OCR Interpretation


The day book. (Chicago, Ill.) 1911-1917, January 12, 1912, Image 1

Image and text provided by University of Illinois at Urbana-Champaign Library, Urbana, IL

Persistent link: http://chroniclingamerica.loc.gov/lccn/sn83045487/1912-01-12/ed-1/seq-1/

What is OCR?


Thumbnail for

jwv&rf's?
THE DAY BOOK
'ggfr398
500 SO. PEORIA ST.-
TEL. MONROE 353
Vbb 1, No. 92
Chicago, Friday.Jan. 12, 1912
One Cent
CARNEGI& LAUGHS AT SHERMAN LAW AS SOLUTION
OF THE PROBLEM OF THE TRUSTS
Washington, D. C, Jan. 12.
Question by Rep. Sterling: Do
you think the Dingley Tariff law
had any effect on the price of steel
Mr. Carnegie?
Carnegie: The tariff could
have"no effect. on the price of
steel.
Sterling: Doesn't the' steel in
dustry need protection?
Carnegie: No. America today
makes more steel than all the rest
of the wo'rld. You legislators
needn't bother your head pro
tecting the steel industry. It
doesn't need any protection.
Rep. Bartlett: Do you think
the strong hand of the law must
be invoked to prevent great cor
porations charging excessive
prices, Mr. Carnegie?
Carnegie: I do. You can't trust
human nature. Any man is jus
tified in "doing anything he can
under the law.
Rep. Gardner: Do you believe
the dissolution of the Steel Trust
would reduce the price of steel to
the consumer? ,
Carnegie : I do not. The parts
into which it was divided would
just get together and fix prices,
and arrange pools. ,
. Gardner: Wouldn't it permit
the" organization of new steel,
companies?
Carnegie: You cannot organ
ize new steel companies now, be
cause you couldn't buy one.
Gardner:' There's the. Hill
lease in Minnesota. That expires
in 1915" arid will release 5,000,000
tons of ore in tlie Mesba region
on Lake Superior.
Carnegie, grinning: You don't
think the Steel Trust would ever
have released that land from
their control if 'if were a profit
able investment, .do you ?;
. ' . -
And there you are!
The Steel Trust, under the sha
dow of the 'tariff, has .grown so
big it doesn't 'care a whoop about
tariffs. '
It is necessary tto use the
'strong hand o'f-fhe law." which
Rep. Bartlett' dragged out of" the
cannery for the occa'sion, to fotce
the trusts to reduce prices to the
consumers.
But the Sherman ' law isn't
worth a whoop either, . It doesn't
Shermanize the trusts, nor dis
solve them, nor have any effect
except making them buy new of
fice statioherjr.
And Uie Steel Trust has hog
ged very single little available
piece of ore land in these United
States.
In fact, the people might as
tftejitffrrfi ii idiWMwj jm
X fcffj

xml | txt