New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1907-03-21
THE RAILROAD PROBLEM
WASHINGTON GUESSING.
President Nay Try to Check Um0oise
State Legislation.
From Tn. Tribune bureau. ]


Washington. March 2O-The President mas IN
formed railway presidents ananciers and cap
tains OF industry within the last two weeks l""'
his mind is largely occupied In working OUT inc
problems involved in his policies as enuncld'eu
I'm public speeches and messages to congress.
The question uppermost in the thoughts Oh
every one interested In the railway ana lhuuS
trial situation is. at what conclusions mas tio
President arrived or in what direction is MS
mind tending? And. while the President aSser'S
that ne has not yet reached any definite de-
cisions and that so soon he does so ne WIZ
announce them to the public there are Heu ia
public life who believe they can discern 'Ae
direction and progress OF his mind perhaps oven
better than he himself.
In every recent conversation on the suOJe0t
Of the railroads the President has insisted '''"t
he is only working along the lines pFeN'Ou''y
outlined in his messages and the Senators anu
others who are anXiOusly watching the Pios'
OF his mind call attention to the fact that IN ms
last message. after reviewing the work already
accomplished he said:
Il must not be supposed however, that with
the passage OF these laws it will be posslDie ~
stop progress along the line or lncFeasiue ,4t
power Of the national government over lne uSo
or capital In interstate commerce fOI -, ttn
there Will ultimately be need or enlarsihs tlIo
powers OF the Interstate Commerce , o. .
along several different lines. 30 as 10 eteS ~,
larger and more efficient control over INC 60
roads-a control that will. among other tnInss'
prevent the evils of excessive overcapitalZatioh
and that will compel the disclosure by each Dig
corporation of its stockholders and OF us PLoP-
critics and business. whether owned dlre"1ly VI
through subsidiary or affiliated corpoi"'o''
And a little further along in the same message
the President said:
The proper antidots TO the dangerous ana
wicked agitation against men OF wealth as such
Is 20 secure by proper legislation and executive
action the abolition of the grave abuses wh.Gh
actually do obtain in connection with me nus'-
ness use OF wealth under our present system NJ
or. rather, system-of failure to exercise any
adequate contro! at all
The President himself Is careful to refrain
from personalities in discussing the broad ques-
lions OF government but there are men in Wash
ingtcn who pronounce the passages quoted Httie
short OF prophetic In the light of the disclosures
produced by recent Investigations. These men
also call attention TO the fact that the President
has Invariably replied to the argument Of rail-
way managers that they found themselves ham
pered In their efforts to secure funds with which
to improve facilities with the remark that were
the law such that they could place their securi-
ties on the market with the guarantee Of the
government behind them they would experience
no difficulty in disposing OF them
I'VE can stand federal supervision OF our
stock and bond issues II can only be re-
ueved OF the raids OF state legislatures" said a
prominent railroad man recently III washing
ton. and he added: The question Is. VIII the
President exert his powerful influence TO save
us from the destructive enactments OF the
states?"
Senators and others believe that ultimately
the President will exert his influence. In so far
as he may deem proper. 10 induce the states 10
refrain from enacting hampering legislation
but they predict he viii do only in his own
! good time and on his own terms.
They predict that during the coming spring
and summer the President will improve every
| opportunity 10 educate tho public to his views;
| that when Congress convenes II viii do so with
| packed constituencies. and that then the PresI-
| dent will permit the railway managers 70 appre-
ciato that in for their assistance In secur-
| ing the legislation which he deems essential 20
| the rounding out Of his policies he may be Will
| ing 10 say to the states that he at least would
! think It wise for them TO refrain from further
! railway enactment until opportunity has been
! giiven TO test the effect of the federal laws.