Weekly Arizona journal-miner. [volume] (Prescott, Ariz.) 1903-1908, 1907-06-05

them ms TO national bank shares, and
We would presently see these people in
vcsting in railroads, and thus opening
new reservoir from which TO draw
the capital now 40 much needed for the
extension and bcttermcnt Of the rail
roads.
All this, my friends, is substantially
what I have said over and over again.
Surely, IL ought not TO be necessary TO
say that IL in no shape or way repre-
sents any hostility TO corporations az
such. One tine contrary, IL means a
frank recognition OF the fact that
combinations Of capital, like combina.
tions Of labor, are u natural result
Of modern conditions and Of our ma.
tional development. As far as in my
ability lies my endeavor il and will
be TO prevent abuse Of power by either
and to favor both 50 long as they do
well. The aim Of the national govern.
ment il quite as much 10 favor and
protect honest corporations, honest
business men Of wealth, as TO bring 20
justice those individuals and eorpora.
tions representing dishonest methods.
Most certainly there will be no relax.
alton by the government authorities in
the effort to get at any great railroad
wrecker-any man VINO by clever
swindling devices robs investors, OPP
presses wage workers, and does injus.
tiee to the general public.
To confer upon the national govern.
ment the power for which ask would
be "a check upon overcapitalization and
upon the clever gamblers, who benefit
by overcapitalization. But il alone
would mean an increase In the value,
an increase in the safety Of the stocks
and bonds Of law abiding, honestly
managed railroads, and would render
u far easier TO market their securi.
ties. i believe in proper publicity.
There has been complaint Of some Of
wv s"NNrbk"siohr ou,
but those who complain should put tae
blame where II belongs-upon the mis-.
deeds which are done in darkness, and
not upon the investi cations which
brought them to light. The admins.
tration 10 responsible for turning on
the light, but IL il not responsible for
what the light saowed. ] ask for full
power to be given the federal gov.
eminent, because no single state can
by legislation enectually cope with
these powerful corporations engaged in
interstate commerce, and, while doing
them full justice, exact from them in
return full justice 20 others. The con.
diti0us Of railroad activity, the con.
ditions Of our immense interstate com.
mercs, are such - TO make the cen.
trail government alone competent 10 ex.
ercise full supervision and control.
There will not be the slightcst let.up
In the effort TO hunt down and punish
every dishonest man. But the bulk Of
our business In honestly done. In the
natural indignation the people feel over
the dishonesty, II 10 all-essentisl that
they shoulA not lose their heads and
ct isto IN indiscriminste raid upon
oil corporations, all people Of wealth
whether they do we'll or III. Out Of
any such wild movement, good will moi
come, can not come, and never has
cone. On the contrary, the suYsst way
TO invite reaction u 10 follow the lead
Of either demagogue or visionary in q
sweeping assault upon property values
and upon public confidence, which
would work incalculable damage In
the business world, and would produce
such distrust Of the agitators that in
the revulsion the distrust would extend
to honest men who, in sincere and sans
fashion, are trying to remedy The
evils.
The great need Of the hour, from IN,
standpoint Of the general public oil
the producer, consumer and shipper
alike-is the need for better transpor
tation facilities, for additional tracks
additional terminals, and improve
ments in the actual handling Of thu
railroads; and all this with the leas
possible delay. Ample, safe, and rapi,
transportation facilities are even NOR
necessary than cheap transportation
The prime need Is for the investment
Of money which will provide bette
terminal facilities, additional track
and a greater number Of ears and loco
motives, while at the same time secur
ing, IL possible, better wages an'
shorter hours for the employees Their
must be just and reasonable regulation
4 80 k,,N