New-York tribune., 1911-01-15
Anglo-American Memories
,,e ANDREW CARNEGIE AND HIS DEAL MR. pERPoNT
,coprrIsh.. lplo. b esorgo W. smaIley /, /.

7 those on which his immense fame is
/ built. There have been suppose. mo-
ments In the history of the United States
Steel Corporation when the outside world
or shall I say Wall Street?-considered
that Mr.. Carnegie had the best OF this
deal. Fleeting moments which now "e-
long to history and connect themselves
with many outside circumstances.
There was, at any rate, as l talked
with Mr. Carnegie. no sign of exultation
in the sense Of having got the better OF
Mr. Morgan. These two Great Powers
had met and made a treaty; q treaty
which involved neither surrender nor dis
credit There are such treaties. Frank
lin prone to epigrams and proud of his
diplomacy. said in his letter TO Josiah
Quincy. There never was a good war or
a bad peace But that is professional
opinion-the sort Of thing that Mr..
Bright also used To say: not an historical
statement, but pious aspiration. Mr..
Bright was less sweeping than Franklin.
He said 10 me:
There has been no just war since
William III except your War for the
Union. and tha. was forced on you
In Franklin's mind lurlxed the thought
that peace and not war was the work
and the object Of diplomacy, But 1t is
by no means always so.
Mr.. Carnegie continued:
Il take bonds in payment; ) per cent
D = "a
/ Of an the seven corporations lafterward
eight which merge in the Steel Cor
poratlon I think I know pretty we'll
what thev are all worth. and II there's
a better security anywhere than my
( mortgage Will be I don't know where"
Luncheon was over before Mr.. car
negie had finished his talk, and whiskey
was served as a liqueur which l de-
clined but was not allowed TO.
Il thought YOU had tasted il before,
bat. Of course, you have not. or you
would not refuse. Dewar sends me
private supply every year out OF his pri-
vate cnsk. the age of which you can
never tell because IL Is replenished yearly
all there II room for--with the best and
next Oldest whiskey The cask is never
empty and never fun.'
But that is what the sherry wine
growers go with their stock Of mother
sherry
Never mind about the sherry 7 am
scot-hman. and whlskey Is the wine Of
mv country Drink it,
That IS hut one more expression of Mr..
Carnegie anectionate pride in his
native land.
no uar boz noted that one ot the parties
ta thIs great bargain was q man ~ Wall
street Mr.. Carnegie. OF course. Is not,
ana Dec ls sometimes quoted as not liking
wan street ar its methods. have heard
him wr.
"Hnng mo vogr money and will give
Hrg r.r cent flr .t Don't speculate.
have mover bought a share ~ stock FOR
the rise nor sold '1r the fau r. Is an
agreement with my partners that no one
of them shall speculate"
so u is evident he ls not n prepos-
ssgsed vituess in favor ~ any II the
wall street g~oup But when 7 said 70
him. you trust Morgans word" he an
sv erred
yes but Morgan In Morgan
And uorhuus even Mr Roosevelt who
admits. or did admit. that there arc good
trusts as well az bad trusts would ad-
nit or would once have admitted, that
there are men In Wall street 20 whom
honor and good faith and business prob
ity mean what they mean 20 men else
where
Il was evident that uuch " what Mr..
Carnegie said TO me was intended 20 be
cabled 20 "The Times" CLondonl, and
that some Of il was not meant to be
was equally evident When I said so TO
him ne answered in almost the very
words Prince Bismarck had used in sim
liar circumstances:
1T is for you 20 distinguish"
But as this was a matter of business
and figures. I said to Mr.. Carnegie I
would send him copy of my dispatch 10
look at before il went. l sent IL at
o'clock by messenger, asking him to let
me have II before 6, the hour at which. as
q rule, long dispatches to London had to
be fled, 6 in New York being IL at night
In London. II came back at 4:30, with
an inscription at the bottom:
90. K.-A. c."
Which I thought so interesting that 1
kept the original and handed a copy TO
the cable messenger. And 1 imagine
there has seldom been a business dis
patch which has so stirred the business
world Of London as this account Of the
great treaty between Mr.. Morgan and
Mr.. Carnegie. @. w. s.