The Topeka state journal. [volume] (Topeka, Kansas) 1892-1980, 1909-11-08

.l!!!., " M
10 Casts a Few Political ,frebrands
self.
| amusing themselves revising the Re-
| publican roster remind US of that ia
| nous convention held by the three
| tailors of London. in which resolu-
| lions of grave import were preceded
with a preamble which began. We,
| the people of England The con-
laughed. The triumvirate will dis
solve. and the people will smile.
Hitherto. although there have been
some irreclaimable and hopeless OBJ
Republicans the party as a whole
has been progressive. There are some
signs now that number of our dis
| tinguished leaders think that We have
| gone far enough, and that We should
settle down, for a period. at least,
! into the quiet and peace of inaction.
| 1 hazard the prediction that if we do.
the camp we pitch will be our burial
ground.
! Senator Cummins then took up the
currency question. He alluded to the
| fact that Senator Aldrich was in the
city discussing this subject. He said
! he was unfamiliar with the views or
plans of Senator Aldrich regarding the
matter, but earnestly hoped to be able
to give Senator Aldrich's plan, the
support of his vote in the senate.
Systems to Be Avoided.
ANY plan which subjects the vol
time of our currency to the power and
| Judgment of a few men who may be-
| come selflShly interested in either ex-
| banding it or reducing it, is bad, and
Lii carried into execution would euslave
| the financial world as completely as
! ala ,,-O
| now held in bondage. Such a scheme
| whether called a central bank or any
other name, is intolerable. Likewise,
we must avoid a financial institution
! with the power to control the money
| Of the country, the possession or man
| agement of which would be an issue
| between political parties. Any system
which takes away from commercial
| community the power to measurably
take care of itself during periods of
stress and storm will be reactionary
rather than progressive.
There arc some very good men who
think that we have completed all that
ought to be done in the way of regula-
| ton of railways and other common
carriers. These are the conservatives
Of whom I have spoken. AS [ view the
subject, we have scarcely made a fair
| beginning. There is one fundamental
! phase of the subject which has not
len touched, and one of the most
/ fragrant wrongs which is yet to be
rIghted. The fundamental mission re-
lates to the capitalization of railway
! corporations; and the other concerns
fairness in railway rates as between
{ communities and localities.
ITO me- it seems absurd to attempt
to regulate the rates of common car
r:ers until it is determined upon what
apital the railway companies can law
fully demand a reward It is at this
point that congress has been unjust to
the railways. 1t is plain that one of
the first things we ought to do as a
government is to fix basis upon which
carriers may earn interest and dlvl-
dends There are some things which,
having been done, can not be undone.
! and, therefore, we may be compelled
C accept the present capitalization;
hut we ought to Immediately provide
i that hereafter there shall be no capt.
| talization that does not represent in
dependent investment; and by that, I
mean that neither surplus earnings nor
| increase in the value of property
| should be capitalized. When these
provisions are made and rates are UNI
| ( err consideration, there can be an in
| telligent opinion with respect to the
| adequacy.
In Hopeless Confusion.
Altogether. the most important
phase of the regulation of railway rates
| is in hopeless confusion g. It is every
where admitted that the railways in
I OrQer 10 serve WHAT they DetleNG TO DC
| their own interests have through q false
| and unjust relation of rates built UP
some communities ana destroyed others
| This practice mas continued so long and
so effectually that Encouragement OF
rates in accordance with the manifest
requirements of common Justice has be-
come rot only the most imperative duty
of the government, but its most diff
cult duty as well. All the rates over
which congress has jurisdiction and that
can be committed to the interstate
commerce commission for supervision
should be reviewed as parts of one
great system. = z es
There ought first to be devised a
uniform plan of making ND railway tar
! ifs and upon the commission this duty
should be imposed. Then. within per-
/ iod that would enable the work to be
done the carriers should be required
pursuing a uniform method, to file with
/ the commission all their interstate rates
4 Then within a further period, the COM
mission should consider these rates not
! only absolutely, but comparatively. II
changes We're thought advisable hear
ings would take place. so that the COM
mission might be fully informed Wher
that work is done. the rates should be
! promulgated with the5-approvaI of the
commission and thereafter there should
be no change I'M tEemgWithout the con-
sent or the commission. Until we are
willing to do something of this kind the
railways will be harassed by never
ending complaints. and the people will
continue to suffer the Injustice which
NOV prevails.
? But the railway problem is not the