The Barre daily times. (Barre, Vt.) 1897-1959, 1908-01-31

certain laws affecting wage earners;
there should also be such action on
laws better TO secure control over the
great business concerns engaged in
interstate commerce and especially
over the great common carriers. The
tnteFstate commerce commission should
be empowered to pass upon any rate
or practice on its own initiative. More
over, It should be provided that when
ever the commission has reason to be-
lieve that proposed advance in rate
ought not TO be made without inves-
tiration It should have authority to
issue nm order prohibiting the advance
pending examination by the commits
sion
would not be understood MS ex-
pressing an opinion that any or even
a majorit5 of these advances are i'm
proper. Many Of the rates in this
country have been abnormally low
The operating expenses of our rail
roads, notably the wages paid railroad
employees, have greatly increased
These and other causes may in any
given case justify an advance in rates.
aud, If so, the advance should be per
mitted and approved. But there may
be and doubtless are cases where this
Is not true, and our law should be SO
framed that the government, as the
representative Of the whole people, can
protect the individual against unlaw
full exaction for the use OF these pub
lie highways. The interstate commerce
commission should be provided with
the means ia make d physical vaiua-
ton Of any road as to which 1t deems
this valuation necessary. In some form
The federal government should exer.
else supervision over the financial OPP
erations Of our interstate railroads. In
no other way can justice be done be-
tween the private owners Of those
properties and the public which pay
their charges. When once an inflated
capitalization has gone upon the mar
ket and has become fixed in value its
existence must be recognized. AS a
practical matter 1t is then often abso-
lutely necessary to take account Of the
thousands of innocent stockholders
who have purchased their stock In good
faith. The usual result of such infia-
tion is therefore to impose upon the
public an unnecessary but everlasting
tax. while the innocent purchasers Of
the stock are also harmed and only a I
few spectators are benefited. Such !
wrongs when once accomplished can |
with difficulty be undone, but they can
be prevented with safety and with JUS |
tice. When combinations of Interstate
railways must obtain government sane
ton, when 1T IL no longer possible for /
an interstate railway 10 issue stock or I
bonds save in the manner approved by /
the federal government; when that gov. I
eminent makes sure that the proceeds
Of every stock and bond issue go into
the Improvement of the property and /
not the enrichment of some individual
or syndicate: when. whenever it be
comes material for guidance in the reg
nlatige action of the government, the
physical value Of one of these proper
ties Is determined and made known,
there VIII be eliminated from railroad
securities that element Of uncertainty
which lends to them their speculative
quality and which has contributed
much to the financial stress Of the re-
cent past
Greater Powers FOR Commission.
I think that the federal government
must also assume 4 certain measure Of
control over the physical operation of
In the handling Of interstate
.raffic The commission now has au-
.hofity to establish through routes ard
oint rates. III order 70 make this
provision effective and IN order 70
promote in times Of necessity the prop
II movement of traffic. / think it must
ilso have authority to determine the
conditions upon which cars shall be in
between different inter
tate railways. It is also probable that
he commission should have authority
n particular instances to determine
he schedule upon which perishable
shall he moved,
Ia this connection desire to repeat
nv recommendation that railways be
,ermitted to form traffic associations
or the purpose Of comforting about
md agreeing upon rates, regulations
nd practices affecting interstate bust
less III which the members Of the as
ociation are mutually interested. This
Ices not mean that they should be
1yen the right to pool their earnings
II sheir traffic. The Inv requires that
ates shall he SO adjusted rs not to
between individuals. 10
alities or different species Of traffic
ordinarily rates by al competing lines
must be the same. As applied to prac
ical conditions, the railway operations
( this country cannot be conducted
to law without what is
quivalent to conference and agree
lent. The articles under which such
ssociations operate should be approx
a by the commission. All their oper
iions should be open to public inspec
lon. and the rates. regulations and
upon which they agree
hould be subject to disapproYal BIZ
he commission
/ urge this last provision With the
anne earnestness that do the others
his country provides its railway ia. j
ilities by private capital Those facil.
les will not be adequate unless the {
apital employed is assured Of just /
and an adequate return In
king the charges Of our railroads l {
elieve that. considering the interests s
f tue public alone, it IS better to al 8