The Ordway new era., 1907-06-07
CONTROL
AvERNMeNT'o PoLicv
b RAILROADS CLEARLY
DEFINED.
|eG1 At lpIAnAPoLIs
kiai Day Speech eristiing
! Aphorisms and pstrI-
otic Sentiments.

otic Sentiments.
hollis. May 30.-Presldcnt
today made the principal
I, the unveiling OF a monu-
General Henry W. Lawton.
ch was devoted to a discus
Ailway problems and inciden-
a warm tribute to oliver
he war governor of Indiana,
Ireat problem that we have
is TO preserve the rights OF
and these can only be
II we remember that
In less Jeopardy from the
and the Anarchist than from
btory man Of wealth.
become evident that to re-
woke the power of the nation
I'm the wrongs committed by
OF great wealth who does evil
hly to neglect the interests of
4, but Is to neglect the inter
he man OF means who acts
n by his fellows.
bower Of the nation must be
10 stop crimes Of cunning no
crimes Of violence.
can be no halt in the course
deliberately elected TO pur-
policy of asserting the right
tion so far as II has the power.
Mise and control the business
Gealth. especially in its cor
brm.
wish 10 say n word 10 YOU
} first and most important fea.
this task. the control OF the
carriers doing an interstate
a control absolutely vested
ation. while in 30 far as the
carriers also transport the
Is in my opinion probable that
their business tx or liz not in
II Is TO the same extent sub.
federal control. under that
the constitution granting to
bnal government power TO cs.
bst roads and therefore by nee
duplication power to take all
Dccessary In order to keep
the highest point of efficiency.
federal law dealing with cor.
or with railroads that has
upon the statute books during
six years has been a step in
In the right direction. All ac-
len by the administration un.
be and the pre-existing laws
b just and proper. Every suit
ten during that period has
)uit not merely warranted. but
by the facts: n suit in the
of the people as whole, and,
png run. particularly in the in
stockholders as well as in the
of business men OF property
n. There can be no swervinS
be course that has thus been
out in the legislation actually
and in the messages in which
psked for further legislation.
pest serve the interests Of the
failwsy men when we announce
will follow out precisely this
the course of real. OF ultimate.
htiSm.
fe will be no halt in the for
pvement toward a full develop
this policy; and those who
TO take n step backward or to
Fill, II their wishes were real
Puld find that they had invited
Preak of the very radicalism
Pr. There must be progressive
|ve and administrative action
correction of the evils which
|ncere man must admit to have
|in railroad management in the
additional legislation. as that
|ch | have asked in the past.
|ecially that for which I asked
message at the opening of the
'ssion Of Congress. is not
In the interest of the public
u emphatically in the interest
honest railway manager and
INVESTORS or would-be investors
'ay securities. There must be
n the federal government a full
u supervision and control over
ways doing interstate business;
in many respects analogous to
complete as that the
nent exercises over the
banks. 1t must pos
ne power to exercise Sill
n over the future issuance of
md bonds. either through a ma
Incorporation (Which should
or in some similar fashion,
pervision to include the frank
OF everything which would-be
s and the public at large have
to know.
federal government will thus
TO prevent all overcapitaliza-
ne future; to prevent any man
II from plundering others by
railroad properties with obli-
and pocketing the money in
spending 1t in improvements
legitimate corporate purposes;
man acting in such fashion
,e held to a criminal accounta-
u should be declared contrary
= policy henceforth to allow
TO devote their capital to any
u the transportation business,
not to hazards of snecrlation