The times dispatch. [volume] (Richmond, Va.) 1903-1914, 1907-02-07
THURSDAY, FEBRUARY Z, 1907.
There is in man a higher than love
of happiness; ho can do without hap
plness, and Instead thereof find bless
edness.--C ar!yle.
The Government and the Rail
roads.

roads.
Mr. ]. Il. McIntire, Of PHILADELPHIA, has
written a communication to the Public
Ledger OF that city, in witch he says
that he has been trying to form an idea as
ia what President Roosevelt means BY de-
claring that The intends 10 have the
water squeezed out Of the corpora tons
in order to learn how to fix the rates
for transportation and for other services
performed by corporations" The COM
munication deserves consideration, II for
no better reason than that tbs CORE
spondent is bold enough to sign his Lame
to it. 1t Is so popular IN these days 10
attack railroads, and especially to de-
nounce watered stocks, that few men are
willing to stem the current of prevailing
sentiment. But there is something to be
said on both sides of this question, and
Mr.. McIntire presents his side Of the case
with force and logic. He calls to mind
one of the Western Territorie. of forty
years ago, in which thousands Of acres
of land We're offered for settlement under
the homestead laws, but it was so
isolated that it was hard to induce set
tiers 10 go In and occupy. Finally, how
ever, a number Of entcrprising men built
railroad into this Territory at a VEN
would get back the money they put into the
enterprise. But as soon as the road was
built settlers nocked in, and at once the
price OF lands began to advance. Build
ings were rapidly put UP, and Mr.. Nc
lntirc says that lands which were then
worth nothing arc now selling at S1oC
an acre. This increase in value was
due directly to the building of the road
but on the other hand, the road became
profitable investment, because through
its agency the country was settled w
and a good traffic created The lands
and the railroad, argues Mr.. Mclntirc
were interdependent. One could no
grow up and increase in value withou
the others doing likewise. Yet. While !
is conceded that the purchasers of lot
have the right to enjoy the enhances
value of their property. the men VIII
built the road are entitled to nothing
more. than small percentage on thci
cash investmG1tt.
That is AN exaggerated case, but tn
principle applies to all railroads. 1t
well known that several of the railroad
in the South. which are now payin
good dividends on their stocks, were #
long time operated without any prot
whatsoever to the owners But by
liberal md cnterprising policy thes
roads aided In developing the iron /,
dnstry. the cotton industry, the lumb,
industry, the trucking industry and 9TH
Industries along their lines, and in
doing built up traffic for themselve
They are now veap!ng the reward
their enterprise Yet there arc tho
who contend that. whilo the owners
lands and factories are entitled to Il
fullest benefits OF tho improved stu
ton. the railroads must not be allow
TO share equtably in tho prosper!
which they have helped to create.
1t Is a false principle and a mistnk
policy. and, as The Times Dispatch
marked IN previous aracle, II is
policy which, II applied to all branch
OF industry, would destroy all progre
It Is policy of handicap, and 1t is u
democratic and un-Amorican. Some ra
road managers have abused their pli
leges. They deserve to be ccnsur
Others have violated the law. They {
serve punishment But many hon,
men aud women havo !nnocently invest
IN railroad securities. with the und
standing that railroads were 10 be
lowed 10 enjoy the Same privilege of
crease thpt other enterprises enjoy
The government has no moral right
this late day to destroy their prope
by harsh and unreasonable exactions.
The T!mes-Dspatch has no sympa,
with tho principle Or policy OF Cove
ment ownership and operation Of n
roads, but it Is fatrer proposition ii
rulnous regulation