TaÌˆgliches Cincinnatier volksblatt. [volume] (Cincinnati [Ohio]) 1885-1919, 1914-10-29
Government COntrOl Of
Railroads.

4 system al Government c6ht:oi o
railroads. in which the roads would be
grouped after the manner OF regional
reserve banks, with one or more repre-
sentatiyes Of the Government on each
board OF directors, and backed by O
federal guarantee, is advocated by L. 7,
Ripley, president of the Atchison, To
peka and Santa Fe railroad. This pro-
position is worth considering. 1t offers
many advantages TO the Public the
Government and TO the Railroads. In
the first place it will work great econo'
mics. Every evening, to quote Mr.. Rip
ley, five passenger trains with every
modern convenience and apparatus and
with large crew leave from Chicago
to Kansas City, where two would be
sufficient. The other three trains are
an obvious waste. More even can be
attained In freight transportation. The
greater part oi trains carry only half
OF their maximum capacity. Some trains
90 out empty and some trains return
empty or with load that does not
cover the expense of transportation.
This wastfulness could be obiyiated by
a community OF operation under Govern.
ment control. State laws that put nm.
necessary burdens on railroads, since
they originate in demagogic rather than
economic motives, could be eliminated.
A great saving in expense Is certain
and this is the great necessity 20 re-
establish our transportation business.
The only objection addresses itself to
the Government guarantee. 1t will be
urged that the pubic ought not to be
called upon TO pay interest and divi-
dends on fictitious capital, created by
masters OF finance like Morgan
and Hartman, and that prior to an
assumption of such guarantee the water
ought to be squeezed ont OF the stocks.
1t will also be urged that it is not the
business OF the Government to assume
such responsibility. These objections
will be so persistent that the scheme
can only hope for approval by a TEN
porizing policy in this way, that the
Government he invited to assume the
supervision and that II, in the course
IF time, guarantee should appear to
be attended without a risk, the Govern
nent should enter on this part Of the
Ijut We believe that the
Government control will prove sufficient
% attain the rehabilitation Of tho rail
'oads. One Of the principal require
nents to get a market for railroad Sc
urities is confidence When the public
ire assured by Government control that
of stocks is thing OF the
,ast, that the masters of high finance
re henceforth eliminated, this will be a
powerful motive to return to railroad
tocks as investments. The economies
which can be effected will he guaran-
ee, even better than that Of the Govern
nent, that enough can be earned 20 pay
interest and dividends. Time will 10 the
est, for in the ature Of things there
an be, under good management, no
afer investments than railroad securi.
les, since by the increase of population
nd continual expansion OF commerce,
ailroads are bound to reap larger pro.
its from day to day.
WE ARE INFORMED that there is
n intention OH the part OF some eiti-
ems to vote against Prohibition and also
gainst Home Rule. This is no doubt
wing to misapprehension as to the
ieaning and the wording OF the Home
.rle amcndement. To vote against the
ormer and against the latter amend. /
tent might have the effect Of permitting
when kicked out at one
oor to enter at the other. II an illiberal
'gislature shonld happen TO be elected
I one time or the other, the vote |
gainst the Prohibition amendment |
'otild not prevent the Legislature from
assing Law introducing statewide
This can only be guarded l
gainst by voting for the Home Rule !,