The San Francisco call., 1910-11-29
HARD TINES IS
A THREAT To-
BOOST RATES
Railroads and Big Interests of
Wall Street Hold Weapon
Over Country
Interstate Commerce Commits
sion and Taft Would Be
Blamed for Conditions
Prediction of a Financial De-
preston Is Made in Face
of Prosperity
Especial Dispatch 10 The Call

NAI Washington is convinced that
the big interests are engaged
IN q concerted movement to force the
interstate commerce commission to
grant the increase in freight rates
amounting 10 $4,000. 600 annually
sought by the roads. They also are
seeking TO induce President Taft TO
abandon his attempt to regulate or
esnized wealth.
This movement is utilizing sinister
weapons TO insure favorable action.
The principals are forecasting a finan-
ciaI depression and a possible panic
They are endeavoring to show there
must be q halt in governmental inter
ference" in railroad and corporation
affairs or else suffering viii be expe-
rienced by the great mass of the peo-
pie.
Those involved in the scheme evil
IDENTIFY are seeking TO create a public
opinion which viii place upon the ad-
ministration all responsibility for
hard times should they occur as a
result or continued activity of the com
merce commission in regulating rail
roads and the administration in prose
cutting and regulating corporations.
Interests Lined Up
As an evidence of the extent to which
the movement has gone. attention is
called TO the following interests which
have advocated the increased freight
rates and predicted a financial depres-
sion in case of an adverse decision:
The railroads.
The biz business interests in Wall
street.
The insurance companies, which have
large sums Invested In railroad securf-
ties.
Railroad employees, organized by the
railroads themselves.
3aiI4ay supply companies.
The prediction Of a financial depres-
sion IS made in the face of good though
quiet business conditions and abundant
crops.
Secretary Of the Treasury Macveagh
said today:
so far as tf1e financial situation Of
the country is concerned, it is abso-
luteIy sound. have absolutely no ap-
prehension Of any depression or panic"
Secretary of Agriculture Wilson made
the following statement:
There is no better exponent Of the
prosperity Of our country than that we
have abundant crops and employment
for labor along all lines. insuring q
demand for these crops. More atten-
tion is being given to products from
the farm in all parts of our country
and better education Tor. the farmer is
making his days work on the farm
worth more, with resultant increasing
ylesd from the acre, giving promise of
provision for the increasing population.
The prosperity from the farm stand
point is indicated by the desire of
every trader in the wrold to get into
cur markets and. blythe desire OF labor
from ali countries to come into our
employment"
Roads Making Money
The railroads have every reason to
be satisfied With their financial con-
dition. According to reports which
they made TO the interstate commerce
commission their gross earnings for
the year ending on June 80 last were
the largest IN the history of the United
states, even larger than they were in
the year 1907, when they made a
banner showing. Their net earnings
for the last fiscal year were greater
than ever before.
When the presidents OF the roads
who testified recently before the COM
mission weer asked to descrive the
present railroad conditions they said
thev were Satisfactory. but they feared