The Barre daily times. (Barre, Vt.) 1897-1959, 1912-01-13
APPROVES
7. RS VIEWS
His Trust Idea Favored by Mr..
Carnegie
RATHER THAN PRES. TAFT'S
Advocates Control by the Government
of the Trusts-The Sherman Law
Is Not Sufficiently
Drastic.
RATHER THAN PRES. TAFT'S

Washington, Jan. l3.-Andrew Carne
gio concluded his testimony yesterday
before the House steel trust" investi-
eating committee,
He admitted that in 1900 he con
tributed $4,000, to oppose the policy
OF Imperialism and annexation of the
| Philippines. assailed Wall street and
branded stock jobbers as parasites"
| He urged the Roosevelt trust policy
in preference to Taft's for dealing with
trusts, and asked Congress to carefully
| consider that problem
| Carnegie was subjected to fire OF
questions which put hip on his mettle.
Chairman Stanley elected from him the
attack on the stock jobbing which will
! probably influence legislation to be pro-
posed by the committee.
Representative MeGillicuddy Of Maine
somewhat confused Carnegie with his fire
of questions seeking to show plan
was formulated TO organize the United
States Steel corporation before Mckin-
ley was elected president in 1900, and
that the deal was eonsummated soon
after his election.
He brought out the fact that Carnegie
had told Mckinley to have nothing to
do with Imperialism or annexation of the
Philippines.
81 am familiar with the views of ex-
President Roosevelt on the trust ques-
ton and | am inclined TO agree with
him." said Mr.. Carnegie. Representa-
tive Gardner of Massachusetts, had con-
trasted those views with ideas expressed
IL President Taft in his recent message
on the trust question.
"1n the solution of the industrial prob
lem" said Representative Gardner. there
are two leading thoughts before us.
President Taft, in his recent message,
expressed the view that dissolution of
large units should 90 on. The other line
OF thought as expressed by former Presi-
dent Roosevelt is that under the ex-
isting Sherman law we should look tn
recognition of large units controlled by
the government In which class are you,
Mr. Carnegief"
Il have agreed with Mr. Roosevelt's
views. I think for the present you
should allow lar- organizations TO con
tinue and see how we get along, and
that YOU should pass laws regulating
these organizations. Then YOU should
be patient and see what further legisla-
ton may be necessary. | do not think
the Sherman law is drastic enough. Give
us clear, unmistakable law and | be-
leve we viii steer clearly"
DO You believe dissolution Of the
United States Steel corporation would
lessen the price of steel?'
II do not believe it would 1t de-
ponds. of course, upon what the courts
might do"
Suppose Congress does not take the
step that you adviser"
my opinion is that Congress win see
the necessity for more government con-
troll"
The committee Yesterday served
subpoena on J. II. Reed of Pittsburg, Mr..
Carnegie's COUNSEL and president of the
Steel Corporation Union and Pittsburg
Bessem and Lake Erie railroads. Mr..
Reed was present Secretary of State
Knox partner as counsel for the Car
negie company in ls90-l900, when the
company is declared to have been part
ly to illegal pools.
]. Howard Bridge, of New York. who
several years ago wrote a book on the
inside history of the Carnegie Steel
company, was called to the witness stand
before Mr.. Carnegie was recalled. He
testified he had been given by the com
pany officials, access to the original docu
ments, but had not had access to books
Of the company
Representative Young began the ex
animation Of Mr.. Carnegie. He referred
to the questions Thursday relating to
the reason for the great strides made
in the profits Of the Carnegie Steel
after 1897, following the pas
sage of the DingIey tariff Mr. Young
read statistics showing the production
of steel as well as the profits greatly