The Montgomery advertiser., 1907-11-21

too subservient to Governor Conner, but there is every reason to believe that It Is showing what is emphatic aS pc Iaet tha. ysw ts Ur ns spreading wreck of credit in all direc- tions began with the extensive execu- tive and legislative rsids upon the raii- spired by contemplation of the tower ing prestige gained oy the Great Rough Raider. 1t must be Submitted that in pressing their share of the work to triumphant conclusion and accomplish ing. so far as in their power lies. the utter demolition of credit in Ala bama, the Alabama legislators no less than Governor Conner, show, that they pending, discounts being shut of, mer- cantile and industrial enterprises go- ing into the hands of receivers, the Ss Tsses ssst of asoF S as SenS pns workmen being thrown out of employ ment by the thousands here, there and all over, while curious forms of money the investment of capital which is pre- scented in the country todaY--and that is saying a great deal. considering
 what politicians have done elsewhere
 plar in Washington. to render the value of corporate securities nebulous and their appeal to investors nothing. As we have said. Governor Corners
 
 railroads as fast as the Aiabama Leg
 isIature can do 1t. with due regard to the formalities of parliamentary pro- cedure If the bills that havp been framed will permit the railroads in the State to operate at even a minute mar gin of profit an intention to allow
 such a result does not appear in them --indeed. the heavy penalties that have been attached to prevent the railroads from testing the new measures in court before making them effective bespeaks a contrary purpose-and these. Diils are | being passed and enacted into law with could desire or require. Nothing has | iriTerfered with, hampered or lmpeded | the joyous task of teaching the rail- | tary lesson that in Alabama at least
 they are wholly at the mercy or the
 politicians, than which nothing could | possibly be more effective in keeping
 the railroads from meddling with pol | tiles for evermore. Business. of l course sought to interpose. The bus
 mess men of Montgomery met last
 week and protested plaintively agains: further legislative upsetting of conf. dence at this time, and a meeting of l business men from all over the State
 was held at Montgomery on Tuesday
 of this week which urged the lawmak-
 CTS to consider the exigencies of busi- ness rather than tho demands of Co., mer, but the Legislature most impress | ively taught business It's place. While | these manufacturers, nlSrCnAnL ana | bankers were meeting and resolving,
 and after they were through, the Leg. | isiature went on passing the measures
 are creeping into. circulation as evi.
 dence of the stress and strain imposed
 upon the industrial organization. the
 success of the Great Raid upon pros perity which began with the assault
 upon the railroad credit. is obviously
 Sd near that a few good hard blows | in the right direction. which is plainly i the direction in which the raid began,
 will probably finish the job. and the mer are the boys to help do it.
 This good example of Keeping it up
 to the biter end will doubtless not be | lost on Congress when it comes to
 meet next month. nor on the other sessions open a month or SO later.
 Those who feared that the raiders might be inclined to rest on their lau- rels which they had already won. or deterred from further excesses of en- | fhusiastic endeavor of the thought
 that they had done damage enough.
 should take heart of the courageous spectacle presented by Governor Co., mer and his merry men.