The Richmond palladium and sun-telegram. [volume] (Richmond, Ind.) 1907-1939, 1907-05-30

such move as this is in the interest of
honest railway operators. of honest
corporations, and Of those who. whec
they invest their small savings in
stocks and bonds. wish to be assured
that these viii represent money hon
estly expended for legitimate business
purposes. To confer upon the nation
al government the power for which |
ask would be check upon overcapitali-
cation and upon the clever gamblers,
who benefit by overcapitaiization. But
! ii alone would mean an increase in the
value. an increase in the safety of the
stocks and bonds of law-abiding. hon
estly managed railroads. and would
render il far easier TO market their
securities. | believe in proper pub
icity. There has been complaint OF
some of the Investigations recently car
ried on. but those who complain should
put the blame where it belongs-upon
the misdeeds which are done in dark
ness, and not upon the Investigations
which brought them to light. The
administration is responsible for turn.
/ ing ON the light. but il is not response
bic for what the light showed. l ask
for full power TO be given the federaii
can by legislation effectually cope With
these powerful corporations engaged
in interstate commerce. and. while. do
+ ing them full justice. exact from them
/ in return full justice to others. The
conditions of railroad activity. the
conditions of our immense Interstate
commerce, are such as to make the.
central government alone competent
to exercise full supervision and control.
Will Punish Dishonest.
The grave abuses in individual cases
of railroad management in the past
represent wrongs not merely to the
general public, but above all. wrongs
to fair-dealing and honest corporations
and men of wealth because they excite
a popular anger and distrust which
from the very nature of the case tends
to include in the sweep of it's resent
ment good and bad alike. From the
standpoint of the public / can not too
earnestly say that as soon as the natur-
al and proper resentment aroused by
these abuses becomes indiscriminate
and unthinking. ii also becomes not
merely unwise and unfair. but calcu-
lated to defeat the very ends which
those feeling it have in view. There
has been plenty of dishonest work by
corporations in the past There will
not be the slightest let-up in the effort
to hunt down and punish every dishon-
est man. But the bulk OF our business
is honestly done. In the natural in-
dignation the people feel over the dis
honesty, it is all-essential that they
should not lose their heads and get
drawn into an indiscriminate raid up
on all corporations. all people OF
wealth, whether they do we'll or i'll.
Out of any such wild movement good
Will not come. can not come, and never
has come On the contrary, the surest
way to invite reaction is to follow the
lead of either demagogue or vision
airy in a sweeping assault upon prop
erty values and upon public confidence
which would work incalculabe damage
in the business world. and would pro-
duce such distrust of the agitators that
in the revulsion the distrust would ex-
tend to honest men who, in sincere and
sane fashion, are trying to remedy tho
evils.
Better Facilities Needed.
The great need of the hour. from the
standpoint OF the general public-of tho
producer consumer. and shipper alike
lis the need for better transportation
facilities, for additional tracks, addi-
tional terminals. and improvements in
the actual handling of the railroads,
and all this with the least possible de-
lay. Ample. safe and rapid transport
tation facilities are even more neces-
sary than cheap transportation. The
prime need is for the investment of
money which will provide better ter
minal facilities, additional tracks. aud
greater number of cars and locomo-
tiyes. while at the same time securing
if possible, better wages and shorter
hours for the employees. There must
be just and reasonable regulation Of
rates. but any arbitrary and unthink-
ing movement to cut them down may
be equivalent to putting complete
stop to the effort TO provide better
transportation.
There can be no question as TO the
desirability of doing away with re-
bates or any method of favoring one
shipper at the expense of a competition.
and direct dealing with rates is some
times the only method by which this
favorlfism can be 2roided; but where
fayoritism is not alleged, and when the
question is markedly one of getting q
lower rate. it must be remembered that
it is often possible that those demand
ing it may be Numerically opposed
in interest TO those who demand a bet
ter. safer. and more rapid transporta-
ton service. and higher wages and
shorter hours for employees. II the
demand for more taxes, for higher
wages, for shorter hours for employees,
and for lower rates becomes so exeRs-
siye as to prevent ample and speedy
transportation, and to eat up the legit-
innate profits: If popular and legisla-
tive movements take a shape SO iIl-
directed as not only to threaten hon.
est investments and honest enferpris-
es. bat also TO prevent any effort for
the bettermenf Of transportation IA
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