The Brattleboro daily reformer. (Brattleboro, Vt.) 1913-1955, 1916-01-25

~ prosperous times they appear to ,
show a surplus,- when times are nor
NAL or subnormal the receiver takes
possession. 1t is then the optimist.
the constructive promoter, who takes Il
large chances for large gains, reor- Il
ganlzes them, combines them with
more prosperous roads to which thew
act as feeders, spends money on the
equipment, stations, roadbeds, and |
makes them of greater service to the |
public In doing this he is doing a |
service to the public dependent upon
them. SO far as he has created a per |
manent enterprise, which is of service |
to the community, he has taken moth
ing from the community at large. |
Rates cannot be raised to pay divi- |
dends; these are controlled and have
been for years beyond the control OF
the roads. The promoter may create
a large capital, which he may sell at
a big price, but from whom does he
get it2 Not from the community, but
! from the individual. If the stock is
worthless he has not harmed the COM
munity, only the individual to whom
he sold. The money is not lost to the
community. No wealth has disappear
| ed. 1t has only changed hands. 1t s
| like betting on horse racing, cards,
and other games of chance, which
many indulge ina foolish thing to
| do, and is not to be upheld or excused,
but it is likely to continue so long as
people have property and like to take
chances.
You have had many speculations
in Vermont of many kinds, in which
high values were created and still
higher ones, so long as the craze last
| cd or 31p+il 10 ys-b5 i
find no buyers, but found himself hold
ing the bag while some other fellow
had his money
1t would not be bad thing for
the state if another railroad boom
should start, and few cross country
railroads should be built, even if some
contractor or promoter made a few
dollars. They could not take away
the roads after they were built and
they certainly never will be built if
you wait for the local investor
''Look the matter squarely in the
face. | am not an advocate of wild
speculation or promotion. 1t is de-
moralizing to the individual and the
community, it gets false ideas of
wealth, it gets into the heads Of those
who don t want to work and demon
allies them. | am not only a strong
advocate for control and regulation
, but | think | am one of the first cor
poTation managers to advocate it, 1t
is as necessary for the protection Of
corporations from each other as for
protection to, or from, the public
! What would happen If railroad could
, pick up its property which did not pay
and move away to another field, as
: other business does; do you not think
/ our attitude toward them would be
different? When you want one built
into your section YOU do not threaten
+ the promoters, you coax them. If the
railroads are to continue TO serve you
@ they must live, they must prosper
!, You cannot continue Indefinitely TO IN
: crease their expenses by increasing
|. taxation. wages and requirements OF
e every kind without in some way in
! creasing their revenue. If rates anG
J. operating conditions were the same
5. now as ten years ag0,Sthere would bt
e no necessitA f.9rsah5isaane ressed Fevelfue
it In the past iftTeased revt@4ess and re
e dueed gates. f2ge b9en Wtt ~ scien
e tifc aid Paeffe4 ohess4fng sorg8ntza
4 ton : and improved transportation
q methods. The limit has about heel
it reached in that direction You mus
r consider and treat the railroad corpo
ration as a part of the community,
&c necessary part, and treat them as fel
If low members. Upon their prosperit
II your prosperity depends