Bluefield evening leader. [volume] (Bluefield, W. Va.) 1906-1911, 1908-11-30
SAYS THE IRON
KING PLANS
MASTER TRUST
CROZIER DECLARES WORLD
WIDE MONOPOLY Is SCHEME
or CARNEGIE.

New York. Nov. 30.--with aston
'shing direcsness and circumspec
attention to specifications, ALFRED o
Crozler. of w lmington. Delaware
whose letter to President Roosevelt
pubS shed exclusively by the United
Press, sealed the doom or Il. Cole
man Dupont. shief OF the Republican
national committees speakers bu.
reau, has hung out danger signals
along Andrew Carneg.e's line of re.
treat from his former position as
an advocate OF a prob bitlon tarifl
on steel.
The letter, which ts couched In
the most conservative language. re.
counts the growth OF the United
States Steel corporation and points
out with definiteness a logical reas-
on for the reversal of the steel
magnate's policy.
That Andrew Carnegie. with char
acterist!c itres gh6. has perfected
an internat onal steel trust. remov-
ing all fear OF differences from eth
er friendly or malicious tariff link.
er.ng. Mr.. Crozier Is certain. The
removal OF tarin from steel would
only enable the International organ
ization, which will supplant the
United States corporation, to dom
inate the situation from an impreg-
nable stronghold that the indepen-
dent manufacturer may never hope
to assail.
Prefacing the principal commun.-
cation 10 Gereno IL. Payne, chair
man OF the committee on ways and
means. who is conducting the tariff
hear ngs at Washington, with the
statement that he will be unable to
attend the sessions of che commfssee
Mr.. Crozier rps the veil of an
amazing situation in the following
words:
THRUS4 AT THE HEART.
Andrew Carneg'e's declaration in
VI a NOluDittG dUOlll VII vi
the protective policy so far as iron
and steel is concerned, substituting
a mere revenue tariff, IS a thrust
at tie heart of the entire pro ection
schems. For IL his position $ true
as % iron and stee', 1t is true as
to a great many other Industries.
1t raises the most dangerous and
difficult tuat!on in the history of
tariff legislation. 1t seems to put
Mr. Carnegie on the side OF the peo
pie and agains. the trusts, while
those who oppose his propoS lion
may be accused of favoring trusts
at the expense OF the people. But
this Is a superfic al view. Whether
so intended by Mr.. Carnegie or not.
no more clever plan could be devils
ed to permanently entrench 1he
steel trust in absolute control of
the iron and steel business OF the
United States. Incidentally, every
one of Us nearly two hundred thous
and employees and the one million or
more wives and children dependent
upon them would forever and CON
stantly b--at the mercy OF the Wall
street managers OF that trust.
They would be obliged TO submit.
to any terms as to wages and hours
imposed by the corporation with no
possible way Of escape
Trusts are al over capitalized
They must charge high prices to pay
dividends on such excessive capital
zation. The one menace to trust
supremacy is establishment Of new
competing industries.
COMPETITION EASY.
ut is wei known that other things
be ng equal, a corporation with ac-
;ual capital equal to one-third the
total OF the stocks and bonds Of
the United States Steel corporation
could easily handle the same l.
ume of business done by that trust.
When the trust maintains high
prices that will yield a profit on its
enormous total securlt es, capital 10
tempted to start inde-
pendent plants. This can be done
over and over, forcing the trust to
buy them out at high prices, except
when, as wi;h the Tennessee Coal
e Iron Providence or other Wal
street con- rolled agencies sends a
panic to the ala &C the trusts IN
their process Of benevolent compe-
/ tion. For It Is wholly impossible
for the big trust to cut prices on
its entire output 20 crush an tnde-
pendent plant with comparatively
small output.
The ,Tgid enforcement OF strin-
gent laws against rebates and spe-
ciai transportation advantages and
corporal ons in restraint OF trade
W. III ultimately settle truefq are So