The Greenville times. [volume] (Greenville, Miss.) 1868-1917, 1908-01-19
THE COUNTRY NEEDS
MORE RAILROADS.

MORE
A recent editorial in the Manufac- |
turers Record says:
The country needs more rail roads /
of the double tracking present, of |
more rolling stock, is in no wise chang
ed by present financial conditions
Even II there should be a slight let /
up in traffic, this would not change |
the fact that our transportation ia
cilities are wholly inadequate to the
volume of our trade and that the
county is growing rapidly while the
rail roads are not Late Senator
German of Maryland ten or fifteen
years ago very wisely said that THE
greatest problem before the Amer
lean people is that OF distribution"
Distribution of course means trans
portatiUn. Every day since then has
ator Germans Judgment. = Under such
conditions the cost of transportation
is of far less Importance than the
needed. We already have by far
the cheapest rail road freight rates in
the world Rates that are the mar
vel Of the people of foreign coun-
tries. What we need now is not low
rates, freight or passengers, but
vast increase OF facilities for handling
business. OF all the absurd move
ments of the last twelve months in
the rail road and political world moth
ing else quite equals the efforts to
force down rail road rates. 1t sal
most puerile i'll its short sightedness
1t has cost the coutry billions of dol
| lars without redeeming thing to
the credit side Money for rail road
expansion cannot possibly be had I'M
| der the present condition Infinitely
| better it would be for the whole coun-
try if the people would recognize that,
/ instead of reducing rates, the rail
| roads must be given full authority
| to make general advance in rates
/ Commensurate with the increased cost
| of doing business.
The rail road business Hn1tct be Civ
| Ell an opportunity to make profits
| large enough to tempt capital from
everywhere to seek investment in
| rail road securities.
Men are not going to put their
money into such enterprises subject
| to the dangers OF legislation-and
they would be foolish if they did
justify such risks. To attempt t.
limit the earnings to six per cent, OF
amount, is not only absurd but eco
nomically false, for any attempt tc
limit the earnings of legitimate bus
mess undertakings will inevitably re
act and cost the country more by fal
than the difference between a fixet
! income and the profits which nigh
be made, Their own preservation
would necessarily require of the raj
roads as favorable rates as could b;
given with safety for themselve anc
their future.
OF recent years tAe pubic seems t;
have come to the cof1Slusion that me-
with bullying bank aceoupts are wait
ing for an opportunity TO put mon
ey into rail road securities, though
!. | the control of the rail roads is tax
en- from them, and though other PEG
| pie who have no interest in then
are given authority to FIX the rate
at which they can do business. TIL,
idea is. .verya fallacious. The capita
. need for rail road expansion is no
going to seek railroad investment, Blu
rail road men must seek the capita
, diligently. Il must be presented j
such aw way as to indicate profit
large enough TO justify the risk. 0
, otherwise those who have the bulgin,
; bank accounts will keep their none
themselve or put it in securities owe
which they do have some control.
Il As q field Of Investment the RAJ
: road is. no longer an attractive propo
! sition and this too comes At tim
when never IN the history q the coun
try Do We SO much nesd money fo
rail road expansion.
II IS quite within bounds to sa
that daring the nsE1 kvs = six year