The Washington herald., 1907-08-04
Two views as 10 RaiIroad Rates.

]
Several Of our Republican contempo-
raries have rather hastily assumed that
Mr. Bryans three propositions for the ef-
! fective regulation Of railroads are practi-
/ cally those set forth in President Roose-
velt's Indianapolis speech, and so Mr.
/ Bryan is accused Of trying TO rob the
President Of some OF his political thunder.
Can it be possible that the language Of
/ the Presidents latest deliverance on the
subject Of railroad regulation has been so
soor. forgotten? There is a very impor-
| tant difference between the Bryan and
Roosevelt programmes for railroad Tegu-
lation, as we have more than once pointed
out. That difference relates to rate reduc-
tion. which Mr. Bryan favors and Mr..
Roosevelt opposes. Mr.. Bryan declares
for a reduction of railroad rates to a
point where they viii yield only a reason
able return upon the real value OF the
roads" Let US see what the President
said on this point at indianapolis
Ample safe ard rapid transportation facilities
are even more necessary than cheap transportation
There must be just and reasonable regulation Of
rates but any arbitrary and unthakins movement to
cut them dovn may he equivalent 10 putting a com
pete stop to the effort to provide better transpora
gicn'
When the question is Hakedly one Of getting a
lower rate it must be remembered that it is often
possible that those demanding it may he diamet-
yicauy opposed in interest 20 those who demand
better safer and mere rapid transportation service.
and higher wages and shorter hours fer employees
Rates should not he uuduly high. But the inter
csis Of those who build, vho manage. and who
invest IN the railroads uust he no less scrupulousy
guarded thaa tie interests Of the public"
There is a wide distinction between she
conservatism of these paragraphs and the
radical proposition of the Nebraska
statesman that rates should be reduced to
a point where they Will yield only a rea-
sOnable return on the actual value OF the
roads. And the difference becomes still
clearer when we recall Mr.. Roosevelt's
opinion that the railroads taking them as
"a whole, are not overcapitalized, and that
any physical valuation of them VIII be
useful chiefly in determining the reason
ab}eness Of future capitalization, though
il may have some bearing on the question
Of rates But Mr.. Roosevelt warned his
hearers in the Indianapolis speech,
physical valuation is no panacea; it is
no sufficient measurement of rate" In
fact the whole tone and spirit Of the
indiana polls speech are opposed TO every
one Of Mr.. Bryan's propositions. and fail
ure 10 see the difference between the
Roosevelt and Bryan methods Of railway
regulation obscures the real ground upon
which this question viii, in all probability.
be fought out in the next Presidential
campaign-namely, that freight and pas
senger rates are too high. Mr.. Bryan has
accurately gauged public sentiment on
this matter. and has shrewdly aligned
himself with IL.
Whether the people viii give much con-
sderation 20 the more conservative as
poets Of the rate question as presented by
Mr.. Roosevelt remains to be seen. We do
not as yet observe any serious evidence
that they will. Everywhere the demand
IS for a lowering of rates, without much
regard for railroad arguments against re-
duction. The 2-cent fare epidemic has by
no means run its course. and It should be
remembered that Bryan, not Roosevelt, is
reaping the political glory OF 1t, so far as
national politics is concerned.