Evening star., 1909-05-09


there is Unemployment OF idle and short
time labor. Indications are that before
the end OF the year there will be work
for everybody at living wages. Already
the wisdom is admitted of laying OF men
and shortening their time of work instead
After having gone through lean period
of a year or two there will be a higher
degree of efficiency in the labor market
for good while ahead. That goes with
out saying. and the millions of men who
had allowed themselves to get careless
and sloppy will try harder than before to
earn their money.
One very cheerful feature of the present
situation and Of the outlook is that enter
prise will have no trouble getting f1nan-
cial backing. AS the floating indebted
ness of corporations is being funded large
sums Will be released and made available
1or use in construction and in the deyel-
opment OF resources in every direction
Railroads have thus far not obtained
great sums Of cash for treasury use, but
they have been enabled to clear the decks
and put themselves in shape for new
tnings when the time arrives for branch
ing out-and everybody agrees that that
time is rapidly approaching.
Mighty Consumers.
The S5,OOO.0OO people in this country are
mighty consumers. They have boundless
money to buy things with, and with the
atmosphere cleared and the wreckase re-
moved from around about them, they
loosen up" And, besides, there is one
great underlying factor which must never
be lost sight of and never forgotten in
connection with the business evolution
That factor is the infusion of more than
81 .OOO, 900 a day in new gold money into
the worlds circulation, rate which will
increase before 1t decreases. and which
Is an overwhelming and irresistible force
for the imitation of values and the mark
ing up OF prices.
Further headway seems to have been
made within the last week or two in the
campaign for . consolidation of the New
York traction systems. This does not
appear on the surface, and to all in
tents and purposes the Ryan and Nc
Adoo A.hS interests f are strongly lighting each
and accommodate the public in the mat
ter OF additional transportation. 1t would
not be true to say that the opposing
Ryan and Morgan parties have yet ac-
preaching nearer all the time. and even
tualiy an agreement will no doubt be
reached. The open battle. or appearance
or battle, may last until the next cleo
tlon for mayor and county an. city of
fcers. Should this prove to be the
case, tho 100000 people Of New York
and the sympathizing audience of So
OOOooO people composing the rest Of the
population OF the United States will
De treated to a fine spectacle. in which
IL VIII be made to look as though the
iegions OF evil and good are engaged in
q life and death struggle, involving the
salvation or ruin of the metropolis of
the western hemisphere
The Traction Monopoly.
In the wind-up it will very probably
be found that the lion and the lamb have
laid down together and that the commu-
nifty VIII once more be firmly fixed in
the grasp OF traction monopoly more
powerful than any which has preceded
IT, stronger In capital and stronger in the
fact that II Wilt have control of prac-
tcally every street and avenue along
which tunnels and lines can be CON.
Structed.
The more the Supreme Court decis-
ION on the commodity clause case is
studied, the wiser 1t seems to get. The
enect on investors and speculation seems
70 be most soothing. While reco.njzin9
the right OF Congress to compel the di
vorcement OF transportation and produce
times. war,d ,Gdnd 1ra, way .s to save the
fusion and trouble which would have en-
sued II the law had been applied to tne
existing anthracite and bituminous COAL
situation. Such enforcement would have
virtually compelled lie liau dalton ~ =
dozen or more railroads. in or..er " th.1 q
the rights of the security holders might
be defended. That would have brought
about chaos. and would have involved
probably 5000. .00O,O 600 in bonds and
stocks.
A way is now shown by which all this
trouble can be avoided. without loss ar
confiscati0n in any quarter RailroaGs
are given warning to take steps in order
that Congress- may not have to further
legisiate to prevent further discrimina.
tion as between railroads and indensnd-
ent shippers. That this warning is subtlv
conveyed between the lines Of the s,,.
prAlne Court decision Is being more
clearly understood every day. That de-
as great victory for the railroads lts
deep meaning is beginning to be anpre-
ciated at Its true value.
w. G. NICHOLAS.