Abilene weekly reflector. [volume] (Abilene, Kan.) 1888-1935, 1914-12-17


vocates of government ownership OF
railroads have been somewhat per-
sistent in the public press and the
matter Is referred TO here, not with
any idea OF combating this propa-
Randa, but merely that the people
NAV briefly see both sides CT the
picture. So long as a lot OF men
Welcome the wrecking of the rail-
roads on the theory tina. the govern
ment will take them over and that
such a state Of affairs would be pre-
ferable to private ownership, 1t Will
be impossible to obtain from them
fair judgment of the latter system
which now prevails in the United
States. 1t is impossible to go into
this great question at any length ut
this time, but here are a few things
worth thinking about. Much has
been said in recent years about the
"water" contained in American rail-
road securities, and, in this connec-
ton the valuation Of the govern
ment owned railroads of Europe Is
very interesting. In Germany the
state owned roads are capitalized at
S114,185 per mile, in Austria ct
s12O,692, IN Hungary at $69,210, In
Italy at $126,886, in Belgium at
s19O.914, in Switzerland at $102,-
$50, in Roumania at $90,113, IN
japan at $8S,104, in New South
Wales at $71,391-while the pri-
yately owned lines of the United
States, regardless of what water may
have been forced into them in spe-
cific instances, are capitalized at
only $63,944 per mile. Whatever In
flation may therefore have been put
into these properties in the past
the fact remains that their present
valuation is much lower than that
of the government owned railroads
OF Europe, and, what Is still more
important, the rates charged are
the lowest and the service rendered
admittedly the best in the world:
In this connection, a statement
contained in the last annual report
OF the Deutsche Bank Of Berlin,
which has a paid-up capital and re-
serve fund of SIS 900, 900, is inter-
esting: American railroads need
higher rates. The present rates are
the lowest in the world-represent-
ing but fraction of the English
railway rates, for instance-and
this in the face OF the fact that
wages in the United States on the
average are fully twice as high as
in Europe" Certainly this view Of
the privately owned lines of the
United States, coming from Germany
which has the most successful state
owned system of transportation in
the world, worthy Of grave consid-
Grafton.
ACbUlHk NCAA
In view of these facts, the aver
age citizen may well ask himself
whether is 1t not best to let well
enough alone rather than invite
other ills we know not of-whether
it Is not wiser to cure such defects
as may cucumber the present sys-
tenn rather than run the danger Of
plunging this mighty industry into
the whirlpool of party politics for
all time, with its attendant oppor-
tunity for evil of which the past af-
fords such rich variety of exper-
fence. The United States is still a
young country. and In many sections
only partially developed. Many new
lines and extensions are needed here
and there to give a wider opportun-
ity to expanding agriculture and
commerce, and nothing could be
more unfortunate or disastrous than
that these favors could henceforth
be obtained only by leave OF the
dominant political factions which
viii reign at the national capital IN
the years to come. Political parties
are intensely human institutions,
and the average cautious citizen will
prefer to leave the railroad expen-
sion Of the future to the economic
law Of supply and demand Of the
different communities rather than to
place such a temptation for power
in the hands Of those who rise and
fall in the field Of politics. Further
more, should the time ever come
when the government takes over the
railroads. 1t means that the people
WIN have to forego the millions Of
taxes which they now pay and which
help to support the public schools.
.s.,hfft hfghuvava and othQr Dublic