The Goodland republic. [volume] (Goodland, Kan.) 1891-1907, 1907-05-10

3. r. TCAEUM ON RAILROADS.
The following IS from an interview
In the New York World, In which 3.
+. Koakunn, railroad magnates gives
his views OF the cOuntry's railroads:
"A railroad has no more cause to be
at the mercy OF the stock 5Obbers than
a savings bank or a life insurance
company. The American railroads are,
or should be, as much a public trust
as these inECuuOug. When the public
insists that they be run honestly they
viii begin to fulfil their righful des-
tiny, and too they VIII be more pros
porous than they have ever been
II viii be frank The people are
not without justification in their be
lief that the railroads have been sys-
tematically TObbing them 1t IS not
altogether fair TO put it Just that way,
but nevertheless the public has for
years been paying out a great deal Of
money for something 1t did not al
ways get
NO one is to blame for the present
antf-raflroad sentiment, but the rail-
road managers themselves. Now the
day OF reckoning has come, and IL will
prove a blessing not only to the ma
ton, but to the railroads. For in al
most every case where there have
been Illegal operations they have been
in the interests, not OF the roads, but
OF the men who control the roads
Very often the roads have suffered
wrecked.
However, in spite Of the present
agitation and the cry from some quar-
tiers that railroad interests are in
jeopardy from oppression, I cannot
see that any lasting damage can be
before have they been in better ply
steal condition; never before has so
much money been spent in honest
betterment Of the systems, and never
has the efficiency been so high and
the dfVidend-earning power so great
on account Of the unprecedented pros
perity Of the people themselves. It
needs only a restoration Of public
cOnfdnce, basel 0Ei j real and open
change in methods, to give them a
unique impetus.
wild and ruthless speculation IN
the securities Of a railroad company
should represent actuaIities, and not
hot air, though even this condition
will adjust itself in time. Over-cap-
italiZatiOn, or water, is bound to be
squeezed out automatically, for no
stock will sustain itself for long above
a fair dividend earning price
The paramount problem from the
standpoint Of government activity is
in the control Of rates With a prac-
teal plan OF federal rate supervision
in operation, most Of the other abuses
OF managerial power will vanish.
Some Of them have already disappear
ed.
''I am not in favor Of government
ownership OF the railroads. I do not
believe that under our existing poll
teal system IL is practicable; but do
believe in the ownership of the rail-
roads by the people. If every man
who held property along line Of rail-
road held an interest, however small,
in their line, and its control was in
the hands Of the men whom it was
built to serve, instead Of In the hands
OF a clique OF manipuIatOrs, the rail-
roads would be run for benefit Of a
new kind
Ownership by the people I would
couple as have said, with strict fed
eral supervision Of rates. No rail-
fedral control that may be imposed,
OF public opinion they
may and do fear state legislation.
With a laudable but ever-zealous am
bitiOn to be in first at the regulating,
some Of the states are passing laws
that Will seriously hamper effective
operations and the extension Of lines
into new and sparseIy settled terri
tory.
This is a big country, but with the
present rapid development OF trans
pOrtatiOn it IS steadily growing small
er, and cOrrespOndingly the relations
OF state to interstate traffic are becOm-
ing more intimate and inSeparabIe.
The tendency Of the states to magnify
the differences between the two is go
ing to increase greatly the difficulties
In the way Of securing adequate and
general supervision