Omaha daily bee., 1907-03-13

have the credit for opening the nego-
tiations looking to a peace protocol
between the contendinE forces Of the
government and the managers OF the
transportation facilities OF the coun-
try, J.. Pierpont Morgan is the real
bearer OF the flag OF truce, apparently
authorized by a council OF war Of the
captains OF industry, to make the best
possible terms OF surrender to the
commander Of the administration
forces at Washington. Mr. Morgan
has paid another visit 70 the White
House, asked for a. cessation of hos
Utilities and arranged for a conference
at which peace plans will be discussed.
President Roosevelt, assuming at
least for the purposes Of argument a
'Let-us-have-peace" attitude, has &C
cepted the overtures and in few
days will meet the presidents of four
or I'VE Of the big railroad systems of
the country for the purpose of a gem
eral discussion Of the situation.
Mr.. Morgan. explaining his visit to
the White House. says he acted upon
the request of many business men"
in asking the president to meet the
railway presidents aud confer with
them "as to what steps might be
taken to aliay the public anxiety now
threatening to obstruct railroad in
vestments and construction so much
needed, and especially to allay the
public anxiety as to the relations be-
tween the railroads and the govern
ment. The president said he would
be glad to see the gentlemen named
with this end in view"
The statement Of Mr. Morgan was
supplemented by one from Mr.. Yoa-
KUN of the Rock Island-Frisco sys-
tenn, to the effect that "the agitation
and legislation In various states re-
garding 24cent fares and the reduc-
ton in freight rates have made it al
most impossible for the railroads to
negotiate loans on their securities"
Mr.. Morgan and Mr.. Yoakum have
simply put in different words the con-
fession made by Mr. Hartman a few
days ago that the railroads have been
pursuing mistaken policy, have seen
the error Of their ways. due to the
storm of protest throughout the coun-
try, and are now ready and anxious to
alter their course and adopt a policy
for the future that will embody proper
regard and respect for the rights of
the small stockholders. the shippers
and the general public. They now re-
alize that the anti-railroad legislation
in the various states is the natural
and logical result of their high-minded
methods in ignoring the quasi-public
character of the transportation facili-
ties of the country and their persist
ence in operating them for the benefit
of the captains of industry. the Wall
street cliques, the participators in
mergers and syndicates. with utter
disregard of the rights of patrons who
have made railroad prosperity posi-
BILE. -w .4
The railroad managers are justified
in fearing that the legislative reaction
against their methods will go too far.
Excess follows naturally upon action
due to anger and the outrage Of rights.
1t will require some time to ascertc n
whether the railroad managers have
too long deferred the introduction of
their program of Cancellation. They
have every reason to hope and believe
that President Roosevelt. whom they
have abused for his radlcalism. will
grant them consideration which the
country in its present state Of resent
ment against railroad abuses will be
slow to think they deserve. While
the president has been the prime
mover in the campaign for reform in
transportation matters, his every mes
sage and utterance on the subject has
contained the assertion that the need
OF the country was to secure such con-
troll and regulation of corporations as
would prevent them from injuring the
public, at the same time doing nothing
to discourage legitimate institutions
doing a legitimate business.
UnQuestionably this is the attitude
the president will take in the coming
conference with the railroad presidents
Investigations during the last four
years have furnished him with food
of data relating to the transportation
abuses and the evils Of high finance In
railroad management. so that he win
be in position to gauge the sincerity
of the railroad presidents in their pro-
testations of determination TO aban-
don their public be did" policy. II
he is convinced of the sincerity of
their claims there is little doubt that
he will tender his services in a pro-
gram Of cooperation for the public
good.
LESSON or THE LONDON ELECTIONS.