The Gem worker and the Idaho labor herald. (Boise, Idaho) 1914-1917, 1916-03-02


tween railroad owners and organized
laborers in tran service promises
to bring sharply to the attention OF
the country the necessity of regula-
tion of stock issues. At present we
see the railroads enjoying the greatest
prosperity in their disappearing
over billion. dollars net-but still
unable to make any great extensions
or Improvements.
The reason is simple-there is pro-
bably- six or seven billion of paper
value in railroad securities that does
not really exist but on which the
general public has to pay interest III
high freight and passenger rates.
The capacity of the great multitude
OF investors in refusing to serve their
own best interests thru following the
line of efficiency by forcing the di-
rectors of the roads to comply with
business like management both in
financing and operation will soon be
brought home to them.
Our great plutocratic railroad bar-
ons have been allowed unbridled reign
OF railroad affairs with the passive
support of the real owners-the tens
Of thousands Of small investors III
ecurities-because the giants have
distributed prodigally at times i'm
mense dividends gained in eXtortIon
from the public. But we are approach
;ng a time in the immediate future
when the end OF this is in sight. Or
oanized labor will demand justice and
freight and passenger pubic VIII
F 10 ioin in a like demand. The fight
of both these factors will be on the
whole successful and it will then be
no to the investing public who really
own the transportation companies 10
either demand better railroad heads'
who will comply with modern con-
ditions and demands, or lose several
billions of dollars, thru the entry OF
the governement into the Transports
t;on business. 1t will be futile Tor
the foolish investor to attempt to
dodge the issue by hiding his head IN
the sand, ostrich-like. lie Will soon
be called upon to choose between
standing-pat with the railroad pirates
or Joining the laboring and produc-
ing public.
do not hope for much from the
investing public because it is always
their habit to follow and approve OF
any policy that is profitable to them
selves. The public's woes are moth
ing to the investor while the latter
Still follows false gods-he must be
taught bitter lesson thru financial
loss, the only thing that will teach
him the desirability OF upholding
sound business principles.
In the meantime the one hundred
million dollars in extra cost which
will eat into the railroad earnings
temporarily will have beneficial Ell
feet on the general public. 1t will
nreyent a further initiation and ex-
tension of the already overcapitalized
railroads. A bull market is always
heavy loss to the general public and
the faster a market rises the sooner
does wave of prosperity subside.
Anything which prevents the invest
ing public from buying helps both the
wage Garner and the investor who
has already been involved.
In the mining field the demands OF
the workers are extremely modest
considering their dangerous ocoupaS
ton and no one who knows the hard
ships and danger of their employment
ever begrudges them the highest
wage. The higher wages and shorter
hours will not only raise the standard
of living among workers themselves,
but do much to improve conditions
among the people who live thru sup
plying them.
The suggestions that there be an
amalgamation of the great mine
working bodies with the railroad
brotherhoods in the great contest inn
pending between labor and capital IN
the fight for an eight hour day, re-
cognition, etc should bear close study
and not be washed aside without
due deIiberation Of the possibilities
Of victory that such combination
will make practically certain.
\ From the practical standpoint