The Washington times., 1911-11-29
B|GCONSOL|DAT|ONS
AID COUNTRY, GARY
TELLS COMMITTEE
Steel Trust Head Renews
Plea for Federal Con-
troll of Prices.

Declaring that the big consultations
are benefit to the country, and holding
that their benefits should be preserved,
and at the same time the public protect
ed from any wrong that might be in
nicted By great capital, Judge e. H.
Gery. chairman Of the executive COM
mittee Of the United States Steel Cor
poration. gave his views on the corpora
uon problem today before the Senate
COMMITTEE on Interstate Commerce.
Judge Gary, as he has done In the past,
pronounced In favor of consolidation un-
der strict Federal regulation, even to
the extent Of fixing prices.
Pointing out that he had sometimes
been accused OF radicalism in his Views
on this question, and that his views had
peen attacked as socialistic, Judge Gary
declared that Government regulation
such as he proposed was the way to
sy9,a % .1 she dangers Of extreme socialism;
OF putting the corporation problem on
some definite and understandable basis
he held that the business OF the country
- now sunerlng from uncertainty.
Calls Them Benefit.
Judge Gary said tho great consoli-
dations were benefit ir various ways
BY their large resources. he said. they
were able 70 bring about development
OF foreign trade to an extont impossi-
BILE for small concerns. BY reason Of
their resources they were able to do
mucn nnI In IN research and In discovery Of
not DO; they effected economies and
conserved resources. and they had done
much more to improve the condition Of
tns t,n workingman than small corpora
serted. the big consultations had trans
lerred ownership OF property from a
lew hands to many. He cited the case
owners OF stocks and bonds, as an ex-
ample.
Outlines His Plan. .
Judge Gary outlined his plan Of regu-
lation. He proposed that every corpo-
ration should be compelled to take out
Federal license, and that these H.
censes should require publicity, no
overcapitalization, that prices be the
same to all customers without discrimi-
nation, and that the corporation be con-
Quoted in accordance with law, IL
other requirements were needed. they
should be enforced.
Second, Judge Gary proposeS a COM
IKE the Interstate Commerce Commits
sion. This commission should have
power to see that license conditions are
opoerVeo; 10 decide questions submit
ted BY managers Of corporations as to
whether they are in conformity with
law. and to regulate prices 90 far as il
necessary to prevent monopoly of trade.
This PLAN" he said, would result in
fair. honest, and healthy competition. II
the opposite of restraint of trade.
Unrestrained competition in the end re-
suits in restraint OF trade"
He then dwolt on the doubt felt by
"These men," he said, have felt great
doubt in the last several months. Capt.
talists have been unwilling to make ex-
tensions. This country has been suffer-
Ing and is suffering much today be-
cause Of this feeling of uncertainty.
These men would like to know whsr
they have the right to do"
he declared that the corporation was
striving in all lines TO get the best re-
suits, at the lowest cost, and at the
same time 70 take care Of employees.
One Of the mort important questions
pending in this or any other country. .
he said, ''is how to protect the public
against the oppression OF great capital.