Lewiston evening teller. [volume] (Lewiston, Idaho) 1903-1911, 1907-05-30

over all kinds Of public service c0rpo-
rations, including railways Every T
honestly managed railway will gain
and not losa BIZ the policy. The men
more anxious to manipulate stocks /
than to make the management of their
roads efficient and honest are the only
ones who have cause to oppose it
We who believe In steady and
healthy progress stand unalterablx. for
the new era Of the widest publicity.
and for fair dealing ON the part OF
railroads with stockholders. passen-
gers and shippers We ask the con-
sent Of no man in carrying out this
policy; but we gladly welcome the ala
of every man in peRfscting the law In
it's details. and in securing It's enact
and the faithful observance of it's
wise provisions. We seek nothing
i Seek Nothing Revolutionary.
. revolutionary. We ask for such laws
as in their essence now obtain In the
i staid old commonwealth OF Massa-
\ chusetts: such laws as now obtain In
England. The purpose OF those OF us
who so resolutely believe In the new
policy, in It's thorough carrying out
and in its progressive development. Is
would be the first to protest against
any form Of confiscation Of property,
and whether we protested or not. I
may add that the supreme court could
be trusted In any event to see that
J there should be nothing done under
the guise of regulating roads to de-
, stroy property without just compensa-
ton or without due process of law.
J AS a matter of course, we shall pun
, ish any criminal whom we can convict
under the law; but we have no inten-
! ton of confounding the innocent many
: and the guilty few by any ill-judged
! and sweeping scheme of vengeance.
I Our aim is primarily to prevent these
! abuses in the future. Wherever evil
tdoers can be. they shall be, brought to
J. justice; and no Grim nal, high or. low,
, whom we can reach will receive i'm
: punity. But the rights of innocent
: investors should not be jeoparded by
I legislation or executive action; we
3 sanction no legislation which would
: fall heavily on them instead of on the
D the wrong.
i. b Care Against imitation.
] There must be no such rigid laws as
< will prevent the development of the
:. country, and such development can
Q only be had if investors are offered an
: ample reward for the risk they take.
Q We must be the first to oppose any
unreasonable restrictions being placed
+ upon the issuance. of stocks and bonds
I for such would simply hamper the
|, growth of the United States: for a
railroad must ultimately stand on its
g credit. But this does not prevent our
r. demanding that there be lodged in the
It government power to exercise a jeal-
4 Gus care against the imitation of Sc
4 curities and all the evils that come in
n Tits train. The man who builds a great
g railway and those who invest in il
a render great public service; for ade-
u quate transportation facilities are a
e vital necessity to the country. We IA
S vor full and ample return to such
t men; but we do not favor policy OF
: explo ting the many for the benefit OF
9 the few. We favor the railway man
9 who operates his railway upon q
J, straightforward and open bushes ba-
: sis from the standpoint of permanent
tnxya ant nd 10
n in its future; we are against only the
{ man who cares nothing for the prop
$ erty after his speculative deal in It's
I securit es has been closed. We favor
4 the railway manager who keeps In
: close touch with the people along his
Y line rather than in close touch with
8 the speculative market; who operates
h his line with view to the advantage
Y he can legitimately get out of his rail-
: way as permanent investment by
: g wing fair return to the stoclhold-
. ers and to the public good service with
1 reasonable rates; who does not oper-
1 ate his road with view to the tempo
} rary speculative advantage which will
| follow capitalizing an uncertain future
] and unloading. the securities on the
} public. We wish to make it to the
/ interest of the investor to put his
money into the honest development Of
} the railroads, and therefore we wish
/ to discriminate against the man who,
J while enriching himself, lays upon the
; future owners and patrons of the xoad
and above all upon the honest men
whose duty it may become to operate
the road, burden of add tiona1 debt
} without adding correspondingly to its
, actual worth. Much is said about the
inability to railway presidents to agree
} among themselves as to what policy
! should be. advocated and what plans
followed in the effort to work out the
J problems which now present them