The Oakley herald. [volume] (Oakley, Idaho) 1908-1961, 1910-05-06
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 10 be limited within
narrow lines by the Government, SO
that even If they were willing to mako
these expenditures. 1T would be diff
cult for them to obtain the necessary
financing
In fact, looking at 1t from any point,
the owners of railroad property have
nothing to see that would encourage
them in spending any money until
they have a 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 1t 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 10
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 =
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 a 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 o.
: every working man in the country.
, Cause.-The trouble with the whole
4 situation is that many of the men wht
' make the laws are not familiar will
q the true inwardness of the relationi
t and dependence which the manufac
v turing and business interests hav'
4 upon the general railroad situation
o nor do they realize that In administer
b ing their so-called discipline to tn
n railroad companies that we are the "ul
8 innate consumers" of that discipline.
t Remedy:-It is of the greatest in
y portance that some decided action b
e taken by the Government at as early
v date as possible, as there will be no in
It provement until this uncertainty ha
e been overcome.
10 January 90, 1910.
n T. A. GRIFFIN.