The Washington times., 1912-01-11
CARNEGIE ADMITS
Competition AGE
HAS NOW PASSED
Tells Stanley Committee the
L Time for Federal Super
vision Has Arrived.

vision has Arrived.
Continued from First Page.)
The ironmaster. yours is violent
supposition."
Chairman Stanley said:
You plead eloquently for the men
IN, Wno have violated; ,tst,., you say gay innocsntiy
cclf. that your company was violating
laws, were industr,ously pernicious
and you never knew It, Don't you be-
law were vigorously enforced. and some
man who had brought misery tnd chaos
20 the people were fncarcerated then
that incarceration. would bring TO the
ness Of their oftense and the danger Of
their pcsltions?"
Ignorance Of Law.
Mr.. Carnegie-"It Is true in the law
that ignorance of the law IL no ex-
cuse, but think that the man who
breaks the law innocently is TO be
viewed With very, very grave oonsid-
Grafton. II he erred. not against his
principle, but committed an error Or
crime, innocently. It makes all tile diff
ference between . rogue end an honest
man. meet a great many steel n.en
in my life. There IL not one who does
not now express q desire for regula-
tion. Take Judge Cary. He did not
believe in Government control in evcry-
thing. but consideration and study have
brought him to this belief"
Does not Judge Garys wish to have
his hand tied, lead suspicious man
am not 2 suspicious % man,to the be.
him much?' asked Stanley.
Here Attorney Reid. Mr.. Carnegie's
personal counsel. broke in. saying:
But Judge Gary is the man who put
;ss:!: & stop to the steel pools as early as
..And Instituted the Gary dinnners.' -
added Chairman Stanley.
Supreme Court had never passed on
the sherman law. Mr.. Stanley again
Ths sSprs%s Court = has .,;S never ss passed se
obey them. don't your
Ironmaster Again Punctual.
Mr.. Carnegie was asked to appear at
1890 o'clock today and he was punc-
tual. It was nearly II o'clock. how
ever. when the full committee showed
up.
Under the questioning Of Congress
man Beall, the ironmaster traced the
development Of the steel industry by
decades
oeal wanted KNOW ii In0
steel business developed as rapidly
session Of great corporations.
"Partncrships beat corporations
every time" said Mr.. Carnegie. "Whon
you have partners everybody IL there
breaks they are there to see that tho
part which replaces It Ia stronger
than the ono that broke. When we
were n parnership /! felt We could run
eorSor.ton is not IN f. witS tas ps9sners
managing their own business"
Mr.. Carnegie had q run in with
scnaSis price q steel ssiis. Uxss N MsmSsr.
OF the committee were attempting to
have the ironmastsr say at what
rs SIS ton an unreasonable price?''
asked Mr.. Gardner.
Il thinl, 1t is q liberal price," an
ewered Carnegie.
- am out of business" protested
tinony here about others. I don't want
well. answer this" persisted Mr..
when you sold out?'
Judge Reed His Mentor.
ct will ask the Judge" raid Carnegie.
turning to Judge J. A. Reed, his per-
sonal counsel. A litter ran about the
room
"AIr. Carnegie" said Gardner, with
considerable asperity. ct notice that
when we come to a real Interesting
question you do not answer"
II think have no business to criticise
my successors" was the positive an
swer Of the Scotchman.
You seem to want to consult the
judge on these interesting matters"
continued Gardner. "Now, the judge
ocslfass here answer ass ye1H that ,s Question
Judge can't answer" chucklod the Laird
"ies. that's what lawyer is for.
suggested Congressman Beall,
MT. Gardner continued:
You have been unable to inform us
about your book values, q bout the steel
pool agreements. and other Important
question You want to ask the yudee III" e!"
think you are unreasonable. Mr..
Gsrdner, interposed Mr.. Carnegie,
leaning forward in hrs chair.
he continued. II was not a philanthro.
pist, We, got the highest prices we
could when steel was high and the best
prices we could when steel was low.
Yes, but am not in your position"
TO answer questions"
Would Reserve Places.
IT wish the places were reversed"
said Mr.. Carnegie. rather solemnly.
You must have mercy"
Chairman Stanley read from q maga-
zine article in which the ironmaster
had told OF the passing Of the old days
Of active competition In great business.
Over the protest Of the counsel FOR the
Steel trust, Mr.. Carnegie expressed the
opinion that there Is little competition
IN large business today.
why has the age of con,net;t,o,,
passedT' asked Mr. BeaIl,
Because corporations are able To sit
down and by agreement fix prices"
Are you of the opinion the Federal
Goxernment should step in and take
IT think the time has arrived for the
Federal Government to come in and AN
a maximum price: favor something in
the nature OF an industrial COMMITS
sion, such as the Interstate Commerce
Commission. which has brought peace
and order out OF chaos in the railroad
Let me read my statement, gentle
men," continued Carnegie. ST prepared
my views before ever knew I would
be subpoenaed. and II contains my sug-
Eesions. You ought to read them be-