The Washington times., 1922-05-26
.UNTERMEYER
REVIEWS ATTACK
ON J. P. MORGAN
Advises La Toilette of Alleged
Control of Cabinet by
Wall Street.

Launching a fresh attack upon the
Department of Justice in the Senate
late Yesterday. Senator La Toilette
caused to be entered in the Senate
Record this charge:
That the Department Of Justice
is under control Of the banking
firm Of j. p. Morgan & Co.
That corporations over which
Morgan & Co. exercise financial
control are enabled to do what
they please without regard to the
law.
That this control Is exercised
irrespective Of whether a Repub-
liCan or Democratic administra-
tion is In office in Washington.
The charge is made by Samuel
Cntermeyer. counsel Of the Lock.
wood committee. which has been in
vestigating housing conditions In
charges into a communication which
he sent TO Senator La Toilette. and
which the latter inserted in the
Record.
The communication referred specif-
ically to the failure OF the Depart.
ment Of Justice to make any move
toward breaking up the monopoly
held by the General Electric Com
pany over the supply Of electric
light bulbs, as shown by evidence
produced before the committee. Nor.
gan & Co. are in control of the
financial affairs OF the General Elec
trio Company. according to Inter
never, and have been able to keep
the Department OF Justice from pro.
ceedinC against H.
Untermeyer' exact language in
describing the power OF Morgan a
Co. over the Department of Justice
is as follows:
No Cooperation.
ITO be brutally frank about the
business (the General Electric's mo.
nopoly). I am satisfied that the over.
shadowing power OF ]. z. Morgan a
Co. who are the financial managers
Of this company. and who really con-
troll it's destinies, and one Of whose
members is a director in the com.
pany will make II impossible ever to
secure any sort Of effective relief
through the agency of the Depart
ment of Justice. Experience over the
past two dcades and upward has
demonstrated that the great corpora.
how or other, manage TO do Just
about as they please and remain
above and beyond the law.
ITO get the protection Of that
great international banking firm
seems to be equivalent to policy
Of insurance against legal restraint.
1t matters not whether we happen
to he under Republican or a
Democratic administration; their in.
fluence Is apparently quite as po-
tent with the latter as with the
former, and at times il has seemed
as II II were little more so.
There is no difficulty in multiply.
ing proof In support Of this asser.
tion. The history Of the years OF
abortive litigation arising out of
their mismanagPment Of the New
Haven road and the flagrant viola
tions Of law that accompanied the
dehacle Of that great property Is
an apt illustration.
THE last chapter opened few
davs ago with the smashing OF the
wholesome safeguard against mo.
nnpolv provided by the law against
interlocking directorates OF COM
peting properties, where the court,
on motion Of the Attorney General,
abrogated that restriction as be.
tween the New Haven and the Bos.
ton and Maine roads. The ink was
hardly dr. on the signature 10
the law. which was one OF the most
constructive results NJ the money
trust investigation, when the law
was so amended as to permit Of
artinn