The Topeka state journal. [volume] (Topeka, Kansas) 1892-1980, 1907-11-20

Iarged terminal facilities. How are
tnese TO be had, and what inducement
can we oner to the capital which must
De willing to invest before anybody
no right to be asserted or wrong to
pc rect1fed, real or alleged, that can
Jake precedence of any issue so vital,
one SO nearly concerning the income,
the employment, the comfort, happi-
ness and prosperity of every one of
our SO million people
"A year ago I said that it would re-
qulre $500. o00,o 900. or 81, 100000. 900 a
year Tor nve years, to make our rail-
road facilities equal to the demands
upon them. Although substantially the
amount OF money suggested by me as
indispensable has been collected and
spent, the railroads have barely held
their own, and the future remains to
De provided for. Not less, but, in the
opinion Of competent judges, perhaps
oo per cent more, must be spent an
huaHy Tor the five years to come.
Ihere are but two reasons, actual
scarcity of money and reluctance to
invest, which Overshadow the outlook
PROMISING enterprises can no longer
be financed on any basis consistent with
present rates and conditions.
A Serious Factor.
"A more serious factor, perhaps the
controlling factor, of the situation in
this country is the shock given to con-
hdence IN our investments all over the
of credit.
Credit is the atmosphere which in
hates the lungs of business, and when
1t Is greatly lessened business must be
reduced In proportion or be quietly
smothered For this reason attacks.
not on individual transgression, not on
dishonest finance, but upon existing
business systems, representing the IA
brio of society itself, may destroy, by
impairing credit. what a generation
could not rebuild. Political campaigns
In many states have been made on the
issue of a general assault of the in
tegrity of railroad property and man
agement. There followed a wild raid,
in which over ITO acts more or less
conf1scatory of railroad property were
enacted by the legislatures of more
than a score of states. The consequence
to the transportation system to rail-
road construction, and through these
to the price of farm products and to
the success of every form of business,
have already made themselves felt,
and the country shivers under the
blow.
eff such continue to be the attitude
of the public mind, there presently will
be no power short of pledge of the
credit of the government itself able
vide more tracks. 1t behooveS every
business man to consider in a purely
business way this business problem.
For 1t is his problem. He individually
will suffer If railroad construction does
not keep pace with business growth.
This is not question of private op1n-
ion or of politics, but one that touches
directly the welfare of all the people.
Must Be Better Feeling.
Before we again realize a favoring ..
disposition to invest there must be a h,
different temper, a larger view of JUS
tice, better appreciation OF what the
done and are doing as compared with |
those of the right of the world. and
settled policy of fair and reasonable |
liberal treatment and protection for the |
future. The duty of the state toward |
railroad property, which should have |
the rights common to other property, |
must be considered as we'll as the duty |
Of the railroad to the public. |
eft is necessary to this end that the |
operations of our railroads should be |
regulated properly by wholesome and |
fair laws. and quite as necessary that |
they should not be regulated improper
are of such scope and stringency that |
no one denies their efficiency. It |
would be easy SO to multiply and add |
to tn cir burdens that the confidence |
ttrely destroyed, and the development |
Of the country prevented. Whether |
this is a time for new enactmentS or |
for a patient. fair and just enforce |
ment of the laws. as they stand, may |
be judged from the records of the past. |
1--WE have read of conflict between |
righteousness and. business. There can |
be no such conflict unless there IS |
fraud at the business end, or hypocrisy |
and cant at the righteousness end. If /
any man has done evil, If any corpora
ion is SHINING against the laws. let him
or it be punished under the law. But |
put an end to wholesale denunciation
ind wholesale prescription destructive
IF all credit, and repugnant to all !
sense of justice, as we'll as hostile to
every business interest in the land.
at is time for the whole country to |
sober down and think out the prob
ems before it. They are serious
enough to call for its best and most /
effort. They are vital enough
% engage the most generous patriot
SIN. A hearty union of all interests.
broad and genuine understanding. and
more cautious, honest and tolerant
altitude in all our public acts will most
promote success in industry
md sanity and permanence in the
lation.'
Judge John C. Pollock Of the United
States district court of Kansas spoke
IN individual and His Government
md Henry J. Allen. editor of the
Wichita Beacon, discussed 1.-THE Press"