The Richmond Virginian. (Richmond, Va.) 1910-1920, 1911-12-14
CORPORATIONS IN
CONSTANT DANGER
According. to Perkins This
Condition Threatens
Country
HOW TO CONDUCT THE
TRUST MANAGEMENT
In Germany They Knight
Captains of Industry,
In America They
lndict Them

WASHINGTON. Dec 13.-George
Walbridge Perkins, whose name Is or
was on the directorates Of an aston
ishing number of trusts, today told
the Senate Interstate Commerce Com
mittee all about his plans for the
amelioration of the millions who are
suffering from existing business con-
ditions. Incidentally he said that most
due to the inventive genius OF Thos.
A. Edison. He cited as a special In
stance the telephone, which Edison
did not invent.
Mr. Perkins testimony required most
OF the day in the telling Like Gary.
he advocated commission form OF
corporation control. He was not IN
favor of having the commission fix
prices or interfere too strenuousiy in
the direction of corporations, but he
said 1t would be big thing for the
country. and that all the bright young
men now III business would regard II
as the final goal of business ambition.
Also he announced that the present
intention of all the corporation mana
gers at present Is to obey the law, and
do all they can for the upiift move
ment which he says Is the principal
sign of the times.
Perkins was backed into a cornef
once or twice. by Senators Pomrene.
of Ohio, and Townsend. OF Michigan,
who tried to get him to admit THAI
the Steel trust was over capitalized.
and that It should have been sup
pressed at its inception. He wriggled
adroitly out OF answering questions
whenever they came too close.
How to Conduct Trusts.
Mr.. Perkins, who was very becom-
ingiy attired In a dark business suit.
with black and white striped tie.
had no hesitancy in telling the Sena-
tors exactly how the country ought to
be conducted IN the fature with ref
/. erence to the trusts.
He began by announcing in very
| firm voice that the great progress In
inventions was responsible for BUSH
ness situation which he depiored, and
was going to correct as soon as he
could get around to 1t. He said he
had had great business experience in
all parts OF the worSd, and not being
DESTROYS to accumulate vast wealth.
had made up his mind to get out of
| business rs fast as possible, and de-
| vote his time to the settlement OF the
| capital and labor question.
In response to u question he said.
i think Mr.. Edison II 1 may say SO,
| has been largely responsible for con-
| dftions as they are today. Inventions
have followed one another repidiy, and
business men in developing them have
been SO busy. and have had their noses
| to the grindstone so much, that they
| have had little time TO think OF the
| interests OF the whole people,
| Than Mr. Porkfpr to3d ~, oo,r,,>ts
| tee about a big business man OF his
acquaintance. settling a business deal
| by use OF the long distance telephone.
between half a dozen Western cities.
| and all while the big business man
| was eating dinner
| Mr. Edison didn't invent the teie-
phone. but mono Of the committee was
SO tacfless as to remind MIR. Perkins
| OF that fact.
Public Applauds Inventions.
| Mr.. Perkins said that the public
hastened to applaud the man who
made inventions. but clame red Tor
the imprisonment OF the men who
put his inventions to practical use
A little later in hts testimony he pro-
duced this epigran:
| In Germany they knight their
captains Of industry: In this country
they indict them"
NE. PERKINS admitted that there
has been a great awakening or late.
and that business Is being conduct
ed higher plane than ever before.
This same admission was made by
Mr.. Gary on the occasion Of his last
appearance before the committee.
In response to question by Mr..
Watson. OF West Virginia, as to how
the corporations were unjustly dealt
| with under the Sherman law, Mr..
Perkins said:
Amy corporation may be attacked
now. understand that more than
one hundred Of them are right in
line for attack new. I think that IL
a commission were appointed and
given power to controf corporations
that for time publicity would be
all that was required TO keep them
within the law. II the commission
were given power TO revoke a license
tc do interstate business. no man
ager Of corporation would dare
risk the revocation OF the license.
That Is all the punishment 1 think
would he necessary at the start
| Mr.. Perkins said that ne wovsd
grant any corporation immunity once
| It was organized. IN response 20
! cross questioning by senator Pom
| creme. he admitted that It might not
| he bad thing to give the Depart
ment OF Justice an opportunity to In
| terfere II Il was assured that the
| corporation already granted a license
was doing business IL direct defi-
ance Of the law.