The Montgomery advertiser., 1906-10-26
President of Southern Railway Makes Fine Exposition of Trans portation and Corporations
 and Their Functions.

portation and Corporations
 and Their Functions.
 rlivered yesterday at the Far grounds 6y President Samuel SSencer Of the southern Railway is as follows:
 MT. President, Ladies and. Gentiemen: ] welcome this opportunity to ad-
 terests of the State of Alabama. Born
 and reared in the South, and identified | by my lifes work with southern inter
 ests. feel that have a sight to speak 1 the spirit of that relationship. and
 with an earnest purpose to assist m | bringing to a better understanding the of our section and country. have L come, at the invitation of the President Of the Alabama Agricultural Assocla- ton. to address you today on The Re- lationship of the Railroads to the Peo- pie
 When this invitation first reached me. hesitated as to the wisdom of my the tS say ms of acute political excitement are not congenial to the just and ReAsorabie settlement of economic and business as they do the sD commercsai safety and prosperity of the. country, they should be considered only in spirit of calm termined amid the. excitements. mis- represen tations and disturbing infu- ences of the political hustfngs. and the determ'hation should 6e founded in prehension or impulse.
 Thee American people have recently been passinE through q period of in-
 h raseset sfnoa af ana and eo
 mercial conditions. Laying aside the , issues which have divided parties for l on economic agitations. Everything | relating to the business interests of l the people has been drawn into the | arena of excited popular sentiment and debate. The honesty of iduciary rela :: | tionships. the accountability of men of great power and great wealth to their fellow men. the regulation and control utilities. have received the focused at- tention and excited the universal inter- ! est of the people. Under the influence pose, some gross abuses have been un- covered. Prompted by these disclos- ures, it Is little to be wondered at that the popular Judgment has become dis turbed and the conclusion hastily and unjustly reached that all important in- terests merit popular suspicion and dls- trust. Realization of the extent and
  caused me to doubt whether at this juncture it was wise for me to enter upon a discussion of any question within the range of the existing popu-
 Impressed, however. by the fact that this is a gathering of the substantial producing and shipping interests of this State. and wishing to come into closer touch with our patrons and the public on whose approval and good will the interests l represent are so largely de. pendent, and earnestly desiring at al, times to aid If possible in a just solu- ton of the momentous problem, I have put aside my doubts and am here in obedience to the request of your Presi- dent
 The Railroad Manager.
 The railroad managers position his relationship to the public, on the one hand, and to the properties he repre- sents and for the successful manage nient of which he is responsible, on the. other-has, undergone radical changes in recent years. A half cen. tury ago the need of the people and development of the country through the establishment or transportation facill- ties. Possessed of the virgin and un- touched wealth of a continent. rich in it's agricultural possibilities. the need of a market was the pressing and im- perative necessity of the people: ITO was not simply invited, but was urged. to establish the needed transportation facilities. Public sentiment did not merely justify. but. with practical unamimiiy, oe.nanaea the granting not only ot cnart.rs to raliroad companies, but governmental financial aId and en- courdgement as Well IL must De borne In mlnd that such inducements were at that time needed, Tor Tn the uncertainty attending these expcrimeh- tai enterprises, private capital was re- tuctant to embark in them.
 lal PXcHDIl0n rule or governmental encouragement It's general statutes and the chaftels granted by its General Assembly ih response to the sentiments of It's peo. pie, make history of public aid ana encouragement to the building of ralI- roads, and contain no hint or antagon- istic public sentiment or of an uiti- mate purpose of severe or drastic public control. or injury.
 Under these circumstances. these un dertaklngs, so favored by the state. enterprises especially favored by pubic policy-prlvate enterprises established tC provide for d JJblic necessity. 1t is true, but still private enterprises p;ss w,in in by the adequate provisions ot the com mon law
 But notwithstanding the public and governmental favor thus extended notwithstanding the substantial free dom from governmental interference In their management-thereW were very IGW raitrOdu enterprises III tHe South which could at first maintain them selve s.The history of many of them Was history of bankruptcy and dis. aster until the weak and disjointed properties were amalgamated so as to afford continuous transportation, and open the markets of the world to Southern products in competition with those of the other sections and of other countries.
 Regulation of Power.
 With that amalgamatiOn of proper ties and its consequent public good. came great power-exaggerated per power, over the interests of commodi- ties, localities and persons. and with 1t Il demand for public regulation It must be admitted that this demand, within just and reasonable limits, is based in sound reason. There must be some adequate remedy for the misuse Of power affecting great public inter ests. but important as Is the creation of the remedy. no less important are some limitations In the progress of time, the public aspect of th!s question has become entirely reversed The pendulum has swung from an extreme on the one side to an extreme on the other. As in the inception Of railroad construction. the public relations of the properties were largely lost sight of so now, m reaction, the public char ter of the enterprises Is almost the only thing recognized or considered, and the private rights of the owners are, in the political thought of the day, almost, If not entirely forgotten
 Justice. however, lies between the two extremes. These properties and their owners should be required to