Albuquerque morning journal. [volume] (Albuquerque, N.M.) 1903-1926, 1911-11-30
Executive Head of United.
States Steel Corporation
Makes Plea For ''Big BuSi-
ness of Country,
BELIEVES IN LONGER
PRESIDENTIAL TERMS
Would Elect President For
Eight Years and One Term.
only and Appoint Judges
For Life.
lnr MornInr Journal special leased Wire !

IBy Morning journal Special Leased Wire
washington, Nov, 29.-Elbert ii.
Gary. executive head of the United
states Stel corporation. made plea
for ehig business" today before the
senate committee ON interstate com
merce which is searching for a solu-
lion of the present trust problem in
the United States
big corporations are essential TO
the development of the country and
the maintenance of business pros
perity," he said. ITO prevent their
misusing the enormous power that
comes with wealth and control of in
dustrial agencies" said MIR, Gary,
the government should take control
of them, through a corporation com
mission with power to regulate their
affairs.
Add TO this a clear law as to
what can and cannot be done; pubh-
city Of all affairs of corporations; and
the elimination of presidential and
other political issues from the busi-
ness world and the unrest that has
spread over the United States will
largely disappear. The coming cleo
ton is already disturbing business.
He said members of the courts
ought to be appointed for life: that
the president ought TO be elected for
eight years without the privilege of
re- election so that he would be in a
position and frame of mind, where
he would not be tempted to look in
.ta. direction or toward any interests
in seeking reelection.
Mr.. Gary dwelt at length upon the
political situation. He said he had
no particular president in mind; but
that he believed fewer elections and
less reason for seeking public or pri-
vate support for political purposes
would aid greatly in keeping business
at a level.
Judge Gary recommended the
federal license Of corporations, their
control by u trade commission; the
publicity of all their affairs and the
sanction of certain acts which the
commission might consider not to be
restraint of trade"
How would the commission know
whether an agreement among steel
men to fix the price of rails at $2S
was restraint of trade'?' asked SEN
ator Cummins
1t would soon become competent
to know that" returned Judge Gary,
"as the interstate commerce commits
sion has become competent to decide
whether rates are just and reason
able"
He declared unrestricted competi-
ton meant the ruin of small individ-
ual concerns and the gradual
strengthening of natural monopoly of
the larger, AS to this he urged that
the government recognize the need of
partial agreements between corpor-
atoms and individuals so that an ac-
tual competition might still be main
taned that would be fair and free to
all interests.
Is there any particular thing now
clearly forbidden 10y the Sherman law
That you think ought to be permit
tedY asked Senator Cummins.
Mr. Gary thought rot; but he said
the business difficulty lay in deciding
beforehand what amounted to res
ualnt of trade The famous Gary
ulhner', where steel men gathered to
discuss their affairs, was not to fix
prices but to disclose their business
conditions to each other, he said.
Every gentleman there if he was
gentleman, could go away with
lull knowledge of his competitors af-
ialfs and could shape his business so
az not to ruin his competitor" said
Mr. Gary.
lie added that he had not dared
even to hold these conferences lately
'hat there was no. means of knowing
eNactly what constituted violation of
u'e Sherman law; and that some
governmental commission sought to
nave the power to pass on agree
lents or mergers that would rebound
~ the public good and at the same
uhe benefit the Industrial combina-
uons concerned.
congress should test the rights of
ue supreme court to interpret and
"iually make the laws" said Pro-
'essor John III. Gary of the Univer-
's OF Minnesota, who followed Mr..
naiy before the senate committee.
,olessor Gray recommended the es-
constituent Of a commission to in
'pret the laws, thus forcing upon
e supreme court a test of that
"oays powers