The Seattle star. [volume] (Seattle, Wash.) 1899-1947, 1907-05-30

Tor SHAT wHh done in the ftHli vat.
size sill pat ths services of 70 othHf
civilian save alone those - Lincoln.
ahead ~ the services u Governor
Morton No other man who render :
81 sarh services aa De rendered
worked under such terrible disad
RanfaRes and nu man without hts
iron power could have achieved
two FsarH ~ tie war WHEN he
managed the state government II
Indiana SOLELY or money obtained
ID utrdFinF bic own personal hen /.
o. anu personal fortune. aud set
never for ere moment reiaNsd in The
hfip h. gave - Lincoln Hud Chasr
end Hsaafa and stanton in the cab &
mot 90 Grant and sherman and
sheridan ana fHomas in She NetA
o. VAS work that 0ni8 the strongest
work vitality necesHaFs for the sake
81 the nation 60 do.
se~iai srsslsms
Great social ard Industrial prob
lens confront 80. and their solution
courage. and yet wlHe. good nat
ured saff-fahtralnt 80 that on the
one hand SO shall neither be daunf
81 ~ difficulties nor fooled -
those WHO would sssh 90 psrEuaaa
Bs that the difficulties are iusan
sfhbis while On the other hand
We are not misled into showing
either faaaHsss nf NtndictiFen#ss
amer the Railroads.
To-day ! wish % say word 20
+ fou shout the first ard meat lHa
poftant feature ~ fhis task fHs
rontrai - she common carriers do
+ ina 81 interstate business eens
troll absolutely vested 81 the nation.
willie in - faf So ne common car
firFs alec transport fhe Haeiis n fs
ia mlf opinion probable fhat .Mheff-
ef their business 8, or r. not inter
state % - % fhs same extent sub
frct 60 FEDERAL control. under tat
claus ~ fhe constitution granting
90 tue Nnfianas auFefnfhfHf power
g establish pet foaas and there
fore - necessary Implication pow
~ u take aii artian necessarF IN
order 90 keep them - the highest
point - affirifufr
Every Federal las dealing with
corporations o. with railroads that
has been Huf upon the sfsfute books
during fhs last sla Feafs has been
step in advance iu the right ~
fertiau. Al nefGou taken hY the
administration under these aud the
prssstisting lass has been Just and
Kvsry suit undertaken during
that period has been q suft not
merely warranted bnf Feqairsd. ~
faefs q suif 81 the intsreet ~ fbe
people ~ whole. and. iH fhs ianN
run particularly IN the Interest -
~ ~ b holders a. well So IN the tm-
t~rrst ~ business msn % property
generally. There can - no sWeFkr
inH from Ere course that So fhus
been mapped out Va tire legislation
Actually ensrtea and a. fhe mess.
sEsa n whteh I have asked Tor FUR
We brst smrva the Interest - hne
rsf railway men Nhsm 80 announce
that 80 All follow uut precisely
this eoufse. ~ Il this course ~ real
~ ultimate rensers attain. There
WI e ne halt On Size farwafd
movement toward fuii develop
Wth8 ~ this paiieg. and these
who NtFh "a "a take = step hark-
ward ~ a. stand stili. II their
risHrH ssfs realized. would find
that they hAd invited an outbreak
~ she VERY radieaiisra thsv tear
There Wust - progressive lea
lslafaNs aHd administrative action
for TIE correction 81 tie evils watch
ever sinfete man must admit -
haze existed IN railroad manage
Ash. t~gt.intlsa.
such additional legislation 80 that
Tor which ! have asked in the past
snd especially that Tor which Z
opening Or The lssi session - con.
Ereas. 10 net merely IN the interest
- tire public. but most rmtrhhtfenffV
o. ths Interest Of every honest fatfs
saT manager ard 81 al Investors
- would ,. Investors IN railway
The man ~ke builds great ran.
NHf aud those Nhn invest IT. a. rem
der a crest ruhiic service for ads-
qnata transportation facilities are a
vital necessity e. the country We
faauf fuN and ample return e. such
men but We du not favor a policy
~ sNpiQifinE the many Tor the benS-
nt - The feH We favor the railway
man who operates hts rnNwaN ufnn
"a stfnlEhtfuFward ana nfsen husinea.
basis. from The standpoint q l.rfua.
nrnt Investment and who has an
Interest Ia IT, future 80 are against
nnlN the man who cares unfhfrr f8r
We property after his speculative
deal ln Sc securities has heen clusnzf
We favor The railway manager Who
srFrs in clasn touch with the people
at1HE tiH line. rather than iu close
. tnueh Win The spcc uiatiVe market
who operates hss line Nith : Virw Ia
the advantage he ear isFfiimaseiv ret
"ut 20 his railway as " permanent
Investment ~ giving . Fair return AZ
fte stockholders and 10 the puhstc
Eua1 service with reasonable rates
who docs not opsrafa his road vfth
a view 20 the temporary aurrutaffts
adNanfaEr which uin follow cauffal.
sHlnE an uncertain future ard unload.
inr tho securities on the public
Much u said about the inability %
tahRal presidents % agree among
themselves a. 70 what policy should
he advocated and what plans fsl
lowed in fhe effort % work out III.
pr,ehismr which now present them
selves In 80 far a. the Lac a. con.
c"fHeu, all ! ask ~ them i a u5n.
inFness u comply fully With ifs suirlt
ahd readiness 60 move along the
lines indicated rs those Who are
charged stth administering e. eur
policy 10 built upon experience. and
our primary purpose f. a. insure the
future against the mistakes aud de.
iinquencics ~ the past
There has been much wild talk as
O. the extent u the nNercarltaliaation
of eur railroads The census reports
on the commercial value % the rail.
roads uf the country. together with
the reports made 90 the iuformfate
commerce commission bv the railroads
on their cast ~ construction. tend 20
ahon that az whole tho railroad
properly 81 tho country a. worth az
much a. the securities representing
n. and that en- tho consensus ~ opfn.
ion ~ investors the total value on
stock ana bonds f. greater than their
total face value. notwithstanding tho
water that has been injected In
particular places The huge value IN
terminals the immense expenditures
IN recent years IN double tracking
improving grades. roadbsdH and
structures. have brought The total IN
NrHfmentE 90 q point where the enfD.