Daily Kennebec journal. [microfilm reel] (Augusta, Me.) 1870-1975, 1911-11-30
PRES. GARY OF STEEL
TRUST MAKES PLEA.
CONTINUED from Page one.)

to have these dinners lately: that
there was no means Of knowing eX-
actly what constituted violation Of
the Sherman law; and that some gov
ernmental commission ought to have
the power TO pass on agreements OF
mergers which would rebound to the
public good, and at the same time ben
eft the Industrial interests concerned.
The Steel Corporation. Mr.. Gary
said. had been at all times anxious
TO obey the law and desired only as
faif. treatment as was given TO the
consumer.
Equal treatment is all we ask" he
said There has never been time
that I have not said show us where
we are wrong and we viii get right"
1.-THE first great thing is publicity"
said Mr.. Gary The great corpora
ton that is compelled to publish its
facts and figures and to live up to
the requirements of the law. viii prove
a great thing for the entire country"
Mr.. Gary declared that the United
States cannot give up the big eorpor-
alton or the big combination of capt.
tai They are necessary, he said if
the United states is to maintain COM
lnercial supremacy and Industrial
equilibrium and the greatest public
good will be secured by working out
a system of Federal control that will
prevent the misuse of the power of
corporations.
I'm the last few years" said Mr. Gary,
s'there has been much In the management
of great business affairs that was wrong |
Many of the great business men, fnclud- |
ing. perhaps. myself. had notions con |
corning the conddet Of business which /
should be changed
He said that corporations had devel- L
oped to point where they must be curb
ed to prevent the misuse of their power
..yvhen we realize that with the ability !.
10 accomplish great results is involved
The power TO do great wrong, said Mr. |
Gary, "we must realize also that some
plan should be devised to protect the l.
public interest and yet preserve the cor
poration for the great good it can ac- 4
cornplish.@
AS a curb for the trust evil, requiring 1
fun publicity. preventing over-capitaliza-
ton and preventing discrimination in I
cases between persons and localities.
The creation of a corporation commits
sion with power to grant, suspend. and
revoke federal licenses subject to right /
of appeal 10 a court
The corporation commission to-. have |
power to decide questions submitted by |
managers of business organizations who !
desire to avoid illegaiity in their actions |
and to regulate prices as far as neeessa- |
ry to prevent monopoly and. restraint of |
trade. |
Congress should test the right of the |
supreme court TO interpret and virtually |
make the laws" said Prof. James A. |
Gray of the University of Minnesota, !
who followed Mr. Gary before the Senate
committee. I'VE have apparently come
to point where the National Legisla-
ture is about to be abolished. The
courts are interpreting the law and the
one who interprets the law is actually
the one who makes it
Prof. Gray recommended the establish
ment of commission to interpret the
laws. thus forcing npon the supreme
court test of that bodys powers. He
said that combination amongst industries
must come about as natural develop
ment. and that the government should
control these combinations through an
administrative commission.