Albuquerque morning journal. [volume] (Albuquerque, N.M.) 1903-1926, 1908-09-14

would front the bitter anger of the
wealthiest and most powerful corpora.
tons Broad tho his sympathies are
there is in him not the slightest tinge
of weakness No consideration of
personal interest, any more than of
fear for his personal safety, could
make him swerve a hairs breadth
from the course which he regards as
right and in the interest of the whole
people.
have naturally a peculiar interest
in the success of Mr.. Taft, and in
seeing him backed by a majority in
both houses of congress which will
heartily support his policies. For the
last ten years, while l have been gov
ernor of New York and president
have been thrown into close intimacy
with him, and he and l have on ev.
cry essential point stood in heartiest
agreement shoulder to shoulder. We
have the same views as to what is
demanded by the national interest
and honor both within our own bor-
ders, and as regards the relations OF
this nation with other nations. There
is no fight for decency and fair deal
ing which / have waged in which l
have not had his heartiest and most
effective sympathy and support, and
the policies for which ! stand are his
policies as much as mine.
1t is not possible in the space of
this letter to discuss all the many and
infinitely varied questions of moment
with which Mr.. Taft as president
would have to deal let him be judg
ed by what he has himself done, and
by what the administration, in which
he has played so conspicuous a part,
has done. But to illustrate just what
his attitude is, let me touch on two
matters now prominent in the public
mind.
Mr.. Taft can be trusted to exact
justice from the railroads for th-
very reason that he can be trusted to
do justice to the railroads. The rail-
roads are the chief instruments of in-
terstate commerce in the country and
they can neither be held to a proper
accountability on the one hand nor
given proper protection on the other,
save by the affirmative action of the
federal government. The law as laid
down by the federal courts clearly
shows that the states have not and
cannot devise laws adequate to meet
the problems caused by the great
growth of the railroads doing an in
terstate commerce business, for more
than four ffths of the business of the
railroads is interstate, and under the
constitution of the United States only
| the federal government can exercise
control thereover. 1t is absolutely nee
| essary that this control should be af-
! frmative and thoro-going. All inter-
state business carried on by the great
corporations should, In the interest of
| the whole people, be far more closely
supervised than at present by the ma
i tional government; but this is espec-
! tally true of the railroads, which can
| not exist at all save by the exercise
4 Of powers granted them on behalf OF
ttlle people. ana which, therefore,
should be held to a peculiar account
ability to the people. 1t is in the in
terest of the people that they should
| not be permitted to do injustice; and
it is no less to the interest of the
people that they should not suffer in
| justice. Their prime purpose Is to
| carry the commodities of the farm
ers and the business men; they could
not be built save for the money con-
| tributed to them by their sharehold-
ers they could not be run at all save
for the money paid out in wages to the
| IN
could not be run judiciously, or prof
tably to any one, were it not for the
employment by them of some master
ful guiding intelligence, whether OF
one man or of a group Of men. There
are therefore several sets of interests
to be considered. Each must receive
proper consideration, and when any
one of them selhshly demands exclu'
sive consideration the demand mus
be refused. Along certain lines all OF
these groups have the same interests
1t is to the interest of shipper, farmer
wage worker, business man, homes
shareholder and honest manager
alike that there should be economy
honesty, intelligence and fair treat
ment of all. TO put an effective stoI
to stock watering would be a beneh
to everybody except the swindlers who
profit by stock watering; it woulC
benefit the honest shareholder because
honest investments would not b'
brought into competition with mere
paper; it would benefit the wage-work
er because when the money earneC
does not have to go to paying interes
on watered capital. more of 1t Is LEFT
out of which to pay wages; it woul'
benefit the shipper because when onl!
honest shareholders have to be pai'
interest, rates need not be improperl!
raised; il would benefit the public be
cause there would be ample none!
with which to give sufficient service
Similarly. the prevention Of favorit
ism as among shippers does no dam
age 10 any one who Is honest, ant
confers great good upon the smalle
business man and the farmer. whom
It relieves of oppression. Again sucl
supervision OF accounts and manage
ment as will prevent crookedness ant
oppression works good, directly or in
directly, to all honest people. There
fore everything that can be dom
along these lines should BE done; am
no mans legitimate interest woul'
thereby be hurt. But after this poin
has been reached great care must b.
I exercised not to work injustice to on
class i'm an effort to show favor Il
another class, and each class naturall
tends to remember only It's own needs
The stockholders must receive an am
pie return on their investments, or tn
railroads cannot be built and success
fully malntained and the rates 4
ahlnnera and the ,vnpna To mnlnNos