The Montgomery advertiser., 1907-04-02
EDDY TALKS OF RAILROADS akes Statement of His
 Views. E NOT UNFRlENDLY TO THEM ke,tdates Position He Has Taken in Previous Messages. oem nesssves ia Regulation and Super vasasa q Combinations of Capital Dat wouId Not Prohibit
 Then Entirely.
E NOT UNFRIENDLY TO THEM

vyaehinxton, April 1.--President ]. Nooeevelt has decided not to accept fha lnvitation of the Illinois Manufac- turers Association to deliver speech Fl oprfugfleid, H., on the railroad sit- s1atfou. He addressed . letter yester- lav to e. H. smith, President or the Associatiou. stating that 1t would pc lrnnoseible to accept their invitation, 6xfenSled last week. because he did not eeel that he had anything to say al fhie time In special address on tnis special subject.
 The President has received a great number of requests for . statement by Him. or q speech to be made by him m connection with the railroad situation. { He has given these requests the utmost wai9ht and most careful consideration. Affer fuily looking into the matter the President informed his advisers that he had come to the conclusion that there was nothing new which he nad rituaffon: that he did not deem 1t either wise or proper to say anything xvifh . view to any immediate situa- tfon In Wall Street, and that as ne ahouid only give expression to the def- inite and settled policy to be carried out wholly without regard to the exi- wencies of the moment, and as ms views on the policy in question were already n matter of record. 1t did not 1een, necessary at this time to repeat them.
 TO the different men. friendly and ,1nfrfendly, who have visited him or written to him, he has answered verp- ally or In writing that his words ana acts spoke for themselves and need. "a no explanations whatever and that he should not in his future course de- s-s- he has pursued In the past and was now pursuing.
 The statement was made from an authoritative source today that "even . most cursory examination of what tho President has repeatedly said In speeches and messages will show the utter nonsense of supposing the Gov ernment has the slightest intention to take any action which would invaii- date the safety and stability of the railway securities now issued, the whole legislative program of the Pres ident having been proclaimed again ana again as one to insure the future against the mistakes and delinquen- ciss of the past The President holds that every executive action taken un- der his administration, whether by the Department of Justice or by the In- terstate Commerce Commission. has furnished It's own ample Justification.
 It was pointed out today in admin sstrative circles that the President has made no references in his speeches or messages to the question of the phys teal valuation of railroads. His posi- ton on this question, it was said, was that the railroads themselves will work out this problem as an Item of book keeping and reference was made to the fact that two roads, the Northern Pacific and the Great Northern. al- ready have submitted figures as to their physical valuation.
 It can be stated on authority that the President again win ask Congress a4 it's next session for power to deal with the question of over-capitaliza- Feicn of railroads. A similar request skvas made at the last session but fa- yorabIe action was not taken upon 1t
 m his letter to MT. Smith, the Pres sdent enclosed copies Of the speech i,e made at Raleigh. N. C.. October 19 1905. and the one he delivered before \ delegation of railway employees in this city on November 14, 1905. togeth- er with his last messages to Congress