Evening star. [volume] (Washington, D.C.) 1854-1972, 1908-12-08

plete supervision and control over the
issue Of securities as well as over the
raising and lowering of rates. AS regards
rates, at least, this power should be sum-
| mary The power to investigate the finan-
clal operations and accounts of the rail-
| ways has been one of the most valuable
features in recent legislation.
Power to make combinations and traffic
agreements should be explicitly conferred
upon the railroads. the permission of the
commission being first gained and the
combination or agreement being published
in all it's details. In the interest of the
public the representatives of the pubic
should have complete power to see that
the railroads do their duty by the public,
and. as matter of course, this power
should also be exercised so as to see that
no injustice is done to the railroads
The shareholders, the employees and the
shippers all have interests that must be
guarded. 1t is to the interest of all of
| them that no swindling stock speculation
should be allowed, and that there should
be no improper issuance of securities.
The guiding intelligences necessary for
the successful building and successful
management of railroads should receive
ample remuneration, but man should
be allowed to make money in connection
with railroads out of fraudulent over
capitalization and kindred stock-gambIins
performances. There must be no de-
frauding of investors, oppression of the
farmers and business men who ship
freight or callous disregard of the rights
and needs of the employees.
In addition to this, the interests of the
shareholders. of the employees and of the
shippers should all he guarded as against
one another. To give any one of them I'M
due and improper consideration is to do
injustice to the others.
Rates must be made a low as is cOmpat-
ible with giving proper returns to all the
employees OF the railroad. from the highest
to the lowest. and proper returns TO the
shareholders. but they must not for in
| stance be reduced in such fashion as to
pioyes or the abolition of the proper and
| legitimate profits of honest shareholders
I Telegraph and telephone companies ell
gagged in interstate business should be put
under the jurisdiction of the interstate
commerce commission.
Importance of Action.
! 1t is very earnestly to be wished that
our people, through their representatives,
should act in this matter. 1t is hard to
| say whether most damage to the country
at large would come from entire failure
on the part of the public to supervise and
control the actions of the great corpora
tons or from the exercise of the necessary
| governmental power in q way which
would do injustice and wrong to the cor
! poratiOns.
Both the preachers of an unrestricted
| individualism and the preachers of an
| oppression which would deny to able
men of business the just reward of their
| initiative and business sagacity are adj
vocating policies that would be fraught
with the gravest harm to the whole
country. To permit every lawless CAPT
/ talist, every law-defying corporation, TO
! take any action. matter how iniqui-
-, touS. in the effort to secure an improper
| profit and to build up privilege, would be
| ru.nouS to the republic and would mark
/ the abandonment OF the effort to secure
in the industrial world the spirit of demo
cratic fair dealing.
| On the other hand, to attack these
wrongs in that spirit of demagogy which
can see wrong only when committed By
| the man OF wealth. and is dumb and
blind In the presence Of wrong COM
| mitted against men OF property by
men of no property. is exactly evil
as corruptly 20 defend the wrongdoing
of men of wealth. The war We wage
! against wrongdoirg wherever it is found
ard we must stand heartily for the
| rights OF every decent man, whether he
| be a man of great wealth or man who
earns his livelihood as u wageworker OF
tiller of the soil.
Enemies of Property.
| 1t is TO the interest OF all of us tina,
there should be premium put upon in
dividual initiative and individual ca
pacity and an ample reward for the grea,
| directing intelligences alone competent to
manage the great business operations OF
| today.
| 1t Is we'll to keep i'm mind that exactly
as the anarchist is the worst enemy OF