Atlanta semi-weekly journal. (Atlanta, Ga.) 1898-1920, 1910-08-02

was produced in large part by the reck-
less misconduct of high financiers. 1t
went through every state of the union,
Georgia and Texas suffering less from 1t
than any other states.
, WELCOMES FOREIGN CAPITAL.
1t has been charged Inat the progress
sive Democracy sought to keep foreign
capital from coming 10 Georgia. ms
was another political story. The man
who told ii knew IT was not true, but
good, honest men were in some instances
fooled by 1t.
NO ONE DESIRES MORE THAN
DO TO SEE FOREIGN CAPITAL
COME TO GEORGIA, that our great
undeveloped resources may be built up
| for the benefit of our people. l welcome
| its coming, but we want the capltal
which comes to Georgia to be so in
vested as to help and not hurt the state.
| If II absorbs more than 1t produces, II
would impoverish and not enrich the
| state 1t would burden and not help our
| people. We want 1t to come upon an
| equitable and fair basis.
RAILROAD LEGISLATION AND
| PANIC.
1t has been claimed that our railroad
| legislation has hindered the development
| of the state and driven out capital. Let
us consider this claim New York state
has same laws on this subject that the
1 progressive gave GeOi y
| Have those laws in New York 'un all
| the money out of New York7
The moneyed men of New York in their
| own home are accustomed to the same
| laws with reference to public service
| companies that we have here. They have
| found them equitable and just, neces-
sary for the legitimate progress of the
| corporations themselves. The broader
and wiser OF the owners Of these prop
v 81 N.,r-
| ernor Hughes for governor and aided
| him in securing the passage of these
| laws. They do not frighse1 the legiti-
| mate and honest investor. They may
deter the wild and reckless speculator
| who would come amongst US only to ex-
plot our resources by filing his pockets
| from the sale of excessive bond and
stock issues and then leaving after hav-
ing placed a permanent burden upon
| the resources OF the state.
We desire manufactures, we desire
| banking institutions, we desire COM
| merciaI houses. Would the owners of
| money to be invested in these lines of
enterprises in New York state hest
| tate to place their money in Georgia
| because we have a railroad commission
| law similar to that of New York? Do
they not know that they can not afford
to build big factory at d point where
*
them what 1t pleased arbitrarily take
| up their sidetracks. or arbitrarily leave
| them, after their money had been put
| in the factories, where they could not
| do business? Would the rinanciers in
New York invest his money in a big ner-
| camille business in Georgia, where he
knew the railroad company could ar
bitrarily destroy his business by ex-
cessive freight rates? Would the fnan-
cier put his money into banking institu-
tons in a state where the entire COM
merce of the state could be arbitrarily
| throttled by railroad companies?
| SUPERVISION BRINGS CAPITAL
The truth which 1 desire to impress is
that the FAIR AND JUST SUPERVI-
| SION OF TRANSPORTATION COMPA-
MES rs ABSOLUTELY ESSENTIAL
| TO THE GROWTH AND PROPERTY
| OF THE COMMERCE OF THE STATE
AND ABSOLUTELY ESSENTIAL TO
| INDUCE MoNEYED MEN TO PUT
| THEIR MONEY INTO THE STATE; in
| stead of driving out foreign capital II
| is essential to our success in bringing
| foreign capital into Georgia to help us
| develop the state.
| FREIGHT RATES FROM AND TO
PORTS.
One of the subjects which has received
| frequent discussion in connection with
1
| the character of charges which Should
| be made TO and from all interior points
| in Georgia to ports. l have insisted that
these rates should be fixed on the basis
| of what was reasonable and lust for
the particular haul to be made by the
railroad company to and from the ports.
Let me illustrate by using the city
OF Waycross. insist that the rate frov1
Waycross to Brunswick and Savannah
| or from Brunswick and Savannah 10
Waycross should be fixed solely with
reference to what is a reasonable ard
| just charge by the railroad company for
this particular haul and that these rates
should not be made excessively high
| with the view of forcing you to ship
your freight from or to The east or
west altogether by rail, thereby giving
the railroad companies a longer haul of
your freight.
Water is the cheapest plan for trans
portation. We should encourage the use
of our ports in the transportation of our
commerce. 1t will build and strength
en- the state, IL will build and strength
en- the railroads really located in Geor-
gia and 1t will develop the commerce of
the state with increase of prosperity to
those engaged in every line OF business.
VIII ether on the farm, in the factory or
store house. Our railroads to and from
our ports have largely been controlled
| by companies that own long lines of
railroads reaching east and west.
know that in many instances rates to
and from our ports have been kept i'm
properly high forcins shipments over all
rail lines. thereby depriving the people
of that benefit from their ports to which
trey are entitled through our Favored
| location.
UNFAIR MISREPRESENTATI
The unfair Misrepresentation of my
position on this subject by the OPPOSE
tion appears as proof of their unwilling
ness to discuss the question on its mer-
its. IT HAS BEEN SAID THAT I FA-
voRED A MODIFICATION OF RATES
FOR ATLANTA ALONE. THIS IS
ABSOLUTELY FALSE. NO READ
JUSTMENT COULD BE MADE THAT
| DID NOT APPLY TO ALL. POINTS
IN GEORGIA 1t has been said
that l favored reducing the rates
| from the ports to the interior and I'M
cressing them from the interior to the
ports. This statement was absolutely
| false.
| 1 do not undertake to say what any
| particular rate should be; l only insist
that all rates to and from the ports or
| Georgia to all interio: points should be
| fixed upon the basis OF what is n reason
able charge for the particular haul and
/ that the RATES SHOULD NOT BE
/ ID