Search America's historic newspaper pages from 1789-1949 or use the U.S. Newspaper Directory to find information about American newspapers published between 1690-present. Chronicling America is sponsored jointly by the
National Endowment for the Humanities and the Library of Congress. external link Learn more
Image provided by: University of Illinois at Urbana-Champaign Library, Urbana, IL
Newspaper Page Text
MAYBE THIS IS WHY MORGAN AND ROCKE
FELLER BANKERS CALLED REPORT "ROT"
Why the big Morgan and Rocke
feller bankers of Chicago said the
Manly-Walsh report of the U. S. in
dustrial relations commission is "rot"
and "uncalled-for" "may be in these
facts from the report:
"Lives of millions of wage earners
are subject to the dictation of a rela
tively small number of men.
"Corporations controlled by six
financial groups and affiliated inter
ests employ 2,651,684 wage earners
and have total capitalization of $19,
875,200,000. These six groups con
trol 28 per cent of the total number
of wage earners covered by our inves
tigation. The Morgan-First National
bank group alone controls corpora
tions employing 785,499 wage earn
ers. That this control is effective Is
shown by the following telegram
from J. P. Morgan to E. H. Gary:
" 'Aix les Bains.
" E. H. Gary, New York Have re
ceived your cable of yesterday. My
own views are in accordance with
those of the financial committee in
New York. Certainly until question
of wages has been settled by the coal
and railroads, which still in abeyance
but settlement seems imminent
Whole question wages should be set
tled simultaneously by all interests if
possible. Going Paris Wednesday.
Will see there H. C. P., P. A. B. W..
and will cable you result of interview.
If possible and meets your approval
think better wait until after inter
view. Perfectly delightful here.
Weather superb. J. P. M.
"Control is being extended through
enormous privately-managed funds
designated 'foundations,' by endow
ment of colleges and universities, by
creation of funds for pensioning
teachers, by contributions to private
charities', as well as controlling or in
fluencing the public press.
"Rockefeller and Carnegie founda
tions have funds amounting to at
least $250,000,000, with annual reve-
nue of $13,500,000, which is at least
twice the federal government sums
for education and social service.
"These foundations are exempt
from taxation, yet during the lives of
the founders are subject to their dic
tation for any purpose other than
"Control of these funds has been
widely published as being in the
hands of eminent educators and pub
lic-spirited citizens. In the case of
the Rockefeller foundations, not
only is control in the hands of Mr.
John D. Rockefeller, Jr., and two of
the members of the personal staff of
Mr. John D. Rockefeller, Sr., who
constitute the finance committee, but
the majority of the trustees of the
funds are salaried employes of Mr.
Rockefeller or the foundations, sub
ject to personal dictation and may be
removed at any moment
"The funds of these foundations
are largely invested in the securities
of corporations dominant in Amer
"The funds represent largely the
results either of the exploitation of
American workers through the pay
ment of low wages or the exploita
tion of the American public through
the exaction of high prices. The
funds, therefore, by every right, be
long to the American people."
A GREAT IDEA
"How will you have your eggs
cookjd?" asked the waiter.
"Make any difference in the cost
of 'em?" inquired the cautious cus
tomer with the brimless hat and the
"Then cook them 'on top of a slice
A London report says the Russia!
will soon take the offensive. If
don't the Germans will soon take