New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1905-05-07

The railway rates Of this country, but simply
that when the rate which the railroads have
themselves put il effect is found unreasonable
that ate shall be made right.
DIRECTORS CANNOT BE TRUSTED.
It is urged that this Is unnecessary because
the men who manage our railroads are public
spirited. Christian men,
Is John D. Rockefeller a bad man? Does he
not lead class in Sunday school? Is not
his heart warm toward the heather, but does
this afford reason why laws should not be
enacted, if they can be. to prevent his monopoly
from expressing the public? A justice of the
! Supreme Court Of the United AAtes, in ad-
| dressing a Washington audience the other even
| ing. is reported to have said that what We
| needed for the mitigation of trusts and mo-
| nopoes was not more legislation but an ap-
plieation of the Golden Rule. 1t won't work
Our freight rates would be just as high and
just as discriminating if every meeting of a
traffic association which fixes those rates were
opened with prayer and closed with a benedic-
ton
Let US be honest. Let US admit that the aver
age man. having the opportunity and the brains,
would do what Mr.. Rockefeller has done. Let
US be sensible. Let us recognize the fact that
human nature is alike the world over; that
man. having the power to take unto himself
viii do so. even at the expense of his fellow men
1t IS earnestly insisted that any attempt TO
protect the public by the prescribing of rail-
way rate for the future is the Grossest paternaI-
ISM. The dictionary affords no very satisfac-
tory definition of that word paternalism. AS
used in this connection paternaIism seems to
be any legislation intended to prevent erfact
lively @ monopolist from stealing all he can and
Keeping all he can steal. The true function Of
government is to afford each man a fair chance
n4L 10 compel my brother to give me bread of
when eat, but to furnish a Just oppor-
IuInty 10 compete with him. Any law or any
condition which enables my brother TO take
from me un1ustly is wrong and there is no
nIgner junction Of government than to correct
that wrong. In our land to-day railway trans
portation is the life blood of commercial ac-
tvity. No industry and no locality can f1our-
ism II that vital fluid be contaminated The
government has not discharged its duty until II
eraolcates every faint If it be paternalism
terring the Standard Oil Company to its com
petltor IN the only possible way in which that
can be done. then am for paternaIism IF n
be paternalism TO prohibit the SO. 100000 900
which are to-day invested in our RAILWAYS from
Cn3nsty preying upon the remaining billions
which have come to be at their complete mere,
'leh paterhahsm 10 that extent is my creed
THE CONSEQUENCES.
The argument most frequently made against
the adoption of the Presidents policy is the in
competency OF the Interstate Commerce Com
mission. For the purpose Of my argument NAV
NJ
petent If so, make it competent respectfully
suggest that this talk about the inconnatApcI,
Of the Interstate Commerce Commission is 70
divert public attention from the real point at
issue.
The railroads are sending out tons OF matter
showing the amount Of railroad bonds and rail-
road stocks held by the savings banks. the trust
companies. the insurance companies and such
like OF this country. What does all this mean?
IL can only mean when put into words that a
government tribunal endowed with the right 10
nix a railway rate would make that rate so low
as TO impair the value of railway stocks and
bonds With reference to that suggestion two
things should be said.
First-If that tribunal were so disposed II
could not seriously impair the value Of these
securities. The Fourteenth Amendment to the
constitution Of the United States gives railroad
companies absolute protection against such ac-
ton by the legislative branch of our governments
or any commission
second-Suppose this tribunal could confscate
me railway property Of this country why should
II Geslre TO do so? II will not be a body of an
aLcnlsts. There is no why its members
sIiculu not De as conservative those of any
tribunal. Why should they make an onslaught
on ralroad investments? Personally [ believe
thal cur railways should be allowed a fair re-
turn upon their legitimate Investment | he
lieve 1t would be the height Of folly TO attempt
10 compel them to charge rates not Welding a
ialr return When Mr.. Hill builds d railroad
rom the mead OF Lake Superior to Puget Sound
he is public benefactor He NAV MOI he actu-
ateo and he is not actuated by motives of char
ity, put the result is none the less a public
dement, he deserves a rich reward Mr. Hill
mas said In testimony before our commission that
4 per cent upon railroad investment was
enough. personally, ] would not object TO Mr.
Hill earning, II he fairly can a return OF per
cent upon every dollar honestly invested in the
Great Northern Railroad and its equipment bur