Vernon County censor. [volume] (Viroqua, Wis.) 1865-1955, 1907-10-30

stands that business enterprises aud
good service are entitled to fair cam
lngs. What he does not understand is.
In what respect railroad business so
Tar differs from any other business
that those upon the inside can hon,
esty and honorabiy .ecome multi.
miEionaires, while those upon the
outside So often find themselves the
owners OF worthless stock. He OBJ
serves that the directors of savings
banks do not become rich in that way.
he suspects, therefore, that the
many millions of the few have, in
many cases. been made at the ex.
pense of those for whom these few
have been trustees. He thinks that
there has been in railroad boards of
direction a widespread loss of tie
sense Of trusteeship. The law allows
trustee reasonable compensation:
but It does not allow the personal en-.
richment of the trustee at the ex.
pense of the ward Hence the demand
! for government control on the side of
/ railroad financiering.
THE demand heard in some quar-
ters that railroads shall belong to the
government and be operated by the
government. presumably does not
spring from any special desire to
have the government do this business
directly, instead OF through private
agencies; but it springs principally
from me notion that in no other way
eau railroad service be stamped with
the public quality that means abso-
lutte equality of treatment of big and
little shippers, aud big and little
places. Personally, l do not believe
that public ownership or public oper-
alton are either the only ways. or the
best ways, to OBTAIN the desired re-
suits 1t rests very largely with rail-
road directors and managers them.
selves, whether the country is driven
into public ownership and operation
OF the railroads. At the same time II
the private management of railroads
Is to be indefinitely continued. gov.
eminent regulation both of railroad
finances and railroad service. is abb
solutely essential. Ii may be taken
for granted that the public will in.
sfst, increasingly. on having the pub
lie quality Of equal treatment for all
predominant In all the relations OF
the railroads to the public, as distin-
guished from the business quality of
discrimination on the basis of the
volume OF business. Government regu-
lation may lead to the non-production
OF multi-millionaires, as a by-product
OF railroading, but II ought also to
mean to investors, increasingly safe
returns.
But regulation by law in the
United States raises another ques.
ton. said Mr.. Low. Shall It be reg
ulation by the states or by the United
States, or by both? AS long as strong
individuals could get favorable terms
for themselves, they we're Indifferent
to the question of freights as that
question affects localities. But It may
be taken for granted that the end OF
rebating has introduced the day of
strife between localities for what
each will call fair treatment. AS COM
peting localities are often, IL not al
ways in different states, the appeal
OF each state to protect It's own Is
likely to become more and more urg.
ent. In the rate bills already passed
In different states, there is complete
disregard OF the effect OF the action
OF one state on the railroad service of
any other state. This is force, there.
fore, making steadily for federal con-
troll think that ultimately one law
VIII govern all railroads bearing inter
state relations. IN substantially all
their relations TO commerce. whether
within the state or without the state.
However great the fear OF the com
mon people may be Of Capitalization
In government, think that fear win
prove to be less great than their fear
OF Capitalization in corporations con.
trolling the highways of commerce,
that are so far lawIess as to be able
to select, largely at their own pleas.
ure, the law that they viii observe.
whether individual or local"