The Washington times. [volume] (Washington [D.C.]) 1902-1939, 1908-11-28
CARNE GIE'S POLICY
SCORED BY BROKER
Points Out Danger in With
drawing High Tariff
on Steels.
CONTINUED from First Page)

Continued from First Page.)
in restraint Of trade viii ultimately set
tie the trust problem. chiefly because
trusts are so excessively @apitshzed. It
, may be necessary also 10 regulate bank
/ ing as to insure that small producers
/ can borrow money at the same rates
/ paid by trusts. and 10 limit the monop-
/ oily Of raw materials.
Solution of Problem.
THE trust problem will be worked
I out gradually and sa sfactorily to the
people and 10 such e. SITS as are salts
1 fed with reasonable offs. unless Mr.
/ Carnegies plan 10 al 5lish the protec-
| tive tariff is adopted. II this plan is
/ adopted, the trusts Ia their most OF
| iensive and oppressive form will be
fostered upon The people forever. For
/ they no longer would be endangered by
I the starting Of Independent plants. The
constant menace OF competition with
products made abroad with cheap for
eign labor would scare independent capt
/ tai from embarking in an enterprise
! threatened on one side by an aggressive
/ trust and on the other By unrestricted
foreign impOrtatiOns. The danger Of
new competing plants being thus re-
moved, the trust would be left free 10
! both lower wages and Increase prices OF
( its products with impunity, for there is
no means known to the law to force
( Them TO maintain wages or reduce
Z prices
In case of a strike. the international
trust would produce In its mills abroad
and ship here, closing the American
/ plants until labor Is starved into sub
mission.
TO protect itself against foreign i'm
portattons the trust has only 70 interna-
JiOuaiize itself This could be done cas-
! Iy by Offering foreign producers tempta-
/ ton OF greater gains, aided by the spur
/ OF threatened retaliation and c1mpeti-
[ ton abroad by the American trust and
/ the Te-enaCtment Of the high tariff here
In the long run u - safe TO assume
that producers the world over will unite
Tor greater profit.
Dazzling Scheme.
In fact wages here could then be re-
duced so goods could be produced much
cheaper and used abroad 10 whip for
! eign producers into a general combina-
tiOn 10 plumber with excessive prices the
consumers Of the world. It IS a dazzling
scheme, such as the genius OF modern
finance is capable OF conserving and ex-
ecuting. and is wholly practicable.
There is some induceInent to them
I IN the fact that the international trust
would largely be- beyond the reach OF
our antitrust and other laws.
-Four years ago in an address. and
/ recently I'm the Magnet, 1 pointed out
the probability and danger of interna-
I tional trusts ard abolition OF the Do
1 lection policy as a means OF further
I trust aggraudizemeut and for tighten
/ ihA upon the people the screws of trust
monopoly and attendant financial and
political domination. Since then the iron
ana steel men Jr the United States and
/ tGose or europe have held meetings
[ abroad which seem clearly 10 fore
I shadow the ultimate creation or a %
santic international trust TO control t6e
central IRON and steel industry of the
entire world.
Whether Mr.. Carnegie was chosen to
4IduAufate benFnCient phiIanthroDv
Z the one thing EseNsd to make the inter-
laHoiial trust practicable or possible or
p" hetAef providence moved him TO so
I speak on his own account In an limo
I cehce as 20 the ultimate effect upon 'rba
American working man and uroducers
s-asrally, ] 90 not know
doubtless Il vas the latter for NJ
arm gle Is an excellent gentleman who
mas done many patriotic acts but q
{ Is time for the American Dao,1s - =,
{ look, stop, Hsteni' before taking "a -e+sr,
or such possible danger TO their wei
To Avoid Pitfalls.
IaTln reduction and reimbursement IS
due and right Il should be thorough.
honest, and unseldsh. How 10 do Il and
avoid the perils, IS Q problem that will
tax the wisdom and patriotism OF Con
gress TO the utmost.
"A billion dollars Is needed by tho
Government 5or the Improvement on
construction Of natural and artificial
I waterways And other billions will be
needed as time goes on such a tay
on interstate commerce would Yield II
without appreciabIs harm either To
producers or consumers And the pub
/ lie Improvements IT would enable, and
the general progress and prosperity
such improvements would cause would
4 certainly Offset any such burden IL
this plan should be considered wiser
! than to let down the bars TO all the
evils mentioned and to the uncertain
menace Of COmpetitiOn with Asiatic
. labor at Is cents a day, some practicable
and legal plan doubtless can be devised
by Congress for putting IL into the
effect
Surely American working men and
producers. that are not members Of
such trusts as are seeking by interna-
tiOnal action to rid themselves OF all
responsibility and accountability TO the
peoples laws. while they enjoy the
COuntry's rich markets, will prefer such
interstate commerce tax to the uncer-
tainty and dangers incident TO de-
structiye protective tariff policy
"NaTv Tpgnpctfully yours.