The Chanute times. [volume] (Chanute, Kan.) 1897-1913, 1908-07-31

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better, and that the people will judge
him by the votes he cast more than
by what the republican national plat
form may or may not contain.
Is Trying to Confuse the Public.
Long, while loudly proclaiming that
he is making his race upon his re-
cord, is in fact trying to appropriate
to himself the popularity which the
president has acquired by advocating
the things that Long has inva-.
iably opposed. Long persistently re-
fuses to discuss the merits Of single
question that his votes show that he
stands for, with the exception OF his
vote upon the long and short haul
clause" Long refuses to advocate
the policies which Roosevelt stands
for because, doubtless, it would be Of
fensive to Aldrich and his reactionary
senatorial colleagues. The Aldrich
crowd cares nothing about the atmos-
pheric condition that Long may create
In Kansas by shouting the praises of
Roosevelt, If he will only vote with
| them in Washington, and this Long
willingly does The senator proposes
now to create such confusion in the
minds of the Kansas people by the
noise and buster which he and his
calvacade of federal officeholiers are
making in shouting for Roosevelt and
Taft as to divert the minds Of the peo.
pie from his real record and the votes
he has cast. Instead of discussing the
merits of the propositions for which
he voted, he spends greater part OF
his time in his speeches in narrating
compelled Mr.. White to cringingly
bow before him and take back and
apologize for everything that he had
said; while, as a matter of fact, Mr..
White only admitted that he was
wrong in three of the thirty-five
counts of his indictment. The case
was aptly expressed by Mr.. Dawson,
the assistant attorney general of this
state:
Ibid Long really vindicate himself"
MT. DAWSON was dSheu.
"Well, 1t Is just this way" replied
Dawson. when we begin proceed
ings against a jointist on thirty-five
counts and he is able to explain away
four or five counts, We still think we
have made pretty good case against
him. Long did explain to my salts
faction at least three or four Of the
charges made against him by White,
but he was certainly stuck on tho
other twenty odd counts. To my mind
he gave explanations that lid not ex'
plain in these cases."
Evils Of Over capitalization.
Now let us see wherein the senator
is in harmony with Roosevelt and
Taft. They are in favor of limiting
the amount of stocks and bonds that
may be issued upon public service cor
porations doing an interstate business
to the cost or value of the property.
In this am in hearty accord.
When Thomas F. Ryan, the railroad
magnate of New York, said recently
in his testimony before New York
grand jury that IS per cent Of the rail
road stock of the United States rep
resented no investment but was wholly
water, he stated what every well
informed man knew to be true. Rail
roads are built from the money re-
ceived from the sale of the first mort
gage bonds and the roads in Kansas
cost originally from to Is thousand
dollars per mile.
After a road was built, If 1t shows
earning power and demonstrates that
It can pay interest upon a larger
bonded Indebtedness than 1t has, the
men who control the line, greedy for
wealth and desiring money, probably
to invest in other railroads or coal
mines, or some subsidiary enterprise
or to amass vast personal fortunes
proceed to increase the roads bonded
indebtedness.
The Missouri Pacific.
This system Of bonding and re.
bonding railroads has gone on In this
country until today there are roads
bonded for three times what they cost
Take the Missouri Pacific railroad,
that is, the original line constructed
under that name. which includes be.
tween LOO AMI 1900 miles of track
This does not include the subsidiary
lines. 1 cite the Missouri Pacific be-
cause 1t seems to be over capitalized
worse than any other road in Kansas
and therefore more forcibly illus
trates the evils of the system that we
are protesting against. The Missouri
Pacific railroad is bonded, according
to the statement l have here from the
interstate commerce commission, for
$74,939 per mile. In addition it has
an equipment obligation of $3.50 a
mile, making almost $4,000 per mile
Of interest bearing indebtedness. In
addition to this it has a capital stock
of S6S,59S a mile, making a total in
debtedness OF over $4,000 a mile.
According to the report of the state
board of railroad commissioners fol-
the wear 1904 the entire cost of the