The Marietta journal. [volume] (Marietta, Ga.) 1866-1909, 1908-01-23
BROUGHT on THE PANIC.
To the Editors of the Marietta Journal
and all Georgia Papers of Interest
in Georgia.


ers IL write because immediate action
is necessary. The fight on railroads
brought on the panic by causing the
holders of our railroad securities in
Europe to unload them on this country
until it is impossible to longer sell large
amounts. This has virtually stopped
railroad building and improvements,
and thrown thousands of men out of
employment. II you will take the trou-
BILE to investigate, you will find thou
sands who are not railroad men out OF
employment on account of the panic.
The banks will soon resume payments.
This will only help US little. The
most important thing to help the panic
is action by you, The longer you delay
the longer the panic will last. You
must take up each railroad separately,
and investigate them thoroughly, and
see that they are allowed to make pro-
fits on their investment and the present
value of their property, and make good
interest on the improvements. For in
stance, take the Atlanta and West
Point Railroad. 1t cost but little, yet
it is very valuable. The owners are
entitled to interest on the cost and in
terest on its present value, just tbs
same as aholder Of city property, which
costs but little, is getting rents on the
increased value
Now, please take up the Southern
Railroad, which needs immediate ac-
ton, which, if properly treated, would
do much to restore confidence and
street railroad building in Georgia.
Call President Findley, and find out
from him what he needs said and done
by you, to send his preferred stock from
40 (present price, back to 80, where it
was, and what he needs to have to start
double tracks from Washington, d. c.,
to Atlanta, which has been suspended
The time has now come when the ma
jority of the people of Georgia don't
care what the railroads charge All
they want is to get rid of the panic.
Think of the millions of dollars lost
by owners of railroads by depreciations.
Help these owners, and Europe will
send back the gold and buy back the
railroad securities, and the panic will
be gone. 1t should be your pleasure to
call H. M. Atkinson, and tell him the
people of Georgia are thankful to him
and his Boston and Northern friends
for building the Atlanta, birmingham
and Atlantic Railroad, and that you
will see that they make good interest
on lheir investment; all he has to do
is to let you know when a thing hurts,
and you hope he and other Northern
friends will build more railroads. II
there is any body we should be grateful
to 10 is the men and women who build
US railroads.
Please call the people who started
over year ago to build an electric
railroad from Atlanta to Macon, and on
from Macon to Albany, and one from
Lithonia to West Point, and tell them
all the fights on railroads are over, and
tell them that you will see that they
make money If they will go on and
build their roads for the good of the old
State, and we will forgive all who went
wild on Down on railroads." Now, all
pull together, and pay no attention to
the "one- gallus" men who fight street
railroad companies If you do, we will
soon rot have any more street and
suburban roads built.
Remember, the people want improve
ments and work instead Of hunger and
stagnation.
My plan takes no money it only asks
for acts and doings TO restore the value
of railroad properties, and millions and
riches will be increased. | believe you
have sense enough to do this.
| Now, l call on all business men and
wage earners to insist on your allowing
the railroads to make interest on their
investments, thereby keeping them end
! the railroads out of the receivers
hands, and returning to US prosperity
If this is not done, and done quickly,
the panic will remain on us. Do this,
and you will be blessed by the whole
people.
In times like these, we must ignore
the Macon platform and campaign
promises made when times were good
and work for Georgia and her people
The depreciation in Southern Railroad
stock, amounting to sixty millions of
dollars alone, shows what brought on
the troubles. A great many people have
the mistaken idea that your business is
to fight railroads. 1t isn't what the
Commissioners have done that has
caused such depreciation in values and
lost their credit so they cannot borrow
money and renew their notes, but it Is
the fear that much more will he done
A want of definite policy is needed 10
make things worse or better II YOU
will call meeting of all the Southern
Railroad Commissioners and adopt my
plan, you will see railroad securities
advance, and the panic going in sixty
days. Your own action will greatly
help. Ny platform is being adopted
generally by the people, and the next
governor Of Georgia will be elected on
it-also those under him. But we can
not afford to wait.
say the fight on railroads by Gov
eminent and States, both North and
South, brought on the panic, by the
depreciation in railroad securities of
billions, and all business men will say
it is here yet. might say high finances
brought it on, then manufacture an
other word to explain what that was.
No one but a heather could rejoice