Connecticut western news., 1907-11-21
TINE Il TO SOBER 81: 81. Down
]. ]. Hill Says Attacks on Rail-
roads Made Panic.
PUNISH EVILDOERS, HE SAYS

"Put an End to Wholesale Denuncia-
ton and Prescription Destructive CT
Credit and Hostile to Every Bust
ness Interest" Maenate Suggests.
Kansas City, Nov. 20.-James ]. Hill
In an address at the banquet of the
Commercial club here gave his views
Of the present financial crisis He said:
Perhaps the controlling factor of
the situation ia this country is the
shock given to confidence in our invest
ments all over the world and the con-
sequent limitation of credit.
Credit is the atmosphere which in
f1ates the lungs Of business, and when
it is greatly lessened business must be
reduced in proportion or be quietly
smothered. -..-
"For this reason attacks not on indi-
vidual transgression. not on dishonest
finance, but upon existing business sys-
TENS, representing the fabric Of society
itself, may destroy by impairing credit
what a generation could not rebuild.
Attacks on Railroads.
political campaigns in many states
have been made on the issue of gen
eral assault on the integrity of rail-
road property and management.
There followed wild raid in which
over ITO acts more or less confiscatoTy
of railroad property were enacted by
the legislatures of more than a score
of states.
1.-THE consequences to the transporta-
ton system, to railroad construction
and through these TO the price of farm
products and to the success of every
form OF business have already made
themselves felt, and the country shiv-
ers under the blow.
eff Such continued to be the attitude
of the public mind. there will presently
he no power short of a pledge of the
credit of the government itself able to
secure the funds necessary to provide
more tracks.
ut behooves every business man to
consider in n purely business way this
business problem, for it is his problem.
lie individually will suffer If railroad
construction does not keep pace with
business growth This is not a ques-
ton of private opinion or of politics,
but one that touches directly the well
fare of all the people.
Pleads For Fair Laws.
Before we again realize q favoring
disposition to invest there must be a
different temper, a larger view of JUS
tice, better appreciation of what the
railroads of the United States have
done and are. doing as compared with
those of the rest of the world and a
settled policy of fair and reasonable
liberal treatment and protection for
the future. The duty of the state to-
ward railroad property, which should
have the rights common to other prop
erty, must be considered as well as
the duty of the railroad to the public.
''It Is necessary to this end that the
operations of our railroads should be
regulated properly by wholesome and
fair laws and quite as necessary that
they should not be regulated improp-
erly. Regulative statutes are now in
force of such scope and .stringency
that no one denies their efficacy.
''It would be easy so to multiply and
add to their burdens that the conf
dence necessary to investment would
be entirely destroyed and the develop
ment of the country prevented.
"stop Wholesale Denuncietion."
eve have read of a conflict between
righteousness and business. There can
be 10 such conflict unless there is
| fraud at the business end or hypocrisy
and cant at the righteousness end. If
any man has done evil, if any corpora
ton is SHINING against the laws, let
him or it he punished under the law.
! But put an end to wholesale denun-
citation and wholesale prescription, de-
structive of all credit and repugnant
| to all sense of justice, as we'll as hos
tile to every business interest in the
! land.
1T is time for the whole country to
sober down and think out the prob
lens before it. They are serious
| enough to call for it's best and most
earnest effort They are vital enough
to engage the most generous patriot
| ism.
"a hearty union of all interests, a
broad and genuine understanding and
more cautious, honest and tolerant
attitude in all our public acts will
most effectually promote success in in
dustry and sanity and permanence in
/ the nation" ..# ..-..