Daily Arizona silver belt., 1909-03-20
MILLION 4 DAY
 LOST IN WAGES
 ID RAILROAD MEN
7" P. SHoNTs, FINANCIAL WIZARD, BAYS HOSTILE LEaIsI.A-
 TON IS CAUSE
IS ALARMED 1T COMMISSIONS
"GIvE THEM A SQUARE DEAL AND LET THEM MAKE THEIR
 OWN RATES"

NEW YORK, March l9.-" Fifteen months aso there were l,675,0o0 rail road employees in active service, and they received nearly $l,llo,o00,00o in wages during the year. Fully one quarter of these men are now idle, at a loss of wages of approximately mil lion dollars day"
 Theodore P. Shonts, soldierly in ''set up" quick of movement and terse and accurate of speech, thus opened his discussion of the question put to him;
 "What is the matter with tEe coun- tryan
 In addition to the great responsibili- ty entailed by the presidency of the Peterborough Metropolitan Railroad company, of New York, MT. Shonts is president of the Chicago & Alton and the Glover Leaf railroads.
 "A little over year ago the rail roads were spending $l,250,00o,o00 for supplies; now they are spending not more than $500,0O0,000. This means a falling off in railroad expenditures of nearly $2,50o,ooO day. And it is impossible accurately to state tho num- Der of men in forests, mines and factor ies who have been thrown out of enl- ployment by the shrinkago in the de- mand for railroad equipment and sup plies, but it is safe to say that they arc numbered by the tens of thou sands.'
 The Shonts logic seems to lead inev- itably to the conclusion that the indus trial depression of the past fifteen months is due more largely to legisla tion, state and national, affecting the railroads, than to any other cause.
 Fears Rule by Commission
 Said he: Have we as much of that alert, resourceful and self confident in dividualism, which has been Jour great est national asset, today as formerly 2 Do the coffers of the 2,000,ee Ameri. can investors in 4 riean railroad se- curities open as res dily as in the past to provide the funds necessary to keep our railroad development abreast of our traffic requirementsa
 "But what is the rason for all this ! of our railroad managers-that has chilled their laudable ambitions, that has frightened away our financial sup port, that has shadowed our horizon on every side, that has made us cease to act and only to waltz
 1.-The answer is clear: It is the fear of the government operation of the rail roads through commissions, who have no financial responsibility which has produced these results. Because of hos tile Legislation, state and national, and the consequent fear on the part of the owners of railroad securities that they will not be permitted to manage their own properties, the railroad develop ment of the country, which should now be making great strides, while there is plenty of labor to prepare for the re- turn of prosperity, which feel assured will soon follow the inauguration of President Taft, is at a complete stand still.
 VI think every intelligent business man understands that there can bo no return of prosperity that will stay with us until the railroads are fairly treated.
 Development7 It Is Dead
 '.The New York public service law has placed the commission virtually in the shoes of directors of tho railroad corporations throughout the state, and has given to them complete control of the corporate affairs.
 "What is the result? Transportation development in this country is not par is dead.
 "Until legitimate regulation is sub stituted for the physical operation which is now authorized that can be no railroad progress in New York or in any other state which has analogous laws.
 " Rather than see this anomalous con dition become general and permanent, ], as railroad man, would prefer gov ernment ownership and operations of the railroads, dangerous as that would be to the maintenance of our liberties. because operation without ownership not only destroys the initiative by de- stroyirg the hope of reward 10 the in dividaal officers and dries up the foun- taips of money supply, but also because of the fact that the commissions which ,pprafo fho railroal. bayn rc R,a,,;o, responsibility and are not held account able for results'