The comet. (Johnson City, Tenn.) 1884-1916, 1907-04-11

service, and the margin Of profit is now
so low that any material reduction of
rates would impair earnings and credit.
In the nature of things, the south can
not have both lower rates and better
service. The choice must be made be-
tween the two, and / am sure that the
intelligent business men of this section
will agree with me that improved facil-
tiles are more urgently needed than
any reduction in charges.
Unless the prosperity of the country
is to be retarded large sums should be
expended for railway extension and
betterments, and the funds needed
must be obtained from private invest
ors. In the early days of railway con-
struCtion, when communities were vie
ing with each other to secure roads,
governmental aid in various forms was
given by the nation, by the state and
by municipalities. In almost every
state this policy was pursued to q
greater or less extent, some of the
states and cities gong 80 far as to I'M
dertake the ownership and operation OF
railway lines. These early experiments
in governmental ownership were no.
where satisfactory, either to the tax
payers who had to foot the bills or to
the users of transportation, and all
these lines have been sold or leased to
private corporations. The day of state
aid to railways in the United States
has passed, but the, necessity for rail
way construction which gave rise to it
still continues in the southern states.
The money that must be supplied will
have to be furnished by private invest
ors and it is absolutely essential that
the intelligent people who control the
destinies OF these states shall accord to
the money invested in railways the
same degree of protection under the
laws that is given to investments in all
other kinds of property. We must not
overlook the fact that the investment
of capital for other purposes very often
depends on the existence or promise OF
transportation facilities.
The great need in the economic situ-
alton at the south today is that its peo-
ple-not few here and there, but that
the whole people-should recognize the
fact that the period of railroad con.
struction has not passed, but there il
as much need of encouragement-not
now in the shape of financial contribu.
tions, but in the moral favor and sup.
port Of the public-as there ever was
to railroad enterprises. Former gener.
ations favored the building of railroads
and the single track railroads of the
south are the result. They were ade-
quate for their time, but the enlarged
energies and productive capacity of the
people now can no longer be adequate
ly served by existing facilities, and en-.
largement and improvement of existing
facilities are as much needed now in
the interest Of the people as the estab.
lishment Of railroads was fifty years
ago. This enlargement and improve.
ment cf facilities can only be created il
the public purpose is favorable and the
public sentiment cordial and co-opera
tive.
The extent of the Investments in rail
way property already made in this sec
ton can best be realized by comparison
with governmental expenditures fol
river and harbor improvements and fol
federal buildings. The total railway
capital invested in roads south of the
Potomac and Ohio and east of the Mis-
sissippi amounted June 80, 1906, &C
cording to the interstate commerce
commission figures, to $1,677, ,O73, ,67t
1t can be demonstrated that this sum
vast as it is, falls far short of repre-
senting the fatal amount that has actu
ally been put into railways in this sec
q ton.
i But compare the figures with the to
tai expenditures for rivers and harbors
crediting this section with one-half tn,
amounts expended on the Mississippi
the Potomac and the Ohio-boundar,
streams. The total, from the earlies
appropriations to the present day, in
Guiding the large amounts carried b,
, the bill that has just passed congress
, is only $144, 002, 1853. All expenditure
on public buildings in this section
} from the foundation of the government
including the purchase of sites, ereC
} ton of buildings, aud annual repairs
; amount to only So, ,615,6l6. These fig
. ures show that the railways of this sec
r tion have cost nearly twelve times a
. much as all river and harbor improve
r ments and more than 7S times as muc
q as public buildings.
9 This comparison between the exper
e ditures of private capital for the COZ
/. struction aud operation of railways an
e the expenditures of public money fc
r the Improvement of rivers and harbol
suggests the striking contrast betwee
It the public attitude toward carriers b
b water and-carriefs by rail. The carrie
!, by water not only pays nothing for b
g highway, but the people of the countr
y tax themselves millions of dollars al
IS nually for its Improvement and mail
IS tenance. He is taxed but lightly on h
o vehicle and is subjected to neithl