The Nome daily nugget., 1914-03-24

WateTeO stOcN OS tuc HS" as""S
 nc thing.
 The railroads very probably need help. but they need 1t from within and not from the government. What they do need iron, the government. and what the president very wisely sug- gested when appealed to fur help. was the government regulation of all fu' turc issues of stocks and bonds.
 Certa inly not only the railroads but many other corporations would be greatly benefited by government con- troi 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 hnanciers. men who have built up tremendous for tunes by the simple manipulation oi the stocks of the railroads. d manip' ulation which In every instance hai been disastrous to the vast majority have not won their fortunes not be- CD use of their ability 10 handle railroadi but because of their ability to hunct the mass of the people and contro e rtaln government officials and legis' lotion. These men have not been TO i,road builders and railroad manag- CTS they have paid other men for that part of the work. but they have been the cieverest minds in the world when but to the proble of twisting legiti- mate businesses and legitimate invest ment in such a way that the small share holder clipped in his cash an'' took nothing out while the big men in the system. who clipped in nothing rut large ltcks # watcrcd bonds and olso all of the profits.
 The railroad game in the Unit a States has been one of the most won et.eul graft systems that was evei invented and 1t Is high time that some .urb was put upon these corporations
 It seems now as if President WIZ s,n was of the opinion that the time ft.. come to establish some sort oi c .iol over these corporations and nc doubt this will be 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 a greedy board of directors or dishonest officials Every person in the country will oi course he in way a small investor but there will be no dividends to pay no gang of high salai jed officials t' ride about in private cars and GU; lrcious melons on mahogany director ate tables.
 TVcn itH II uIiuOAOsSu'S "s''' costs the government more tn operate u railrond than il would private corporation. there will be big saving in salaries and dividends and stock manipulating md all that is saved will he 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 nc stronger argument for 1t thnn that fi will give tho people square deal al lee st and will not bc used for the pur- pose of building up tremendous for tuns for a few at the expense of the many who must perforce contribute tC the system.
 The government roads will Do run for the benefit of the people. there vii bc no stock deals and no Wall streets and, if for no other reason. that should hc warrant enough for making all railroads in the country government railroads.