The Washington herald., 1911-10-15

When the list was read in the House of
Commons a member arose and asked: Is
not bread in the number"
No doubt monopolists in Elizabeth s
day hastened to inform the people of
England that the marvellous development
OF business had forever changed the prim-
ltive laws of trade. II was their interest
to do so. We hear the same folderol now.
But under King William a merchant,
having built a free ship to sail 1t where
he willed, appeared before the bar OF
Parliament and said: Tt is no sin that I
know of, to trade with India, and shall
trade with India Thus Elizabeth's ship
ping trust went to pieces The English
monarchy, you see, couldn't make laws;
that was the business of Parliament
Take the harvester trust as modern
and an American example of how COM
petition can be arrested. ! can mention
1t and speak plainly because I am not
to judge its case. 1t controls absolutely
the manufacture and sale of mowers,
reapers, and binders. 1t brought num-
Der of competing concerns into a single
huge and commanding association.
Break II up into its original units, how
ever, and competition will begin again.
Supply and demand will become oper-
ative once more. Outside men, assured
of an opportunity. will fight for a mar
ket that is now walled in. The nub Of
the whole question Is: Does this cor
poration or that restrain trade? Re
strain means to hold back, hold in,
check, or confine. When there is no re-
straint, there is competition. Economic
laws resume their operation. Restraint,
therefore. Is abnormal; a sort of loco
motor ataxia that cripples general busi-
ness"
THE men who organized the steel cor
poration." I said, received many mill
lions of dollars for their toll and
genius"
NO one not within their cheerful circle
will ever know how much. Some rough
figures however. have come out in the
testimony regarding Mr.. Carnegie's
share He is phenomenal man, as
gifted in his way as were Milton and
Byron in literature. and Newton and
Kepler in science. Besides, he had Ma
poleonic ability in choosing engineers,
chemists. and manufacturers. telling
those who proved their merit that he
would sell them S1,0O0O00 of stock in his
company. | be paid for out of the divi-
dends to declared in the future. II
they fall af.erward in any particular,
he gave them the book value OF their
shares and brought their relations with
him to a close. The stan he thus Gre
ated was the ablest in the whole world,
and, By the measures he adopted, was
always under his finger.
The Money that Carnegie Made.
Our witnesses have shown that Mr.
Carnegie meant to broaden his lines. to
make almost everything in iron and
steel Competing with him and his sea-
soned captains were lot of raw re-
cruits. His purpose to extend his busi-
rrss In all directions occasioned great
alarm. 1t about that time the actual
worth Of his physical property was SG,
900, 600. Henry c. Frick. one of his part
neIs, obtained a limited option for its
purchase on a valuation OF slGO. )0O. co.
When Mr. Carnegie sold out TO the United
States Steel Corporation he received
$500 OOO, COO in bonds and shares. Julius
Caesar never conducted a more brilliant
campaign
What. in your op!r ion, brought about
the business depression Of 1902
1T was worked up to scare President
Roosevelt and to eliminate certain bank
ers in New York. The conspIrators IN
tended TO start a painful stringency. In
stead. they caused fearful panic"
Regardless of Martin Littleton's unique
expression. Stanley's eyes are round and
brown, and neither terrible nor foxy. He
! an oval-faced man of foTtyfour, and
e. Vars a resemblance in some respects