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OCTOBER 13, 1905
The Commoner.
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THE NEW YORK DIOCESE of the Episcopal
church met September 28. J. Pierpont Mor
gan was a lay member of that body. During Mr.
Morgan's absence from the meeting, Rev. John
Marshall Chew, of the Church of the Good Shep
herd, offered, a resolution which newspaper dis
patches say "touched upon the perversion of
trust funds, and openly criticised those persons
accused as represented in the insurance investi
gation." Referring to this incident the New
York correspondent for the Baltimore Sun says:
"Bishop Potter, who was presiding, frowned all
through the reading of the resolution, and at the
close suggested to Rev. Dr. Chew that he take
some paternal advice from him and not press his
resolution until after the case had been fully
tried by the authorities who were sitting in judg
ment on life insurance companies. The introduc
tion of the resolution caused a sensation, and the
deputies listened in silence to the caustic and
sarcastic arraignment by Dr. Chew of the busi
ness men who dabble in high finance and yet are
respected by the church, although they seemingly
practice deception and infidelity. The resolu
tion among other things said: "The tampering
with trust funds by men In high positions of
privilege and confidence in the business world
constitutes a most discouraging evidence of moral
laxity and bad example among those from whom
the church and nation have a right to expect bet
ter things. No talent for high finance, no useful
service to the community, no benefaction to the
church cr to objects of philanthropy, can excuse
or atone for dereliction in trust, contempt for the
rights of others, or disregard of the rules of com
mon honesty."
a T THE SAME CONVENTION Coadjutor
J Bishop David H. Greer declared that no
more difficult problem confronted the country
than that offered in the negro question. Referring
to this question, Bishop Greer said: "Can we
hope to solve It fully and adequately by secuku
education or by industrial education?
These indeed, are important, imperative and es
sential. But must there not go along with these
such educational help as the Christian church
can give, such educational help as will tend to
change the character, to regulate the emotions,
to purify the passions, to develop or create or
gradually instill those fixed moral principles
which would tend to make these Afro-American'
people dwelling in our midst a moral force and
factor in our national life and growth, and help
them thus to reach that destiny, still undeter
mined, but great and high, I believe, which awaits
them in' the future? "What are we, as a part of
the universal Christian church, doing to solve
this problem?"
PAUL MORTON, president of the Equitable
Life Assurance society, recently invited
Nicholas Murray Butler, president of Columbia
University, to become a director of the Equitable.
President Butler notified Mr. Morton that he
could not accept the invitation. Later, address
ing the students of Columbia on the occasion of
the opening of the university's one hundred and
fifty-second year, President Butler declared that
"just now the American people are receiving
some powerful lessons in practical ethics, and
are having brought homo to them with severe
emphasis the distinction between character and
reputation."
ON THE SAME LINE President Butler said:
"A man's true character, it abundantly ap
pears, may be quite in conflict with his reputa
tion, which is the public estimate of him. Of
late, we have been watching reputations melt
away like snow before the sun; and the sun in
this case is mere publicity. Men who for years
have been trusted implicitly by their fellows and
so placed in positions of honor and grave re
sponsibility are seen to be mere reckless specu
lators with the money' of others and petty pil
ferers of the savings of the poor and needy.
"With all this shameful story sprpad before us it
takes some courage to follow Emerson's advice
not to bark against the bad, but rather to chant
the beauty of the good. Put bluntly, the situa
tion which confronts i Americans today is due to
lack of moral principles. New statutes may be
needed, but statutes will not put moral prin
ciple where it does not exist. Tho greed for
gain and the greed for power have blinded men
to tho time-old distinction between right and
wrong. Both among business men and at the
bar are to be found advisers, counted shrewd and
successful, who have substituted tho penal code
for the moral law as the standard of conduct.
Right and wrong have given way to tho subtler
distinction between legal, not-illegal, and Illegal;
or, better, perhaps, between honest, law-honest,
and dishonest. This new triumph of mind over
morals is bad enough in itself; but when, In ad
dition, its exponents secure material gain and
professional prosperity, it becomes a menace to
our integrity as a people."
AGAINST what ho calls "this casuistry of tho
counting olllce and or tho law office, this
Buuterfuge and deceit," President Butler said:
"Real character will stand like a rock," and ho
added: "This university, and all universities, in
season and out of season, must keep clearly in
view before themselves and tho public tho real
meaning of character, and thoy must never tiro
of preaching that character, and character alone,
makes knowledge, skill, and wealth a help rather
than a harm to those who possess them and to
the community as a whole. Diverse as our in
tellectual interests here are, and various as aro
our daily tasks, there Is ono aim which all fac
ulties and schools, all teachers and scholars, have
in common the building of character. Whother
we pursue tho older liberal studies or tho newer
applications of knowledge, or some one of tho
learned professions, we are all concerned, first
and foremost, with the forming of-hoso traits
and habits which together constitute character.
If we fail in this, all our learning is an evil."
IN A RECENT ISSUE Colliers Weekly printed
the following editorial: "Gains in the
morality of public life, and in the standards which
tho general sentiments enforce, are the most
agreeable incidents which it falls to a journal
to record. So much failure in tho integrity ot
office is necessarily forced upon our notice that
the opportunity to chronicle the brighter side Is
doubly valued. The Loomis case has ended in a
signal victory for tho people. It was a leading
case, and in some respects an insidious and
rather gross one. Corrupt politics everywhere
in America are dependent in largo part upon a
certain brand of good-humored tolerance, by
which an official whose bearing, is popular is al
lowed much latitude in the workings of his con
science. Mr. Bowen's instinct for demeanor was
not distinguished, and it looked for a time as if
his unpopularity in administrative circles, and
Mr. Loomis's popularity there, would result In
the flagrant condonation of the kind of fault- In
office which at present most needs extirpation,
namely, the improper relation of money-making
to public trust. Whether Mr. Root or newspaper
clamor was the immediato cause, a change came
over the spirit of Mr. Roosevelt's dreams, and,
decently protected by stories about ill-health and
future plans, Mr. Loomis was effectively removed
from a position to which he has been no honor.
