Harrisburg telegraph. [volume] (Harrisburg, Pa.) 1879-1948, 1914-06-18

1t is expected that the Interstate
Commerce Commission will very soon
decide the long delayed question
whether the railroads are entitled to
increase their freight charges. If the
decision comes at all 1t will have to
come before the end of the month, for
after that date the commission will ad-
journ and not reconvene until late in
the Fall. Everyone at all concerned
with financial affairs even remotely
has hung his hopes upon a favorable
/ adjudication for the railroads in their
plea for more pay for their services,
, since they are now compelled to buy
all their supplies from hand-to-mouth
and employ fewer workers than ever
before because of reduced revenue re-
turns and poor credit.
What the new members Of the COM
mission have in mind no one, not even
those high in the councils of the big
political leaders or financiers can say
! Not in years has there appeared so
little information which might throw
some light upon what might happen
All sources from which a leak for ad-
vance news might be expected to
spring have been effectually sealed up.
Wall Street in consequence, has had
| to feed on rumors for months, every
the railroads have made out very
strong case on it's merit solely and
this fact has created confidence that
| they will win out, even though they
may not get all they have asked for.
There is, however, another side to
the rate question. Will it, when it
finally comes and is favorable, cause
an instant revival in business and be-
come a prelude to another period of
prosperity? A good many observers
believe the decision will have no mag
| ical effect. That it will influence SEN
timent favorably there is no doubt,
but actual business requires as a stim-
ulant more than mere Sunshine 1t
needs business orders, with profit in
them. In this connection the crops
will have the final influence for good
or ILL., So far the weather is working
in league with business and if this
alliance is not interfered with before
the harvest is in, then the railroads, If
! favored with a right to charge a little
bit more, will then be in a position
to hand out some very large orders for
rails, equipment and improvements.
| There are three industries aside from
labors which count among the rail-
roads their most important customers.
These are steel, coal and iron. How
they have suffered because of the in
ability of the railroads to buy their
material in large quantities, can best
be answered by their decreased tom
mage. Not in years has their output
reached such small proportions, as in
the last twelve months. To these i'm
portant industries at least a rate in
crease would come like heaven sent
mama to rejuvenate them.
How nettled businessmen feel about
the constant meddling by politics in
business is indicated by a speech re-
Gently made by Frank Vanderlip, the
president of our largest national bank,
the National City, wherein he advised
businessmen to enter more actively
into politics with a purpose to fill some
of the important government posts.
The idea is not new. There is no OBJ
stacle in the way of businessmen Of
fering themselves to their constituency
for important offices, but for business
men to organize as businessmen to go
Into politics and fight candidates
whose record they do not like, as Mr..
Vanderlip suggests would bring down
upon them more criticism than would
be possible under any other circum-
stances. Businessmen as individuals
may go as far as they like in voting
against candidates who have given
them cause to fight them, but we do
not want any more exposures such as
anne with the scandalous revelations
before Congress last year in the Null
lhall-National Manufacturers Associa-
ton inquiry
The outflow of our gold to foreign
capitals has gained such totals as to
alarm some students of international
finance. But the extraordinary outflow
is not hard to understand and it is
perfectly natural. Our exports have
as the result of the depression in Eu-
rope, due to the Balkan war drains
fallen to negligible proportions, and at
the same time, our imports, by rea-
son of the lower American tariff, have
very largely increased. The balance
against us in this respect is upwards
of $50, 900, 900 as compared with last
year. Then, too, American travellers
are going to Europe this year in the