Richmond times-dispatch. [volume] (Richmond, Va.) 1914-current, 1915-03-10
PUBLIC OWNERSHIP,
IF REGULATION FAILS
People VIII Accept That as Next
Step Ahead in Control Of
Railroads.
VIEWS OF OSCAR UNDERWOOD
Standardized From Alabama Thinks
1t Is High Time Government
Should Come to Aid OF Leaders OF
Industry and Finance.

NEW YORK. March 9.--In a speech
on tho railroad situation before tho
Sphinx Club here tonight, Oscar w.
Underwood. House majority leader In
the last Congress and now elected a
Senator from Ala ALBANIA, declared that
IF governmental regulation is una bic
TO cope with the vcXcd problem that
confronts us, the people will accept
government ownership as the next step
ahead"
Discussing tho present system Of reg
ulating business. Mr.. Underwood said
the time had come when tho govern
mcnt should aid leaders OF industry and
finance
1T is not enough for the governnc nt
10 permit th"s" men TO rise from the
prostration which has ovcrtaken them
and their affairs" he continued. I'VE
have reached the point on our way 10
social betterment where sound pro-
Ercssivism must recognize that tho
proper regulation OF business requires
that UNJUST sometimes be helped and
not always hindcrcd; must sometimes be
assisted and no, forever stricken: that
wc must occasionally say You may
and not always You Shall not"
ADEQUATE PROVISION
Folk tAflEhL
Adequate provision for capital TO
maintain and extend tho nations trans
portation system is the problem con-
fronting tho government in Is regula-
ton OF railroads, Mr. Underwood as
serted. lie added that "our present
system OF regulation is breaking down.
in so far as It has supervised the
finances OF railroads with a view 70
allowing them properly TO protect their
securities that their credit may he
maintained to aid In present and future
development"
Regulation OF railroads. Mr.. Under
wood said. should take into cons!hcra-
ton the interests. not only OF the rail
roads themselves and those directly in
t"rcsted rs shippers, but OF the entire
country whose commercial prosperity
is dependent upon adequate shipping
facilities.
We have undertaken tho problem Of
government regulation OF railroads" n.
continued. and the government vii
not turn back. Regulation OF practice,
and rates Is here. and here TO stay
l;nt let US stand FOR wise and just rcgu.
laiion and no, for ill-cons idcr.d and
dangerous regulation. We mus, r.gu.
lat" so as to cnsur" all necessary rail.
road facilities both for tho present AMI
Tor the future. AS tn" public In IN.
cnd must pay IN" bill. i, Is primarily
Interested In the railroads securing the
money needed FOR their maintenance.
ana development AT REASONABLE. rates
and equally Interested In seeing tina,
II is wisely expended.
40 BACKWARD MOVE
IN THIS REGULATION
Revolutions never move harkv,r u
J! governmental regulation !s unabl.
10 cope with the vcxed problem thai
confronts us, the people will acccp,
government ownership rs tho next ste,
ahead. II Is. therefore, "A matter al
great Importance that he should earn.
cstiy "ndeavor TO reach a fair and rca
fonabie solution OF the problem OF reg.
u!ation at as carly a day as possible =
Ar"r discussing the difficulties oil
dealing With the railroads through rho
varying Jurisdictions Of the State and
Federal governments. Mr.. Underwood
said:
II cannot br denied that public con
troll has reduced the rates charged 70,
transportation and abolished unjust dis
ordinations given 10 favored shIppcrs
But IN" greater problem remains I'M.
solved. Can the money lie provided r.
expand and develop those great publir
works In manner commensurate will
the expanding needs OF our commerce,
under the present system OF publj,
control
III railway investments canno, h,
made attractive to capital, is not ths
nation threatened with an inevitable
breakdown OF its Transportation sys.
tenn