Santa Fe new Mexican. [volume] (Santa Fe, N.M.) 1898-1951, 1911-11-16
ROOSEVELT AND
STEEL TRUST
He Has Lengthy Editorial In
Outlook on Mono.
poles
=
PEOPLE AND THE SQUARE DEAL
Former President Denies That
Magnates Had Fool
ed Him.

(By Special Leased Wire to New Mexican)
New York, Nov. 16-RECENI
LITIGATION AND LEGISLATION to
regulate the trusts is discussed and
remedy to meet the present situa-
ton is suggested by Theodore Roose-
welt in an editorial entitled "The
Trusts, the People, and the Square
Deal" published today in the Out
look.
1.-THE suit against the Steel Trust
by the government" Mr.. Roosevelt
begins, has brought vividly before
our people the need of reducing to
order our chaotic government policy
as regards business"
He concludes with this recommen-
dation: ''The national government ex-
ercises control over interstate COM
merce railways and it can, in similar
fashion, through an appropriate gov
ernmental body, exercise control over
all. industrial organizations engaged
in interstate commerce. This con-
troll should not be exercised by the
courts, but by an administrative
bureau or board such as the Bureau
of Corporations or the Interstate
Commerce Commission. For the courts
cannot with advantage permanently
perform executive and administrative
functions"
.sOne of the grounds for the suit is
the acquisition by the Steel Corpora
ton of the Tennessee Coal and Iron
Company; and it has been alleged, on
the authority of the government Off
cials engaged in carry on the suit,
that as regards this transaction l was
misled by the representatives of the
Steel Corporation, and that the facts
were not accurately or truthfully laid
before me- This statement is not cor
rect, | believed at the time that the
facts in the case were as represented
to me on behalf of the Steel Corpora
.tion and my further knowledge has
convinced me that this was true"
1T has been alleged that the pur.
chase by the Steel Corporation OF the
corporation of the Tennessee Coal
and Iron Company, gave the steel
Corporation practically q monopoly OF
the Southern iron ores-that is of the
iron ores south of the Potomac and
the Ohio. My information which l
have every reason to believe correct,
and not successfully to be challenged,
is that of these southern iron ores.
the Steel Corporation has, including
the property gained from the Tennes'
see Coal and Iron Company, less than
20 per cent-perhaps not over l6 per
cent. a very much smaller percentage
than the percentage it holds OF the
Lake Superior ores, which ever after
the surrender of the Hill lease. Will
be slightly over fifty per cent. Ac-
cording to my view, therefore, ana
unless-which do not believe possf
ble-these figures can be successfully
challenged the acquisition of the
Tennessee Coal and Iron Company's
in no way changed the situation as
regards making the Steel Corporation
"a monopoly.
"The showing as to the percentage
of reduction of all kinds Of steel in
gots, and steel castings in the United
States by the Steel Corporation and
by all other manufacturers respective
ly makes an even stronger case. It
makes the case even stronger than !
nut it in my testimony before the in
vestigating committee, for I was
scrupulously careful to make state.
ments that erred, II at all, against my
own position