Forest City press. (Forest City, Potter County, D.T. [S.D.]) 1883-19??, 1908-02-13


(: The Interstate Commerce commits
sion should be provided with the
means to make a physical valuation :
OF any road as to which 1t deems this :
aAuaeaon Necessary.
In some form the federal government
should exercise supervision over the
Ioaas; In no other way can justice be
lone between the private owners of those
charges. When ' once an inflated capitaI
has become d ssd hpo va,a as. IT., tsAe existe sss
ter it is then often absolutely necessary
TO take account of the Thousands of IN
nncsnt stockholders who have purchased
suit OF such Initiation is therefore to i'm
pose upon the public an unnecessary but
eSeriasting tax. while the innocent, pup.
only arfew spectators are benefited. Such
Wrongs when once accomplished can with
difliculty be undone: but they can be pre-
When combinations OF interstate railways
must obtain government sanction; when
IT. Is sa no 10 tonger possible for an Interstate
the manner approved by the federal gov
eminent: when that government make
bond issue go into the Improvement of
the property and not the enrichment Of
some individual or syndicate; when.
ance in the %regulative action Of the gov
ernment the physical value OF one Of
these properties is determined and made
railroad securities that element of un-
certainty which lends to them their spec
uiative quality and which has contributed
much to the financial stress Of h recent
past.
I think that the federal government
must also assume a certain measure of
railways in the handling Of interstate
traffic. The commission now has author
ity to establish through routes and joint
rates. In order to make this provision
effective and In order to promote In times
or necessity the proper movement OF traf-
nc nc ! think t must also have authority to
shall be interchanged between different
interstate railways. It is also probable
itty, in particular Instances. 70 determine
the schedule upon which ~perishable COM
modities shall be moved.
law. I repeat the Recommendations made
In my message at the opening Of the
present congress-. as well as In my mes
tempt in this law to provide II sweeping
terms against all combinations Of what
eyer character: Il technically in restraint
either futile or miscellaneous. and some
times both. The present law makes some
Se asefS1 to the Illegal ea.n although 5n they t%sy may may
hand, as to some huge combinations which
are both noxious and illegal, even IL the
action undertaken against them under the
law by the government Is successful. the
result may be to- work but a minimum
benefit to the public. Even though the
co IN sIna be broken up and a small
real good aimed at can not be obtained.
for such real good can come only by a
thorough tho snf and IN continuing supervision over
parts. 50 as to prevent stock watering.
improper forms OF competition. and. In
short Snort, wrong doing generally: The law
mar act which prohibits all combinations
Of the character above described, whether
t e pc or unreasonable; but
eral scheme to provide for this effective
and thorough going supervision by the
OF the big interstate business concerns.
Campaign Against Privileges.
superficially 1t may seem that the laws.
the passage OF which l herein again adj
yocate-for l nave repeatedly advocated
reality they are connected. Each and
every one of these laws. II enacted. would
represent part Of the campaign against
the class of great property holders
realize thai property has its duties no
less than its rights; When the courts
2OsA ~ ~ SAAO II Us l1xOy SuOulO.
the rights of the employer. and to prop
erty the rights of property. they should
no less emphatically make 1t evident that
the employer the duties which should
necessariy accompany these rights; and
hitherto our laws have failed in precisely
this. point of enforcing the performance
of duty by the man Of property toward
the man who works for him. by the man
OF great wealth. especially IL he uses that
wealth in corporate form. toward the In
weston. the wageworker and the general
public. The permanent failure Of the man
OF property to fulfill his obligations would
the privileges which he is entitled to enjoy
only If he recognizes the obligations ac-
~companying them: Those who assume or
share the responsibility for this failure are
which they believe they champion.
! do not know whether 1t is possible.
put ~ possible. It Is certainly desirable,
that in connection with measures to re-
strain stock watering and 0vercapitaliza-
ton there should be measures taken to
prevent at least the grosser forms OF gam
as making large sales Of what men do
not possess and. "cornertng'' the market.
Legitimate purchases Of commodities and
have no connection whatever with pur-
chaseo Of stocks or other securities or
commodities on q margin for speculative
difference between gambling It CARDS or
In lotteries or on the race track and gam
bling In the stock market. One method
Is Just as peraicious to the body polite
a. the other In kind. and In degree the
evil worked 70 far greater. But Il Ia a
far more difficult subject With which to
deal. The great bulk Of the business
transacted on the exchanges u not only
legitimate. but II necessary to the work
ing OF our modern industrial system, and
extreme carr would have to be taken
not to interfere with this business n doing
away with the bucket shop type OF oper-
alton. It would seem tha the federal
government could at least act by for
bidding the uoe Of the mails. telaRronh