The Washington times., 1911-11-18
ADMINISTRATION TO
GO CUNNING MONDAY
FOR MONEY TRUST
Taft and Aides to Open Fight
on Big Business Through
Clapp Committee.
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and fearless opponent. The suit to dis
solve the Steel Corporation was the first
step toward making this lineup perfect
ly plain. In that action, reflection
against the intelligence of the Roosevelt
Administration was indulged, because IL
, has been known for a long time that
Colonel Roosevelt was actually opposed
to Taft and quietly doing what he coulu
In opposition to him. This much being
accepted, II was thought well to force
the opposition into the open,
Mr.. Roosevelt's answer to the Admin
instration challenge came in the now
famous Outlook article. declaring that
Roosevelt was not misied in the Tennes-
see Coal and Iron affair, and demanding
also honest business.
The Baker charges that big finance
has been fighting plans for the proper
utilization OF the Panama canal came
Mr. Baker was instantly asked to ap-
pear before the Committee on Interstate
Commerce and tell what ne knows
about the Money trust, and the sources
His hearing on Monday will be the
real beginning of the open warfare. In
| large part II is a political move; but
the committee has no immediate con-
cern for the politics; 1t wants to know
what Mr.. Baker can tell. Mr.. Baker
Will In effect be the spokesman of the
Administration In the announcement o.
its feud with the money power. II the
Administration can convince the country
, that 1t is sincerely at war with the
greatest trust of all, It hopes to garner
valuable political advantages.
only less sensational than the hearing
that will begin on Monday. was that
which Samuel Untermyer. New York
lawyer. trust organizer, and expert in
corporation practice, gave before the
M 40 or taG fnp
economies. in the world. When he has
not bees acting as counsel for great
been presenting illuminating Views as
TO how combinations could be prevented
or. regulated.
Big Trust Lawyer.
Mr.. Untermyer has been one Of the
most successful and efficient Of all the
so-called trust lawyers. He handled
the organization of various brewing
combinations, lead a fight for control Of
one Of the great life insurance compa-
MES, and today he confessed to the
committee that he was professionally
| concerned In formulating the German
,, potash law, which Is the model of all
the antitrust and trust-controlling leg
Station in Germany.
Mr.. Untermyer believes that combina-
tions should be prohibited, but that in
| Germs should be allowed under Federal
supervision. His measure would include
Federal incorporation or license, or pei
haps both. and would establish COM
! mission to exercise the Government s
| supervisory authority in every case, as
mand.
"In 1901" declared Mr.. Untermyer,
the Steel Corporation coming into ex-
!stence. II could have entoined the en-
tire project. and prevented the combi-
nation being formed. The plans Of Or
world. For months the details OF the
| scheme of exchanging securities, of
gathering in the tin plant. the steel and
| wire and all the other subsidiaries, were
published to the world in the advertis-
ing columns OF the press. 1t was TIE
most fragrant violation OF law I have
! ever known, and II the Administration
at Washington had not remained utterly
supine, 1t would have been stopped right
there, as it ought to have been"
Could Have Stopped Them.
You think these combinations could
and should have been prevented?" asked
Senator Cummins. Mr.. Untermyer re-
piled In the affirmative.
'One way, / assume, would be to limit
their size-to place a limit to the amouit
of capital a single concern should en-
poy In q single business.
mo, / don't agree" replied Mr.. I'm
termyer. Five million dollars would
be sufficient to dominate one business,
| while 1t would not touch another"
But my idea would be to have a
commission determine that limit for
each particular business. OF course,
! 1t would be higher in the steel In
dustry than in peanuts; There is, Tor
| instance, about three billions of capi-
| tai in the steel business of the coun-
try
"Of capitalization, not of capital
| interposed Mr.. Untermyer.
| Yes; l accept the correction, re-