The times dispatch. [volume] (Richmond, Va.) 1903-1914, 1908-07-26
@7VV1[T1 T.T11eS as LOO DIS a u u UsSs.
4 emf Country Cannot Prosper, !.
Says NI. z. Ingalls,
WOULD DISTRIBUTE BURDEN
Has Plan to Let Capital and
Labor Boil, Share iii Sacrifices
Necessary to Railroad Life.

HOT SPRINGS. VA. july a5.--",rl1is
country willanever be prosperous with
the railroads as poor as they are to-
day. The railroads arc the great spend
ers of the United states. They pltr-
chase great quantities of material and
expend gigantic sums for their OWN
maintenance. Unless they are finnn-
cially successful the, country at large
soon feels The effects OF their fall
sure." iaTt 3D. & 81
NJ e. ingalls,. chairman Or the Bis
-Four, thus summed fsup the railroad
situation. Then he went on TO sus-
tgest a remedy. which 5he believes
should have been applied months ago
and must yet be adopted to save the
country from situation which would
work to It's discredit.
& Had 1T not been for the opposition
of President Roosevelt this question.
which Is Il most serious one for the
railroads. would have been taken up
and settlement reached last Jan
uary.'. lie said Fl
Through interference and threats OF
people who did not un derstand The serious
ness of the trouble or viewed II IN u gwronE
light It has been carried over until now.
II is n question which cannot be lodged.
the election is over. railroads must reduce
expenses and take time to recour from
the condition in which they find them
selves"
Distribute the Loss.
Mr.. ingalls, does not favor flat rednc-
ton OF wages alone He offers a solution
or the matter through an equalization OF
theyloss which has been sustained to be
distributed between capital, labor and the
public. 83}
II would not favor flat reduction Of
wages. he said tonight. which would be
sure to make trouble and throw the c ,,,,-
f-,. tt,f<, fanI ns,JI fInt1 w ~
Farm Neither would the people stand az
this time for an arbitrary raise OF freigh I
rates on all classes q merchandise. l.
. cents a ton on the rate for coal when
1t gets to the consumer Is often % cents.
Thcre has been reduction in dividends not
81 large as might well have been made. but
Il step in the right direction toward rem :
edying the situation in which railroads have
been placed hnanclallS
THE LOGS which must be adjusted before
tho country come back to It's normal
pro sperity should be distributed among all
classes OF people so far as may be. First
paid TO Stockholders. would tell them
that tho income paid is not warranted by
the financial condition Of the roads, which
cannot borrow money ana are heavily
Handicapped In keeping their tracks and
equipment in proper state OF repair.
When this had been done would turn to
consultation and saying to them that. hav-
Eing made tho reduction In dividends. part
of the load had boon laid rnon capital. and
that they should bear their share of the
burden. perhaps not radical reduction of
a stated percentage. but an adjustment of
the loss where some are probably paid too
much in proportion and others not enough.
This might we'll be supplemented by the
reduction OF the working force as far as
could be done with safety. This step has
been taken In some cases already. Harin g
done this i would say to the shippers: You
must take your share OF the burden also.
and on certain classes OF merchandise l
would Increase the freight rates. With
each bearing his share OF the burden
would go forward until prosperity comes
ngain and the old schedules and dividends
Gould he -