The Denison review. [volume] (Denison, Iowa) 1867-current, 1907-06-05
Punish Wre, kers.'

les W Xct dC any great railroad
wrecker-any man, who by clever
swindling devices robs investors, OPP
presses wage workers and does in
justice to the general public.
To confer upon the national govern
ment the power for which ask would
be check upon overcapitalization
and upon the clever gamblers, who
benefit by overcapitalization. But
it alone would mean an increase in
the value. an increase in the safety
of the stocks and bonds of law abid-
ing, honestly managed railroads, and
would render it far easierto market
their securities.
More Facilities Need. d.
The great need of the hour. from
the standpoint of the general public,
of the producer. consumer and ship
per alike-is the need for better
transportation facilities. for addition
al tracks. additional terminals and
improvements in the actual handling
of the railroads: and all this with the
least possible delay. Ample. safe
and rapid transportation facilities are
even more necessary than cheap trans
portation. The prime need is for the
investment of money which will pro-
vide better terminal facilities, adj
ditional tracks and a greater number
of cars and locomotives, 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 unthinking move
ment to cut them down may be equi-
valent to putting a completes stop to
the effort to provide better trans
portation. FL
When the question is markedly one of
getting lower rate, it must be re-
membered that it is often possible
that those demanding it may be di-
ametrically opposed in interest to
those who demand better, safer
and more rapid transportation service.
and higher wages and shorter hours
for employees. If the demand for
more taxes. for higher wages. for
shorter hours for employees. and for
lower rates becomes SO excessive as to
prevent ample and speedy transporta-
tion, and to eat up the legitimate
profits: if popular and legislative
movements take shape so i'll direct
ed as not only to threaten honest in
vestments and honest enterprises, but
also to prevent any effort for the
betterment of transportation facilit-
les. it then becomes out of the ques-
ton to secure the necessary invest
ment of capital in order to bring
about. an improved service.
Rates should not be unduly high;
there should be thorough safeguard
ing against accidents: there should
be no improper Sinking of taxes
the shippers of the country must lie
supplied generously with cars and all
other equipments necessary to proper
ly care for our commerce. and all this
means that the national government
must be given full and effective power
4 of supervision and control. But the
interests of those who build. who
manage and who invest in the rail-
roads must be no less scrupulously
guarded than the interests of the
public. 1t is urgently necessary at
the present time. in order to relieve
the existing congestion of business
and to do away with the paralysis
which threatens our expanding in
dustries, because of limited and in
efficient means of distribution, that
our railway facilities should be so in
creased as to meet the imperative de-
mands of our internal commerce.
The want can be met only by private
capital. and the vast expenditure
necessary for such purpose will not
be incurred unless private capital is
afforded reasonable incentive and pro-
lection. 1t is therefore a time nee
essity to allow investments in rail-
way properties to earn liberal re-
4 turn return sufficiently liberal to
cover all risks. We cannot get an
improved service unless the carriers
of the country can sell their securit-
les: and therefore nothing should be
done unwarrantedly to impair their
credit nor to decrease the value of
their outstanding obligations.
Railroads in Politics.
Undoubtedly many high officers
among the railroad men have followed
the extremely unwise course of en-
deavoring to defeat the enactment of
proper laws for their own control, and
of endeavoring to thwart. obstruct
and bring into discredit the admins
uration of the laws. But the folly
of some of their number in no way
alters our duty. nor the wisdom of