The Washington herald., 1907-03-29

President Roosevelt probably VIII cease
his campaign for the physical appraise-
ment of railroads. The decision is not
final. but his inclination is now that
way II would be a first step toward
allaying the railroad opposition.
The same thing may be done by a
roundabout method OF late it seems to
have been overlooked that the Interstate
Commerce Commission has nearly suffi-
cient authority to ascertain the valuation
OF railroad property. In determining
what Is just and a reasonable rate, the
commission may inquire into the value
of the railroad property. Some additional
legislation OF a minor character would
be needed II the President decides 70
leave the troublesome question to the
commission, Congress may be asked next
winter to enact amendments to the rate
law that will facilitate such work.
on every hand the President has heard
protests against his physical valuation
plans. 1t would cut the price of secuTi-
ties in Two, he has been told. Roads
greatly overcapitalized. as many of them
are. would suffer Millions upon millions
of investments would be deprecated
Some have said that the Presidents in
tention Of securing an appraisement law
from Congress has done more than any
other thing TO undermine public conf
dence.
Therefore the plan to leave the entire
question 10 the Interstate Commerce Com
mission has had weight very recently
with the President. Il is proposed also
that the commission should spend d little
more time in Washington. go less about
the country attending to purely routine
business, and give more attention to the
large questions waiting for adjudication.
The President is told that the commission
has not kept as much Ia touch with the
railroad world as it ought.
The uppermOst question with the Presi-
dent to-day is whether he shall unburden
his mind in a public speech. Secretary
C0rtelyOu, who at first thought the Presi-
dent ought to say nothing publicly on the
present paRicky condition of the country,
is understood 10 have changed his opinion
somewhat.
Urged to Make speech.
ference en- the railway situation, attended
by President Roosevelt, members of the
Cabinet, members OF the Interstate Com
Inerce Commission, and others. opinion
was very strong in favor OF the accept
ance by the President of the invitation
extended to him by a delegation of the
Illinois Manufacturers Association TO
make a speech on the railway and indus
trial situation at Springfield on a date 10
be fixed by himself The President ap-
peared to be impressed with the view that
he should make public statement at an
early day. and while he has reached no
definite. conclusion on the subject, the
probability that he would decline the
Springfield invitation is not 50 strong as
il was at first.
According to what was said yesterday,
the President was much interested in the
statement of the Illinois manufacturers
that small investors were being injured by
the prevailing business conditions. 1t was
the opinion of the delegation that IA reas-
suring speech by the President as 10 his
policies with reference to railroads and
corporations would do much to put an end
70 the timidity among those who have
money to lend and generally would tend
peril that now exists.
At the conference the views expressed
by the Illinois delegation were discussed
and the admission was made yesterday in
an authoritative quarter that the Presi-
dent might go 10 Springfield after all
Contrary Advice, Too.
The President. on the other hand. has
been urged in the strongest terms tC
make no public statement. He has beer
told that once he openly acknowledges
the general financial distrust, the situa
ton viii be aggravated and doubts viii
multiply. In most cases where the Presi-
dent receives advice OF a conflicting char
acter he finally accepts that which calls
for positive action. but It was declared
at the White House late yesterday after.
noon that the President was still uncer
tain.
The railroad officials have made no re
gp0nse TO the intimatiOn that il would
be profitable for them 70 gather in con
ference with the commissioners. It is be
lieved they think it would be regarded
as a token OF surrender. Nevertheless
there is a very earnest desire with the
administration that the railroad presi-
dents come here and talk over big ques-
tions with the commissioners. because II
is believed these talks would dispel d
deal of misunderstanding.
President Marvin Hughitt. of the Chi
eago and Northwestern. was here yester-
day 10 attend a meeting of the NObe
prize trustees, and vas one Of severa
luncheon guests at the White House. He
would net acknowledge that he discussed
railroad matters, although il is almost
certain that he and the President ex.
changed views upon the present condt
tioHs.
There has been some uneasiness here
lest the threat of a big strike on Western
roads complicate the situation. Labor
Commissioner Nell conferred yesterday
with Chairman Knapp on the request
from the general managers for arbitra.
ton Steps Will be taken for arbitration
as the Erdmaa act provides but it is moi
believed here that there viii be any
strike.
Is Gathering Facts.
IN the several conferences that he has
lately had with the members of the In.
terstate Commerce Commission. the Presi.
dent has received much information of q
statistical and otherwise instructive char.
acter IN regard to the railways and the
laws to which they are subjected by tbs
Federal government and the States. He
directed the commission several month.
CONTINUED on THIRD PAGE.
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