The news & observer. [volume] (Raleigh, N.C.) 1894-current, 1905-10-15

With the green leaves WhlSpeiulS
overhead,
Or the. street-crieS all ABOUT,
Where l may read all at my ease
Both of the new and old,
For jolly good book where in to
look
Is better to me than gold
GOVERNMENT REGULATION OF
RAILROAD RATES by Hugo hicn-
ard Meyer, Assistant Prolessor 90
Economics i'm the University oi
Chicago. Publishers: The Macihh-
Ian Company, New YORK.
The bill now pending III ColSieos
for the regulation of railway rates IS
conceded on all sides to be Inc most
important legislative problem that
Congress has dealt with III Io!y
tcrest is felt i'll the question. On the
one hand are the giant railroad m
terests. closely interviewer with the
banking and commercial interests that
own stock in or dominate railroad
systems. and the army OF retainefs
embracing many Of the aDlest law
vcrs in every State, not rev heWSpa-
pers. a multitude OIL poiie-csdlls VI d,
partics who have received faVorS ana
look for future favors from these
great corporations which have grown
So powerful that. allied with the great
trusts and insurance corporations,
tbcir mower has come to be q menace
tn safe legislation and in the honeSt
cvccution of laws. The same circle
of men who dominate the railroads
also control the three big insurance
companies in New York, shown to be
rocking with fraud, dominate and con-
troll the giant banks and trust compa-
nics i'm the great business martS OF
the world. They arrogate to them
selves not only the right to controi
the business in which thew money Is
invested but TO dictate State and Ma
t:onal legislation and too often they
have secured the appointment OF thclr
attorneys on the bench to pervert JUS
tice. and il has not been unknown that
executives were willing VaSSaiS to thrS
giant overload of Monopoly that seeks
To be more powerful than the people
and the government the people formed
in blood and sacrifice. That powerful
tIass rs resolved to have no govern
mcnt regulation of railroad rates. Ihey
could not prevent the creation OF Rail
road Commissions for in their STATE
Governments the people have a larger
voice than in National legislation. But
in many instances they have prevent
ed the natural good results that were
expected from the creation of Kali
road Commissions by securing the Sc
lection of men under their influence or
lind men who preferred to draw their
salaries in a do-nothing way than to
fight monopoly and its greed. as seen
in the increasing freight rates and the
evasion Of just taxation.
To tho natural forces and allies OPP
posing government railroad regulation
of rates is opposed the manufacturers
and shippers who are not vassals OF
the great banks and trusts, or who
have no special privilege or rebate III
the shape of free passes or some other
form of silencing men who might lead
for real reform in railroad regulation.
and the army of American consumers
who are the Joneses who pay the
freight They have no paid attor-
neys. no subsidized newspapers. no
politicians under pc nuliar obligations
and no colleges endowed with the
tainted money of monopoly TO teach
the doctrine that Might is Right
nothing except the demand for JUS
ticc and square deal. Recently.
without excuse, when the railroads are
prospecting beyond their fairest dreams
aS a. result Of the industry oil the pcO-
pie. they have seen freight rates great
IN advance either by a change in classl-
fication or some other of the circum-
locution methods railroads employ to
increase their earnings when they Wish
to pay dividends on Watered stock.
At the hearing before the Senate
Committee of the Interstate Com
mcrce Commission in Washington last
MAY professor-of course he was
from Rockefeller's Chicago University
was heard and he was cooked and
prmed with figures to prove that
Government rate regulation would be
a great evil TO the country. His testi-
mouy was widely heralded by the rail-
road literary bureau and now he has
amplifed the testimony in the new
book that is before u.s. 1t is the
strongest argument against regulation
of railroad rates that has appeared.
If is natural that the ablest opponent
should come from Chicago University,
whose owner has come to be the own
or and controller also of the destinies
of some of the greatest railways in
America, and who is understood to be
i'm the seats of the mighty that make
up the inner circle of the transport
fation trust in America.
We are told that when Prof. Meyer
began the study of economics he had
Il strong bias in favor Of Socialism
Gu term designedly used to slur at
the army of good men who favor gov
ernment regulation against the pres
ent irresponsible and selfish manage
ment or the necessity of government
ownership that he came out of