The Washington herald., 1907-03-30
The SANG Railroad Policy.

There are unmistakable symptoms that
discussion Of the railroad situation is de-
veloping a saner opinion on the part Of
both railway men and the public. A per-
cepuble Sitting of views is going on,
which seems likely to leave residuum Of
sentiment that will serve as a basis for
settlement Of the vexed question of the
relations between the government and the
vast transportation interests Of the coun-
try. So far as the Federal government is
concerned, the people are beginning 10
realize what has been evident all along to
the observing, that its railway policy is
not one Of rule or ruin, but one of CON
servation of the interests both of the
owners and users of our iron highways,
and many railway managers are arriving
at the same point of view. OF this type
of railway men is Chairman Yoaltum, Of
/ the Rock Island who is quoted in a re-
msrkable interview as saying that no rail-
road honestly operated need fear any Fed
eral control that may be imposed. and
/ who believes that railway honesty is one
/ of the prime conditions Of railway pros
Iperity. Mr.. Yoakum declares:
M NliE - 10 Dat4E 4NA Atlc litsCtit aiits-iaA
+ road sentiment but the railroad managers them
selves. Now the day Of reckoning has come. and
it win prove a blessing not only TO the nation but
4 TO the railroads. Fer in almost even where
there have been Illegal operations they have been
in the interests. not Of the reads but Of the men
who control the roads. Very often the roads have
suffered heavily; frequently they have been wrecked.
However in spite Of the present agitation and
the Ty from some quarters that railroad interests
are in jeopardy from oppression. l cannot see that
/ amy lasting damage can be done. Wild and ruth
less speculation in the securities Of a railroad
company should be made subject to criminal prose
cution Stock and bond values should represent
actualties and not hot air though even this con
dition win adjust itself in time.
The paramount problem from the standpoint Of
] government activity is IN the control Of rates
With a practical plan Of Federal rate supervision
I in operation most Of the other abuses Of man
aserial power viii vanish. Some Of them have al
ready disappeared
II President Roosevelt had given express
sion to views OF this sort at any time
within the last two months he would have
been accused of fomenting a dangerous
agitation. and of trying TO destroy the
credit cf the railroads Yet are they not
substantially the Presidents views. and is
it not most significant that they proceed
from one Of the most capable as we'll as
the most honorable Of our railroad men, as
distinguished from the railway financier,
who have brought the management Of
transportation interests into such disre
lpute? Mr. Yoakum has a true conception
of the responsibility of the railroads Il
the people they serve. and he is not 81
Il fearful of regulation intended to enforce
such responsibility as he is of stock job
berry and the manipulation Of railway
properties for speculative purposes. Mr.
Yoakum has lately come from a visit t.
the White House impressed with the prae
ticability and desirability of Mr.. Roose
velt's railway programme. so far as it has
been formulated. he is obviously in sym
pathy with it. as his utterances show. ant
so are other practical railroad men, j
such men agree with the President anC
with sound public sentiment respecting
railway policy. why should there be an!
recession from the present attitude Of th'
\ Federal government?
II We see no reason for a change OF front