The evening herald. [volume] (Albuquerque, New Mexico) 1914-1922, 1914-06-05

columns and if % is ira, that 80 Of
M Molten acts were simul, those
of 20 hired man. the banker were
certainly unfortunate in the mon
whom they hired aud we're cxtromo
N dcrelict In the performance of their
own duu of supervising the conduct
of their hired mon
What are the remedies flor such
outrageous mismBnagcment as ob-
tanned ou the New Haven whom Mel
lvn vas its president Il boz up to the
|hnaucior. and railway executives 81
america tu cooperate with publ, uf.
H0iai. lu finding uu answer to that
question Tho Sew Haven is not the
only railway that has been Mcllen.
Ised. o. such revelations as have
been made regarding the financial
management OF some roads are
enough To- shake public confidence .u
railroad management ln this a
trv Tho situation ls worse than
that They ore enough Ca shake the
foundation of the confidence 81 the
people of This and 90 other countries
loo the financial mauogomcnt Of an
kinds uf business concerns .n Amer
ica. for the men dirc,tl, or Indirect
rs responsible Tor the mismunage-
mcnt of railroads are as largely In
tcrcsicd aud os potter in manufacture
INK, mining aud other Industries az
they are in the railroad business
As mas been repeatedly pointed out
bon these columns, aud aH can bee con-
'lusiy'ly "a munstratod. 10 boz only "a
relatively small D. ,ority Ut our rail
ways which have been thus misman-
aged Most 81 them have been
handled with more than ordinary
prudence ana ability, aud for every
one that has been conspicuously M
managed icre has been more than
one That has been consp.ruousiy we'll
managed. But Il is wrong tina there
should be any railways That are
grossly mismauaged. and the fact
that there are any reflects discrcdit
ON. ana causes trouble for. an Of
thom The remedies are First. ID
public sentiment that viii mold d..
r]crtors ~ large corporations up to
The performance Of their duties AZ
directors. Second, u proper sense 81
honor and responsibility among men
OF large affairs which will prevent
them nom accepting d]ircctorships
when they do o. intend To- perform
the duties OF them and will cause
them 60 perform the duties when they
accept them. Third, public rcgula-
ton Of railway financing. The Had
lev railroad securities commission
recommended the sort of legislation
which should be passed. Certainly.
when railways can he Mnllenized
there is uced either FOR now leglsla-
ton ~ lor tne enforcement of c@ist-
ing Jaws or both The greet dnnecr
Is that tho %disclospres. resarding the
tonduct ~ The MELONS. the Yoakdms
and The rest OF their ilk will cause
The passage of more radical legisia
ton than tho conditions Justify. ~
excessively drastic legislation shall
be- passed va tTrist that there will hc
ma hypocriticol woiliBg from wan
street about ignorant public hostility
toward railways n about he public
being mialcd uy demagogues The
buccaneers in Wall street and the
fools and towards IN Wall street whu
lei the buccaneers work thor wills
are the CHER authors ct such lcRisla-
ton. "a is O. toas-up whether the
dcmuEugucs or the highbinders ~ o.
nance are doinp the more a. bring
an tho details of business under the
! regulation az public officials. Eu-
gene " Debs. Morris Hlilquit and
/ Upton Sinclair him that they arc the
real leaders ~ the Socialist move
mcnt in this country. They take
themselves too seriously. The real
Leaders of socialism In his country
are such men az Charles 5 Mellen, y.
r.. Youkum and the directors 81 tho
New Haven, Frisco ana other roads
who are too crooked. cowardly. indo-
lent or incapable Ia perform h du-
ties ~ their positions.