The daily sentinel., 1910-06-13
tBy Tavenner. Staff Washington cor
respondent of The Sentinel

By TaNenner, stair washington cor |
respondent of The Sentinel
Washington, June 13.-lndications
are that congress will pass, over the
protest of Democrats and Progress
ives. a railroad regulation bill that
will not provide for a physical valua-
tion of railroads.
The millionaire colony OF the SEN
ate, some of the members of which
own stock in railroads, fought des-
perately to kill every physical valua-
tion amendment proposed.
a physical valus ton would expose
to the country the extent to which
railroad stocks have been watered,
and would, therefore, tend to prevent
oTer-eapitaliZation in the future and
pave the way for reasonable freight
and passenger rates This is why the
railroads fear it.
The interstate commerce commits
sion, partisan republican in makeup,
has recommended physical valuation
year after year. The commission, in
its last annual report. somewhat hope
lessly, as if realizing the extent to
which railroads dominate congress.
says: The commission has, in pre-
NlOuS tApltbS'u Ah' oBAhiSA
| that il would be wise for congress to
make provision for a physical valua-
! tion Of railroad properties. and de-
sires to reaffirm in this report its
confidence in the wisdom OF such q
measure"
Physical valuation was recome
mendsd by Roosevelt time and again.
This, by the way. is at least one
Roosevelt policy that Mr.. Taft has de-
serted -bloodedly. Taft has rails
ed neither voice nor pen on behalf of
physical valuation, and 1t is under
stood that the idea is antagonistic to
! his pro-railorad temperament.
Yet the supreme court, in the Ne
braska rate case, held that "the basis
of all calculation as to the reason
ableness of rates must be the fair
value of the property being used for
| the convenience of the public"
Presidents Bill is Not Progressive.
| AS progressive legislation. rail-
road regulation bill without a provis-
ion for physical valuation. is a farce.
| The national democratic platform
of 1908 declared in vigorous lang
uage for efficient supervision and
| ldtt Vi ioiii oodc anu "
| that end strongly recommended the
| taking of physical valuation by the
| interstate commerce commission.
But when 1t is considered that
Hartman contributed S260,000 to
the republican campaign fund on be-
half of the railroads, that probably
numerous other railroad magnates
| advanced equally large sums, and
that the very bill congress is about
to place upon the statute books was
originally drawn in New York and
submitted to the railroad interests
before being introduced in congress,
1t is not so strange that the physical
valuation amendments received their
death stabs even after passed by a
| goodly majority in the house of rep
resentatives.
oh American people, you must be
more vigilant than YOU are If you
would continue to deserve the title
of a patriotic people.
Where Mr.. Taft Gets Suggestions.
Republican senators who most fire.
quently visit the White House are;
Aldrich of Rhode Island, acknowl'
edged congressional representative oi
Wall street and the tariff trusts.
1 Lodge of Massachusetts,, who de
| clares the ultimate consumer to be
myth. s .,.
Depew of New York. chairman OF
the board of directors of the New
York Central and Hudson River rail
road, and a director of 62 Other
transportation and franchise corpora
! ~ =.