The Birmingham age-herald. [volume] (Birmingham, Ala.) 1902-1950, 1907-01-09

than they are now making. Many of
them have deserved criticism. but some
of the criticisms of today are as foolish
as One l read a few days ago about Harrf-
man. IT, said this critic, Hartman
had spent upon the Improvement of his
roads the vast sums he has handled, in
stead OF using this money for speculation,
the public would not have much cause to
complain
Now the one thing Hartman has done
has been to pour out money for improve
ments with a liberality never equalled.
except by the Pennsylvania railroad. Take
for example the Southern Pacific. which
many railroad people thought was in good
physical shape when Hartman got con-
troll of it five or six years ago but he
saw its needs and in that time has ex
pended over $100000,000 in lettering the
physical condition of that system. on
the Union Pacific he has spent still larger
sums but for this work, both of these
roads would be in wretched physical and
poor financial shape. However much Har-
riman may be justly criticised. he and
Cassatt were above many others able
to look ahead and prepare for this time
of world expansion in trade. Now, we
have come upon a time when business
has so far outrun our transportation ia
cilties that it is absolutely impossible
for many railroads to meet the needs of
the hour.
Regarding Pig Iron.
I'm 1900 when we were producing 1900
900 to 13o00,000 tons of pig iron per year,
it was thought to be foolish to predict
that the iron trade would double within
ten years, as it had done during many
preceding decades. Comparatively few
people We're rash enough to believe that
by 1910 we would be producing as much
as 25,000.000 to 26,000.000 tons of iron, but
we have reached this condition four years
ahead of time. We are already produc-
ing over 25,000,000 tons, with a probability
that this year the output will exceed
27, 900, 900 tons.
what has taken place in the iron trade
has been duplicated in almost every other
line of human activity except in the
construction of railroads and the develop
ment of railroad facilities and in this
the railroads are not wholly to blame. It
was impossible for them to foresee these
conditions, and they could not well un-
dertake to go so far ahead of what looked
like a margin of safety. We now face
the situation that 1t would take $4,000. 900 =
900 to 5000, 900 to properly expand the
railroads of the country to meet the pres
ent business conditions. and 1t would be
almost impossible to forecast what may
be needed in railroad expansion during
the next ten or fifteen years.
''It Is almost certain, however that
within ten years our production of pig
iron will again double and that we will
then have 50.000,0O0 tons instead of s25,-
100000 tons and that our coal output of
425, 900 900 tons last year will by that time
have grown to over 100000 tons. In the
light of such expansion, and in studying
this condition, 1t should be remembered
that there Is a worldwide expansion and
activity and prosperity such as man never
saw before.
Future Expansion.
ut Is difficult to measure the expansion
of the future, but 1T is certain that the
needs of the future in transportation will
fully tax the financial and railroad
powers of America, to provide the money
NEEDED for actual construction work. and
enlargement of transportation facilities.
Really. it is difficult to see daylight on
this side OF the question. and to find
a way In which the railroads can pro-
vide the money actually needed to over
come their present congested condition.
Regardless Of temporary reactions and
temporary financial depressions we have
entered upon period of growth and
expansion in iron and steel and coal; IN
agricultural prosperity, and In Transport
tation needs beyond anything that the
wild st optimist would have conceived of
five or ten years ago.
All the wisdom and financial skill of
the country will be required 70 expand
our transportation facilities and our bank
ing resources rapidly enough to keep pace
with this wonderful era upon which we
have only Just entered. The worlds golden
era of prosperity and opportunity is dawn
ing upon mankind. The meridian splendor
OF midday Is not yet even in sight,
.s-