The Ocala evening star., 1908-04-13

portion question and said it over
shadowed all other questions, as it
was the instrument of supply and de-
mand and the transporter Of products
from the field to the factory and from
the factory to the family. That 90
per cent Of all this was interstate;
that il was not difficult to conceive
Ci the congestion that existed a year
or two ago along all lines of railroad
throughout the country when We were
at the top notch Of prosperity and de-
mand Outran the facility to deliver;
when the average mileage Of a freight
car was only twentythree miles a
day. How those delays caused US to
complain and growl. when it was real
ly not the fault Of the transportation
mediums but our own lack Of system
in assisting this greatest of needs to
our own people. While he admitted
that the interstate commerce commits
sion had done good, yet the conditions
surrounding il and the transportation
companies did not move fast enough.
Time passed and events transpired
before new orders and regulations
could effect beneficial results. Brow
ards proposition along these lines
was this, every railroad make daily
reports to the interstate commerce
commission of their receipts, filed with
reports for a year every item OF ex
pense in the maintainance of the ply
sical condition of the roadbed and
rolling stock. with salaries, etc. At
the end of the year strike a. balance
sheet. If the receipts justified a re-
ductiOn in rates, make it, if not, aid
the road to earn legitimate profit for
money really invested. No one should
be unreasonable about this vital ques-
ton. Z Transportation is an absolute
necessity and justice and equity should
govern laws for it's regulation and bet
terment. No unjust hardships should
be put upon the railroads. If this was
done there would be no trouble to get
money to build roads into sections
where they were needed and properly
equip them. By the method he pro-
posed facts would regulate the equity
Of rates and not as now working in
the dark to put UP imaginary methods
Of regulation. That all railroads
should submit to the Interstate COM
mission the issuance of bonds and
what they proposed to do with the
proceeds. These should be for the
betterment of the road and it's service
and as such a legitimate investment.
He instanced the effect of the panic
on Great Northern railroad stocks. At
the time of the panic they were sold
at $500 a share. Now you could buy
them for $140 a share. This explains
hny Gil of
get control of great properties and use
them for personal gain. Now if the
system suggested by him were adopt
ed, every capitalists money would be
safe in this kind of property and he
receive legitimate interest on his in
vestment, but it would stop specula-
ton in such stocks. The people would
know the inside facts. All this would
be for the public good and such pro-
cedure would also stop popular
clamor and not arouse wrong impress
siOns and unjust reflections. 1t GER
tainly would be for the public good.
Speaking of our finances he said he
could see how if the bonds the gov
ernment issued were issued as money,
non-interest bearing, it would at all
times help the situation. for there
would be plenty to go round and a
money stringency would be unknown.
After the governments pledge to the
redemption of it's paper and the gov
ernment resources and wealth being
the relation Of this money it would al
ways be at par.
The truth in human nature is alike
in all Of us. Those who preach and
those who practice is aptIy illustrated
by the Georgia cotton grower and the
New York buyer. Said the latter 70
the former, why don't you people
take your cotton to Liverpool or Man
chester and get the coin and relieve
the money stringency? You can do
it, Replied the former, "Well, we
think our cotton is worth more than
| the price it would bring But" said
the cotton grower to the buyer, "why
don't you people, the bankers, meet
the emergency and turn loose =, the
money in your vaults? If all agreed
| to it you, could easily do it," And so
| it goes. It's always the other fellow
in a tight, whereby honest cooperation
the people, labor and capital, by unit
ing on just and equitable ground,
| could combat these terrible depress-
| ions and stop the commercial stagna-
| ton that follows.
The governor speaking of his dis
position to fight aroused considerable
applause, but to correct a wrong i'm
preston he said he didn't refer to his
| $50 pounds of averdupois, but his dis
| position to enter the arena and by
brain and logic attack these great