New-York tribune., 1908-02-12
RAILROADS AND LAW.
SENATOR KNOI SPE4kS.
ASSERTION of National authority and
Benefits Resulting from 1t.


and Congressman J. Adam Bede. Of Minnesota
were the guests of honor. Other speakers were
senator J - Burrows. Of Michigan. and former
State Senator Charles c. Snons. Of Detroit
Congressman Bede delivered humorous talk on
--fiappiness' and Mr.. Smons made an earnest
plea fos the adoption of the new state constltu-
tion which has just been formulated by con-
stituriona convention sitting at Lansing
senator Knox was introduced as the first speaker
in order that might leave early on a special
train for Pittsburg.
After reviewing the history of railroad ieslsia-
ton and court decisions that subject, Mr. Knox
said:
II would be difficult to overstate the enormous
value this legislation the public 1t did more
q confirm the party of Abraham Lincoln in the
body of substantive law enacted since his death
it was highly commenced by PRESIDENT RooseNtit ti
in his message 10 the 5sth Congress ana IN ms ms
public Speeches during the year following i1S pas pas
party made in the Congress campaign of 1892 Its
efficiency has stood the test OF time. ITS consul,
powerful interests represented by the most brill
liant advocates. and finally 1t was populapiy .i IN
ana Justice in which il conceived and enacted
in csmpaisn IN n which il was advanced the
partys chief claim TO popular confidence E-tA
Although the OF the achievements of the bith
Congress great in securing for the people
rights boldly denied Yet the fun measure f 6 O1
of that session and the remedial leg1siau9n
that preceded il disclosed that they dealt effectively
with only one phase OF the popular @ oeinau. ,i. os
ly the right 10 equality in service and eqnail'y oA
There Yet remained two important matters TO be
rates as soulo give practical effect 10 the pro-
visions of the law requiring them 10 be reason
relative TO the employees engaged therein as would
secure 10 them more reasonable GondlIiGhs l +t %.
dangers incident 10 TRANSPORTATION. These features
were covered oy me rar9aa 9,,t rae Nv ,I,,er Of
hours railroad employees can be consecutZely en-
mentioned act has recently been declared by the
Supreme Court TO be unconstitutional as II was
f,,-ss hon -orOXtStNn5
re-enacted upon valid and constitutional lines
THE ADMINISTRATIONS RECORD.
The record of achievement in. the public interest
since 1887 has been very great. and the results &C
corn1lished during this administration form by far
the most important part very complete. II nor
.sta blished Reasona bieness and equality in rail
a rates s and @ Tesf are nder rigid
mental supervision and the safety OF employees ana
ig % pooS 0 found deficient and dis
credited body Of law under which all sorts OF com
vitaly affecting and undermining our national well
1 sn raeaI lne connaet hodT of construct
I've. systematic and effective legislation remedying
defects SUPPLYING omissions and covering new f
terstate intercourse and its nstrnme1failtieT; ~ hos
been wrought ost by those responsloie t9r +p II on
eere fo do IN no injustice It has been neither
sporadic Spectacular The work has been
proper relation TO each other part 1t has pro
ceeded structure should. dealt win as uIlt' m
tween AS the work progressed motives and meas
those who could not or would not understand them
InserpuloGs men upon @I1 nane; Stem and mon
the other hand. men equally unscrupulous have
endeavored to break down the credit and efnclency
Of railroads. arrogating leadership In an econo-
mic development the scientific principles ana ptac-
stood
Jrfriendly criticism has. portrayed these steps
as bearing fruit only in disturbance of business
To this the facts furnish complete refutatloni
hort
the less steady assertion of the leglsrstlve
and executive branches that the authority shall
be used To correct evils arising from lack of regu-
lation are not sporadic but constant nor have the
measures framed matured and enacted by Con-
ress inflicted injury given just cause of COM
Hats and DELAYS caused by judicial construction
or legislative correction of details found defective
Rre}dq1ed RIq j. ] it TO current nm halted by dams
and bars may seem interrupted and obstructed in
SIS how. But the stream invariably flows on, and
IT never flows backward.
No more can the progress accomplished be turned
backward, The principles established are Perma-
nent- The policy of legislation the sllbordination
of corporate operations to it. the law Of i'm
thority for Integrity and inparialty in the conduct
Of the great transportation services of the nation
legislation Fostulatng only the ever essential fac
Tor OF e f m fs bor u IF fsIation FOR ade6afe
protection against the return Of the evils which have
evoked the reforms. without invoking acts of a
vindictive and destructive nature
A BENEFIT TO BUSINESS
Nor is that the measures which have
reached the matured form Of national legislation
include attack. enmfty or injury 10 sound business
interests. esther corporate private. Extreme
propositions may have been made, but they have
not largely prevailed in the completed enactments
by Congress on the contrary. these laws. rightly
seen sounder, stronger and widely
difused prosperity for the real corporate interests
namely. the owners of the railroad shares and
securities.
High railroad authority has declared the neces-
sity Of spending FIVE and half billions during the
ties TO meet the growing demands of the country
coupled with a grave doubt whether the securities
for rhnEa asor5rT h. aI II
,'th @ i % s. tif n;thi ss, ~ Is
IS of the utmost Importance that the five half
billions OF securities shall purchase the full five
he subject wholesale though surreptitious
subtractions. Surely investors will buy bonds
fuaI increase Of the value of the property more
readily than bonds which only enhance the secur-
tty 60 20 or even SO per cent Of the increase in
liabilities. Surely stockholders will find more
sstisfacii9n in their propertx II It is not bur
cent Of bogus Indebtedness. Surely the great body
traffic is not called upon to pay fixed charges on
that element of pure imitation.
II is much :he interest of the security
holders that favoritism in and the fiat quail
CIV IN capitalization shall be prevented It is TO
n-ent taiiross revenues cannot attain fbeir hrosd
est and most stable dimensions when dwarfted and
f trsasror,ation facilities needed bv roTir con-
rneroe be secured unless it offers to the invest
rnent OF actual capital an adequate and reasonably
assured return. Legislation conceived and exc
cIted in the Interchangeable resolution 10 maintain
5ggstice AND honesty for and AGAINST ali classes
foundation for the widest and most permanent ma
tional prosperity
LAWS FURNISH FULL REMEDY.
This / maintain 20 be the spirit and character of
the laws enacted by Congress this subject Ad-
nIinistered with answering fidelity to the under
lying purpose, they furnish the full remedy for the
evils We must not forget that the efficacy Of all
iaW lies IN the integrity and persistence of its
enforcement A diversion Of public opinion into
trsattention oblivion may easily be reflected in
negligent partial enforcement. Against that the
only ,DeTceDttbie possibility of reaction