The Topeka state journal. [volume] (Topeka, Kansas) 1892-1980, 1914-04-13


to the decadent railroads and to de-
spondent railroad managers. and 1t
gives dinners and holds public ban
uuets where the eloquence Of orators
Paints lurid pictures of empty treas
ur1es, Of wornout tracks, OF falling
bridges and dilapidated equipment"
Senator Cummins quoted from sew
eral magazine and newspaper stories
giving accounts of how different rail-
roads had been forced to discharge
large numbers Of employees and re-
trench in their expenditures.
II do not assert that the campaign
is being carried on to affect the COM
MISSION" he continued, for the rail-
road companies know that 1t cannot
be swerved hairs breadth from the
path of its duty, but do assert that
the movers of this campaign are try
ing to do an infinitely more objection
ablc thing. They are trying to mis-
lead and pervert the judgment of the
people. They are trying to awaken
sympathy by false pretenses. They
are trying to deceive the country with
exaggerated cries Of suffering and dis
tress in order to escape the control
which experience has demonstrated
should be imposed upon all corpora
tons which undertake pubic Serv-
ice"
The senator denied that the people
of the United States are hostile to the
railroads and said every one desired
that all railroads be we'll constructed
and we'll operated. He did not doubt
that there were some rates which
should be increased and some which
shuulde be decreased.
Made Rates Themselves.
Senator Cummins recalled that sub
stantially all the railroad rates now
prevailing were made by the railroads
themselves and added that in his Opin-
ion 95 per cent Of the freight reve-
nues of the railroads are derived from
interstate freight rates made and pub
lished without any interference on the
part of the government. He added
that he believed that the physical con-
dition of the railroads is better now
than ever before in their history.
1T follows, of course" he went on,
that the railroad property devoted to
the public service is more valuable at
this moment than at any other mo-
ment since railways began. We ought
to understand that we are dealing
with the most perfect and complete
railroad system that this world has
ever seen, prepared to render more
and better service than 1t has ever
tons about railroads passing into de-
cay and becoming unsafe or insult
ficient Is the rankest, baldest nom
sense.
1T is beyond doubt that the rail-
roads are now experiencing a some
WHAT severe OcpreSS1On, the VOlum0
Of traffic is greatly diminished. as
compared with that two or three
years ago. The depression began
with the first of October last and has
grown more serious with each month
since that time. 1t is sufficient to
say that for some reason people are
not buying as much as they did, man
ufacturers are not producing as much
as they did. and consequently there Is
not much to haul from one part of
the country to another. hope and /
may add that it is my belief, that
these distressing conditions will be
temporary and that speedily business
will resume its normal condition
Senator Cummins said that other
industries are suffering as well as the
railroads and this passing fluctuation
In trade cannot be given as q reason
why railroad rates should be in
creased. He then took up what rate
OF the return on an investment is gen.
orally accepted as fair.
Big Increase In Revenues.
He said between 1890 and 1898 rep
resentattve government bonds paid an
average return of between 2.43 and
2.52 per cent in the United States, be-
tween 2.88 and $50 in Great Britain
and between AS and 3.34 in Ger
many. Typical railroad bonds in 1903
ne said paid an average of from 3.S7
to 4.14 on the Investment.
Discussing the net revenues OF the