The Idaho Republican. [volume] (Blackfoot, Idaho) 1904-1932, 1910-02-25
halt on new projected railroad en-
terprises. And the railroads have

terprises. And the railroads have
not reached the position that they
now occupy through any concerted
plan; they all realize and appreciate
the necessity of renewing their tracks
and equipment that the recent de-
preston would not permit of. This
in the face of very general actual
or threatened demand for large in
creases in the wages of their employ
ees, and knowing that the only way
they can grant these advances will be
by a corresponding advance in their
revenue, and the only way in which
they could increase this revenue
would be by raising their rates, and
certainly the outlook for this is far
from promising. They have no GER
tainty as to the character of legisla-
ton to come; they are in positive
fear of Congress, and are warranted
in that fear by special bills already
introduced, which is sufficient cause
for them to hesitate. They are not
certain that the people generally
would favor any increase in rates,
and they are equally uncertain as to
whether the public would not side
with labor in it's increased demands
upon the railroads. They feel as all
owners of property naturally would
feel, that the earning capacity of
their property is now absolutely de-
pendent upon the manner in which
they shall be governed. They do not
know what that government is going
to be; they are almost positive that
th GRO will ha M 1oCicio t}op VIZ biob will
cause an increased desire on the part
of investors to put their money into
railroad properties. They have been
given to understand that probably
their borrowing capacity is to be lin
tied within narrow lines by the gov
eminent, so that even if they were
willing to make these expenditures,
it would be difficult for them to OBJ
tain the necessary financing.
In fact, looking at it from any
point. the owners of railroad prop
erty have nothing to see that would
encourage them in spending any
money until they have more definite
idea as to what extent they are go
ing to be controlled and directed by
the National Government, and under
such circumstances, all of the vast in
dustrial enterprises that are depend
ing 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 posi-
tion that we were in during the early
part of 1908. In my Judgment un-
less Congress restraints its interfer-
ence with the earning capacities of
the railroads, there will be prema-
nent setback in the general business
OF the country, that it may take years
to overcome.
Some congressman think that the
railroad interests are the real force
that is behind this fapidly growing !
unrest of the business men regarding
legislation. This is absurd; we need
no spur to wake us up to our un-
fortunate situation, which is by no
means confined to railroad supply in
There are 100000 railroad
employees. It takes 100000 men
to supply what the railroads need,
and vast number of men are en-
ployed in supplying the personal
needs of the above 100000 men.
Every kind of business is dependent
in some measure on railroad prosper
ity.
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 forced the General Govern
ment to put a special protective tax
on the things they produce, which
we and our employees, who do pro-
duce them, have to pay for, and to
many of which we do not object.
On the same principal, and for the
same reasons, when business men be-
come as active in looking after their
interests, and with the same rights,