. n r" V. ff'
J'
tfrf
rtWV
The Commoner.
VOLUME 13, NUMBER 1
rfy""
il
The Commoner.
ISSUED WEEKLY
'!
faa a . . . .. OT .. . V .. MklA II 1 n
i'f rcntcrcu ai mo i'ohiohico k imcum. ,..,
' fipcond-olnftn matter
(.'HAULM U. 1 nvAn
PubHMtnr
J-illlorlnl Jtootn and Itunlnrw
On co, iJM-MO t-otilli Uth Htrrrt
OILMAN .1. I ItYAH
Kdltor nml Proprietor
i. fljCJlAIU) L. Ml'CAM'K
Amitlnl Fdltor
N
One Vcnr fl.O
t Mil; MiimIIim Jltt
.In Cluba af Flvo or
more, per year.. .75
TJiree BIobIUh. . ... . -
sIhkIc Ciipr..... ..
Sample Coplon Froo.
Foreign Pont, C2c Extra.
,
gUIISOUII'TIONH can be uont direct to The Com
inonor. Thoy can alno bo Bent tlirouKh nowspapcra
Which have advertised a clubbing rate, cr througn
IntRl agents, wlioro nub-aKentn liavo been ap
pointed. All remlttancea nliould bo uont by post
ofneo monoy order, exprcio order, or by bank urau
on Now York or Chicago. Do not end Individual
checkfl, Rtatnpfl or money
OIIANCUQ OF ADimiCSSBubBcrlbcru requesting
a change of addrcao must give old as well as new
fcddreno.
AddrcoH all communications to
THE COMMONER, Lincoln, Neb.
U.nnl riM.nl iriftfn wnlfrlit flHncllOH to 1U1
!, article written by Mr. Bryan than to the opinion
nf nnip nliii. nilllnf tn 1 Wl nnillllrV Ifl RlimlV IlOt
''. that gentleman's fault. It his voico la potent
throughout tno mnu it ia necauso a iiubo buuuuh
of tlio people tniBt him, while one element fears
'. him. And the olomont fearing him is composed
f:', chiofly of thoBo fearing a government of the
.. nn..1n 1.. Mm nnn1t . n A fnn Mm nnnnln
It Is not HiirpriBing that Mr, Bryan Bhould de
claro agaiiiBt leadership by reactionaries in a
democratic congress. Ho opposed such leader
8hip of tho party at Baltlmoro, and against the
protests of gontlomon who lifted their hands in
hnvrnr nf fhr mitrcrnHf Inn of n. fiirht. and cried, aa
' thn 'PlmnM nnw nHnn. fnr n nn no nnd lmrinonv. lift
. raisod a' Btorm. Immediately thereafter tho
atmospnoro in tno party was sweeny pure.
t Th nriinnnl. iliit.v nf rlnmnornf h. In or out. of
p.nnirrnHH. Ir not. to nrotnet thft fnnllntrR of thlfl
f-' ropreaentativo or that senator from being hurt,
or iu Bivu ijiu liruuuuuuia Hunuuuuing uiuii
dignity tho offoct of sacrod laws, or to dread
no tho mil trrouchoa: tlio nreHent dutv of damn-
i. orats in congrcBs is to givo tlio people of the
'. United States tho roliof and nroteotlon thn nartv
' has long promised them; and tho democrats out-
suio or congress snouiu inBist that nothing stand
v in tho way of such porfornmnco of duty.
Mr. Bryan'B BUBCORtlon la not agamai any
'won or group of men, but for tho people tho
party roprosonta. If his suggestion Is not ac-
V.contod by concress ho will exhibit nalthnr
$ "grouch, M bad tomper, nor bad manners.
. . tho nuerenco by tno Times that if Editor
,.,Brynn woro going Into tho president's cabinet
in xviuTcii uo wouiu not, or snouiu not, now ox
press himsolf in his paper on an Important public
question hocauso his expressions oppose tho In-
. t.OrOHtR i 'lOVQl'al mnnitinra nf onnm-naa a n .
, ' markably poor complimont to tho conscience and
"courage, of tho journalistic nrofoRRlon. Onntio.
f mon who oxpoct "harmony" among democrats in
.uio Wilson auiuiniairaiion tnrougn tho operation
!jw vf i tjt, iiuiivj uiu luiuuuuuieu to uisaPuoint-
ninnr.
