New-York tribune., 1907-01-31
THE PRESIDENTS PLANS
MORE RATE LEGISLATION.
Wants Present Lao Perfected
Programme Not Fully Matured.
rFror Ths --.nrne euresu,I

Fro-r Tls Tribune Buresu.l
washington Jan. s0.-The President IS map
ping out a plan for additional railroad legisla-
r3on, which he VIII present TO the sOth Congress
sor action next winter. Since the present
Railroad Rate law was placed on the statute
books last session he has studied the subject OF
transportation carefully and has sought the ad-
vice Of scores OF experts. AS a result he has
been convinced that the law enacted falls far
short OF the mark IN many respects. It should
be rounded out, he believes, and made TO bring
IN many important details which were at first
overlooked or set aside while the forces Of the
administration were bent upon securing the
IN important power for the Interstate Com
merce Commission which the Senate finally
granted. Just what the President win ask m
the way Of additional interstate commerce law
he has not himself decided and probably win
rot determine until close 70 the time he laws
the matter before the national legislature.
Stories are printed with great regularity
which purport to tel what the President thinks
this or that subject relating to the Rate
law" said an official of the administration to-
day. "As matter of fact the President has
very decided thought the subject at all
Just now. He is doing his best 10 learn the
needs OF the country OF the shippers and OF the
railroads. He IS IN constant correspondence or
discussion with a number OF shippers organiza-
tions and with private shippers: with members
OF the Interstate Commerce Commission, and
with prominent railroad men In different parts
Of the country. and by next winter will doubt
less have definite plan of campaign in mind.
Widest OF GUESswoRK"
1T is The widest Of guesswork to say that
the President Will write message attacking
oTercapitalization': that he viii demand a
searching investigation into the car shortage
with q view 10 securing a law 70 cure the evil;
that he will write letter naming the good and
bad trusts, any other of the frequently re
iterated statements that you see in print OF
course, the President would be glad to see all
the water squeezed out Of the railroad stocks;
Of course he would be pleased 10 be instrumental
in securing the passage of law that would at
once and forever do away with car shortages;
of course he would be glad TO see any and all
evils under the sun corrected, and more especial
ly all injustice and error eliminated from the
United States. But It is not treating the Presi-
dent quite fairly 10 make official announcement
% his thoughts before he thinks them. any more
before he signs the document
The President is laboriously searching for
facts and is consulting all manner and kinds OF
authorities to get at the bottom of the big sub
ject before he acts. Until one starts to find the
actual true inwardness Of the railroad busi-
ness he has very little conception OF the colossal
proportions OF the subject. To announce that
the government would ascertain the actual
value Of a road with q view TO squeezing out the
surplus water from its capitalization sounds
easy But how is that to he determined? Upon
The first cost OF the construction added to the
cost OF rolling stock and equipment7 Upon the
market value OF the road after it has developed
a wilderness into populous. prosperous coun-
try? or upon the amount OF money the road
would bring under the hammer Of the auction
eer? There are valuations ana valuations. The
President does not intend to ask for any legisla-
lion that will frighten capital from engaging in
legitimate railroad enterprises The country
must be developed and capital should have its
Just reward. To pass legislation that viii not
deter honest endeavor is therefore quite as i'm
portsnt as 20 have laws that viii curb specula-
zion and end the big stock gamblings.
DEMURRAGE QUESTION IMPORTANT
Since the President received visit several
weeks ago from the representatives OF the Chi
csgo Reciprocal Demurrage Convention he has
also been in daily correspondence upon the sub
ject they brought 10 his attention The matter
OF dernurrage IS. in his mind, most impor-
iant one. He is Of the opinion that the demur-
rage charged by the roads is TO small. instead
OF being too large. II it were larger the cars
would be unlOaded quicker. and there would
not be so many tied up in the yards. He
would also penalize the roads for not moving
the cars when they have them In their posses
sion. But how shall the improvements be
brought about. and how maintained when they
are created?
1T may be announced ipnn first rate
authority that the President al not attempt
20 secure any railroad Legislation. this session
He knows that even under the most favorable
circumstances such an important measure could
not be introduced, debated anG passed within
five weeks OF the close Of Congress. As It IS
now, Congress IS away behind with fits work.
The six weeks talk oger Brownsville has re-
suited in just six weeks postDonement OF The
Senate's legitimate business, and II the regular
appropriation bills and the much needed legisla-
tion already agreed upon by the party leaders
can be put through before March the law-
makers may consider themselves fortunate in
deed