The Minneapolis journal. [volume] (Minneapolis, Minn.) 1888-1939, 1904-12-17
Business and Politics.

u Altho it is early yet to think about
tthe new year, there are some things
lin sight bearing upon conditions for
1905 definite enough to invite atten-
ton. Already it is clear that there
will be period of closer relationship
between general business sentiment
and governmental action, for two ques-
tions that for several years have been
slowly forging ahead against the OBJ
struction and Encouragement OF ultra
conservatism have come out at last into
the open They bear directly upon
commerce and fnance-the questions Of
reciprocity, or some measure OF tariff
revision, and that Of greater public
control or governmental supervision OF
railroad affairs.
@S The first, tho important economically
as anything that could well arise, can
scarcely be said to have as yet reached
the point where business men need enter
into critical study Of it as likely to
affect themselves Individually, for the
plans Of it's advocates are not yet def
mite; tariff revision legislation is not
lkely to develop hastily, and is the
last thing to become law without long
drawn-out controversy, full exposition
OF the good and bad in anything pro-
posed, and the widest general publicity.
The other question is the live one,
with possibilities of more immediate
sesults.
In his suggestion that the matter of
clothing the Interstate commerce COM
RI.
cred, the president did no more than
10 bring to the attention of congress
o condition that has long been widely
commented upon by railroad men and
shippers alike-the ability of the COM
mission to investigate, but its lack Of
power to apply remedy.
5 No sooner, however, had the presi-
dent IS recommendation appeared than
8 counter current Of opposition arose
against it, based not only upon the
dissatisfaction Of the railroads with
what some have termed "federal inter
ference,'' but upon the contention that,
by virtually putting the rate-making
power into the hands Of the commission,
conditions will speedily develop that
will unsettle business generally. Fol
lowing the Ripley dinner in New York
at which the opposing sentiment shaped
itself, number of other centers OF
hostility were soon heard from, ane
with the appearance OF tentative
plan of action drawn by Secretary Nor
ton, and the hearing on the Cooper
Ouarles bill before the senate commit
tee on interstate commerce, good
sized railroad scare developed.
. Really there is no reason why this
matter should unsettle business during
the coming year. Sooner or later the
rights and powers of the railroads will
have to be more closely defined, ant
the railroads themselves, by thei
mighty combinations and consolidation
and their disregard Of the public inter
est in some notable interests, are re
sponsible for anything in public senti
ment that may appear to tend toward
government ownership or "confsca
tion.''
There is, however, no ground for rea
sonable apprehension that radical re
A form, proceeding to the extent of gov
eminent ownership, or even embarrass
ing restraint upon the operations Of tn
railroads, will result from this presen
agitation. Certainly there is no pu1
pose on the part Of the president or tn
business interests to produce such a n
suit Nor is there likely to be that d.
gree Of stubborn resistance on the pal
of railroad managers to reasonable pull
s4 lie demands which there seemed, quit
III raopnf1v RI ha reason n faar Pres
dent Stickney, Of The Great Western
President Cassatt of the Pennsylvani
Senator Depew, representing the Va
derbilt interests, and others infuenti;
in railroad circles, are discussing tn
matter in such a way as to indicate ths
the railroad men themselves are begil
ming to realize the wisdom of meetiI
the president and the business public {
the plane Of fair and equitable adjus
ment.
So it appears that while the new we,
i is likely to introduce some peculiar CO.
ditions affecting business generally thl
the medium of public agitation and co
gressional action, the temper Of tho
engaged in the consideration Of the
matters, with one or two notable exec
tions, is such that conclusions should
reached and adjustments made witho
material disturbance, financially or col
mercially. Nobody agitating for I
form in railroad service wants what
unreasonable, or at least, when the thi1
is thoroly thrashed out, the reasonab
will be the result, and that is not like
H to be detrimental to substantial busine
interests or legitimate investment.
There may be no connection betwe