The Washington times., 1912-03-30
MIR. MUJNSEY TAKES
ADVANCED STAND
Tells Stanley Committee He Would Have Government
Reassume Contro! of Natural Resources Which
Have Passed Out of the Public's Possession.
BY JUDsoN C. wELLIvER.

Frank A. Munsey startled the Stanley
Steel Committee a bit with some dectd-
edly advanced politico- o-economc views,
elaborated during the committees hear
ing yesterday afternoon. Mr.. Munsey
developed his ideas about government
contribution of all campaign funds, for
both primaries and elections, and then
he touched on some conservation os-
poets.
III the Government had kept It's re-
sources in It's own possession, 10 be
used for the benefit OF all the people
Its coal, iron ores, coppers, old, water
power and the like-we would never
have had such a problem to deal with
as that of the Standard Oil Company;
we would have known no such huge
aggregations of wealth as, for example,
that of Mr.. Carnegie.
|The Government ought 10 have held
it's natural resources of this characte:.
Whether there Is procedure by which
they can be restored to the Govern,
ment's possession, I am not prepa' ed
to say. But II there Is; If t is possible
to condemn these lands and take tltem
back, to be held by the community for
the benefit of society and operated
under such terms only as the Govern
ment shall prescribe, then l am II. favor
of that plan"
Asked whether ne would have the
GoICrnr,cnt operate these resources,
as we'll as own them. Mr. Munscy said
he wasnt prepared 10 oeSTI6Pe TbaP vdifd mia
work itself out with experience.
Problem In Administration.
That sounds almost Utopian," OBJ
served judge Bartlett. How do you
think the Government would get time
to do anything else If 1t had all those
activities on its hands?"
..Nt 10
agcment, administration, that would
develop its own solution"
DO you contemplate. also. that Gov
ernmrnt should fix prices on the prod
ucts Of the great tndustria!s:" was next
asked.
mo; that Is not in my plan replied
Mr.. Munsey. II have the highest adj
miration for the well-rcasoned argument
of Judge Gary on that point, but l do
not agree with him in his conclusion.
Take the railroads, at the beginning.
Under my plan, they would be physical
ly valued, appraised; then they would
be authorized to earn such rates as
would produce a fixed interest on the
investment thus determined. The rates
would be sufficient to meet our national
demand for the best equipment SER
vices, and conditions of the traffic; also,
there should be a guarantee fund ac-
ability to pay dividends regularly. in
lean AS we'll as fat seasons
That is my plan as to railroads: now,
would prefer to adapt 1t and apply ii
to the great industrials. rather that ac-
tually to have the Government under
take price-making. Given such condi-
tions as suggested, I would not be much
concerned about monopoly; just so the
people could not be taxed excessive
prices for what they must buy.
Guaranteed Rate.
Probably a guarantee of 5 per cent
returns would be ample to make our Sc
curities absolutely gilt-edged in tho view
of the worlds investors, provided, of
course, that there was provision for the
| guarantee fund already referred to. AS
| to competition, 1 think there is more
danger from too much than from too
| little competition"
| Mr.. Munsey here referred to the re-
| tail prices of meats in Washington and
Baltimore, as brought out in a Depart
years ago. 1T was shown" he said
that the average retail price of meats
| IN Baltimore is l6 per cent higher thar
the wholesale price; in Washington, II
not mean that Washington people in
| the retail meat business are probably
making any more than Baltimore peo'
| pie in the same business. But Balti
! more has and patronizes an oldfash'
ioned market; the business Is concen-
trated instead OF being so scattered as
| in Washington; the cost OF doing it is
smaller Washington people don't seen
| to want to go to market"
Members of the committee wanted tC
know how far Mr.. Munsey would carry
| his project of valuation and fixing q
limitation on earnings.
| 20. don't know: I would go as fal
as it proved practicable in business; my
rule is to go ahead until 1 find I'm
wrong, and then stop mighty suddenly
would work out this plan just so fal
as 1t would be carried with the result
of getting goods to the people at the
lowest prices. That would be the pur'
pose"
How could you hope to attract the best
men, the greatest efficiency, to develop
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