The Birmingham age-herald., 1904-03-27
Treat Capital Fairly.


 roads in the present contest over the nomination for president of the rail road commission are not promoting the Prosperity of the state. Alabama was never more prosperous than it is today. It never was richer. Even ante.bellum days are exceeded in this period of lumber coal, iron, naval stores, cottonseed oil and cotton man ufacturing. We are even making more cotton than we did before the war. Can we afford to disturb or retard or interfere with this upgrade tendency of the state?
 The citizen who will stop a moment to think will see at a glance that out side capital invested in railroad con- struction has made our new Alabama. The mineral district of this state, pro ducing about 12,000, ,O00 tons of coal and nearly two million tons of pig iron annually would not exist at all if out side capital had not woven in 1t a net railroad touches so many mines and mills that scarcely anyone can de- scribe or map it. Let it be remem- bered that home capital did not build the Mineral Belt and other railroads in this state They were built by in- vestors living elsewhere, and upon their investments has risen our new and prosperous Alabama. Today out side investors are spending eight mii- lion dollars in building a line between Atlanta and Birmingham for the Sea board Air Line. Pretty soon the Hi nois Central will do likewise, and it is difficult to say how many more will come in. So it is to some extent at least in other sections of the state.
 Let no one think that we can slash railroad rates without discrimination can run amuclS, as it were-without driving away outside capital, thus stopping new railroad construction, Capital is proyerbially timid, and many fields invite it. Alabama is by no means the only opportunity it has. Most as suredly any slashing of home rates by any fixed percentage would certainly deprive the state of additional capital for railroad construction, whatever it might do in the management and op- eration of lines already built.
 Conservative business men in every part of the state should turn this sub ject about and apply it to their own branch of business or to their particu- lar industry. Let them consider what the old lines of railroads are to the state, and what new lines could do in It's further development. Let them re- member that capital is provefbially shy--that railroad investors are apt to become investors in other directions in a district-that all investors might be- come distrustful of Alabama-that in other words it is best to let well enough alone esDecially when the state is prospering beyond all precedent in its entire history.
 True, there are beyond doubt in equalities in railroad rates in this state, but these can best be corrected and rendered consistent by conserya- tive men, and any attempt at adjust ment by biased men, inflamed against the railroads, would be hurtful to the state, and especially to this district, and really to all citizens. We cannot treat capital unjustly and expect it to flow this way in unchecked volume. Elect fair-minded men to the board of railroad commissioners; be just to in yestors as well as consumers; consider the subject in broad and compre- hensive manner, and turn deaf ear to all who would tear down instead of building up.