Daily Kennebec journal. [microfilm reel] (Augusta, Me.) 1870-1975, 1914-12-19
As to European War

AS to European War
Chairman Harlan, considering the eff
feet upon commerce by the European
war. says:
THE results of that conflict, which is
unparalleled in recorded history are ac-
cepted in part by the commission as the
basis for the action it proposes in the
supplemental report Just how long the
war may continue no one can conjecture
To what extent it may impair and i'm
pede our general prosperity and COM
merce cannot be predicted. Both undoubt-
eddy are seriously menaced by its fur
Their continuance; and on these grounds
We were urged at the further hearing to
grant immediate relief. The objection
was made that in deciding the general
rate questions before us we have no
right to be governed by conditions pre-
sumably temporary in their nature like
those incident to the war, nor to con-
slider the attending effects on general
business and prosperity in this country
of the allowance or denial of the pro-
posed rate increases
Aside from the objection to our legal
right and power, which perhaps should
be regarded as conclusive there are
grave doubts whether the facts assumed
by the carriers, bankers and others at
the further hearing are being verified
by the progress of vents. The apprehen-
sion of the bankers and others, most
strenuously urged at the further hearing
as reason for granting increased rates
at once, was that otherwise our railroad
securities held abroad would in conse-
~ nf he l.
markets with disastrous results not only
to the railroads but to these interests
generally.
This apprehension, the bankers ap-
parently have concluded to have been
so clearly unfounded that in advance
of any decision by the commission
upon the carriers contentious at the
further hearing the great financial in
terests in control of such matters have
ont only caused the Stock Exchanges.
which were closed at the beginning of
the war. to be re-opened, but have now
caused the removal Of all restrictions
upon trading in such securities, the
minimum price limitation having been
withdrawn.
1T also appears from public sources
that since the further hearing, interest
rates, instead Of increasing as conf
IDENTIFY predicted by the experts who
then testified have shown a downward
tendency and since the date of the
original report the average operating
rate on lines in official classification
territory have shown a marked i'm
provement.
If at any time hereafter it should
definitely appear that the carriers re-
quire immediate temporary relief by
reason of the war and it's effects, it
could be obtained by re-filing of the
tariffs heretofore disapproved and in
that event l should have no difficulty
in regarding it as a proper exercise of
our discretion under the act to decline
to suspend them pending investiga-
ton.
Clements Opinion
Commissioner Clements dissenting,
says in part:
II can but regard the action now
taken by the commission as out of
harmony with the spirit and purpose
of law, and as taking step that leads
away from the sound principles neces-
sary to conserve the ends of Justice"
Commissioner Clements urged that
the function Of the commission was to
establish rates that are lust and rea-
sonable' without substantial regard
for exterior conditions which might
be either temporary or permanent.
IF the basis of the conclusions of
the majority of the commission sane
tioning these rates in trunk line ter
ritory is sound said Judge Clements,
land points to the rule, of action for