New-York tribune., 1911-02-05
.CUMM|NS HITS MONOPOLY
Tells Republican Club People
Prefer Socialism.
REMARKS LOUDLY CHEERED
In Talk on Interstate Commerce
Senator Declares for Honest
Capitalization of Railroads.

Senator Albert B. Cummins OF Iowa.
stood I'D before three hundred members and
guests OF the Republican Club yesterday
afternoon and denied that he had ever sa'"
In n speech at Chicago that the worst re-
publican was a heap sight better thah t'lo
best Democrat. Before the papers creu-
ited me with that ungracious remark
didn't know whether I stood better WIN
the Republicans or with the Democrats
Anyway, / lost all the prestige then that
l ever had with Democrats" he SAID
What did say in that speech was ina.
had more hope OF converting RepuOllcail II
from the error of his ways than hao Vi
converting a Democrat from the errors oi
his principles" the Senator contlnueu'
However, / am Republican, ana my
father was an Abolitionist, and | thought
that had gathered from lifelong STUDY
of the party that elected Abraham i'iNoo'a
10 the Presidency Of the United States that
the Republican party existed, not 10 Hiahe
men rich, but to make men free.
With these Introductory remarks senator
Cummins. who came up from washington
especially for the purpose of addressing .he
Republican Club OF New York City'
launched out into en- address on Inter
state Commerce" AS he was to De io'-
lowed by Judge Martin A. Knapp chIe'
Justice OF the new Court of Commerce WHO
was to talk technically on the organization
OF the court and the results that were eA-
pected from Il, Senator Cummlns coihi"eu
his remarks to the sociological aspect VI
the Industrial problems. which, ne saiu'
"are now awaiting solution at the hai'uS
OF the people OF this nation.
Taking the railroads as an Illustration
of the growth of monopoly, and the inter-
state Commerce Commission as the insuu
ment for the perpetuation Of the rights OF
shipper and of the people, ne led up 10 INC
time when, he said. this nation would oe
confronted by monopoly on one hand anu
socialism on the other. And take my "oru
for IT," he cried. with his hands WAVING
high above his head, "the American people
in that day will chose socialism,
The Senator incidentally said he was for
the initiative and referendum. He declared
also for an honest capitalization OF rail-
roads, and insisted that the present methoo
of setting aside surplus from earnings on
which interest and dividends have to De
| paid had everything TO do with the rate
question, and that the rate question could
not be honestly met until there was honest
Capitalization. physical valuation ne
said. represents billions more than the
money actually represented in stocks and
bonds to-day" He advocated a tribunal
of the United States to regulate the finahc-
ing and capitalization Of railroads.
AS between competition. the economic
principle Of which has been the very breath
of liberty loving people. and cooperation
for the selfish ACKNOWLEDGMENT Of the in
stitutlons engaged in cooperation, Senator
Cummins advocated a return 10 competi-
ton. but he didn't so into details TO eX-
plain how the condition might be brought
about. He said:
Government regulation Of cooperation
means eventually the fixing Of the price
by the government on every commodity Of
commerce. When we have reached that
time, nv friends, we will be lettering in the
anteroom OF state socialism. He deplored
this state Of affairs. and said that he be-
lleved. optmistically. that the American
people would settle the great problem with
the same high patriotism that they have
alwavs used To settle the great questions in
their history"
When he had finished speaking the mem
bers Of the club jumped 10 their feet and
cheered Justify. They kept 1t up until SEN
ator Cummns had bowed his acknowledg-
ments three or four times.
Judge Knapp said the chief results Of the
Commerce Court would be expedition Of
trial intelligent adjudication. relief OF cir
cult courts and uniformity of decision.