From his successor there seems reason to ex
pect standards which will give satisfaction to that
public conscience which now shows such distinct
signs of increasing strength. Although attempts
to hide the reasons for Mr. Loomis's dismissal
are to be regretted, the harm done by such at
tempts in this especial case is small, because at
tention has been focused on tho outcome, and the
example will be a useful one."
SINCE THE ABOVE editorial appeared In
Colliers, correspondence between Mr. Roose
velt and Mr. Loomis has been made public. Mr.
Loomis wrote to the president directing his at
tention to the fact that certain newspapers bad
charced that the late Secretary of State John
Hay had severely criticised Mr. Loomis, and was
In fact generally antagonistic to him, and ask
ing that the president state the real facts. Reply
ing to Mr. Loomis, Mr. Roosevelt gave to the
ate first assistant secretary of state complete
assurance that Mr. Hay had no criticised him,
SS in fact was very partial to him. Throughout
Mr. Roosevelt's letter there is very c early a
?one showing that tho president, as well as the
Into secretary of Htnto, entertains a very high
opinion of Mr. Loomis, and It may also bo said,
a very poor opinion of Mr. Howon. Incldontally
it may be observed that nomo criticism has boon
passMOd upon Mr. Rooaovult because of tills latent
manifestation of partiality for a i..nn who, bo
far as public opinion Is concerned, may bo said
to be In discredit.
BY WAY OF ItfllPLY to Mr. RooKUvalfs latter
to Mr. LoomlH, Herbert 13. Bowan, former
A .lorlcan minister to Venezuela, has iKHtiod a
(ftatomout in which ho xuys: "In antiwar to the
letter that were rocently exchanged by Mr.
Roosevelt and Mr. Loomis, I have to say only
thin: After 1 sent to Washington all of the docu
ments which I found in tho legation ati Caracas
relating to Mr. Iouils I received a letter from
Mr. Hay stating: 'I have boon greatly surprised
stud pained in reading tho documents you sent
me.' The following month ho wrote me a lottor
containing theso friendly words: 'I havo always
taken your part, not only from personal liking,
but from a conviction of your merits, your ability,
your courage and your Intogrlty.' In conclusion,
In ordor to show President Roosevelt's attitudo
toward Mr. I oomis, I will simply quoto my re
mark to him nnd his to mo In tho proHonce of wit
nesses the day he dismissed mo: 'Mr. Prosldont,
you will remember that after I sent to you all
tho information I had about Mr. Looiuis you off
ered me a promotion that was Intended to lead
to an ambassadorship.' 'Well,' he answered, 4I
would havo dono a great doal to hush up tho
scandal.' " Later Secretary of War Taft, who was
present at the meeting referred to, denlod that
tho president made any such statement, saying
what ho really said was that he was "sorry tho
whole matter happened."
S" P. DAVIS, comptroller and Insuranco com
. mlssloner for Novada, has revoked tho
Uccnso of the Now York Mfo Insuranco company
in that state. Mr. Davis sent to President McCall
the following telegram: "Pending tho InvesMtra.
tlon of the corrupt management and fraudulent
dlapopal of funds onl rusted to your company, and
so, long as yourself and George W. Perkins re
tain offices of trust in the management of tho
New York I ife Insurance company, the license
to do businoKK in the state of Novada is hereby
revoked. Upon advice of a change of manage
ment and satisfactory proof of honest manage
ment the license will he reissued. A notlco has
boon forwarded throughout tho state warning all
agents of the fact of tho ordor and giving tho
agents two weeks to close the records."
RECENTLY IT WAS ANNOUNCED that Sec
retary Shaw would resurno on October 2
the' refunding of the fhorMerm 4 per centa Into
2 per cents. Tho New York World savs that
this announcement reveals anotner underground
route between tho United States, treasury and the
National City bank, which en loved profitable
privlles during tho administration of Lyman J.
Gage and afterward made Mr. Gage president of
the United States Trust company with his as
sistant F. A. Vanderlip, vice-president of tho Na
tlonal City bank itself.
ACCORDING TO OFFICIAL8 of national banks
In New York, the National City bank for
two wpoks prior to Secretary Shaw's formal an
nouncement had been, buvlng short-term 4 per
cents from national banks, offering a sllcht
premium above tho market pr'ce, which enabled
it to accumulate mllHons of tho bonds from tho
unsuspecting holders and at tbe same time It has
been selling Its 2 per cmts at the market price.
About ten davs ai'o the 2 per cents sold at 104,
-but when Secretary Shaw's circular reached Wall
street thev dropped to 103i asked. 103 bid, and
there was a o.rfrr-snondlng rlso In tho 4 per cents,
so that tbe National City bank has made a round
profit alroadv on the anecnlatfon, and will mae
a ptlll further nroflt on tho refund'ng transaction,
poforrlng to ttrnsp facts, the World savs: "This
d'sc.overv has caupd a frreat dftal of Indjenatton
anions? the national bankers, who fav that thre
is a leak In the office of the secretary of he
trnasurv. and that It leads direct to tho National
City bank."
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