The sun. [volume] (New York [N.Y.]) 1833-1916, 1907-06-17

regulative laws. with the general result
that to-day. for the first time In the history
OF American railways. secret preferences
and advantages have practically disap-
peared. 1t Is because Of this more elevated
and wholesome conception entertained by
the average mind, this Augmented and in
tense sensitivene0s respecting matters
which were regarded with indifference, that
! believe the standard OF business morality
in sphere OF activity has been greatly ele-
waited. and especially 30 within the last
few years"
Mr.. Knapp Endorsed the proposal to
exempt railways from the operations Of
the Sherman anti-trust law, 10 the extent
at least of permitting them to make pool
ing arrangements subject to certain re-
strictions.
The belief prevails in some quarters that
II pooling were permitted under Govern
mental supervision a step would thus be
taken in the direction Of multiplying the anti
trust act as far as railroads are concerned.
thereby removing an Inconsistency in the
enforcement Of the act to regulate COM
mlerce and the act aimed at combinations
in restraint of trade. In his Indianapolis
speech on Memorial Day. President Roose-
welt urged that railroads be permitted to
pool, or rather to make traffic agreements
under the supervision Of the Interstate,
Commerce Commission. The Presidents
utterances at indianapolis were approved
by Mr.. Knapp.
Their immediate effect" he said, was
distinctly reassuring, and as they are made
the subject OF further public, reflection the
correctness OF his view and the wisdom of
his policy will become more apparent.
What by some, not many, is regarded as
radical will be perceived at no distant day
TO be a sound and stimulating conservatism.
Especially do l commend his emphatic
statement that the railroads should be
permitted by proper legislation. through
legahzed traffic associations or in other
appropriate way to confer and agree
upon the establishment and maintenance
OF just and reasonable charges. Such
concert OF action is absolutely necessary
to the suitable conduct of railway opera
tons and altogether in the public interest.
Every thoughtful man. / believe, recognizes
the correctness Of this view, but the Presi-
dent is practically the only man in public
public expression"
In conclusionShe chairman Of the Inter
state Commerce Commission said:
Nothing seems to me more important
at the present time, nothing has so much
to do with our national prosperity in the
immediate future, as to provide with the
least possible delay a very great increase
in our transportation facilities. The profit
able output Of the farm. the forest and
the factory is measured by the ability TO
move the product promptly and cheaply
from producer to consumer. Upon an in
crease OF profitable production depends
our continued advance in material wealth
and that increased production must in turn
depend upon enlarged facilities for dis
tnbution.
-The needs Of the country in this regard
are growing with astonishing rapidity,
They have outgrown the carrying capacity
OF our railroads. The surplus from cur
rent operations is entirely inadequate to
supply our present necessities. An i'm
mense amount Of fresh capital must be
invested in railway improvements in order
that our internal may develop
and our prosperity abide |