Omaha daily bee. (Omaha [Neb.]) 187?-1922, 1906-03-16

the proposed law be enacted.
The senate must determine by its vote
what shall be its attitude upon the dues-
lions OF court review and interlocutory sus-
to giving relief to the producing interests
Of the country revolves around this feature
OF the bill II any decision Of the fupreiue
less 20 grant speedy relief through COM
mission, It needs no prophet to toll that
an outburst Of surprise and indignation will
sweep over the country.
Gross and Net Earnings.
Commenting on the gross earnings and the
net earnings Of railroad properties Mr.. Thu
man said that once a year every dollar IN
the United States passes through the hands
OF the railroads and every three years
becomes a part Of their net earnings He
asked II it is any wonder that the railroads
have the most brilliant legal minds at
their command to conduct legislation and
asserted the struggle is between man and
money; citizenship and capital. He dis
cussed at length the building OF great for
tunes and the manipulation Of great prop
critics. Summing UP the situation, he said:
1T is impossible 10 deny that this great
accumulation Of wealth in the hands OF the
few is such a menace to liberty that the
honest patriot stands appalled, by the
outlook"
After commenting at length upon what
he declared TO be the existing system of
juggling with railroad properties FOR the
robbery of the masses" Mr. Tillman stated
that this phase of the subject brings into
great prominence and Importance 1.-THE
relation to congress OF the increase In
capitalize ton, whether 1t is the purpose
OF congress to compel the business in
dustries 20 pay dividends not upon the
real value OF these properties, but on the
fictitious value which has been sought to
be placed upon them by the increased
capitalization.
one Dangerous Provision.
Concerning the application OF the bill to
this subject he said:
There is a dangerous provision in this
stricken out and that is in Section Is.
where the interstate commerce commission
will, in its judgment be the just and rea-
sonable and fairly remunerative rate" etc.
The last words are too elastic and
ambiguous and can be construed to mean
too much that it would be harmful and
dangerous for congress to enact into law.
actual value Of the fictitious value OF the
properties.
Mr.. Tillman declared there can be no
justice in compelling the people as a whole
to pay dividends on watered stock primarily
to increase the fortunes Of men already
too rich. He contendeG That 1.-THE poor
dupes," who have been led to invest their
savings in such stocks can better afford
to lose those earnings than to have the
labor Of the country saddled with the
burden of saying perpetual tribute in the
shape OF dividends on dishonest valuations.
Mr.. Tillman recommended that amend
ments TO the bill be adopted which would
give relief to the anomalous and out
n condition ~ aff 70
existing in West Virginia"
Continuing, he said:
Robbers and Railroads.
Vested with the rights Of eminent domain
to construct their lines and granted liberal
franchises and charters, the railroads, de-
signed to be public carriers for the benefit
OF the whole people IN che last few years
nave become rapidly transformed into the
yeriest band Of robbers-high who
do not thrust their pistols in the faces of
their victims and demand money or their
lives, but who levy tribute in freight rates
which are as high as the traffic will bear,
brazen efrrontry one OF the prime neces-
sariess Of life--coal--ane In every way show
their absolute contempt for the people and
the peoples rights.
Mr.. Tillman concluded with q word of
caution to the friends OF the proposed
legislation He said: ~ 7. F'.'' '.
The demand Of the people for relief from
the expressions and wrongs they now en-
ence of the railroad corporations This in
| fiuence has hitherto been important, and
feel that it is safe to redress the grew
ances and to continue the policy OF non
Interference.
Such action on their part will, in my
| judgment be very unwise and will only
! dam up the water. The issue will be made
the paramount one in the next election
and those who are responsible for delay or
| inadequate legislation will find that when
at last the foodgates Of popular wrath and
! Indignation are hoisted there will be some
| grinding tone. II those most interested in
these great properties VIII not consent TO
| wise legislation 70 relieve the distress OF
| policies and leaders coming to the front
| with the result that legislation far more
| drastic and dangerous than anything pro-
| posed in this bill and the amendments to
| be offered will be enacted
NewIahds ON Bill.
Senator Newland idea of the bill was
presented by Mr.. Tillman.
Mr. Newlands said that while he has
Joined in the report on the Hepburn bill
and is in sympathy with it's general pur-
poses, he thought that it is incomplete and
fragmentary He expressed his belief that
the legislation would not be as effective
as II should be unless there were added
to the pending measures provisions for
the incorporation of railways engaged in
interstate commerce guarding against
over-capitalization, fixing with certainty
the rule for tine taxation of such railway
property by the states and prescribing a
hxed limit for dividends.
Such legislation he contended should not
simply cover the interests Of the shippers
and the common carriers-it should en-
brace the. interests of labor by providing
for an insurance fund against accidents
and old age and for Cancellation of dis
putes between carriers and, their en-
ployes.
Senator NeSlands discussed corporate
activity in politics. saying IL has been in
creasinE since 1896. Corporations are in
politics. the senator declared because they
feel that their property may at any. time
be the subject OF attacks either by legis-
lators or by administrative officers.
He said that when he introduced reso-
luton creating = commission 20 frame a
national Incorporation act for railroads he
believed il unnecessary 10 seek either
the cooperation or the consent OF the
state. But today he said. upon reflection
he was convinced it was wiser 10 secure
the cooperation Of both the United States
and the states. National Incorporation
he contended, contemplated a general law