The times dispatch. [volume] (Richmond, Va.) 1903-1914, 1907-08-20
S RONG VIEWS ON
RAILROAD CONFLICT
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doubtedly be subjected to reasonable
regulations. The great consultations
have rendered supervision more than
ever necessary. Te tell me that three
great railroad systems practically con-
trolled by three men) should have n
whole section of this country in their
grasp, and should be allowed to make
rates and rules to suit their pleasure
and caprices. is absurd.
THE feudal barons Of old only de-
manded tribute as a stranger passed
through their territory, and to expect
any section OF this country to submit
to any one. two, three or more men
who happen to be in control of the
railroads, and some of them by ques-
tionable means, Is to reflect on the
Intelligence of the citizens OF this
country. But this does not Justify
injustice or too arbitrary ruling, nor
does it Justify conhscatIon of prop
erty.
THE State must offer inducements
for the investment of capital, not only
in railroads, but in other industries.
This is necessary for the prosperity
of this section and for the whole coun-
try.
THE railroads and other corpora
lions must know that they are to obey
the law. and obey it just as thoroughly
as any private citizen.
The State must know that only
by just and liberal treatment can the
investment of capital he procured; that
the present conflict is disturbing the
conditions of the whole country and
bringing about business conditions
much to be deplored. Money at time
most needed Is being withdrawn by
the tim.l Investor. Ionocent holders
of stock all over the country are suf-
fering. New constructions of all lsirds
have stopped and nothing but restored
confidenc, can stem the Ieceding tide
o. prosperity.
1T is cheap politics-the parade of
the big stick by indiscreet politicians
Many hosanna is raised to-day where
there will be a "crucify him" to-mor-
row
Suppose corporation has done
wrong. and it has been righted. Does
this justify the great parade of 1t, and
in such a manner as to brighten the
capitalist and the investor? The COR
poration is a child of the State. Is a.
parent going to parade the chastise-
nlent of the child? The State is very
powerful. and is in position by threats
to enforce regulations that are unjust.
Samson could pull down the temple,
but he was caught under 1t. The State
10 SlioIS anu Cal pun uoNii tiAe lSiHFitl
of prosperity. but its citizens will be
caught under it.
The pillars have already been sha
ken. Let the State build up, not de-
stroy, the structure. Now that the
States have won out and have demon
Istrated their power. let them pursue
such a course that will restore conf
dcnce and invite the investment of
capital. The State can afford to be
erf had II "a
sustained than an Injustice done,
Let the officials of each State in which
rate legislation has been enacted
promptly announce that capital will
have every protection and will be al
lowed to make part returns; demon-
strate 1t by voluntarily allowing an
injunction to be gotten out in the
United States courts restraining the
enforcement of the new rates until
they can be passed upon by even a
court selected by the railroad officials.
A law curtailing the revenue of any
corporation should be so just that any
court would promptly sustain It,
I'VE have had most prosperous times
under the present rates. Why change
them in face of such a violent protest,
when wages and cost OF construction
have Increased out of all. proportions
to the revenue? Capital has been tho
roughly frightened, and 1t is only nat
ural that it should be. Much better
old rates and good times than the new
rates and dun times, The change.
shuld not be made at such a terrible
cost to the commercial interest
let the railroads, through their
officials promptly issue statement
that the laws OIL the State will not be
violated that under no circumstances
will rebates be allowed, and assure
the public that as the revenue in
creases the rates will be judiciousy
reduced, and that with increased re-
turns to the stockholders the public
will get better service and lower rates,
t"Out Of this conflict good will have
come, confidence restored. and there
will be better feeling among all classes
towards railroads and other corpora
tions.
"untll something Is done to restore
confidence, extreme caution should
be taken In making Investments Not
an obligation should be Incurred until
the money arrangements have been
made in advance. The party who has
made his preparation. In advance will
mot suffer, and il all will do this there
will be no crisis to pass through.