The Washington herald., 1907-06-01

Uncle joe Cannon. before departing
Yesterday for his home at Danyille, H., in
a general way expressed his approval Of
the railroad legislation President Roose-
welt is now expected 20 ask Of Congress
next winter
He did not want to commit himself in
advance. and. therefore, would not be
quoted. but he observed that the railroads
probably should accept the terms the
President seemed 20 have offered them In
his Indianapolis speech. They might find
the propositions 10 thei- favor in the END,
Just as national banks had profted ma
terlally by government supervision.
70 one here can tell this far ahead what
VIII come from tho recommendations that
the President now apparently plans to in
corporate in his annual message. These
recommendations will probably follow
more or less closely the lines Of his In
dianapolis speech. lie will naturally leave
many Of the details as 70 whether the
railroads or the government shall make
an appraisement when it is considered
necessary, and the methods cf appor-
uonment. TO be settled by the commit
tees Of Congress.
OF course. as heretofore I'm his reform
legislation. the President will attempt 10
say how the bill viii be drawn. and there
will be consultations galore with party
leaders
More Legislation Expected.
Il is taken for granted here among the
future Senators and Members now in
town that there viii be more railroad
legislation at the next Congress. Opposi-
tion IS expected. It will probably be in
trenched in the Senate where a leading
argument against any action may be that
Congress should wait until the railroad
rate law is tested. There are indications
that the consututonality of that law will
be before the courts by next winter. Suits
10 that end are said to be IN contempla-
tion now.
The House. rs usual. viii be more re
sp1rsive 10 the Presidents wishes. All OF
its 2S5 members who want 90 retain their
seats must go before the people again
next year. Then the Republican party
will be facing q Presidential campaign
With the present public temper, the lead
ers viii hardly dare to stand out TO the
end against a uig reform bill advocated
by a popular President The opposition
will probably be successful TN modifying
rather than in defeating the proposed leg
isIatiUu
The Presidents speech is received with
considerable reserve by those who are
disposed 20 analyze the situation cTlt-
cauy As 20 the appraisement OF rail-
roads. for instance, il is 7' out tnaJ
everything viii depend
cf the bin following the
line Il the railroads ar
the appraisemeut. If tr
termiUing the value Of
eral. and if a liberal
on money invested-say
cent 10 cover the le5
roads may not resist
these all-impOrtaut dc
likely 20 be Waged
Reassuring in Tone.
The tone in which the President dis
Cusses the railroad problem IS regarded
as reassuring His suggestion for ap-
praisment in only certain instances is in
te-preted as a concession from the frs
suggestion that grew out Of his earlier
conferences with railroad men soon aftel
Congress adjourned. He is not especially
ins.stent upon Federal Incorporation
although expressing a preference for it
His proposition 20 distinguish between th'
investors and spectators in railroad Sc
curit1es by eventually establishing the ap
uroxiuate value of railroad stocks ant
bonds. and by giving the public opp0rtuni
ties to know as soon as anybody else, AM
iust as authoritatively, what these stock
and bonds represent. is favOrably com
mented upon here.
As one official put It yesterday. thi
plan. as outlined by the President, wi
eliminate the advantage that those pos
sessing inside information now enjoy
Franklin X. Lane. n Democratic mem
Der OF the commission, who is in entir
accord with the administration railroa
regulation policy. ind0rsed every line @
the Presidents address lie said.
It ought % establish IN the minds q
his most intense critics the entire reason
ableness Of the man. His spirit is fair; hi
attitude IS one Of justice. 1t IS not d0m
mated by prejudice or moved by any pOr
ular passion. He IS both resoIuts and re5
sonable lie has taken a course which h
announces he will continue, but this doe
not mean that he is 10 be other than praC
tieal That IS lust the difference betWeG
the statesman and The theorist.
The President sees :he magnitude
the railroad problem, and takes a vie
larger and broader than that Of the ind
vidual railroad man or the individu.
shipper or investor. HIS craftsmanship
shown not more In the appreciation Of NJ
Just conditions than I'm his sense Of ii
responsibility which rests upon him a
leader to find a remedy for these cond