The Montgomery advertiser., 1908-05-03

the womb of the future they must be safely delivered by the great surgeons of the law--the courts of last resort.
 admit, that in the policy of the law, continual change is cxpedient--that It's mutation is essential to the growth and development of State. and that its force and efficiency lies just as much in change as it does in inmutabiltty. I concede that as the tide of human affairs waters new shores. and new interests are touched and developed new laws spring Into life and old laws become obsolete ana iifeiess; I grant that the expanding current of the law, upon which floats the barks of indi- vidual and property rights. is just AS mutable in it's coursings as the cur rent of river which flows and broad ems in Its compulsive course to the receiving sea.
 But basic principles of the law are fixed and immutable, and 1t is difficult to conceive how management can be assumed without investment. or mis- management can be divorced from all risk. or the physical, financial and com structural direction of property can be taken over with immunity from any. liability. loss. expenses. or cost.
 The final determination of these questions by the courts must establish as one and inseparabie investment and risk rights and conse- quent obligation--nnismana and liability--operation and ioss-or 1t will write a bill of divorcement between them for better or for worse"
 If the courts should finally deter mine that the government can merely resolve to take over in detail the man agement of these properties without investment or risk-direct their con tractural engagements without obiiga- tion. and assume their physical and financial operation without responsibii- ity or the restraint of possible liability and loss. but that capital must still carry the investment and risk without the right of management and opera tion, it Is experimental to assert that capital will continue to patronize these arteries and agencies of the countrys commerce, and the theorists must fore cast the consequences of this radical departure upon generations yet to come.
 But if the courts should determine and declare that investment and risk mismanagement and liability, contract and consequent obligation, and opera ton and loss are one and tnseparable, and remit the management and opera tion of these properties to the inyes- tors under just and reasonable control and regulation, within limitations fixed by the law, judging the future by the past, their growth and development throughout the length and breadth or this great country will continue its marvellous march.
 These vital questions. however should be settled without acrimony or bitterness, but in judicial temper. after sober, deliberative and wise considera- tion--for even the errors of radfcalism should be tolerated where reason is left free to combat 1t.
 Let us not morbidly assume that the z @s NClr To uk1 loose the moorings of the law from the safe shores of principle and precedent to drift upon the uncertain shoals and quicksaad of experiment., but rather will be admonishsd by the reflection that:
 aiTwilf be recorded for 2 precedent And many an error, py the same s~- win rush into the State"
 Let us rather believe that the iaw will remain steadfast and true to us traditions and that these arteries or commerce which are as essential to the life and growth of the industrial faoric as the arteries of the human body are vital to its health and continued exist ence, will not be sterilized or stransled' but will go forward on their mission of developing our resources. widening our channels of commerce and enrrch- ing our common countrywide most constructive force known to human human civilization.
 Under the old law. which encouraged and fostered individual and cosporAte initiative skill and management, ana before the recent enactfnents tahlhs over and assuming the management or railway properties, on every side pro kress and prosperity abounded--elec- frIc and mining roads were being con structed--teIepho ones were being plant ed which were daily .nahing neighpors. of our cities and farms and factories. -telegraph facilities wsre being mul-' ttnIied-street railways were seeking to give additional value to suburpan property--cotton millA wore being reared alongside the cotton nelds-- banks were being established ana in- terest gradually lowered--steam raii- ways were being located and doupie tracked to widen the avenues oL portation and increase the value or. contiguous farm lands-addttional fur naces were being fired to quicken the activities of labor and 10 add to the value of commerce--and all were con- tributing to the value of the farm and the products of the farmer-the sturdy has of our industrial hApric.
 Let us hope that these enactments, in assuminE and taking over the nhvsical management and operation or in ese properties will noC chill and per manently paralyze their spirit and energy.
 Free from frenzy and radicalism the future is bright and promising.
 Tho South is yet rich In undeVel- onad wealth beyond the dream of ava rice. and is yet distressingly short Of the industrial and transportation agen- cies for it's present and future dcveI- opment. e.. ,.. nresent and future growth--its street railways have not yet sufhciently en- comnassed it's cities-its vast water nowers have not yet been adequately barnAssed. It's mines have not been sufiolently developed. it's granite ana marble beds have only been partially arnosed. and no other product or us wealth under the soil 'has been sum- cientlv explored. for more wealth can "a, he dug fro nlthe bowels or me sarth than will ever spring from the surface of the sot.
 Ifs vast forests have not yet been reached. it's factories need enlargement ana multiplication. and its general de- velopment Is far from the full fruition of it's vast possibilities.
 Let us therefore indulge the nope that the wise principles and preeepts of the law, transmitted to us from the fathers. will emerge safely from the nerv furnace of radicalism Into which if would be cast, true to its traditions and fixed in the protection of indiYid- ual and property rights. and that these arteries of our commerce will be pre- served. restored and rchabilnated, and will go forward In leaps and bounds on their mission of enriching the South th at it's mines. with ores yet buried and undiscovered in the bosom of the