New-York tribune., 1911-11-17
Not MisIed by Steel Men.

This statement is not correct / believed
st the time that the facts in the case were
as represented 10 me on behalf of the Steel
corporation, and my further knowledge
has convinced me that this was true. /
believed at the time that the represent
atves of the Steel Corporation told me the
truth as TO the change that would be
worked in the percentage of the business
which the proposed acquisition would give
the Steel Corporation, and further inquiry
has convinced me that they did so. l was
not msled.
The representatives of the Steel Corpora
tion told me the truth as TO what the effect
OF the action at that time would be, and
any statement that / was misled or that
the representatives of the Steel Corpora
tion did not thus tell me the truth as TO
the facts of the case Is itself not in accord
ance with the truth.
Mr.. Roosevelt reaffirms all that he
said in his statement before the Con-
gressional investigating committee,
again asserts belief in the wisdom and
lropriety OF his attitude while President
toward the Steel Corporation, and says
that it would have been Calamity
from every standpoint" had he failed to
act as he did. He continues:
On page 137 Of the printed report OF the
testimony before the committee will be
ing between himself and Mr. Frick and
Mr.. Root and myself. This account states
tho facts accurately. II has been alleged
that the purchase by the Steel Corporation
Of the property of the Tennessee Coal and
Iron Company gave the Steel Corporation
practically monopoly Of the Southern
iron ores-that is Of the iron ores south
OF the Potomac and the Ohio.
My information, which have every
reason to believe Is accurate and not sue
cessfully to be challenged is that of these
Southern iron ores the steel corporation
has. including the property gained from
the Tennessee Coal and Iron Company, less
than % per cent-perhaps not over Is per
cent. This is very much smaller per-
oentaee than the percentage II holds of
the Lake Superior ores which even after
the surrender Of the Hill lease will be
slightly over % per cent.
According to my view. therefore, and
uness--which ! do not believe possible
these figures can be successfully chal-
leneed. the acquisition Of the Tennessee
Coal and Iron Companys ores in no way
changed the situation regards making
the Steel Corporation monopoly
Here Mr. Roosevelt introduces a foot
note. I'm which he says: My own belief
is that our nation should long ago have
adopted the policy of merely leasing for
n term Of years mineral bearing land
but il is the fault of us ourselves. of the
people not Of The steel Corporation, that
this policy has not been adopted" Then
he resumes.
The showing as 10 the percentage Of re-
dJction Of all kinds of steel ingots and
s.ccl castings in the United States by the
steel Corporation. and by all other manu-
iaUuIers respectively, makes an even
stronger case.
II makes tho case even stronger than
Iut it in my testimony before the investi-
eating committee. for | was scrupulously
careful 10 make statements that erred, if
al al, against my own position.
50 mucn fOs the facts in this particular
case. Now f,r tho general subject When
my administration took office ! found not
only that there had been little real enfofce
ment Of the antitrust law and but little
more effective enforcement of the inter
state commerce law. but also that the de-
cisOns were so chaotic and the laws them
selves so vaguely Drawn, or at least inter-
ptetod I'm such widely varying fashions
that the biggest business men tended 10
treat both laws dead letters.
Tho series OF actions by which we sue
cceded in making the interstate commerce
law an efficient and most useful instrument
In regulating the transportation of the
country and eXactng justice from the big
railways without doing them injustice
while. indeed, on the contrary. securing
them against injustice-need not here be
related.
The antitrust law II was also necessary
10 enforce as il had never hitherto been
enforced both because il was on the stat
ute books and because II was imperative
60 teach the masters Of the biggest corpo-
r. tious in the land that they were not and
would not be permitted TO regard them
selves as above tho law.
Moreover where the combination mas
really been guilty Of misconduct the law
serves useful purpose. ard IN such cases
those Of the Standard on and Tobacct
trusts, effectively enforced. the law con-
fers real and great good.
Next Mr. Roosevelt comments on the
suits brought against the most power
ful corporations i'm the land" during his
administration with great care" ad-
ding that 'in the most important of
these suits we were successful" As TO
the results Of these actions he saws:
Sincere zealOts who believed that all com
biDations could be destroyed and the old
time conditions OF unreguate0 competition
stored. insinceTe POLITICIANS who know
"iter but made believe that they thought