The times dispatch. [volume] (Richmond, Va.) 1903-1914, 1906-02-02


Governor Swanson. of Virginia. Is an
orator. but in his inaugural address yes
tcrtay he devoted little time to oratory.
There were n few flights here and there,
but In the main he spoke of practical
questions and in a political way.
We are pleased with u remark made at
the outset, that he soicits suggestions and
friendly advice. The Governor. after all.
is the agent of the people therefore, lie
should he approachable and his ear
should always he open to the humbIc.t
citizen who has complaint or who offers
:: hint He is not required to adopt all
suggestions that are made, but he is in
duty bound to give them respectful con-
sideration.
1t is we'll that our new Governor Is
profoundly impressed. as his eloquent tri-
butte shows, with the rich resources Of
Virginia and the possibilities Of develou-
ment, but we are disappointed that IN
speaking of the mineral wealth of the
State. he said nothing of the need of :,
geological survey. Virginia Is the only
Southern state, save Florida, which has
made no such survey within the past fifty
years.
The Governor emphasized that govern
ment creates no wealth; that wealth is
created by the labor of the people;
that honest government is that which
neither favors nor hinders the individual
in his endeavors. but gives 10 all equal
opportunity before the law to accumulate
and improve their condition, and exacts
no more in tribute than is necessary 20
defray the expenses of a government
economically administered That is De
mocracy.
Governor Swanson is man of affairs.
and he knows the value to a State of
system of laws which fully protects
property rights and encourages invest
ments. Our resources are enormous. and
the only thing that could stop the steady
stream of money now flowing into this
State would be hostile legislation. The
new Governor understands this right we'll,
and he warns the General Assembly
against the enactment of unreasonable
laws which YOU'D .tehfl to frighten CAPT
tai and retard development Especially
docs he speak of the Importance of rail-
roads in the work of development, and
recognizes that those who own the rail-
roads of Virginia are entitled to a fair
return on their investments.
Nevertheless, he declared that 1t must
be the policy of the State so to regulate
her railroads as to make them deal fairly
with the people, and restrict their charges
to living rates,
our policy said he. Should be such
as to give assurance to those who have
and will invest in such properties that
they may expect reasonable returns. and
Will receive from us honest. fair and just
treatment. But,-we should have it dis
unctiy understood that 50 far as we have
power 10 prohibit, that there shall be no
rebates, nor favortism 10 any shippers;
no discrimination against individuals,
sections or cities; no combination or pool
Ing to destroy competition ana Increase
rates: no exorbitant local rates destruc-
tive of Industries and retarding develop
nient; no local rates in excess of through
rates, thus permitting US to be undersold
IN the markets of our own State"
Fortunately, the Virginia railroads are
largely directed by men who are identi-
fed with the States interests, and they
are disposed not only to be fair, but to
do their part in the work of development
and progress.
Besides, there is the State Corporation
Commission always to he reckoned with
and there is no doubt about the inclina-
tions, affections and affiliations OF the
members OF that conservative body.
The Governor favors the creation OF Il
department of banking and insurance.
whose duty it would be 10 inspect, super
wise and In Il degree regulate the State
banks, and insurance companies doing
business in Virginia. The Times Dispatch
Is II believer IN the inspection system. but
we are not sure that a department OF
banking and insurance is enough needed
IN Virginia 10 Justify the expense of It,
Another recommendation of Governor
Swanson Is that life insurance compn1ffile,
doing business in this State 10 invest .
part of their reserve funds in safe viz.
.Eihia securities. loans, mortgages on prep.
critics, approximatng as near as possible
the amount required 10 the amount OF
Virginia premiums that go into tha re
serve funds,
We cannot agree that the State has any
moral right ~ make such a requirement
n ~ perfectly competent for the stat,
to require that Insurance reserves b,
safely invested; farther than that til,