The news-democrat. (Providence, R.I.) 1906-1909, 1907-07-19
GIVE RAILROADS
A Fair DEAL,
SAID FINLEY

Nahsville, July 1o.-President w. Fin
ley OF the Southern railway In recent
address before the Nashville board oi
trade, said:
Among the most persistent misrepre-
eentations that have been made are those
rs to the alleged over-ca apitalization Of
the railways, ana the effects OF this al
legged over-capitalization on transportation
charges. In spite OF the statements Of
President Roosevelt. Chairman Knapp Of
the interstate commerce commission and
other students OF transportation ques-
tions OF the highest standard II Is still
asserted that, but for the fact that they
are earning dividends on large amounts
OF watered stock, the railways could re-
duce their rates and improve their SER
vice. That rates are fixed by economic
conditions beyond the control OF railway
manager. and not by capitalization. and
that they cannot be adjusted arbitrarily
has long been recognized by practical rail-
way men and students of transportation
problems.
by the adoption OF legislation in some
OF the states, which reduces the reve-
nues OF carriers far below the point OF
confiscation. the railway manager Is con-
fronted with a serious problem. The con-
stitution OF the country says that this
shall not be done in the same solemn
terms that II declares that no individual
shall be deprived of his property or OF
his liberty without just compensation or
without due process or law. And when
there is legislation enacted contrary 20
the constitution, taking from a railway
company its property or interfering with
its lawful enjoyment of II. and an effort
is made by those charged with the re-
sponsibility for the property 10 obtain for
II In the courts constitutional protection,
q xxsAA nola hat Id Dc q
defiance OF the popular will l submit 10
you that legislative enactment which
Is contrary 10 the constitution Is not the
expression OF the popular will and no man
and no interest should be denounced for
asking at the hands Of the courts OF the
country the protection 10 which the con-
etitution entities them.
There can be no difference OF opinion
as TO the propriety OF legislation for the
proper regulation OF railways. ] do not
Justify or defend any railway practices
that are wrong, or any railway policies
that are hurtful Such legislation as is
necessary for the full protection OF the
buyers OF transportation I'm all their rights
for the prevention of unreasonable or
exorbitant charges, and for the preven-
tion OF undue discrimination between
shippers or travellers-shoud be enacted
and should be scrupulously obeyed by ev-
cry railway manager. On the ethical side
OF railway management II Is entirely rea-
sonable and proper to legislate, but on
the economic side legislative enactments
should be divided.
"As q result Of the awakening OF the
public conscience and OF the corporate
conscience as well a great deal has
been accomplished on the ethical side OF
railway management. The grounds Of
just public complaint against the railways
have been substantially removed. 1t is
the right and duty OF the government TO
protect the buyers of transportation from
oppression and wrong. 1t Is no less
the right and duty of the government to
protect the railways from oppression and
wrong"