The Salt Lake tribune. [volume] (Salt Lake City, Utah) 1890-current, 1907-05-31

we're reorssnized into national instltu-
| tlons The investing public was ready 10
stituuons on which the Federal govern
| ment had set the seal OF It's confidence
and APPROVAL. The railways have not been
| given this certificate OF character. under
| the seal Of the national government and
itnerefore IN many people who invest freely
| buy railroad securities. Give them the
| same guarantees as 10 railroad securities
which we now give them as 10 national
! these people Investing in railroads. and
! thus opening a new reservoir from which
| 70 draw the capital now so much needed
| loT the extension and betterment Of the
| railroads.
Not Hostile to Corporations.
Al! thts. my friends. Is substantially
%hat ] have said over and over again
surely. II ought not TO be necessary 10
any hostility TO corporations as such. on
| nc contrary Il means a frank recogni-
| non or the fact that combinations OF
| capital Ike combinations of labor are a
! natural result OF modern conditions and
on our national development. AS far as
j.! I'm, my ability lies my endeavor is and
WIZ DC 10 prevent abuse OF power by
| either and 10 favor both so long as they
| 90 well. The aim OF the national gov
| crhnent rs quite as much 10 favor and
| Plotect honest corporations. honest bus-
| ness men OF wealth. aE 10 bring TO ius-
Ilce those individuals and corporations
certainly there viii be M -siaSs,,oto b,.
| the government authorities in the effort
| 10 get at any great railroad wrecker-
| any any nan who by clever swindlins devices
| Ioos investors. oppresses waeeworkers
and does Injustice 70 the general public
But any such move this is in the In
terest OF honest railway operators Of hon
est corporations. and Of those who when
| they invest their small savings In stocks
ana , bonds, wish TO ne assured that these
| VIII represent money honestly expended
| Tor legitimate business purposes TO con-
| Ter upon the national government the
power for which ] ask would be check
| upon overcapitalzation and npon the
! clever gamblers. who benefit by overcap-
ital5a1ion. But it alone would mean an
| increase In the value. an Increase In the
abiding, honestly managed railroads. and
| would render 1t far easier to market their
securities believe in proper publicity.
There has been complaint OF some Of the
| Investigations recently carried on but
! those who complain should put the blame
Mhere IT belongs-upon the misdeeds
| which are done in darkness, and not upon
| the Investigations which brought them
| 10 Hsht. The administrst ton is respon-
stoie ior turning on the light, but 1t is
! ask Tor fun power 10 he given the Fed
eral government because no single State
| can by legislation efTectually cope with
| ihese powerful corporations engaged in
interstate commerce, and while doing
| them fun Justice, exact from them i'm re-
Turn iuil Justice to others The condi-
| tons of railroad activity. the conditions
ol our Immense interstate commerce. are
| such as TO make the central government
alone competent to exercise full super
| vision and control
Most Corporations Honest.
The grave abuses in individual cases
| OF railroad management In the past rep
| resent wrongs not merely TO the general
| public. but. above all wrongs TO fair
| dealing and honest corporat tIons and u,e,
| Of wealth. because they excite q popular
| anger and distrust which from the very
| nature OF the case tends 10 include In
me sweep of its resentment good and
| bad alike. From the standpoint of the
| public / cannot too earnestly say that
as soon as the natural and proper resent
| ment aroused by these abuses becomes
| indiscriminatc and unthinking II also be-
| comes not merely unwise ana unfair but
| calculated to defeat the very ends which
| those feeling IL have In view, There has
| been plenty of dishonest work by cor
| poratlons In the past There Will not be
| the slightest let-up in the effort TO hunt
down and punish every dishonest man
But the bulk of our business Is honestly
done. In the natural Indignation the
| people feel over the dishonesty. II is all
essential that they should not lose their
| heads and get drawn into an ndiscrm-
! mate raid upon all corporations all peo-
| pie OF wealth. whether they do we'll or
! Ill. Out of any such Wild movement good
! VIII not come. cannot come and never
| has come. On the contrary, the surest
way 10 invite reaction is TO follow the
| lead Of either demagogue or visionary in
| q sweeping assault upon property values
| ana upon pnD1t ronDdeCDe which would
! work incalculabe damage in the busi-
! ness world. and would produce such dis
| trust OF the aEItators that In the revul-
! sion the distrust would extend TO honest
| men who. In sincere and sane fashion
are trying TO remedy the evils.
Need More Facilities.
The great need of the hour. from the
standpoint of the general public--of the
! producer. consumer and shipper alike
| is the need for better Transportation ia
| ok AZ Da1
| terminals and improvements In the
| tual handling OF the railroads; and all
this with the least possible delay. Ample.
, safe and rapid transportation facilities
! are even more necessary than cheap
| transportation. The prime need is for
! the investment Of moaey which will pro-
| vide better terminal facilities, additional
/ tracks and greater number OF ears and
! locomotives while at the same time Sc
| curing. II possible, better wages and
! shorter hours for thu employees. There
must be just and reasonable regulation
| OF rates, but any arbitrary and unthnk-
! ing movement TO cut them down may be
/ equivalent to putting complete stop 10
| the effort OF provide better transporta-
! tion.
There can ne no question as TO the
desirabIllty Of doing away with rebates
or any method of favoring one shipper
at the expense OF competitor. and di-
rect dealing with the rates Is sometimes
the only method by which this faVort-
! ism can be avoided bui where favort-
! ism Is not alleged, and when the question
is markedly one OF getting a lower rate.
! II must be remembered that IT, is often
| possible that those demanding IL may he
Z diamctrjCally opposed I'm interest 10 those
I who demand a better. safer ana more
I rapid transportation service and higher
I wages and shorter hours for employees.
! If the demand for more taxes. for higher
! wages. for shorter hours for employees
/ and for lower rates becomes so excessive
/ as TO prevent ample and speedy trans
! portation. and TO eat Up the legitimate
! profits: If popular and legislative move
! mcnts take a shape so III directed as
| not only 10 threaten honest investments
and honest enterprises, but also 10 pre-
/ vent any effort for the hetterment OF
/ transportation facilities, Il then becomes
/ out OF the question 10 secure the neces-
! sarN investment of capital In order 10
/ bring about an improved service
Rates should not be unduly high; there
! should he thorough safeguarding
! against accidents, there should he no
I improper shirking OF taxes; the shippers
/ OF the country must be supplied gencr-
] ouslr with cars and AL other equipments
| necessary 10 properly care for our COM
| merco. aud all this menas that the Ma
tional Government must be given fun