Tulsa daily world. [volume] (Tulsa, Indian Territory [Okla.]) 1905-1919, 1912-02-14
IS INTERESTING TESTIMONY
RAILROAD MAGNATE FURNISHES
SEVERAL SURPRISES 10
STEEL COMMITTEE.
He HAS ORIGINAL ideas
Says Competition VIII Exist Just as
Long as Doctrine Of survival
OF tittcst Lasts.

WASHINGTON. Feb. 13.-James j.
lin told the Stanley steel uNesu. .at-
ing committee today that he would
'be a first class angel with red and
white feathers In my Wings before
he would go into the steel business
and predicted that competition would
be the rule long after the present laws
were wiped off the statute books.
Mr.. Hill's last day of testimony was
replete with the epigrams and sage
expressions for which he is noted.
He said the Stockholders Of the Great
Northern railroad were mot wearing
any crepe becauos the L. $. steel
corporation I'm its fright" had can
celled the Great Northern ore lease.
You win be IN a comfortable posi-,
ton no matter whether the lease is
cancelled or not won't you?' sug
gested Chairman Stanley.
You could start steel company Of
your own with 10000, 900 tons of ore
in the ground"
81 will be a first class angel with
red and white feathers in my wings
long before ] ever consider gong into
the steel business" replied Mr.. Hill
No More Had Work.
I'm be "A Years old my next birth
day and don't mind telling you that
I've done about all the hard work
/ intend to do in life
But you did at one time contcm-
plate going into the steel business
didn't you?" Chairman Stanley asked
the question ntimating that this was
one of the reasons that led the steel
corporation to insist upon leasing the
Hill ore lands,
Il never did" said Mr.. Hill ANY
reports of that kind We're untrue"
Just before the railroad builder
was excused Representative Beall o.
Texas called his attention to the dec
laratons of Il. II. Barry, chairman Of
the board of steel corporation, to the
effect that the day of competition was
passed in this country and that the
time was at hand when the govern
ment must regulate maximum and
minimum prices of commodities.
81 think that you will have to tame
! ish motives that rule human beings
and every form of life If YOU Will
eliminate competition" remarked Mr..
just as long as the doctrine of the
survival of the fittest lasts and that
will be operating long after all of our
present statutes have been wiped Off
the books
"Do you think, then, 1t would be
unwse for the federal government u
assume control of business" asked
Mr.. Beall.
81 think When the fed
eral government does that it will be
very short step until there will be
no federal government" was Mr.
fIllrs quick reply.
you think that such government
would not be like republic"
1T would be a MONARCHY re-
turned Mr.. Hill.
Chairman Stanley asked If Mr. Hin
thought big corporations, operating
under a new golden rule of business
aided by the government i'm fixing
prices and preventing them from
hurting each other, but not pre-
venting them from crushing labor.
would aid in holding society together.
How long do You think this gov
ernment would last under such con-
ditions ?" asked Mr.. Stanley
No Watering OF stock.
oh We might last week. Mr..
Hin smilingly replied.
Then you don't believe that the
United States should undertake to
regulate business ?'' Mr.. Beall re-
sumed
Il would lay down the law of right
and wrong" said Mr.. Hill. Il would
limit the power of corporations.
would see that every corporation that
started business put all the money In
and would not be Jealous on account
of the size of corporation. would
not permit any watering of stocks. I
would see that 100 cents on every dol
lar was put up and that money was on
hand to take care OF It,"
We'll. you tried a railroad combin-
alton once. didn't you?" said Repre-
sentative Bartlett. referring to the
Northern Securities case. THE gov
eminent didn't let you carry II out
and you are still doing a profitable
railroad business.
Yes. and not making any COM
plant" said Mr.. Hill.
Mr.. Besll asked again II the witness
had faith in competition. You ask
he II have faith?" he answered. Il
feel like the man whose wife was dy-
ing. The minister came and asked