The Holly chieftain., 1910-03-25
RADICAL RAILROAD REGULATION AND ITS
EFFECT ON BUSINESS.

creased desire on the part OF investors
to put their money into railroad prop
critics. They have been given to un-
derstand that probably their borrow
ing capacity is to be limited within
narrow lines by the Government, SO
that even if they were willing to make
these expenditures, it would be diffi-
cult for them to obtain the necessary
financing.
In fact, looking at it from any point.
the owners of railroad property have
nothing to see that would encourage
them in spending any money until
they have more definite idea as to
what extent they are going to be con-
trolled and directed by the National
Government, and under such circum-
stances, all of the vast industrial en-.
terprises that are depending upon the
railroads, will find that at the time
that their present orders upon which
they are working, issued some six
months ago when it was not dreamed
of that the present adverse conditions
could possibly arise, will have been
completed, that we will again be in
practically the same position that we
were in during the early part of 1908.
In my judgment unless Congress re-
strains its interference with the earn
ing capacities of the railroads, there
will be a permanent setback in the
general business of the country, that 1t
may take years to overcome. =
Some Congressman think that the
railroad interests are the real force
that is behind the rapidly growing un-
rest of the business men regarding
legislation. This is absurd; we need
no spur to wake us up to our unfor-
tunate situation, which is by no means
confined to railroad supply institutions.
There are 100000 railroad en-
ployees. 1t takes 100000 men to sup
ply what the railroads need, and a
vast number of men are employed in
supplying the personal needs of the
above 100000 men. Every kind of
business is dependent in some meas
ure on railroad prosperity.
The producers of wool, cotton, to-
bacco, sugar and many other special
articles in this country, have SO in
terested themselves in their business
that they have forced the General
Government to put special protect.
i've tax on the things they produce,
which we and our employees. who do
not produce them, have to pay for,
and to many of which We do not OBJ
ject.
On the same principle, and for the
same reasons, when business men be.
come as active in looking after their
interests, and with the same rights,
we can induce the General Govern
ment to give us equal protection by
allowing the railroad companies, who
are the producers of our revenue, to
make sufficient profit to enable them
to buy full plenty of the goods they
need which we manufacture. This will
involve no special tax, will mean bet
ter railroad service, and more bust.
ness for everyone, particularly the
working man; and when it is consid-
cred that in reality 800 of all the
money received by the railroads and
ourselves goes directly to the working
people, we should have the solid en-.
dorsement and individual support Of
every working man in the country.
Cause.-The trouble with the whole
situation is that many of the men who
make the laws are not familiar with
the true inwardness of the relations
and dependence which the manufac.
turing and business interests have
upon the general railroad situation,
nor do they realize that in administer.
ing their so-called discipline to the
railroad companies that we are the "ul.
innate consumers" of that discipline.
Remedy:-It is Of the greatest i'm.
purtance that some decided action be
taken by the Government at as early a
date as possible, as there will be no i'm.
provement until this uncertainty has
been overcome.
January %, 1910.
T. A. GRIFFIN.
tisrmenO