New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1908-10-18

order that there might be machinery for the
enforcement of the law governing carriers III
interstate commerce. securing equality OF rates
and freedom from unjust determinations
PRAISE FOR RATE BILL.
It was recognized by all very wholesome
policy, but soon ii became apparent tndi tne
powers of that commission were not adequate
and hence there arose the demand for an eX-
tension OF its powers. 1t was by reason OF the
forceful presentation of this demand that the
so-called railroad rate bill was passed, one OF
the great achievements of the administration Oh
President Roosevelt. BY that bill. additional
power was given to the Interstate Commerce
Commission with regard to the hxlng OF rates ett
But even after that was passed there were fur-
ther demands for the extension OF the1 powers
of this commission
President Roosevelt has presented these mat
tiers in repeated messages to Congress NO"
we have in the light of this history the Demo-
cratic national party meeting at Denver Nhae
do they do? Do they denounce government pS
commission? Do they denounce the Interstate
Commerce Commission? Do they say that II
should be deprived OF its powers? Do they say
that II is an improper attempt TO supervise IN
terstate commerce? Not at all; On tne con
trary, in the national platform tney oeuanu al
increase of the powers of the Interstate Com
merce Commission; they have several planks
relating to the subject ! Will READ one OF wv
One is follows:
we demand such enlargement of the powers
of the Interstate Commerce Commission as may
be necessary TO compel railroads TO perform
their duties as common carriers and prevent DIS
elimination and extoruon
Another plank reads as follows:
We pledge the Democratic party TO the en-
actment of a law to regulate the rates and ser
vices Of telegraph and telephone companies en-
gagged in the transmission of messages between
the states under the jurisdiction of the Inter
state Commerce Commission
DEMOCRATS IN CONFLICT.
Now comes the Democratic state party.
sembIed in convention in Rochester They praise
the national candidate of the Democratic party
They praise the platform adopted at Denver with
its panks calling for more government by com
mission and extended powers of the Interstate
Commerce Commission Then they turn around
to the state and denounce government by COM
Grover Cleveland had signed as Governor of
the state half a dozen bills creating commits
sions David B. Hill. the Nestor Of Democratic
wisdom had signed half a dozen bills creating
commissions. He said repeatedly that We ought
TO have a state gas commission. In 1891 he rec
commended the creation of a tribunal with these
powers. He says that we should have measure
creating a state commission which shall in
cIude supervisory powers the gas, tele-
graph, electric lighting and telephone companies,
similar to the Jurisdiction conferred upon the
Board of Railroad Commissioners over the rail-
roads of the state. He adds: 1.-The necessity Tor
such tribunal has been repeatedly demon
strated, but its establishment has thus far been
defeated. It's creation, however. may be re-
garded as only a question of time. Ana Whac
David B. Hill regarded only a question or
time in 1891 came to pass in 1901 Ana no"
they denounce government by commission.
What forces dictated the Democratic state plat
form?
PUBLIC SERVICE FOES.
Who was 1t. that desired to get rid of the
Public Service Commission that thew were aim
ing at under this denunciation? Look at the
situation in the city Of New York. Here lies
PROSTATE in the hands of receivers IN the IN
solvency court our traction companies pros
trated by the accumulation Of securities ana
obligations Issued without regard to the Vatoes
Of the properties concerned or their reasonable
earning capacity. Here IS one OF the most pront-
able opportunities for public service that the
world knows
Here is no lack Of patronage and no expert
ment or risk with regard to custom. but by
reason of financial manipulation; by reason Of
the issuance Of securities and the making OF
leases and agreements without just regard 10
the values of the properties concerned. they
have been overburdened and now appear dis
organized.
public and a recurrence Of these scandals? We
have now the time OF upbuilding. We have now
the time OF necessary reorganization. We have
now the time when new agreements must De
What is it that stands between the people
and the improper issue of these securities and
manipuations. for the benefit, of insiders at the
expense Of the public? Those who dictated that
platform at Rochester knew full well what was
IN the way.
BOOKS NOW HONEST.
Formerly there was no supervision the
bookkeeping of these corporations Notes might
be sold at 20 and the discount Of 80 per cent
passed TO capital account in effect and treated |
as an asset. Now have provisions for the |
supervision Of the bookkeeping of public service |
corporations that books may be honestly kept !
Formerly leases could be made and franchises |
could be transferred without any supervision on !
behalf of the public. Now no lease can be made |
and no franchise can be transferred without !
the approval of the Public Service Commission |
The Twenty third Street Railroad Company for |
example, leased to the Metropolitan Street |
Railroad Company on rental on the basis of |
IS per cent per annurn and understand the re- /
ceivers are still paying the rental We cannot /
help the past, bur do not want 10 rely in the |
future post-mortem examinations
Formerly. consolidation securities could not |
be issued simply upon the value Of the properties
involved but they could capitalize the merger !