The Richmond palladium and sun-telegram. [volume] (Richmond, Ind.) 1907-1939, 1907-05-30
ROOSEVELT At THE
UNWILLING OF THE
LAYTON MONUMENT
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given full and effective power OF SD
pervision and control. But the inter
ests of those who build. who manage,
and who invest in the railroads must
be no less scrupulously guarded than
the interests of the public. 1t is ur-
gently necessary at the present time,
in order TO relieve the existing conSes-
ton of business and to do away with
the paralysis which threatens our
expanding industries. because of linn
tied and inefficient means of distribu-
ton. that our railway facilities should
be so increased as to meet the fmpera-
tive demands of our internal COM
merce. The want can be met only by
private capital, and the vast expendl-
ture necessary for such purpose Will
not be incurred unless private capital
is afforded reasonable incentive and
protection. 1t is therefore prime ne
cessity to allow investments in railway
properties to earn a liberal return,
return sufficiently liberal to cover all
risks. We cannot get an improved SER
vice unless the carriers of the country
can sell their securities; and therefore
nothing should be done unwarranted-
ly to impair their credit nor to de-
crease the value of their outstanding
obligations.
For Positive Restraint.
| emphaticalIy believe that positive
restraint should be imposed upon rail-
way corporations, and that they should
be required to meet positive obligations
in the interest of the general public.
no less emphatically believe that in
thus regulating and controlling the af-
fairs of the railways it is necessary to
recognize the need of an immense out
lay of money from private sources, and
the certainty that this will not be met
without the assurance of sufficient re-
ward to induce the necessary invest
ment 1t is plainly inadvisable for
the government to undertake to d.
rect the physical operation of the rail-
ways, save in wholly exceptional cases;
and the supervision and control it ex-
GTC1ScS SnOulu DC DOIn CAtlICIy ddC-
quate to secure it's ends, and yet no
more harassing than is necessary to
secure these ends.
believe that the railroad men of the
United States are cohinN to more
perfect sense of the responsibility of
the relation which they bear to the
public, and of the dignity of that rela-
ton. They are public servants In the
highest and fullest sense. Indeed.
there is not a brakeman nor a switch
man upon the most remote road in the
land who does not fill public function
and render service of large public
honor nor reward to these men to
whom we entrust our lives and our
property Behind these active work
ers in the railroad field are those who
have the determination of railroad pol
icies. These men are entitled to
great rewards: and in return pub
lie opinion is right in holding them to
a rigid accountability for the way they
perform their public duties. For sew
eraI months past some. if not all, Of
our roads have been in condition
of extreme congestion. Doubtless
this is mainly due to the fact that the
country has outgrown its railroads,
that our prosperity has increased at
such a rate that the most sanguine and
optimistic railroads have been unable
TO keep pace with its growth. But it
is also true that ordinary methods of
operation. which hold good in placid
time of steady and regular movement,
should at time of crisis yield to the
imperative necessities of public need.
Responsibility Is Serious.
The experience of the past winter
proves how great is our dependence on
railroads and how serious the RESPONSE
bility of those who undertake to care
for the public in the matter of trans
portation. / believe that there is suf-
ficient ingenuity and executive gent
us in the operating officials of the
roads greatly to diminish the trou-
bles complained of. The most effect
i've way to lessen demands for unrea-
sonable legislation is for the railroads
acting individually and collectively to
remedy as many as possible of the
abuses and shortcomings for which
which remedial laws are demanded by
the shipping public.
The admirable national legislation of
recent years. in taking away from the
railroads the power of giving illegal ia
vor, has taken away from them one of
the illegitimate methods by which they
used to protect themselves from inn
proper attack. and it is therefore nee
essary that upright public servants
should be as vigilant to protect them
against harm as TO prevent them from
doing harm. Undoubtedly many high
officers among the railroad men have
followed the extremely unwise course
OF trying to defeat the enactment of
proper laws for their own control. and
of endeayoring to thwart. obstruct.
and bring into discredit the administra-
ton of the laws. But the folly of some
Of their number in no way alters our
duty. nor the wisdom of performing
this duty in a spirit of absolute justice
alike TO the railroad. the shipper and
the general public.