New-York tribune., 1908-04-04
PLEA FOR RAILROADS
President Mather on Regulation
WoOdrozC Wilson's Vie7Cs.

TS.
dent Princeton University, and Robert Mather,
president Of the Rock Island Railroad Company,
were the principal speakers at the sixth annual
dinner of the Traffic Club, Of Pittsburg. at the
Hotel Schenley tonight Among the other guests
the three members of Pennsylvania s recently
appointed Railroad Commission. Judge Nathan
Ewing, John H. Boyd and Charles \. Mann Con-
gressman James Francis Burke was also guest
President Mather spoke, in part, as follows:
fear that public only dimg rsan1es sn5 so tar the
ther the reforms in transportation metho9s tna'
recent changes In our laws and IN tae1r
Of rebates and Of free Transportation ana ie
which expressed the subseEvience of the carriers
to the large shippers mark the emancipation OF OF
none of them would return Most Of them are
policy of reasonable regulation that vii ainIa.n
their business on the higher plane OF moranty 10
think that spirit OF cooperation should be recip-
roGated by the regulating poTer b the claim, Of the
railroads that they shall not be so regulated as
bonds and reasonable dividends on their stocks
And they insist tilat not only they and thelr Sc
at large interested in their continuing ability
earn those charges and dividends. For, in the
absence of such earnings their securities become
discredited, they in consequence unable TO
which the growing commerce Of the country de-
nands. and thus they fail 70 support not ;,2 9nIg
Of others of our citizens who depend upon the
our railways keep in operation. The dark days
through which we passing lend telling weight
The fnsistence of the railroads upon this posi-
9on MOVES no criticism Of The poheles Gr ss
should their interest and charges. and con-
capitalized. His policies however, do not concern
themselves. prt t1narily with the conservation OF
ever, that the first enforced steps taken by the
for them by President Roosevelt have tended to
increase rather than to diminish their revenues
But the craftsmanship that rises no higher In
its treatment Of this great question than to see
good in no regulation save that which takes
gence itself assumes want of intelligence n
that the people could be led 70 see the essential
identity of the prosperity of the country with
Of the one upon the other, if only voice could
such a programme Should oppose the reguIa-
ton of railroad through the specious de-
The argument in favor Of this Suggestion is
unreasonably nigh Railroad rates in this coun,
try are not unreasonably high AS shippers and
less fhan one-beif tbat ~ CzerrnsrI bsreiy, more
than one-third that of France, and only Slightly
We plead the baby act as a nation when we
cry out against the alleged overcapta;izatton of
our railroad corporations The railroads were
was possible TO sell the securities in the worlds
markets and through their sale 10 obtain obtain the
have been built and the country would not have
Nor should any governmental officer or body
ne given power to prescribe for the railroads
or the conditions under which they shall inter
change cars with their connections.
It is as citizen, rather than a railroad man,
kind of railway regulation Every such reguia-
railroad manager over the property in his charge
and lessons in the same degree his accountability
10 us owners If the government is 10 undertake,
roads roJlerIPaa+ Vf PafI tne eperat0n OF our r4l al
act and don't think that 1t is good thing for
railroads.
Dr. Wilson's topic was The Government and
Business" He spoke. in part. as follows:
It Is now no longer question whether modern
tions should BE- regulated bT law The G1dsIio1
Is only as to the best method OF regiation' the
method which VIII best accomplish the objects we
the normal course of manufacture and of CONNER
cal Interchange 1t is absolutely necessary if the
business of the country is be brought into
a serious embarrassment which hardly be
volved in the adjustment Of law TO new business
eondltIons should be as much as possible divorced
and businessIike manner. Combinations and
rangements of many kinds constantly netting
earned fortunes. This is unquestionabIy the evil of
only evil in which wealth, rather the opportunity
which wealth brings, can truly be said to be preda
after gaining control of large areas OF custom.
of prices and the creation of other focal conditions
which made the existence o1 any similar concern
wa vs by means Of snecal rafes and sraCiaI dis
wished crush Such practices have brought upon
all large combinations the suspicion Of nonopoIst!c
purpose. and have made it very difficult for to
distinguish between monopolies and legitimate com
binatiCns
We have gone so far in the direction Of putting
regulation in the hands of governmental officials
that some recent proposals look toward putting II
absolutely within the choice of executive sCftcers
which corporations shall be regulated and which
shall not and the only means of enforcing the
authority Of officials and commissions which We
have yet used consists in the imposing OF heavy
fines upon the corporations themselves, CT the
actual withdrawal Of their corporate powers To
most thoughtful persons such methods Of regula-
tion seem both inequitable and futile
We certainly shall not be upon safe ground
again until enforce individual RESPONSE
bility for definite transactions, and base the
fnrcanlenr iudicial dararTninar b