The times dispatch. [volume] (Richmond, Va.) 1903-1914, 1914-10-13
FORTY NINE COMMISSIONS
rule OVER ILROADs.
Frank Trumbull, Chairman of G. ~
O. Board, Addresses
Bankers.
VIEWS SITUATION WITH ALARM
Menace OF Socialism, He Contends,
Lies in Constant Tendency of Over
Extension OF Regulating Idea.
Addresses Council Club.

mo railroad system in this country
= can live half slave and half free" de-
clared Frank Trumbull, OF New York.
chairman of the board OF directors of
the Chesapeake and Ohio Railway Com
pany, addressing the Council Club of
, the American Bankers Association, last
night The railroads of this country
are already ruled by forty-ninc COM
missions-the commissions of the Fed
eral government and the forty-eight
: States The situation is unsatisfactory
and presents = problem that must be
solved"
Mr.. Trumbull brought to the gath
tcring Il dispassionate, analysis of the
peculiar aiiings from which the rail-
roads OF the country are suffering
(, Without attacking the Interstate Com
.merce Commission as an institution, he
questioned the wisdom OF some of it's
recent rulings. While the commission.
; he said. had righted many wrongs. it
. has also wrongcd many rights
VIEWS SITUATION
WITH GRAVE CONCERN
The constant multiplication of regu-
iatihg commissions, said the speaker
must be regarded with grave concern
These bodies, he pointed out are stead
4 lily assuming functions heretofore exer-
ciscd by private enterprise, making no
compensatinS return for this intcrfer-
ence.
Mr.. Trumbull saw real danger In
poth the extreme extension OF the idea
of regulation. and in tho development
or large combinations. Immense com
binations. he said, are not necessary
and are always menace. They are
CLOSELY allied to socialism, holding out
to the government the constant invita-
n iTplIf at IN viii
socialistic menace. he thought. lies in
the over extension OF the regulating
idea.
The speaker expressed his profound
conviction that the railroads of the
country and big business in general
/ have little to hope from regulation
exercised by political commissions.
While regulation is necessary, it
should be performed he said. in the
right manner. and by a regulating body
independent of party and politics.
HIGH TYPE OF MEN
The correction of the unsatisfactory
situation as 1t exists to-day, said Mr..
.Trumbull, will be brought about by
Impartial and unremitting labor by
such men as Warburg, Dillon and Hard
ing OF the Federal Reserve Board, who
gave up advantageous positions in pri-
,sate life to give their services to the
country at large. Just such men, work
Ing In Just such spirit, he said, are
needed 10 bring their wisdom and self
sacrifice TO hear upon the railroa d
problem and upon similar problems
with which the country is confronted.
Mr.. Trumbull appealed to the bank
iers OF America as part of the coun-
trys sound and conservative thought
20 lend their good Offices towards
bringing about better understand
Ing between the transportation in
terests, the public and the government.
The speakers remarks upon the rail
road situation were regarded as more
than ordinarily significant in view OF
tho sweeping retreuchmcut plans re-
Gently !naugurated by the road over
whose directorate he presidcs