The Birmingham age-herald. [volume] (Birmingham, Ala.) 1902-1950, 1906-03-16

| ton of great properties. Summing up the
| situation he said
ct is impossible to 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 I'M
! portance the relation to Congress of the
increase in capitalization: whether 1t Is
the purpose of Congress to compel the
business industries to 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 in
creased capitalization. Concerning the
application of the bill to this subject he
said:
Words Are Too Elastic.
There is a dangerous provision in this
bill which, in my Judgment, ought to be
stricken out, and that Is in section 10,
where the interstate commerce commits
sion is told to determine and prescribe
what will, in its judgment, be the just
and reasonable and fairly remunerative
rate etc. The last words are too elastic
and ambiguous. ;. 4.A
Fairly remunerative rate on what;
the actual value or the fictitious values
of the properties? Are railroads which
now pay no dividends because of the Inn
mense amounts of watered stock to be
allowed to compel the producers who use
their lines to pay a dividend on the excess
sive capitalization e<-'
Mr.. rillman declared that there can
be no justice in compelling the people as
whole to pay dividends on watered stock
primarily to Increase the fortunes of men
already too rich.
He recommended that amendments to
the bill be adopted which would give re-
| lief to the anomalous and outrageous
condition of affairs disclosed as existing
| in West Virginia"
Continuing, he said: Vested with the
rights of each dominant to construct their
line and granted liberal franchises and
charters, the railroads. designed to be
public carriers for the benefit of the
whole people in the last few years have
become rapidly Transformed into the
veriest band of robbers-highwaym who
do not thrust their pistols in the faces of
their victims and demand their money
or their lives, but will levy tribute in
freight rates which are as high as the
traffic will bear, deny access to market
monopolize with brazen effrontery one of
the prime necessarles of life-coal--and in
every way show their absolute contempt
for the people and the peoples rights.
1--WE should incorporate in the bill an
amendment which will compel all rail-
roads to make connections with any and
every other railroad. public or private,
! and grant just and fair traffic arrange
ments; also a provision to divorce alb
solutely the business of transporting
freight as a public carrier and the bust
ness Of producing freight to be trans
ported"
Mr.. Tlllman concluded with word of
caution. to the friends Of the proposed
Legislation. lie said:
Warns the Railroads.
Our full expectations may not be real
lied at the present session of Congress
The demand of the people for relief from
expressions and wrongs they now endure
may be thwarted by the great Influence
of the railroad corporations. This influence
has hitherto been paramount and its rep
| resentatives In the two Houses may feel
that IL is safe 10 refuse to redress the
grievances and Ia continue the policy Of