New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1915-01-10
ELLIOTT BLAMES
PUBLIC and ROADS
New Haven Head Warns
Transportation Industry
May Be Crippled.
EX-PRESIDENT TAFT
BACKS HIM UP
Saws Pendulum of Strangling
Legislation Has Swung
Too Far.

Boston. Jan. g. Howard Elliott, head
of the New Haven railroad system,
told the alumni of tho Massachusetts
Institute of Technology tonight that
Impotence Of the public shared with
errors in management for the mass
of legislation affecting the transpor-
tation industry. which he described as
confusing. drastic, conflicting and
Gripping" He said, in part:
at cannot be denied that some OF
the difficulties in which this great in
dustry now founders are due 10 err
rOrs and msconcept Dns in the past
as to the duty Of the public service
corporations to those they were trying
TO serve. There is, however, much oil
good and high purpose in the manage
ment of railroads, and some OF the
errors and mistakes which are now
condemned were made through lack OF
experience IL should also be remem-
bered that practices now condemned IN
business life were considered proper
by individuals and the government IT.
self only few years ago.
at would seem as II sound policy
for the state and the nation would be
to strengthen the credit of the rail-
roads. and not to strain II, so that
securities now in the hands OF the
public will be considered safe and new
securities may be sold 70 make those
improvements which will shortly be
come necessary to carry on the Dusl-
ness of the country.
There are a number of signs that
the pendulum of regulation, having
swung so far in the direction OF dras-
tic and almost strangling Legislation
has stopped, and it is most earnestly
to be hoped that the damage already
suffered by the great transportation
interests of the country can be re-
paired before the next uplift IN DuSl-
ness. =.
"As an academic proposition, ~
seems to be conceded that the railroad
industry needs more help than IL can
obtain from itself. The need is great
and the time is short within when 10
nrepare for the growth of the coun-
try, for can any one believe tnat inc
United States, with l00,0O0,0OO people,
with $4,000 100000 of new agricult-
ural wealth produced each year, and
savings institutions, IS going TO stand
still? OF course, 1t is not, ana IL y, Is
going ahead again and people VIII
want coal and ore and iron and steer
and lumber and merchandise and man
ufactured articles moved about the
country in quantity greater IN the next
ten years than ever before.
what is true of the United States
il true of this beautiful and populous
New England. II will grow and de-
velop. and its great railroads should
be helped in their earnest efforts to
nut their houses in order and keep
solvent until brighter times come. The
New England roads need a number OF
things. some Of which have already
been granted in part.
"They need higher rates, both treight
and passenger. to meet modern condi,,
lions Of wages, taxes, terminal ana
other expenses.
"The people are regulating TOO
much; the pendulum has wung too ian
the other way" said ex-Presdent Aft
following Mr.. Elicit.
"At first" said Mr.. Taft, "the rail
roads thought they were the whole
thing. They violated the law; did
things they should not do; defed the
people as they did the Interstate Com
merce Commission, during the early
part Of its life. But they found, as
everybody else will find, that nobody
can defy the people on questions oil
justice.
81 agree with President Elliott that
the pendulum now has swung too far;
that the people are regulating toe
much. and consequently the people are
hurting themselves. We must retrace
our steps if we would actually work
for good"