The Billings gazette. [volume] (Billings, Mont.) 1896-1919, 1907-03-15
President Will Continue Policy
Adopted Concerning Railroads.
THEY MUST OBEY. THE Law
Holds Administration Not Responsible
for Present panicky Conditions.

Washington, March l4.-For more
than 4S hours the White House and
treasury department have been food
ed with appeals for President Roose-
welt and Secretary Cortelyou to take
some action to avert the Threatened
disaster in the financial and rail-
road void. 1t can be stated author
itatively. however, that President
Roosevelt will not change his attitude
toward The railroads, though it is ad-
mitted that the administration has no
intention Of entering on an extremely
radical attack on the railway corpor-
ations.
While it is known that the visit of
). Pierront Morgan to the White
House last Monday night, to induce
the president to issue reassuring
statement to the country in regard to
the adnlinistration's attitude toward
the RAILROADS and the apparent failure
Of the hnancier's appeal, has had
much ID do with the panicky condi'
tions that swept. over Wall street TO-
day, President Roosevelt has repeat
edly said that he is not an enemy OF
the railroads, and that those that
obey the laws have nothing to fear
from the government. While it has
not been definitely decided, the presi
dent may issue statement outlining
his attitude, after he has conferred
with Presidents McCrea, Newman
Mellen and Hughitt, on the railroad
situation.
The conference with the four rail
road magnates, which was granted by
the president at the earnest request
Of Mr.. Morgan, will be held early next
week. It is general yunderstood BY
those close to the president that the
railway officials will urge him to take
some steps "to allay the public anx
iety now threatening to 0bstruct rail
road investments and construction ant
as to The relations between the rail
| roads and the government"
Since Mr.. Morgan's hurried trip tt
the White House, the president has
held numerous conferences witt
Chairman Knapp and members OF thu
| interstate commerce commission, j,
order that he may be in a better posi-
ton TO present the administration
side tf the question when ne meet
the railroad presidents next week.
The administration is firmly Con
vinced that the great unrest in fnar
cial circles has been brought on b.
the arguments advanced by the raj
road interests in trying to preven
"hostile legislation" in the variou
states, and not by the attitude tha
the federal government has taken t
enforce the laws regulating commo
carriers. e. H. Hartman, when h
was in this city recently, and Pres
dent A. B. Stickney, Of the Chicag
Great Western, who called at tn
White House today, have expresse
the same opinion.
In his interviews with the member
of the interstate commerce comml
sion the president is fortifying hin
' self with regard to all the facts ths
!. that body has disclosed during II
! various investigations. In this wa
| he will be able to meet argument wit
: argr ment and fact for fact In
> president, it is known, takes II
same position assumed when he SCI
6 his message to congress last DeceT
\ ber and called attention to the fa'
f thai during the last five months
g within which the new law is operat1I
J. at that time, "the railroads hay
d shown increased earnings and son
of them unusual dividends" Ihl
E the president believes, refutes I'll
0 claims of the railroads at the tin
n that the new law would ruin the1
+ and emphasizes the fact that rate le
islation, either by federal or sta
h gov ernments, is not the cause q =
t. present panicky conditions.
Ell The president, too. has referred 81
d nifcantly to another part or his me
i sag Sc in which he said: ut must n
be supposed. however, that with II