The evening times. [volume] (Grand Forks, N.D.) 1906-1914, 1912-02-14

Il never dtd," said Mr. Hill. Any
reports Of that kind were untrue"
Just before the railroad builder was
excused. Representative Beall Of
Texas called his attention to the dec
larations Of e. H. Gary. chairman Of
the board Of the steel corporation, and
other business men, to the effect that
the day Of competition was passed in
this country, aud that the time was at
hand when the government must reg
ulate maximum and minimum prices
Of commodities.
II think you will have to tame hui
man nature and eliminate all selfish
motives that rule human beings and
every other form Of life, before you
will eliminate competition" remarked
Mr.: Hill: There will be competition
Just 80 long as the doctrine Of the
survival Of the fittest' lasts, ana that
will be operating long after all our
present statutes have been wiped off
the books"
do you think. then. it would be I'M
wise for h federal government to as
sumo control Of BUSINESS" asked MT.
Beall.
II think when the federal govern
ment does that 1t will be q very short
step until there will be no federal
government" was Mr.. Hills reply.
You think that such q government
wouldn't be much like 4 republic?"
1T would be 3 monarchy" return
ed Mr.. Hill.
Chairman Stanley asked MI. Hill il
he thought big corporations. opera
ting under a new golden rule Of
business" aided by the government
in fixing prices and preventing them
from hurting each other. but not pre-
venting them from crushing labor.
would aid in holding society together.
How long do you think this gov
eminent would last under such con-
ditions?" asked Mr.. Stanley.
oh. We might last a week." MIR.
Hill smilingly replied.
Then YOU don't believe the United
States should undertake to regulate
business" Mr.. Reall resumed.
Il would lay down the Law Of right
and wrong" said Mr.. Hill. IT would
limit the power OF corporations. 1
would see that every corporation that
started business put all the money in.
and would not be jealous on account
wouldn't permit any watering Of
stock. I would E that 100 cents on
every dollar was put up and that
money was on hand to take care Of
We'll. you tried a railroad eombina.
ton once. didn't you:" asked Repre-
sentative Bartlett, referring to the
Northern Securities Ease. The gov
eminent didn't let YOU carry it out
and you are still doing 4 profitable
railroad business"
Yes. and not making any COM
plant" replied MI. Hill.
Mr.. Beall asked again il the wit
ness had faith in competition.
&C., >I 80 . ~ - O.
answered: Il feel like the man
came and asked the husband If she
were resigned. He replied that she
wss not. I haven't resigned faith in
competition. I don't think It u with
in the power Of mar to eliminate com
petition. When we are translated We
may get along without competition.
Until then We must be satisfied to
as fast - our forbears did"
dc you think We a trust COM
petition to deal with our complex
business problems?" was asked.
Il don't know Of n overgrown
corporation that established itself in
success permenantely," answer Mr..
Hill. The Standard OIL company
came nearest TO it Of any"
Mr.. Hill told the committee he paid
iilSto MSISAStVu W bPSCuIutlOu anu ulu
not think men who made speculative
prices in Wall street knew much
about actual conditions in mines
1900 miles away. He predicted, TAX
ing issue with Commissioner Of Cor
porations Herbert Knox Smith. that
the ores in the Hill lease. held by the
steel corporation as worth 81 a ton,
would 800 he worth $50 to s: roy
atty a ton. He also predicted that be-
fore many years pig iron could be laid
down in Brooklyn from China for 81
a ton.
Mr.. HUI aroused some interest when
he said Frederick Weyerhauser. the
lumber magnate. had refused to pay
$4,000 for the fee to the Wright and
Davis lands. which he aftefWard
bought as the major portion OF the
land leased to the steel corporation
and containing iron ore estimated at
400. 600, 900 tons.
IT think Mr.. weyerhaeuser made q
mistake" said Mr.. Hill.
Mr.. Hill said he thought 1t was very
important for the steel corporation to
get control Of all the ore Il could.
And We are not wearing any crepe
because they have decided to cancel
tho lease on our ore lands" Mr.. Hill
observed. We were not anxious to
make that lease"
You knew that Judge Gary didn't
want 10 make that lease?" asked Mr..
"Didnt he." asked Mr.. HIN. HE
never told me SOL didn't chase after
them. Mr.. Gary signed 1t. Some Of
the directors thought the price was
high"