New-York tribune., 1911-11-17
Hepburn Says Nations Approach
"Trust" Problem in Diff.
ferent Ways.
BRYCE ON DIS0UIET HERE
British Ambassador One of the
Speakers at 143d Annual
Dinner of Chamber
of Commerce.

ENTERPRISE has come, and come 10 stay
said A. Barton Hepburn last night TO the
members of the Chamber OF Commerce
at their annual dinner at the Waldorf.
After making this statement Mr.. Hep
burn proceeded to offer few criticisms
of governmental control of business
enterprises.
The panacea the crux OF our govern
mental policy, is competition he said.
The policy of our government as to
corporations is to compel the large ones,
commonly called trusts. TO resolve them
selves into their cons -ituent small ones
and TO prevent the buying OF one con-
Germ by a competing business, thereby
preventing large aggregations OF capital
under a single management, and thereby
preventing monopoly, and all this in
order to restore and compel competition
"Other nations approach the same
problem in a different way and seek the
the so-called trusts are resolved into the
separate corporations composing the
same it remains TO be seen whether the
public will receive as good service AT
as fair price. II remains TO be seen
whether these segregated corporations
will continue to contribute as largely an
nually to our international trade bal
ance."
Discussing the methods Of other gov
ernments. Mr.. Hepburn said: The Ger
man government permits the formation
Of price pools. resulting in what we call
trusts, and then controls them. Ger
many does not prevent the consolidation
of business nor the cooperation OF sepa-
rate concerns as TO their management.
nor, indeed, does Great Britain. In Can
ada the enterprising, successful builders
of the Canadian Northern Railway. a
transcontinental system, William Mac
kenze and Donald Mann, are now sir
William and Sir Donald. William Van
Horne at the head of the Canadian Pa.
cifc Railway, is Sir William. Donald
Smith, one of the great men of Canada,
a builder Of railways and promoter OF
commerce, became Sir Donald and is now
Lord Strathcona.
Knishted There, indicted Here.
I'm other countries" declared Mr.. Hep.
burn, ''the successful builders and man
ayers of business enterprises are knight
ed. With us they are indicted.
Mr.. Hepburn also discussed the ship
ping situation in this country in connec-
ton with the Panama Canal.
In 1892 a law was passed denying
American registry to vessels built
abroad" he said. That law stands to-
day. modified so as to permit the impor-
tation of pleasure yachts. The importa-
tion of commercial vessels has been pro-
hibited for 40 years. Prohibition is the
limit of protection. Is il not about time
that law was repealed and our people al
lowed to purchase vessels where they
can buy them cheapest? Has not this
119 years of extreme protection proved
a failure?
Great Britain. Germany Canada and
other nations are building vessels and
planning routes, with the avowed pur-
pose of utilizing the Panama Canal
when it Is finished. Are our commercial
interests making any such prepara-
tions? How, under existing laws, could
they hope profitably to compete? An
enormous sum Of money is being ex-
pended upon the Panama Canal fef
which our people are being taxed. IL is
20 be hoped that the toll collected VIII
be remunerative, for 1t Is difficult TO see
what great advantage will accrue TO
commerce under the American flag "
existing laws continue
Mr.. Hepburn was speaking at tile
143d annual dinner OF the Chamber Of
Commerce, at which he presided. At
the speakers table was a distinguished
list OF guests. Mayor Gaynor sat on
Mr. Hepburn's right and Ambassador
Bryce on his left. Next TO the Mayor
was Governor Dix, and after him were
Senator Root, President Butler Of Co.
lumbia University, Andrew Carnegie. ~.
fred Mosely, General Horace Port04s
James j. Hill and Rear Admiral Peary.
Other Noteworthy Guests.
Governor O'NeaI of Aabams sat next
TO Ambassador Bryce and next To him
we're J. Perpont Morgan George r.
Baker. chairman OF the board OF direc-
tors of the First National Bank; Bishop
Greer. Rabbi Wise, Thomas A. Edison.
Senator Depew, General Grant and st.
Clair McKelway.
Ambassador Bryce spoke of tho
troubles that Europe and the Orient are
having in armed conflicts, and said that
this country was fortunate in being able
TO devote itself TO its domestic difficult
ties. but no matter how interesting those
might be-. he added. his position forbade
his commenting on them. He saw, how
ever. that some OF the speakers who were
TO follow him. as well as Mr.. Hepburn.
the chairman, would touch on those
troubles His duty, he said lay only In
speaking OF the past and contrasting the
era OF forty years ago with to-day.
When he first came 10 New York, In
1870. said the ambassador. Tweed was
I'm control in this city. with group of
men around him OF whom little need bs
said except that they were not men OF
especially scrupulous honor. Now city
governments. II they were not perfect.
certainly in the large cities. and partic-
ularly In New York. had become far
more honest. scientific and businesslike
than ever before.
There was still disquict here. how
ever he said The strife was now be-
tween labor and capital. though that