The Richmond Virginian. (Richmond, Va.) 1910-1920, 1910-12-06


treasury may be brought against II
by the taxpayer. the administrative
officer, and the civil empioye, respec-
lively. A civil pension Is bound to
become an enormous. continuous, ana
. increasing tax on the public ex-
cheQuer; lit IL demoralizing to the
service since it makes difficult the
DISMISSAL OF Incompetent employees
after they have partly earned their
pension; and II is INSTANTANEOUS To
the main Doay OF eInpio!ss them
selves since II IL always taken INTO
account IN nxing salaries anu only the
few VINO survive anu remain Ia the
service untii pensAohaoie age receive
the value OF lnelr ueterred pay. FOR
this reason, after. a half century OF
experience unuer a most liberal pcn-
son system, the civil servants of Eng
ianu suceeeaeu, about IL year ago, IN
having the system so moulfien as TO
make IT. virtually u contriDutory pan
Win provision fer refund nj their
theoretical contributions.
Interstate. Commerce Commission.
There mas not oeea time. to test the
benefit ana utility of the amendments
to the interstate commerce law con-
tanned in the act approved June Is,
1910. The law as enacted did not
contain all the features which
recommended. II not specifically de-
nounce as unlawful the purchase by
one OF two parallel and Competing
roads of the stock OF the other. NOT
did II subject 20 the restraining In
fuenee of the interstate commerce
commission the power Of corporations
engaged in operating interstate rail-
ruaus to Issue new stock and bonds;
/ nor did 1t authorize the making of
temporary agreements between rail
/ ROADS. limited to thirty days, liking the
same rates for traffic between the
I same places.
] | do not press the consideration OF
any of these objects upon congress at
this session. The object of the hrst
provision is probably generally cover.
ed by the antitrust Law. The second
provision was in the act referred 10
the consideration of q commission TO
! be appointed by the executive and to
report upon the matter 10 congress-
i safety Appliances and Provisions.
] The protection of railroad employees
from personal injury is subject OF
/ tho highest Importance and demands
/ continuing attention. There have been
two measures pending In Congress,
one for the supervision of boilers and
the other for the enlargement OF dam
gerous clearances. Certainly some
measures ought to be adopted looking
to a prevention Of accidents from
these causes.
valuation Of Railroads.
! The Interstate Commerce Commits
sion has recommended appropriations
for the purpose OF enabling 1t to en-
/ ter upon h valuation OF all railroads.
| This has always been within the ju-
risdiction Of the commission. but the
requisite funds have been wanting
Statistics OF the value OF each rail-
road would be valuable for many pur-
poses. especially If re ultimately en-
act any limitations upon the power
OF the Interstate railroads to issue
stocks and bonds, as | hope We may.
+. / think. therefore, that In order to
permit correct understanding OF the
facts, it would be wise to make a
reasonable appropriation to enable the
Interstate Commerce Commission to
proceed with due dispatch to the val
uation of all railroads. I have no
doubt that railroad companies them
selves can and Will greatly facilitate
this valuation and make II much less
costly in time and money than has
been supposed.
Fraudulent Bills Of 1Aadine.
Forged and fraudulent bills of lad
ing purporting To be Issued against
s cotton. some months since, resulted
in losses OF several millions Of dol
lars to American and foreign bank
Ing and cotton interests. Foreign
bankers then notified American bank
ers that, after October 81, 1910. they
would not accept bills OF exchange
drawn against bills of lading for cot
ton issued by American railroad COM
panies. undess American bankers
would guarantee the integrity of the
bills of ladinR. The American bank
ers rightly maintained that they were
not justified in giving such guaran.
ties. and that. II they did SO. the Unit
ed States would be the only country
in the world whose bills were 80 dis
credited, and whose foreign trade was
carried on under such guarantees.
The foreign bankers extended the
time at which these guarantees were
demanded until December 81, 1910,
relying upon us for protection in the
meantime. as the money which they
furnish to move our cotton crop IS OF
great value to this country.
For the protection of our own peo-
PIE and the preservation or our credit
in foreign trade. | urge upon Congress
the immediate enactment OF Il law
i under which one VINO. in good faith,
advances money or credit upon a bin
of lading issued by common carrier
upon an interstate or foreign ship
rncnt can hold the carrier liable for
the value of the goods described IN
the bill at the valuation specified in
the bill, at last to the extent of the
advances made i'll reliance upon II.
4
l further recommend that a punish
ment of fine and Imprisonment be
imposed upon railroad agents and
shippers for fraud or misrepresenta-
ton in connection with the issue of
bills of lading issued upon interstate
and foreign shipments.
Except as above, | do not recon-
mend any amendment to the inter-
state commerce law as 1t stands.
do not now recommend any amend
ment to the antitrust Law. In other
words, it seems to me that the exist
ing legislation with reference to the
regulation OF corporations and the re-
straint OF their business has reached
a point where We can stop for a while
and witness the effect Of the vigorous
execution of the laws on the statute