Evening times-Republican. [volume] (Marshalltown, Iowa) 1890-1923, 1901-12-13
MAY WITHDRAW GIFT
carneeie's University PROPOSE
ton May Embarrass the
Administration.
Gifts is in Bonds of the Steel
Trust and May Not Be
Accepted.
Would Place Government in Po'
sition Of Holder Of Steel
Company's Bonds.

SVAAp0Ay - DVAOSs
| Washington, Dec. 13.-Andrew Carne-
gie's letter to the president proposing to
contribute s10,00O,00O for higher educa-
| ton may never be made public. The
| offer of the ironmaster is embarrassing
and he may be requested to withdraw It.
President Roosevelt is in no way re-
sponsible for the publicity given to this
| proposition, and 1t has been his purpose
to keep it from the public until an
agreement could be reached for it's dis
position. The president has consulted
with number of republican senators
and representatives as to what should
be done with Carnegies proposition. Iii
the ordinary course it would be sent to
congress. But in this case there might
result long and acrimonious discussion
which would embarrass not only Carne-
gle but the president.
The proposition is unique. In one par
ticular it has even the appearance of
being suspicious to some of those who
have read the letter. Carnegie does not
offer to contribute $10,000,000 in money
or in government bonds, but in the
bonds of the United States Steel Corpo-
ration. The United States government is
asked to become the trustee of these
bonds of the steel trust, and to degree
become responsible for the maintenance
of their value. The bonds may increase
in value Or they may decrease so that
the trust will dissolve. In that event
these bonds would be practically value
less. The government may find that the
steel trust is organized so as to conflict
with the antitrust law. 1t may have to
proceed against the corporation III the
courts. In that event it would be very
embarrassing to the government to be
found among the bondholders of the cor
poration.
Had Pierpont Morgan or Schwab
made such an offer to the government 1t
would have been regarded with suspi-
cion. Carnegie's benefactions have
placed him above suspicion, but for that
very reason his offer is more embar-
RAISING because the president does not
know how to accept it, and since 1t has
been made public hesitates to ask Car
negie to withdraw it. But that is the
only way out OF the embarrassment as
some Of the presidents advisers look at
1t.
The president has had number OF
conferences with republican leaders In
the house and senate this week. He has
laid before them Carnegie's proposition
and asked their oponions Some Of them
~, ~ 1,x. ~ ted
to withdraw his offer. They do not wish
TO offend him, but they think that his
withdrawal would be better than the
open rejection of the offer by congress.
Should the letter be sent to congress
there would inevitably follow much dis
cussion and there would be demagogic
attacks upon both Carnegie and the
president for this appearance of part
nership between the government and
the steel trust
The proposition is regarded as i'll adj
vised from every point OF view. 1t is
already rumored that those who organ
lied the steel trust encouraged Carne-
gle to make this proposition for the eff
feet that education so endowed would
have upon college professors and others
who benefited by it. Those professors
who have shown tendency to criticise
the trust would, in the event Of the
governments use Of trust funds, have
continuous object lesson of the benefits
of trust.
But apart from the trust feature OF
the offer the proposition is considered as
unwise. There has for many years been
g. discussion of the proposition to es-
Nv President
Washington recommended it, and so
have other great men, but public senti-
ment has never been aroused to warrant
the government in taking hold OF such
an enterprise. It has had more critics
than advocates even among college men.
The government of the United States
is amply able to establish such uni
yersity and maintain 1t on magnifi-
cent scale, whenever public policy and
public sentiment point to such legisla-
ton. There is no occasion for the gov.
eminent becoming the beneficiary OF
any Individual, however great his
wealth or sincere his patriotism. BY
some it is considered dangerous
proposition that the government should
become the beneficiary Of any individ-
ual or corporation.
Those who have advised the presi-
dent in this way suggest that Carnegie
should follow time-honored precedents
in using his wealth for the endowment
of educational institutions. He is not
the first man to propose princely gifts
for the endowment of colleges, but he
is the first man to request the govern
ment of the United States to become
the trustee of his endowment funds.
Senator Stanford endowed and built
the stanford University of California.
it property valued at $3O,000,000. Mrs.
Hearst has endowed the State Uniyer-
sity of California and Rockefeller has
made princely gifts to the Chicago uni
versity. They have simply followed the
precedents not only established in this
country but turnout the world in the
endowment of institutions. The ques
ton is asked why Carnegie has not
followed these presidents. In not do
ing so, but in making his offer to the
government, he is in danger of bring
ing up serious question in congress
leading to the discussion of the rela-
tionship between the government and
private corporations.
The republicans who most seriously
object to any consideration being given
to Carnegie's offer are those who regret
most that there has been any public
discussion of that offer. They are
f,;a NJ ~, rroofa and fhoxr would {y,