' ' If tho advocacy of policies not to tho liking
' .of some mon prominent in tho party is to bo
l construed as "a declaration of wnr. nil ninnQM
. tariff roformors and all sincere opponents of
; special privllogos. must bo liininriPfi nmno- ,,
t ;pornlclous disturbers of the peaco. Woodrow
vvubuu iu uiuung tnom.
, Nolthor Mr. Wilson nor Mr. Bryan desiro to
dlSCUBS In Public Whether or nnt TVTv n,,o .iii
bo in tho cabinet and wo lmvn tf
I discussing it. Desirous of having Mr. Bryan soc
f rotary of state, wo nm nniiiv nnMn.i ..At.
U-;Uho situation. But if tho Times will accept tho
word of tho editor of Tho Statn nn infm.,ifi
; wo assuro our contemporary that nothing traus-
, plrlng at tho interview' in Trenton botwepn
; -uovornor vvuson and Mr. Bryan Inspired tho
Al east "war-like" disposition in Mr Bryan o?
- Tii. b , , , i"""""- opposition by him to tho
Wilson admin atrat on. wwiiAM t i- . . 6
5'?lli 4S10 cabii1Gtf Ml'- Bryan will bo a friend of
fc-tlu, Wilson administration. When that con
; jforenco ended recently Mr. Bryan was deeply im
' prossod with the high qualities and purposes Sf
,ftt!M presidont-elect. and h n,ft " l"V!?sea, of
J, .wamer admlrati on for him t nan ewbofow U
S. If this understanding will serve to nliav rim
-.-innrohens on of nnv nnnJ:"..? .a.,Iay tll
?t ryan desisns to mll Mr.
; ration, we beg thaUt accept our BBUilnS? o8'f
: ' ' 7l "BavingTneSa
l -. -.0..w ...... .iv!iii.iv;iv ,
Untermyer's Quiz of Morgan
Readers of Thomas W. Lawson's "Frenzied
Financo" may remember that Mr. Lawson is
authority for tho statement that one of the
chief bugaboos of tho lato Henry H. Rogers life
was dread lest ho might be cross-examined by
Samuel Untermyer. A mightier than Rogers
was on tho witness stand recently a no less
redoubtable personage than J. Pierpont Morgan
and tho skilled hands of Untermyer were
those that wielded the weapon of cross-examination.
This intellectual duel of the great financier
and tho great lawyer might be supposed to create
a situation tense enough to satisfy a craving
for tho sensational.
But tho contest was chivalrously conducted on
both sides. Mr. Untermyer handled his polished
rapier with the deftness which though it scores
does not unnecessarily lacerate. The slashing
saber-play with which Mr. Morgan is sometimes
credited, was held in abeyance. In short, both
mon woro bland, polite and self-possessed. Mr.
Untermyer asked all, the questions ho wanted to
and Mr. Morgan answered them.
Tho hearing was remarkable for its detailed
disclosures of the extent and methods of Mr.
Morgan's financial sway. It was interesting as
a revelation of the Morgan character of Mr.
Morgan's way of looking at things. For
example, as shown in this characteristic inter
change of verbal carte and tierce:
Mr. Untermyer: "When a man has such
vast power "
Mr. Morgan (interrupting): "I don't believe
I havo that."
Mr. Untermyer: "You haven't vast power?"
Mr. Morgan (shaking his head) : "I don't
feel It."
Yet with all the Morgan disclaimer of power,
Mr. Morgan admitted the responsibiity for nam
ing tho entire board of directors of the United
States steel corporation at the time of its
organization, accompanying this with the signi
ficant remark, "Nobody is named against my
protest."
It is natural enough that Mr. Morgan should
feel that he does not possess undue power. That
feeling is a trait common to men of enormous
ambition. Alexander the Great wept because
there were no more woriUo to oonauer. Na
poleon had times of thinking he was "pretty
small pumpkins" when he reflected on the con
quests of Alexander.
Tho evidence showed Mr. Morgan as a builder
ono of the great constructive forces of his
time, in finance, commerce and industry. Up
to now, the testimony contains nothing to prove
that Mr. Morgan has wielded tho immense power
reposed in his hands, other than to upbuild and
develop. Whether, as further testimony is ad
duced, it will show Mr. Morgan in any other
role than the creative and constructive one, re
mains to bo seen. If it does not, Mr. Morgan
and the country have reason to be glad that his
extraordinary financial genius has been exer
cised within legitimate bounds. If on the other
hand, it shall be found that his gifts of organi
zation and execution have exceeded the limits
prescribed by tho public welfare, congress should
act with promptness and vigor. Abilities liko
Mr. Morgan's within wise limitations are ff bene
fit to mankind, but the limitations should be
marked out with strictness and a sound consul
tation of the rights of all. Buffalo (N. Y.)
