later there were fifty thousand of them. I wish to point out,” said
Rochette, “that my enterprises existed and did well before my arrest,
and continue to exist after it and in spite of it. I venture to state
positively that very few financiers who suffered as I have could make
the same statement. The net result of my arrest was the heavy drop of
the shares of my enterprises, a loss of £240,000 by the Crédit Minier,
and the ruin of shareholders whom the _krach_ caught unawares. Of
the £240,000 which the Crédit Minier lost, certain speculators made
£160,000, and £80,000 went to the expenses of the bankruptcy. The
liquidator alone was paid between £12,000 and £16,000.”
Rochette told the Commission of Inquiry that he had intended taking
charge of the _Petit Journal_, as he had taken control in the _krach_
of the Say sugar refinery. He was, at that time, endeavouring to get
hold of the concession of the Paris Omnibus Company and was backing up
the Darracq group with money so that Monsieur Darracq could obtain the
concession from the Municipal Council. Monsieur Rochette, questioned
very closely by the members of the Commission, was forced to admit
that one of his lawyers, Monsieur Rabier (one of the stalwarts of the
Caillaux party in Parliament), drew about £500 a year for legal advice,
and on other occasions received sums varying from £2800 to £3200. The
members of the Commission expressed doubt about these figures, and a
curious story was told by a former clerk of Rochette’s with regard to
his book-keeping methods.
From this story it appeared that efforts were usually made by Rochette
to conceal the real amounts which were paid for their services to
newspapers and to those lawyers in the employ of the financier who
happened to be members of Parliament or political personages. Curiously
enough most of Rochette’s lawyers happened to be political personages,
and one of the lawyers of the Crédit Minier was Monsieur René Renoult,
who is a member of the present Cabinet. In many ways the examination
of Rochette by the Parliamentary Commission was an eye-opener to the
public. Accusations of venality on the part of public men are so common
in France, owing to the licence allowed in the Press, that such words
as “corruption,” “theft,” “lying” and the like have almost lost their
force when applied to men in the van of politics. But the details of
the manner in which Rochette conducted his business impressed and
alarmed the public by their unpleasant likeness to the unsavoury
details of the Panama case.
Public-domain text, read in full here on John Shaqi.
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