New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1914-01-02
new YORK CENTRAL
HEADS REMEDIES
Normal Crop, REIMBURSEMENT
Of Markets and Freight
Rate Increase.

President of the New York Central Line.

President of the New York Central Line.
From present indications il would
appear that there will bc some recess
sion i'm business during the early
months Of 1911. due in part to causes
which appear TO he somewhat beyond
control. The American crops of gram
and fruit i'm the Northwestern states
appear to he several hundred million
dollars below normal. This naturally
reduces the purchasing power of the
rcople. which viii he reflected in some
decrease in miscellaneous manufacture.
There is also apparently, rcadjust-
ment in markets. which may be tempo
rsrv. to conform To- the new tariff con
ditions and there is also some con
yervatsm among investors pending
settlement of the questions Of the cur
rcncy and railroad regulations. If
these current matters of legislation he
fairly and wisely disposed Of, and
should the coming year produce nor
NAL crop. we arc unable TO discover
any other symptoms Of pessimism.
The potential energy 0f the country
will assert itself within reasonable
time
Meanwhile, the fact should not be
lost sight of that proper treatment Of
the railroads is a very important factor
i'm the restoration Of prosperity, be-
cause they constitute the second larg-
f,.1a al nf
,he country. and under government
regulations they are almost entirely
dependent upon the people for protec-
ton and for the means Of rendering
efficient service.
There are millions of people who are
interested in railroad securities through
the ownership of stocks and bonds and
through deposits i'm banks and through
l.fc insurance. These investments
should be made as safe as govern
meut bond. not only by national super
vision Of rates, appliances and meth
DDS. but possibly also 10y national
supervision as 90 the purposes for
which securities are issued and as to
the application Of the proceeds. This
would eliminate the conflicting views Of
existing state commissions and give
public confidence in the integrity Of
railroad investments.
There is no large institution IN the
world today that renders better SER
vice at less cost TO the people and
t,r
efficient administration than the Amer
lean railroad but IL is manifestly I'M
possiblc for the railroads To sell their
product of transportation at the same
or slightly decreasing rates and pay
constantly increasing prices for wages
and material To-day the railroads
pay 81 for what they paid 90 cents a
decade ago. Rates. meantime, have re
manned stationary or been reduced
slightly. Tho railroads cannot keep
This thing up indefinitely. a failure
ipou the farms within few states
,auscs alarm throughout the nation
Wbo could conjecture the consequences
NJ fbc impoverishmen in all the states
If The second largest institution Of the
nation?
The continued prosperity of the coun-
fry rests largely upon this issue. ana
when the American people become iulIy
informed as TO these facts, and thcir
personal interest in the matter II is De-
Iievcd they will have too high sense
OF fair play and too much commercial
foresight to permit any policy TO pre-
vail which viii jeopardize their own
best interest.