Daily capital journal. (Salem, Oregon) 1903-1919, 1907-08-10

our prepsrstions. Lowell, nsss.
in the relations of the railways to
the traders and the manufacturers of
the nation. 1t is not strange that
certain somewhat crude notions
should have been established as to
the correct relations of railroads to
society.
Result of Public Control.
The notion has now become very
prevalent that the railroads are not
to be treated as private properties,
but as public institutions, at least at
quasi-public institutions. A great
number Of our fellow citizens, i'm
cluding therein many of the most in
telligent railroad officers, now be-
lieve that railroad affairs should be
subjected to government control.
should say that a majority of our
fellow citizens believe this. The
question of difference IL simply as to
the degree of control that the states
or the fed daral government are per-
mitted to exercise. Personally, al
though am Republican in
politics, in political economy am q
Democrat of the old school, and
have thorough-going and funda-
mental belief in the doctrine that
the government is best which gov
erns least, / contemplate with dread
an enlargement of the functions of
government, and particularly the in
vasion of the field of railroad con-
troll by the officers of the state and
federal, government.
But I recognize that control of the
railroads by the various governments
within our country is bound TO be
tried on very considerable scale. I
still believe that II will fail, except
in some broad and simple way; but
! am quite sure that we shall so
through a good many years of ex-
pertinent with railroad control. This
theory of the control of railroads is
only one manifestation of the wave
of socialism which Is sweeping over
the country and which has one of its
principal fountains In the White
House. 1t is the oncoming of that
great wave which alarms me for the
future OF our country and which has
such special menace for those who
are responsible for the prosperity of
the railroads.
have spoken OF the attitude OF
our people toward the railroads as a
strange phenomena. This is true
when you think of the part which
the railroads have had in building
the country, and when you think
further of the part that the railroad
play in our daily life. outside OF
agriculture. railroading is the most
important industry in the country.
IL employees more men than any
other industry except agriculture. II
pays out about $3.50, 100000 a year
in wages, being 60 per cent of the
total operating expenses. II pays in
dividends $23S, 100000.
The wages and taxes paid by the
railroads amount to nearly four
times as much as the dividends paid
on railroad stock; in fact, the divi-
dand nayrnanto amount 20 only ahnnt
SO per cent on the stock; 10 years
ago the dividends paid amounted 20
but II per cent. A little more than
81 per cent of all the railroad stock
OF the country pays no dividends.
Ten years ago about 20 per cent of
the railroad stock of the country
paid no dividends. These few fig-
ures give a notion of what the pros
perity of the railroads means to the
working people and to the manu-
facturers and traders OF the country,
and they give us a notion also OF the
really very small returns which rail-
road properties make to their own
ers.
Light Burden of Transportation Tax.
The prosperity and the happiness
of every man, woman and child In
the civilized world depends more or
less on the prompt. cheap and regu-
lar movement of freight over the
railroads of the United States. Here
In the United States the prompt,
cheap and regular movement OF
freight is, excepting the crops, the
most important element In our daily
and In our continued pros
perity. The appreciation OF this fact
is one important element in the in
tense popular feeling against the
railroads.
n.