The Richmond Virginian. (Richmond, Va.) 1910-1920, 1911-12-16
Louis D. Brandels, Expert on
Political Economy.
Attacks Gary
LATTER INDIGNANT,
DENIES ASSERTIONS
Head of Steel Trust Tells
of Treatment Given En-
ployes By Big
Corporation

WASi1NGIoN, Dec. l5.-TnO
papers yesterday published a story
that Judge Z. Fl. Gary, executive head
OF the United States Steel Corporation
intends presenting Mrs. Gary with .
100000 pearl necklace as a Christ
mas present This present illustrates
the perfect sham OF profit sharing al
practiced by those great trusts. Many
of the wkorkers sooner or later, Will
discover this sham. We find here
gift OF such extraordinary value drawn
from Steel Trust profits. that royalty.
itself. could hardly equal 1t.
Such things as this must have .
serious effect upon existing conditions
and create still greater social unrest.
This magnificent gift should suggest
to US the queens necklace, the story
OF the French revolution. and the
great social unrest of the people Of
that day. This gift Is remarkable
example Of the unearned wealth OF
those enjoying II and which ia taken
out OF the lives Of those who work
to produce It."
Louis d. Brandeis. expert on polit-
zeal and financial economy and au-
thority on great corporate combina-
ton, startled the Senate COMMITTEES
on Interstate commerce, investi-
gatink the trusts, with this remarkable
statement today. ~
Mr.. Brandeis was discussing the
subject OF profit sharing which Judge
Gary and Gg sWreo.icnsip$isup ecu
Gary and George w. Perkins had said
was one OF the policies OF the Steel
Trust.
He denounced the scheme.
Revenge Is Coming.
Senator Cummins ventured that the
plan consisted solely In permitting
employees to buy stock for which they
paid either In cash or wages, These
workmen had enjoyed profits sharing
to the extent Of twelve millions. while
the promoters and other capitalists
connected with the trust had abssrbed
| ss0o.ooo,ooo. To this statement Mr..
BrAndeis made assent
The revenge that Is coming to the
trust" continued Mr.. Brandeis, '.is
due to their treatment Of labor. Work.
men are driven Ike slaves and tho
, corporation is getting only such re-
| suits as come from slavery. This
IL not efficiency. The contrary condi-
ton exists in Great Britain, where.
more and more. the working people
| are having their rights acknowledged.
Ten yeards ago England was far boz
hind. but in recent years she has been
going forward In the march Of prog-
ross
II believe" declared Mr.. Brandeis.
with great emphasis I'm the econ
ony OF high wages and in the economy
| OF shorter hours. The trusts have
| sought efficiency by repression; It
| must be obtained through individual
effort and with fewer hours OF labor
and that incentive that comes from
fair play"
Attacks Attorney General.
The attorney general came in for
a good share OF criticism by Mr.. Bran
deiA for hts approval of the dissolus
ton decree In the Tabacco case.
The attorney general asked a NUNS
Der Of things Of the court" said Mr..
BrandetA that. II granted. would
have helped much to restore compe-
tition. These the court refused The
attorney general expressed sympathy
with the independents opposition to
stock ownership in competing COM
panieA but thought the decisions OF
the Supreme Court IN the Northern
| security and the Standard OH casea,
tacitly recognized such ownership.
However. that may be-" contin.
| ucd Mr.. Brandeis. "in private prac-
tice any lawyer recognizing that
courts Of appeals have been created
because OF the fallibiiity OF Judges
would have refused the decree Of tho
Circuit Court until the Supreme Court
had reviewed It. Instead OF this he
acquiesced and the independents say
they are left IN worse condition than
before the suit
Mr.. Brendeis insisted that Congress
had full power to direct that the ap-
peal be taken and quoted legal au.
thorities to sustain that opinion.
WHO rendered the greater service
to the trusts In this suit?' asked
Senator Pomerene, the attorney gem
eral or counsel for the trust"
THE trust now is in better shape
than 1t was before the suit was
brought" replied Mr.. Brandeis.
been legalized."
Chief Industry Arrested.
Again Mr.. Brandeis observed
The chief industry arrested by
fear OF the Sherman law has been
the manufacture OF bonds and
stocks
He commended that the dissolution
OF the steel trust would mean lower
prices.
THE upward trend of cost pricee
in manufacture during the existence
Of this trust" said the witness.
needs som explanation"
Nothing has been so favorable -
the increase of socialism as this de-
velopment of enormous fortunes
through these Industrial trusts. The
socialists are hoping for the Tina
when these organizations will ~
more centralized than they now are
They say. Let them combine. and
|. when they are all In one body. BY -
single act wen take them all OVER
~. r. Morgan, socialist allege, n
their best friend. as he II paving the
way by centraiixation to the point