The Detroit times. [volume] (Detroit, Mich.) 1903-1920, 1912-01-12
CARNEGIE APPROVES
ROOSEVELT'S TRUST PLAN,
BUT FlAYS TAFT'S IDEAS
Ironmaster Says He Is Not In
Favor of Strengthening Sher-
man Antitrust Law.
WANTS FEDERAL CONTROL.
Says Only Solution Is TO Give
Government Power To
Regulate Prices.

WASHINGTON. Jan. 12.--Andrew
Carnegie lined up with the antitrust
views of Col. Roosevelt as against the
trust dissolution plans OF President
Taft in HIS testimony before the Stan
ley steel committee today.
The ironmaster engaged In a
lengthy argument on the theory OF
the control of trusts and with en-
thusiastic gestures declared for the
control and regulation OF the large
trust units by the government.
I'm the solution of this trust prob
lem said Carnegie, there are two
lines OF thought in this country. One
Is the idea of President Taft, that
these big corporations should be
broken up and dissolved. The other,
as expressed by former President
Roosevelt. is that under the existing
law We should look to the recognition
OF these large units under careful,
close governmental regulation"
I'm which of these classes do you
find yourself?" he was asked
Il know the views of Mr.. Roosevelt.
and agree with Them" the witness
answered.
Il think for the present that we
should allow large business organiza-
tons to continue. You should pass
laws regulating these corporations
and then wait to see what further Leg
islation is necessary"
do you believe the Sherman law
should be repealed or that IL should
be strengthened TO hasten the dissolu-
ton of these corporations?
Carnegie was not in favor OF the
strengthening of the law.
DO you believe that the dissolution
OF the street trust would reduce the
price of steel to the consumer" asked
Gardner
IL do not" answered Carnegie. THE
only way to do that is to give the
government power TO regulate prices"
Ii was observed that in his exam
ination today, Carnegie did not at
tempt as much evasion as yesterday.
IL was assumed here that the iron
master adopted the more willing at
tltude as result of conference
which he had last night with Senator
Root, (Rep., n. W, and the two Reds
one, the father, Carnegie's personal
counsel the other, the son, represent
ing the steel trust before the commit
tee.
The name OF p. c. Knox, present
secretary OF state. former attorney
general and Senator from Pennsyl-
vania. was brought into the steel hear
ing yesterday afternoon when Car
negie, following n bitter cross-examina-
ton by Rep. McGillicudy Oem., Me) i.
declared that the law firm of Knox
& Reid. hadn't told them anything
about the Sherman law"
Did any member of the firm advise
you as to the effect of tho Sherman
law" McGiIlicuddy asked
No answered Carnegie. 81 don't
think they knew anything about IT,"
Pressing Carnegie, McGillicuddy Sc
cured from him an affirmative reply
TO the question: And after ten years
experience with that attorney who
kept you in ignorance as to a law
vitality affecting your business you rec
)mmended him rs attorney-general for
he United States
Carnegie came out emphatlcally in
qvor OF the removal OF all tariff OIL
teel. He declared that the American
Industry was well able TO compete with
he manufacturers In the world with
out any tariff protection.
Rep. Sterling (Rep.. llls), endeavor-
ed in vain 10 shake the iron masters
convictions on this subject