The Birmingham age-herald., 1912-02-14
HILLS TESTIMONY |NTERSPERSED BY SAGE EXPRESSIONS VII Be an Angel With Wings Before He Enters
 Steel Business COMPETITION WILL
 NEVER BE STYLED Railroad Magnate Differs Radically With Declarations of E. H. Gary. Government Should keep
 Out of Business

Washington, February 13.-James J Jfill told the Stanley steel investigating committee today that he would pe first class angel with red and white feathers in my wings" before he woule go into the steel business and predicted that competition would be the rule long after the present laws were wiped of the statute books.
 MT Hlrs last day of testimony wa' replete with the epigrams and sage ex' pressons IT which he is noted. He said the stockholders of the Great North ern were mot wearing any crepe be- cause the United States Steel corporation ..in it's fright" had cancelled the Great Northern ore lease.
 You will be in a comforteh hle position no matter whether the iease is canceled or not. won't you?" suggested Chairman Stanley. You could start steel com- pany of your own with 4O0,00O,000 tons of ore in the ground?''
 No Steel Business for Him
 T will he a first class angel with red and white feathers in my wings long before I ever consider going into the steel business replied MT. Hill. "1'll be 74 years old my next birthday, and don't mind telling you that I've done about all the hard work I intend to do in life"
 But you did at one. time contemplate going into the steel business. didn't you?'' Chairman Stanley asked, the question in timating that this was one of the reasons that led the Steel corporation to insist upon leaving the Hill ore lands.
 T never did," said MT. Hill. Any re- ports of that kind were untrue
 Just before the railroad builder was excused Representative Beal of Texas called his attention to the declarations of E. H. Gary, chairman of the board of the Steel corporation, to the effect that the day bf competition was passed in this country and that. the time was at hand when the government must reg ulate maximum and minimum prices of commodities.
 Cannot Eliminate Competition
 'I think you will have to tame hu- man nature and eliminate all selfish mo- tives that rule human beings and every other form of life before you will elim- mate competition" remarked MT. Hill. "There will be competition just as long as the doctrine of the survival of the Attest lasts and that will be operating long after all our present statutes have been wiped off the books"
 Do you think, then, 1t would be un- wise for the federal government to as- sume control of business?" asked MT. Beal
 T think when the federal government does that it will be d very short step until there will be no federal govern ment," was MT. Hills quick reply
 You don't think that such govern ment would be like q republic?"
 Tt would be monarchy returned MT. Hill.
 Stanley's Plan
 Chairman Stanley asked If MT Hill thought big corporations operating un der new golden rule of business aided by the government in fixing prices and preventing them from hurting each oth- CT, but not preventing them from crush ing labor, would aid in holding society together
 How long do you think this govern ment would last under such conditions?' asked MT. Stanley.
 70, we might last a week." MT. Hill smilingly remarked.
 Then you don't believe that the United States should undertake to reg ulate business?' MT. Beall resumed
 T would lay down the law of right and wrong" said MT. Hill. T would limit the power of corporation. I would see that every corporation that started put all the money in and I would not be jeolous on account of the size of the cor poration. 1 would not permit any watering of stocks. l would see that loo cents on every dollar was put up hat nn n ia k n care of it."
 Well, you tried a railroad combi- nation once, didn't your" asked Rep resentative Bartlett. referring to the Northern Securities case. The govern ment didn't let you carry 1t out and you are still doing profitable businss?"
 Making No Complaint
 "Yes and not making any complaint" said Mr Hill
 MT. Beall asked again if the witness had faith in competition.
 You ask me if have faith?' he an- swered q feel like the man whose wife was dying The minister came and asked the husband if she were resigned. She replied that she had not 1 have not re- signed faith in competition. l don't think it is within the power of man to elimi- nate competition"
 DO you think we can trust competition 10 deal With our complex Duslness proD- lems?" 'I don't know of any overgrown cor poration that established itself in success permanently. The Standard Oil company came nearest to it of any
 Mr. Hin told the committee that he paid little attention to speculation and did not think that men who made speculative prices in Wall street knew much about actual conditions. He predicted, taking issue with Commissioner of Corporations Herbert Knox Smith, that the ores in the Hill lease, held by the Steel corporation as worth s1 ton, would soon be worth sl.5O to s2 royalty ton. He also predict ed that before many years pig iron could be laid down in Brooklyn from China for ST ton. MT. Hill aroused some interest when he said Frederick Weyerhauser, the lumberman. had refused to pay s75,000 for the fee to the Wright and Davis lands. which he afterward bought the major portion of the land leased to the Steel cor poration and containing iron ore estimated at 40o,0o0.oOO tons. s
 Weyerhauser Mistaken
 T think Mir. Weyerhauser made mis- ake,' said MT. Hil
 Mir. Hill said he thought il was very o%s, tf.