The Topeka state journal. [volume] (Topeka, Kansas) 1892-1980, 1906-10-06

sell for to the local coal dealer and
also the price the local dealer shall
charge the public II he sells for any
less they VIII refuse to supply him with
coal and he VIII be driven out Of bust
ness. A man may own a hundred
acres of the rich anthracite coal land
OF central Pennsylvania, yet ne can
not realize anything from II, unless ne
makes a deal of some kind with these
railroads, because it IS impossible Tor
him to get to market except over the
railroad lines that are his competitors.
THE railroads are gradually secur-
ing the bituminous fields of the MIS-
sissippi valley. They now control the
greater part of this coal supply, and
if il had not been for the courage ana
fearlessness Of Senator LaFoltette OF
Wisconsin last winter they would nave
secured the larger part OF the rlch coal
fields of the Indian territory.
The Hepburn Bill Ineffective.
TN response to the demands Of the
president, a bill was passed by the last
congress known as the Hepburn Dill
It was an important step in the right
direction, but / fear it VIII fail TO cor
rect some of the grossest evils. One
is that Of capitalization. The
great majority Of the railroads of the
country are bonded for as much, or
more than they cost and in addition
from 10 to SO thousand dollars per
mile. This stock usually represents
no investment. 1t is simply a cor
porate creation. The money received
for the stock goes into the pockets of
the prom Oters of the company. 1t is
graft. pure and simple. Yet the roads
demand the right to charge freight
and passenger rates that viii enable
the1n not only to pay interest ON the
bonded Indebtedness. but also to pro-
vide an income sufficient to float the
stock issues. Provision should have
been made in the Hepburn bill forbid
ding over pitalisation of all public
service corporations engaged in inter-
state commerce. The supreme court
has held that q rate fixed by COM
mission must be sufficient to pay a fair
income on the value of the property
and the cost of operation and main
tenance. It seems to me, therefore,
that the Hepburn bill ought to have
provided for ascertaining the value of
the railroads engaged in interstate
commerce, such valuation to be made
the basis for the fixing of rates. The
Dill, however, contains many very de-
sirabie provisions, and should be of
great benefit TO the country. But
whether the Hepburn bill Will accom-
pilsh what it purporUs to do we can
not know until its provisions have run
the gauntlet Of the courts.
It purports to prevent a railroad
from owning a coal mine or any indus=
trial enterprise the products of which
are transported to market over its
not be effective. for it will be easy for
company to be organized composed
OF stockholders who can operate a
coal mine or line of elevators and
have the same relations as far as
transportation goes with the railroad
as il the railroad corporation itself
owned and operated the mine. so that
this provision of the Hepburn bill,
which purports to be an important one
VIII probably be of no practical value.
The provisions of the bill that
are effective will be resisted by the
combined corporate interests of the
country. There is a community Of in
terests between the packing trust the
Standard Oil company, the lumber
trust, and all kindred corporations for
mutual advantage and against the in
terest OF the public Rate regulation
and the curtailing of the power of the
men who control these vast interests
must be done by congress. Rate regu-
lation. therefore, is a political cues
ton and in my judgment the most i'm
portant one before the American peO-
pie.
The People Omnipotent.
THE people. however, when they are
aroused, are Omnipotent in the politics
of this country. No influence can with
1 stand the power of a concentrated pub
/ lie sentiment It was public opinion
! that drove John A Mccall from the
.
company to his grave, that forced Nc
Curdy and Alexander into a humiliat-
ing obscurity, that compelled a reluct-
ant senate to pass the Hepburn bill
and forced the rebeIlious committee of
the house on agriculture to pass the
meat inspection law demanded by the
president.
so, my friends, let me urge YOU to
; bring the power of public opinion TO
bear on this question. Make the elm
nation of these evils the controlling
motive in your political action For
in this way only can they be eradicated.
Beware Of the demagogue and also the
wolf in Sleeps clothing Men who
make loud pretensions from the house
! tops and serve the corporations in the
closet. These men are more dangerous
/ to the public welfare than those who
openly champion the old regime We
should not act from prejudice or pas
sion. The railroads are necessary. They
are a part of our civilization. It Is to
our interest that they should be pros
4 porous and successful business institu-
tions, but their domination Of the com
mercial industrial and political life Of
this country must be broken or free
/ government will fail"