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Life, 1913-03-06 · page 66 of 72

Life — March 6, 1913 — page 66: what you’re looking at

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Life — March 6, 1913 — page 66: Life, 1913-03-06

What you’re looking at

This page satirizes J.P. Morgan's congressional testimony about the 1907 financial panic. The "investigation" dialogue mocks Morgan's evasiveness and arrogance through absurdist questioning: the Chairman asks about his "artistic temperament," a market drop caused by the Khedive of Egypt, and whether nude paintings in Morgan's possession constitute market manipulation. The satire's point: Morgan's vast wealth and influence over markets are beyond rational scrutiny or accountability. His counsel repeatedly objects; Morgan dismisses public concerns, claiming Wall Street needs no justification beyond self-interest. The setup ridicules how the wealthy deflect serious financial oversight with non-answers. The humor relies on readers' awareness of Morgan's actual 1912 testimony before Congress regarding financial concentration and his unapologetic dominance of American banking.

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Machine-transcribed from the original scan — historical spelling and the odd misread are preserved.

as Wall Street Investigation I LovE To EVINRUDE The committee ing Wall Stre call it Evinruding; this gliding along through the water in under examination, Mr. J. P. Morga a motor driven rowboat and when I hang this portable motor was called to the stand. , over the stern of any rowboat (it attaches in less than one minute) and skim up the river or lake at an 8 mile pace, I Chairman—Mr. Morgan, we have u a gan, we feel that Lam having a real summer. ‘The report that you possess an artistic tem- dil perament. What have you to say on Bo ss 35 that point? | a Z < a iss ‘organ—I don't remember. DETACHABLE ~ Mr. Morgan—I don't remember: DETACHABLE = is not cranked as other motors are; one simply there was a report that the market had sves tie fy wheel a swifig and the weedless pro. reacted three-cighths of a point on the peller drives the boat along for hours and hours, anywhere. news dat tle Khedive-of Evapt lia This motorweizhs but 50 Ibs., developstwo full horse power, is reversible and above all carries case just like asatchel. Anyone can operate it. Chairman—On April 23 of last year passed a restless night. What influ- ence. if any, did this have on the cir- cumference of the com belt? ] It Has Been Adopted by Four Governments Mr. Morgan's Counsel—i object. and is used extensively in the fishing industry as it runs in both salt and fresh water. “The illustrated catalog which we will send to you on request shows the motor in use in different parts of the the basis of that report you deliberate- world. Write for a copy. ly attempted to corner the market in : EVINRUDE MOTOR CO., mnWhOntes Ws. Mr. Morgan—The price of Rem- ‘oat Manufacturers : Chairman—Is it not a fact that on Rembrandts, brandts is governed by the law of sup- caRnies LiKe & Chairman—Do you care to explain SATCHEL. ply and demand. to the committee the damaging fact =- at you have pictures of the nude in that you have pictur ee i should come out with a vicious edi- your possession ? ‘ torial declaring that rich men. should Mr. Morgan's Counsel—I object on ae he denounced when they are in the the ground of indecency. S = wrong and encouraged when they are Chairman—Do you think that Wall ‘ 3) in the right? Street bears a close relation to current ‘ : Mr. Morgan—The effect of such a literature? subversive statement would be easy to Mr. Morgan—I do. Without litera LOOK—A Water Proofed Cloth Alpine ! prophesy. If the market did not re- AN Natere ba leant the od win ture Wall Street could not survive a ’ " i main stationary it would be fortnight ‘ . ° mj . charge by either the bulls or the bears. Chairman—Well, then, what would it Chairman—Do you think that Wall be the effect if Mr. Lyman Abbott Street performs any real social serv. in ice? yeu dent like It, Orie nsw. Write for Mr. Morgan—How can you ask such a question! Wall Street is not for the purpose of performing services. but of having services performed for it Chairman—Then what is the matter with Wall Street? ‘That's what we are trying to find out ° Mr. Morgan—There is nothing the oO »% OU PIN matter with Wall Street. The matter | is with the public, ‘The public, not un- derstanding that brokers are high livers, do not buy and. sell enough b) stocks to provide the wherewithal Chairman—Do you think that Wall Street can come hack? Mr. Morgan's Counsel—I object The usta rrived, the or just whiskey? ee Youne Max: You don't remember me I see. Iam the young man who cloped with your daughter a few years ag Ou Max: Well, what ean I do for you? Youne Max: I came back to offer you my congratulations, sir. —Poston Transcript. ‘The Gibson Distilling Company, Philadelphia, Pa. comicbooks.com