The farmer and mechanic. [volume] (Raleigh, N.C.) 18??-19??, 1911-06-13
TRUSTS FAVOR SOCIALISM.

the effect Of increasing the advocates
Of semi-Socialism by securing some
distinguished converts. There Is
only one Socialist in Congress who
believes that the government should
be the real daddy of all the people,
but President Gary. of the steel trust,
and other magnates have suddenly
come to the conclusion that the
Federal government must extend its
powers and regulate the big corpora
tons. Here are some extracts from
the New York Evening Posts repor'
of the testimony Judge Gary gave to
the House Committee:
'Personally,'' said Mr.. Gary, Il
believe the sherman Act does not
now, and never will, fully prevent
tho organizing Of the great combln-
atoms Of capital. | believe we must
come to enforced publicity and gov
ernmentaI control of corporations
DO you mean government control
even as to prices % Mr.. Stanley ask
ed.
Yes, even as to prices. SO far as
1 am concerned. speaking for the
United States Steel Corporation, /
would be very glad if we could know
exactly where we stand and coulu
be tree from the dangers and critl-
cism Of the public. | wish we could
go to some responsible government
tai source and say: Here are u
facts here is our business, here
is our property, and our cost Of pro.
d%uction,' and could be told just what
prices we could charge and just what
We could do"
mi. Gary said the real problem
was not the making of big profits,
but it was rather the establishment
of a definite understanding of the
legal situation.
D I understand that you believe
in strict governmental supervision or
corporations" asked Representa-
tive Littleton, of New York.
Yes, I do said Mr.. Gary. Il
know that is a radical position, but
something must be done"
us it your conviction" Mr.. Lit
Teton inquired, that the Sherman
antitrust law is archaic n unable
to lea with the modern situation !"
Yes"
DO not the interpretations of that
law practically order a continuance
Of the old competitive system as OPP
posed to cooperative modern meth
ods?"
81 am afraid they do Mr.. Gary
replied. I'VE do not want a con-
dition Of uncertainty, in which we do
not know just what we have a right
to do"
Representative Young, of Michi-
gan, asked Mr.. Gary if he thought
the national government had a right
to fix prices Of commodities in inter
state commerce.
MY opinion said Mr.. Gary, lis
that so far as it relates to interstate
commerce the Federal government
has that right. *
Mr.. Littleton: You think, then,
the time has come when we must
surrender the competitive method in
business for acceptance Of a new
policy in big business affairs?
Judge Gary: 1t seems to me that
it has"
Commenting upon this remarkable
testimony of Judge Gary, Harpers
Weekly editorially says:
"There seem to be but three ways
Of dealing with the trusts:
"a Let them alone.
"(2) Bust them up.
'(3) Regulate them.
Method No. l has failed as yet
to enlist public confidence, though
in spite of human imperfection ft
might work better in the long run
than people think it would.
Method No. 2 Mr.. Gary considers
impracticable, so he comes to NO.
8 and accepts it with all It's neces
sary i'm IMPLICATIONS.
He believes government control
must extend even to prices. Not
merely that: he wants government
control of prices. What. one Won
ders, would John Stuart Mill have
said to such a doctrine? What can
our orthodox political say
to it? Or our orthodox political
science? But then our orthodox po-
litical economy and our orthodox po-
litical science are both based on the
theory Of universal competition, and
here is what Judge Gary thinks we
must surrender, the competitive
method In business"
If the American people took Judge
Gary or any other trust magnate Sc