The Birmingham age-herald., 1912-01-12
he business?e MT. Gardner asked.

the business?' MT. Gardner asked.
 T would like 10 ask my counsel a question: witness replied.
 q tbink your questions are a bit un- reasonable" retorted the cross exam iner
 MT. Carnegie. in view of the ex- animation for the last two days," said MT. Gardner, 'T do nst think I am un- reasonable. It seems to me you are too reticent and reluctant to answer questions. You were unable to tell us about the steel plate pools, you could tell us nothing about the book value of your property, and now we ask you about what you thought a fair price of rails should be- You turn to your counsel here for advice"
 q turn to him because at that time there might have been a boom in rails and the price had been up.' replied witness.
 T do not think s2s an unreasonable price" MT. Carnegie continued. "If there was a boom, the price would have been higher. I was in the business of making money and wanted the highest prices I could get. If I wanted to sell for $50 and the consumer was satisfied to Buy at that price, that would not be unfair, would it?"
 ''IIas there been the same grade of progress in the steel business since the
 
 of the industry?"
 q do not believe that any corporation can manage a business like partner ship" witness said. "When we were part ners I felt that we could run around cor porations. You take 35 young men inter- ested in watching even leak in spigot and no corporation can compete with such an organization in any business" George Perkins came to me one day." continued witness, and said: MT. Car negie you once told me about your part nership organization and I thought 1t was foolish. Now know you were right
 Tt is the same thing with the man who owns the land and tills it. Take Iowa, for instance. When young man I went to Iowa on a holiday. There l saw those beautiful farms, those homes of triumph- ant democracy; those young men. They owned their lands, their homes. Great Caesar what can a big farmipg corn2ra- ton do against such a condition as that? {? The man who owns the land; the man there is the equal of any other man in triumphant democracy.
 "Why I have loved Iowa ever since I saw that picture"
 Surprised at Trusts
 MT. Carnegie declared he had no idea the American people would permit the organization of such trusts as have grown
 
 regulation. The iron magnate said he did not know the Sherman law inter- fered with his company. He said he would not punish millionaires for the sake of other millionaires, but would pun ish them for the masses. He declared he was not vindictive.
 Witness reiterated his tariff views He declared the steel industry needed no pro- tective tariff and Congress need have no fear that foreign steel would flood the American markets.
 He declared the time Of competition had passed because of the ability of manufacturers to fix and maintain prices continuing:
 Men nowadays are able to sit down and maintain prices"
 "Does this destroy competition?"
 "Certainly,'' he replied. Men in these corporations meet to fix and maintain prices
 DO you believe they do tllis?'' asked the inquisitor.
 That is obvious"
 MT. Carnegie was asked if he held the same views of two years ago when he urged governmental regulation of prices T still adhere to them,' he answered. .I believe the government should regu- late maximum prices.
 "Don't you think 1t an unfortunate con- dition?'
 q think tho time has arrived when that is necessary and I point to the interstate commerce commission which has brought peace and justice out of chaos in the rail- road world
 Knox Is Silent
 Secretary of State Knox tonight de- ciined to comment on Andrew earnegie.s testimony. The inference that MT. Knox was appointed Attorney General by Pres ident Mckinley in 1901 on MT. Carnegie's 8 recommendation was, however. character ized as absurd" by an intimate friend of the Secretary of State who spoke in his behalf. He said a recital of the facts showed Mr. Knox's entry into the Mckinley cabinet easily disproved MT. Carnegie $ inference and pointed out that MT. Me- <inley first offered him the portfolio on February 11, 1897, when the newspapers devoted much space to the offer and MT. I<nox's declination. Mr. Knox was in Santa Barbara when the post was next | rendered to him in March, 1901 He was requested to come to Washington, and after a conference accepted at the in- sistance of President Mckinley on March l 20 MT. McKinley's desire to have MT. Knox in the cabinet was said to have been based on personal friendship of l 9 years.