1917: J.P. Morgan bought US corporate media to be 1%’s lying sacks of spin?

Congressman Oscar Callaway lost his Congressional election for opposing US entry into WW 1. Before he left office, he demanded investigation into JP Morgan & Co for purchasing control over America’s leading 25 newspapers in order to propagandize US public opinion in favor of his corporate and banking interests, including profits from US participation in the war. Mr. Callaway alleged he had the evidence to prove Morgan associates were working as editors to select and edit articles, with the press receiving monthly payments for their allegiance to Morgan.
 One of the leading papers, The New York Times, printed the story (see it here) of Congressman Callaway's call for investigation from Washington, D.C., but the editor chose a curious obfuscating headline: Moore Asks Inquiry Into Charges on Preparedness Campaign.