Rensselaer Semi-Weekly Republican, Volume 35, Number 16, Rensselaer, Jasper County, 24 October 1902 — A Democratic Product [ARTICLE]

A Democratic Product

When the Democrats abuse J. P. Morgan they forget that he is a Democratic production. Under the operation of the Wilson tariff President Cleveland, in a time of profound peace, was compelled to issue national bonds to the extent of >262,000,000 in order to meet the current expenses of government (a situation that should be compared with the present healthy condition of the treasury). These government bonds were sold at a discount to a syndicate of bankers organized for the purpose lot handling them abroad, and Morgan is the man who formed the syndicate -nd made an enormous profit JB the deal. _ That was the operation that 6roiightlif>r~ into prominence as a financier of na tlonal notoriety and set him on the road he has since been traveling. He did not handle the Spanish war loan, by the way. for that was sold at a premium to small American investors and was subscribed twice over by persona eager to buy.—Laporte Herald. • ,<p