New-York tribune., 1912-01-12
CARNEGIE ADDS TO STORY.
Continued from first 9age.

I =
proper and fit man for Attorney General
Of the United States?'
Yes. l did" he replied; "but | object
TO the form Of your question. You ask
after | had experience | had no eH-
perience with Mr.. Knox so far as the
corporation was concerned Mr.. Knox
had no official relations with me.
About the same time that Mr. Knox
went into the Presidents Cabinet did
his partner. Mr.. Reed. go into the d.
rectorate Of the United States Steel Cor
poration?" Mr. MeGilicuddy asked.
Mr. Reed, appealed to by his client
replied that he did.
Don't you think II rather unusual
Representative Bcall asked, that so
many Of these great business men were
ignorant of the laws"
NO" replied Mr. Carnegie.
Now. don't you believe that some men
in the Carnegie company knew they were
violating the law"
Now, Mr.. Bcal when YOU say that
can see in your face an irresistible
smile" Mr.. Carnegie replied.
II see you are smiling, too" Mr.. Beall
answered..
Yes, let's smile together, YOU with
me"
But not be villain still Mr.. BcalI
rctortcd
Mr. Carnegie natly told tho committee
that ne believed there was no necessity
for a protective tariff on steel lie said
I'm the infancy r tho industry it was
uccdful. but that infancy had been out
grown long ago.
Il have consistently advocated rcduc
tion I'm the ;driN before Congress" he
said, "aud ! told President Mckinley
just before he went TO Buffalo to make
his reciprocity speech In 1901 that Amer
lca needed no tariff Oh steel. ! would
make an exception Of needles, because
that is a great business, and as yet VIC
make none in this country, 50 far as
! know"
/ Mr.. Carnegie explained that this coun-
/ try need not fear foreign importation OF
steel i'm case IF free trade.
~ ll't tSA'l "a ii' 'iA li'N ''''''''
govcrnmen; regulation which he recon-
mcndcd was bordering dangerously on
socialism, Mr. Carnegie declared that
socialism hal no tcrrors for him.
MY motto is" lie said. that all Is
well since all goes better. The world Is
growing better every day. | have faith
! il human naturc. That's what makes
me optimistic.'
Mr. Carnegie also insisted that the dis
| tribution Of wealth from the hands OF the
| few to the hands II the many was in
crcasiEg yearly.
| Mr. Carnegie declared that he never had
J any idea the American people would per
NIT the organization Of such trusts as
| have grown up in this country without
! government regulation. lie said he would
| not punish millonaires, as examples 10
! other millionaires. because they had done
! something in ignorance Of the law.
That would be vindctlve,' he said.
/ MI Carnegie said that the day of com
pctjtion had passed, because Of the ability
/ Of manufacturers TO fix and maintain
! prices.
! Men" he said. have been able to sit
| down anu dSItc " IN ~ iSI9 '''H '''N'''N'N'
| them"
'Do you believe that situation to-day de-
stroys compctlton?' he was asked
| Certainly"
"That men in these corporations meet
| somewhere to-day to fix and maintain
prices"
81 think that is obvious"
! lie was asked If he agreed to-day with
views ne expressed two years ago, urging
government control OF corporations and
! regulation of prices
! 81 still adhere to thcm," he answered
| II believe the government should regulate
maximum prices.
Don't you think II an unfortunate con-
| dition?'
! 81 think the time has arrived when that
| ,s necessary, and / point TO the Interstate
! Commerce Commission, which has brought
| order, peace and justice out Of chaos in the
| railroad business"
| Mr.. Carnegie gave the committee sew
oral Illustrations of mis- power to get busi-
ness when he was in the steel market
"Why. take rails. for instance" lie con-
| tinued Il had many close friends In the
railroad business. l remember once the
| Union Pacific had asked for bids for
| 20 600 tons of rails and the bids were TO
be opened at Omaha. All my competitors
| were out there. / walked over to Sidney
| Dillon. of the Union Pacific. in New York.
| had done the Union Pacific a favor once;
got them n loan of something like 100000
| i'm Philadelphia. and they elected me and
| George NJ Pullman directors. | told
| Dillon about the bids and asked him If the
Carnegie rails were satisfactory. He said
they were. | said, 4 want the Union Pa
cifc to do business with me, and I'll give
YOU the lowest price lie said: All
right, Carnegie and | got the 7O.OOO-ton
contract
Now, what's tile use of a corporation
| dghting against such an influence as
! that?'
MI. Carnegie also told how he had given
! a credit to Coils u. Huntington. president
Of the Union Pacific. at time when
| Huntington was hard up"
"He was my friend" said Carnegie.
| What chance had paid agent to compete
under those conditions"
! Mr. Carnegie was examined al leneth
about the price Of steel rails the commit
tee seeking TO establish, IL possible "nether