of Justice!
The Administration was saved the people graft
fed and the financial syndicate after paying the debt to
tho Government IN FULL made untold millions Tor itself
by Hariman's management of the railroad.
President Cleveland in the "free silver needed
gold to replenish the gold reserve.
Mr. Morgan (organizer Of the present ship syndicate
went to Warrington accompanied only by his personal
lawyer This lawyer Lynde Stetson previously had been
Grover Clevelands law partner Mr. Morgan in private
conference with President Cleveland at the White House,
cate exclusive control of Government bond issue The
syndicate was to get all the bonds at 104 Their sell
ing price in the open market then ia Lawyer Se
drew the contract 1t was signed at night in the White
needs to be reminded of Grover Ceveands incouptibe
integrity the truth is that the maseru ctatora nan
cer aided by subtle lawyer whom Cleveland trusted hyp
Noticed the Presidents vision and overwhelmed his udg
ment r,,.
The Morgan syndicate was to get all the money, Mr..
Cleveland all the blame
This unpatrioc and ndefensibe DEAL when exposed by
vglant press aroused the moral sentiment of the nation
The Senate ordered investigation, just the Senate
did of the ship deal last week Public opinion compelled
Morgan surrender the contract compelled Mr. Cleveland
it. Congress then enacted the law which has
troed the policy the Government since that United
States bonds should be sold only at public sale and at
price to everybody
President Roosevelt's sale of the Tennessee Coal and
Iron Company the Steel Trust which had long coveted it,
was less shocking incident of invisible government in
1907.
The singular power of the same group of autocratc
fnancers (Mr Morgans again the master mind was
shown by the way in which the deal carried out
After President Roosevelt had approved it, he sum-
moned his Secretary of State Ehu Root to the White
draw the legal papers making the purchase
and GRANTING IMMUNITY FOREVER TO THE FINAN-
lCIERS FROM PROSECUTION UNDER THE ANTI
TRUST LAW The Attorney General heard of it
til the Presidential sanction drawn by Root delivered
to him.
It protest against all such transactions these
that President Wilson elected. ..
He based his first campaign almost solely upon his
hatred of this invisible government by money kings who
constituted financial autocracy whose secret designs the
forces of democracy not able to cope with because
leaders of democracy too weak He said that other
nations holding their breath to what this young
country would do with her young unspoiled strength
but what has made us strong?" he asked.
1.-THE toll of millions of men, the toll of who do not
boast who nconspicuous but who live their lives hum
bly, day day. it is the great body Of toers that
stitutes the might of America