The Topeka state journal. [volume] (Topeka, Kansas) 1892-1980, 1910-12-17
Taft Now in Line With Railway
Officials on Legislation.
Comparison Of His Message
With the Officers Views.
POLICY is TO WAIT.
Declares for New Laws Before
Old Ones Are Repealed.
Other Items of General Interest
in Traffic World.


President Taft's railway program %
outlined in his annual message 10 -
gress must be considered an ebonId
~ conservative one and Wnlch sA n1--.
ba biphlv satisfactory to the COLI
NAMES and all their officials, says sns
RaiIwav Record. While ne renlin N1e.
congress of it's failure at Its last sessloH
to pass into law all the reco D-Lu - a
tions contained in his messase u
go ago he refrained from urging
them to proceed further in the mater
at this time. He pointed out Eely
clearly that sufficient time nao noI ye-
elapsed to test the benerlts ana u.laas -
~ the amendments to the lnlersIata
Commences act which congress at It's last
session had adopted, and In MS opiil ~
ar Interests of all the people or the
country will be promoted by allowing
things to rest as they are until II mas
been determined what further chanses'
A. any. are necessary to be made
This Is in direct line with the views
which have been expressed by a sfeat
many prominent railway OFFICIALS Since
the adjournment of the last session Oh
CONGRESS. They have lost no opportun-
ity of pointing out that one OF tne
things most needed to restore CON
fidence in the future prosperity OF the
railways of the United States Is 10 give
them an opportunity OF acconlooa s tue
new law in all its details, and to de-
ternine what effect the enforcement OF
the law as it now STANDS Is eoiils "
have on the revenues OF the com
nanies. What railway managers nave
most feared is more legislative interrer-
ence. They have certainly had enough
Of If to last them for a good many
years, and they must have neaVeo
big sigh of relief when they read tnat
mart of the presidents message recon-
inc a cessation of legislative interior
nnca in the MANAGEMENT of their af-
Another point in the presidents mes
saga which must have afforded railway
managers in common with all corpo-
rate interests considerable satisfaction
was to be found in its closing Worus
wherein he said: 81 believe 1T to be In
the interest of all the people OF the
country that for the time being the
activities of the government, in add1-
+ion to enforcing the existing law, he
directed toward the economy or ad-
rninistration and the enlargement OF
opportunities for foreign trade, the
conservation and Improvement OF our
AGRICULTURAL lands, the building up OF
home industries and the strengthening
of confidence of capital in domestic
Investments" The last phrase of this
concluding sentence of the presidential
message is especially significant There
can be no doubt that the confidence OF
&C pitaI in domestic investments has
been rudely shaken by the policy pur-
sued by the government IN the last
three years. That policy has been
pretty generally, if not universally con-
sidered by capital as direct attack on
the investments already made by 1t In
domestic enterprises of one kind or an
other and it must be exceedingly graft
flying to it to be afforded this oppor-
tunity for hope that there is to be some
cessation at least to the persistent at
ticks made upon it b. the governing
powers of the country.
1t is to be hoped, however, that the
president will not remain satisfied with
furnishing some grounds for this hope
IN his annual message, but that he will
go further and see to 1t that the invest
ments already made by capital in these
domestic enterprises is afforded oppor-
tunity to earn for itself reasonable re-
turns on the investments already made
There can be no more certain way
adopted by President Taft and the ad-
ninistrative officers who are subject to
his directions Of strengthening conf
dence of capital in the greatest Of all
domestic investments than by making
1t known with the least possible delay
that the railway companies of the
CO. .ntry will be permitted to make the
increase in freight rates of which they
have given notice. The probabilities
are exceedingly strong that such an
announcement would be followed i'm
mediately by such an increase in all
kinds of business activity as would
demonstrate to everybody concerned
that the restoration of confidence on
the part of capital has been accom-
plished.
It is evident that President Taft
sees that the continuance of his own
administration after the expiration of
his present term of office is entirely
dependent upon the restoration OF
confidence of capital. No administra-
ton in this country can survive a pro-
longed period of general depression,
and it is evident that President Taft is
shrewd enough to admit to himself al
least that such is the fact. If he Is to
enjoy a second term in the White
House, as president of the United
States, it can only be by bringing about
such a restoration of prosperity as will
make the people of all sections of the
country happy and contented. The
prevalence of general prosperity /:
wholly dependent upon railway pros.
perity. General prosperity has never
yet prevailed while the affairs of the
railways have been suffering from Sc,
we're and prolonged depression. The