The Jeffersonian. [volume] (Atlanta, Ga.) 1907-1917, 1912-02-01
THE JEFFERSONIAN

the people know that they have acquired other
plants well as ore lands at the same rate
of purchase price, as compared to conservative
valuation-they know that after paying these
outrageous prices for property, the Steel Trust
has made millions upon millions of dollars
on the investment, because, after acquiring
these plants and ore lands, they had home.
consnetition kazed-the people know that the
tariff enabled the Steel Trust to continue to
make millions on their enormously high
investments because the tnrif shut out the for
eign competition.
Another thing Mr.. Taft had better take into
consideration-Mr. Underwood knows the
steel business-he is from steel manufacture
ing center-he has money invested in steel
properties-he is practical steel man who
knows the steel business from being connected
with it-he knows more about it from expert
ence than the Tariff Commission can give to
Congress from a theoretical study
If Mr.. Taft vetoes the Underwood bill he
may find his veto Of the steel and iron sched-
ule as big an obstacle in his political path as
is his veto of the "indefensibe" wool and
wooden schedule.
James A. Farrell, President Of the Steel
Trust, testified before the Stanley Committee
that the rails used by the railroads in this
country are cheaper than those used by the
railroads in Europe, notwithstanding the fact
that he rails in this country are forced to
bear greater loads, under more trying condi-
tons, than are imposed upon the rails Of
sEurope,-that the railroads Of the United
States place economy before safety.
Mr. Farrell also admitted, under oath, that
the reduction in the cost Of the corporations
products in the foreign markets was made
for the purpose Of meeting competition abroad
that in most cases these reductions left the
corporation with small profit over the cost
Of manufacture, but this profit would not
'make the steel business attractive, unless for
the profits made on the products sold in this
country"
In other words, Mr. Farrell admitted that
the Steel Trust completes with the foreign
manufacturers abroad, and makes a profit on
the business that it does there, but it isn't salts
fed with that profit alone, SO makes the home
consumer pay double profit here at home
profit on what the consumer at home uses
as well as profit on what the Trust sells to
the foreigner.
In view Of this testimony in regard to rail
road rails, Congress should make the railroads
Of the United States adopt different policy
and insure more safety to the traveler-the
railroads should be forced to use safe rail
at . little more cost, instead Of using the
cheaper priced rail at the expense Of hundreds
Of human lives, yearly.
The rail used in Europe is the soft steel
q steel that will bend before it will break
the rail used in the United States is 3 hard
rail containing 8 lot of carbon-the carbon is
brittle end wherever the strain becomes too
great there is 8 snap--a broken rail-and
the loss of human life. The soft rail will not
snap in two as will the hard rail with the
large per cent Of carbon, but it wears out
faster, and therefore costs more, Theoretically,
but it prevents loss Of life to human beings.
The ra; lroods rorofe1, the hard rails haoa1ee