Mr. Tesla Writes

To the Editor of the Evening Post:

Sir - Many of your readers, like myself, will feel indebted to you for your courageous and telling editorials relating to the investigation of the affairs of J. P. Morgan & Co. You have condemned these unfair proceedings in terms none too strong. Their undignified character is brought into evidence more and more, and it is becoming apparent even to the dullest observer that the honor and reputation of this famous banking house is resting on a foundation as solid as the Rock of Gibraltar. Perhaps it is fortunate that this investigation has been pushed so far, for in these times when confidence is most needed, the Morgans, in meeting these attacks, may be rendering the country service of inestimable value.

The general public has not even a remote idea of the position of this firm as a factor in the development of America. More than any other force, they were instrumental in the furtherance of American interests throughout the world and in the building up of this country's power and prestige. Scores and scores of vast enterprises could not have been carried out but for their financial assistance. They helped Edison in commercializing his inventions and contributed to my own scientific researches with princely generosity. Edison and myself were only two among hundreds of inventors, engineers, artists and scientific men whose work they made possible. They advanced capital when all other doors were closed, stabilized the markets and fought depressions, not half-heartedly like others but with all their energies and resources, and at a peril to themselves. What they have added to national wealth staggers imagination.

I was intimately acquainted with the founder of this great house and know that his spirit is still with his successors. He set the example and they are endeavoring to emulate him with almost religious fervor. Persons worthy of respect can be found everywhere, but I have observed in the House of Morgan a largeness, nobility and firmness of character the like of which is very scarce indeed.

I can only smile when I read of the attempts to find something discreditable in the transactions of J. P. Morgan & Co. Not a hundred of such investigations will ever uncover anything which an unprejudiced judge would not consider strictly honorable, fair, decent and in every way conforming to the high ideals and ethical standards of business. I would be willing to stake my life on it.

NIKOLA TESLA
New York, June 2, 1933