Times.
THE WALL STREET INQUIRY
Mr. Pierpont Morgan has painted a wonderful
picturo in his testimony before the Pujo com
mittee. It Is a picture more engrossing than any
old master Mr. Morgan owns the picture of a
now master, a master of the mighty processes
that move in this modern world, shaping the
material destinies of nations and their millions
of souls.
Nothing could ho more worthy of the gravest
study than this testimony. While the searching
zeal of Mr. Untermyer and the Pujo committee
has a depressing effect, taken with other factors
upon tho stock maTket, there can be little doubt
that good will come from an airing of Wall
street methods and conditions. Only a blindlv
prejudiced participant in high finance will deny
that there are many things to he corrected in
that region of American activity. To thoughtful
men, not radical or alarmists, throughout tha
country the possibilities Inherent in the
enormous concentration of financial power in
New York have become of grave concern, and a
thorough investigation of conditons is recognized
as timely. . ,, A .. . .
What is equally desirable is that the boat
thought of thd nation should be aroused and
directed to sift the essential facts from the in
essential and to formulate measures of correc
tion which shall he rationally constructive and
not blindly punitive. Some reforms may come
voluntarily from within, though the morale of
high finance Is not as high as the finance..
Others may be imposed by legislation, and these
should operate to cure actual evils without in
jury to that legitimate financial enterprise on a
large scale which is necessary to keep the
United States in the forefront of nations.
Meanwhile In the testimony of Mr. Morgan
we have besides the most authoritative revela
tion ever made of the composition of financial
power In the United States, an intensely dra
matic picture of a mighty financial genius In the
final and climacteric stage of an astonishing
career. The young Morgan, whose unusual
mathematical gifts in college marked him among
his fellows and of whom there is a tradition that
he was invited to take the chair of that science
in a great continental university, has strikingly
fulfilled the promise of his youth in the greatest
arena of achievement known to the world today.
How much of that achievement was or is bene
ficient and how much not, only the judgment of
posterity can determine fully. But of its amaz
ing appeal to the imagination we of Morgan's
own age can testify Chicago Tribune.
THE SHIFTY PIERPONT
The country doesn't see in J. Pierpont Morgan
the picture of Morgan as he paints liimself.
The appearance of this modern Croesus before
the Pujo committee and his testimony discloses
a man of almost inappreciable wealth. His
financial tentacles stretch into every nook and
cranny of the country's finance and business.
With his banks and trust companies, the insur
ance securities and every other form of financial
obligation under his control, he has it in his
power to shake tins nation to its very founda
tion stones, and also to reach across the oceans
and make European thrones tremble should he
threaten them with the financial weapons he
can wield. Yet, if we are to believe him, ho
cares nothing about money; he has no desire- to
control anybody or anything. He declared that
if he possessed tne power- the committee
credited to him he never knew that he pos
sessed it. It is asserted by those who were
present at his examination that in his language
and demeanor during the four hours he was
testifying he was neither sinister nor cynical,
and that if his humility was assumed it was
not possible to detect it.
"I do not want to control anything," he said
with simplicity. "You have very great power,
Mr. Morgan," remarked his questioner. "Have
I? I did not know it." And this appeared, to
be the frank expression of an honest man.
So says one of the ablest correspondents in
the country, who was reporting proceedings he
fore the committee for a great newspaper that
has not been friendly to Morgan or his Interests
If Morgan's humility was not merely a cloak!
if he did not realize when he spoke that he was
the greatest single financial power in the world
if he did not know that he could break banks
and destroy investment and create fortunes at
will and then crumble them in the panics he had
but to crook his finger to bring on, what man
ner of man is he.
,A.nd.yti1wl10 could listen to bis testimony
without believing that he was knowingly wear
ing a guard that was intended to conceal the
real Morgan, and to evade the probing and sig
nificant questions he was' compelled to hear and
answer?
In the first place, he didn't appear before tho
committee as one who had nothing to conceal
and was the harmless and innocent fellow-citizen
his attitude and words asserted. Ho carried
with him to the committee room four of the
greatest lawyers in the country, with the lato
Subscribers to The Commoner who
commenced with tlio first issue of tho
paper should renew their subscriptions
now to avoid tho possibility of missinc
nn issue of the paper. g
0
.
JL
f-
