Evening times-Republican. [volume] (Marshalltown, Iowa) 1890-1923, 1915-02-22
The Plea of the Railroads.

directions, and very much remains to
be done.
But there has, up to the present
time, been no effort of any Importance
to establish fair rates based on the
value of the railroad property, and
considering what tho roads should
nave for operating expenses. maintain
ance, profit, etc. We started with
rates made by the roads themselves,
without system OF any kind. rates
made at the sweet will Of he manage
men, and we have been correcting
them here and there by comparison
with other rates made to favored To-
ealities and to favored shippers. We
have not got down to any SCIENTIFIC
system of rate making.
Now we have come to the time when
we must get down to real business In
fairness to the public, and to the rail-
roads as well we must determine rateA
that will be fair and remunerative and
just AS public carriers the roads are
entitled to earn o. fair return on the
money actually invested in the proper
ties and the rates must be fixed at
point which will enable them to do
this. They are entitled to no more.
II the public guarantees them fail
return on the value OF the property.
the public has right to insist that
the speculative feature shall 10 elm
mated. q, .st.s
In famous case many years ago
the supreme court of the United States
held that "the basis of all calculations
as to the reasonableness Of rates to be
charged by a corporation maintaining
highway under Legislative sanction.
must be the fair value OF the property
being used by 1t for the convenience Or
the public In 1918. congress enacted
law which provides for the vaiua"
ton by the interstate commerce com.
mission of all the railroads of the Unit
ed States, and apportioning said value
among the various states. This Work
has been begun by the commission, and
it is estimated that five years will be
required to finish It, When completed.
this valuation will form a basis for de-
termining interstate freight and pas
senger rates.
The states of Michigan Minnesota.
South Dakota, Nebraska, New Jersey
| Oregon and Wisconsin have made VAL
uaiion of the railroads within tneir
borders Other states are making par
tial valuations. These states now nave
or will have a basis upon which ran
| road rates may fairly be determines
| Is 1t not time that Iowa should be DO
ing something Of this kind? Is IT not
time we should know what out ran
roads are actually worth? ~
While the interstate commerce com
| mission is making this, valuation. Inc
| railroads are themselves making SIM
| liar valuation. Why? Because. uHe
all good business men, they want 20
be prepared to protect their own ~
l - hn
| same thing? There are several rea-
| sons why Iowa should at once set
about making a careful valuation OF
! the railroads within the state:
! First, to protect our interests IN the
Z, national valuation. which will be used
as the basis from which to calculate
! freight and passenger rates. for al
| time in the future. :.
| Second-The national valuation VIII
| not be completed for five years, or pos
sibly longer. In the. meantime. We
! must answer these requests ior ~
creased rates. II we, should make -
/ state valuation, we would be N posi-
| ton to deal with the rate question m
| teiligently as far as this state is con.
4 cerned. In six to eight months. We
| could complete. the state valuation.
| Third-We should know what tno
roads are worth In iCroer 10 taA sio
/, intelligently. At the present time. tpe
Iowa railroads are paying much less
| in taxes than the roads OF most otner
] western states. Other property IN
Iowa is taxed on the basis OF It's value.
Why should not the railroads be taxeu
| on the same basis?
| It is estimated that for 100000 the
state railroad commission can make
valuation OF the railroads within the
state. In view OF the demand OF our
roads that they be permitted to IN
crease rates to the amount OF about
| ten million dollars a. year. how can
| we better spend 100000 than to make
such valuation and thus have the cor :
! rect basis on which to determine
| whether such an enormous advance -
justified?
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