Lewiston evening teller., 1908-01-31

notably the wages paid railroad en-
ployes have greatly increased. These
and other causes may in any case
cause an advance, and so If the ad-
vance should be permitted and ap-
proved. But there may be, and
doubtless are, cases where this is
not true and our laws should be so
framed that the government as the
representative of the whole people
can protect the individual against
unlawful exaction for the use OF
these public highways The inter-
state commerce commission should
be provided with the means to make
a physical valuation of any road as
to which 1t deems the valuation nec-
cessary. In some form the federal
government should exercise super
vision over the financial operations
of our interstate railroads. In no
other way can justice be done be-
tween the private owners of those
/ properties and the public which
pays their charges
When once an inflated capitaliza-
tion has gone upon the market and
has become fixed in value, it's exis-
tance must be recognized As a
, practical matter it is thought often
necessary to take account of the
thousands of innocent stockholders
who have purchased their stock in
good faith. The usual result of
such imitation Is therefore to impose
upon the public an unnecessary but
everlasting tax, while the innocent
purchasers of the stock are also
I harmed and only a few spectators
are benefited. Such wrongs once
accomplished can with difficulty be
uDdone; but thev can be prevented
with safety and Justice When com
hinatfons of interstate railroads
, must obtain government sanction:
when it is no longer possible for an
interstate railway to issue stock or
bonds save in the manner approved
hv the federal government; when
that government makes sure that
the proceeds of every stock and bond
issue go into the Improvement OF the
nroDertv and not the enrichment of
some individual or syndicate: when,
when ever it becomes material for
guidance in the resulative action of
the government, the physical value
, of nne of these properties is deter
nn'ned and made known-there will
he eliminated from railroads that
element Of uncertainty which lends
IN than thar sneou1otive uualitv
ana which has contributed nuch tn
the financial stress of the recent
, mast,
, / think that the federal govern
, ment must also assume a certain
measure of control over the physical
, operations of railroads in the hand
ling of interstate traffic. The COM
, mission now has authority to estab-
, lish through routes and jjoint rates.
In order to make this provision ef-
, fective and in order to promote In
I times of necessity the proper move
, ment Of traffic, ! think it must also
) have authority to determine the con-
, dition upon which cars shall be in
: terchanged between different inter-
, state railroads. 1t is also probable
thof thn fceta 1h
| thoritv in particular instances to de-
termine the schedule upon which
r perishable commodities shall be
y moved.
: In this connection I desire to re-
: peat my recommendation that rail-
4 roads be permitted to form traffic as
4 sociations for the purpose of confer
3 ring about and agreeing upon rates,
4 regulations and practices affecting
I interstate business in which the
: members of the association are mu-
tually concerned. This does not
> mean that they should be given the
right to pool their earnings. The
8 -" ASAuAiO5 that IdleS Snail De SO
n adjusted as not to discriminate be-
a tween individual localities, or diff
. ferent species of traffic. Ordinarily
4 rates by all competing lines must be
n the same. AS applied to practical
conditions the railroad operations
) of this country can not be conducted
. according to law without what is
! equivalent to confidence and agree
a ment. The articles under which
= such associations operate should be
i approved by the commission; all
! their operations should be open to
public inspection; and the rates and
returns upon which they agree
n should be subject to disapproval by