The Nome daily nugget., 1914-03-24

watered stock of the new issue for nc thing.
 The railroads very probably need help. but they need 1t from within and not from the government. What they do need from the government, and what the president very wisely sug- gested when appealed to for help. was the government regulation of all flu ture issues of stocks and bonds
 Certainly not only the railroads but many other corporations would be greatly benefited by government con- trol of some kind over their unwar- ranted issues of watered stock and the public Is entitled to the protection f the government in regard to these matters.
 The great railroad flnanciers, men who have built up tremendous for tunes by the simple manipulation of the stocks of the railroads. a manip- ulation which in every instance has been disastrous to the vast majority. have not won their fortunes not be- cause of thcirabilityt to handle railroads but because of their ability to bunco the mass of the people and control lation. These men have not been F ilroad builders and railroad manag- CTS, they have paid other men for that part of the work. but they have been the Cleverest minds in the world when put to the proble of twisting legiti- mate businesCs and legitimate invest ment in such way that the small share holder clipped in his cash and look nothing out while the big men in the system, who chipped in nothing got large ] l, cks # watercd bonds and also all of the profits.
 The railroad game in the United States has been one of the most won ct'Fu graft systems that was ever invented and it is high time that some 'urb was put upon these corporations.
 Ii seems now as if President Will son was of the opinion that the time had come to establish some sort Of Iol over these corporations and aC doubt this will he done during his term of office
 The building of the government railroad in Alaska is the beginning of the solution of the transportation roblem in so far as protection for the small investor is concerned.
 There will not be any small in vestor to be robbed by greedy board Of directors or dishonest officials. Every person in the country will of course he in way a small investor, but there will be no dividends to pay, no gang of high salal jed officials to ride about in private cars and cut ate tables.
 Even if. as it undoubtedly will. 1t costs the government more to operate railroad than il would a private corporation, there will be a big saving in salaries and dividends and stock manipulating and all that is saved will be saved to the pockets of the people and not to the big railroad financiers who have been getting 1t all from the private roads.
 There are many arguments against government ownership. but there is no stronger argument for it than that it will give the people a square deal at lea st and will not be used for the pur pose of building up tremendous for tuns for few at the expense of the many who must perforce contribute to the system.
 The government roads will be run foi the benefit of the people, there will b. no stock deals and no Wall streets and. if for no other reason, that should be warrant enough for making all railroads in the country government railroads