The sun. [volume] (New York [N.Y.]) 1833-1916, 1916-04-28

has been much criticised. he said, but its
success is undoubted and the time Is
coming when legislation n criticism
will ave to recognize IT, He was not
In favor Of the sharing OF profits on n
broad indiscriminate scale. he said. but
believed that "men Of ability and genius
should have a bigger share in the profits
due to their own Inventions Then he
turned to national preparedness.
The success of industry In a country
depends on n thorough understanding be-
tween industry and Government" he
said. when we speak OF preparedness
we may be sure the industry OF the
country will stand shoulder to shoulder
with the Government In time OF war.
But the Government should stand by and
foster those industries which will work
with the Government.
True preparedness for war lies pri-
marty in the industry Of the country.
For the industries I represent ! can say
that there are no truer patriots any
where thar in the iron and steel indus
try"
willard On R%aiIroads' Future.
Daniel Willard. president o. the Bal
timore and ohio Railroad. said In Part
Those who manage the railroads to-
day understand clearly that II is the
mandate OF the people that the railroads,
although owing their existence TO pri-
va.e capital. shall be operated az semi
public institutions subject In all matters
10 public regulation and control. The
curriers' also realize that II a system Of
economic policy cannot be worked out
successfully the only alternative will be
Government ownership with political
control. instead Of ownership by the pub
lie individually. as now with govern
mental control.
personally I feel conhden, that the
present system can be made a success
that IL has not been a complete success
IN the past is n matter NJ common
knowledge. The defects. I might almost
say the one defect. of the present sys-
tenn are becoming better understood. No
one would contend or expect that forty
eight different regulating bodies. with in
terests sometimes at variance. could
satisfactorily and efficiently supervise
and regulate the same subjec, at the
same time. although that Ia exactly what
We are trying to do under our dual sys-
tern OF Federal and State reeulii' ot
railroads.
III this country can successfully work
OF a system Of regulation of Its rail
roads. including the labor problem. which
will result In giving TO the people an
adequate and satisfactory system of
transportation such as they ought "a
have and must ave for the continued
development Of the country and It's com
mercc and at the same time yield such
return on the necessary investment as
Will attract the amount Of new capita
constantly required for extensions and
betterments IL will have lone someth!ng
that has not so far been accomplished
under similar conditions by any Other
nation.
1T ought to he remembered. however
that at present, with all It's imperfec.
lions, the American railroad system. con
sidered AS a whole, pays higher wage.
than are paid for imilar service in an,
other country in the world performs
more transportation service for a dolla.
OF invested capita! than is performed IL
any other country. and AT the same time
the people rave the benefit OF lowe,
transportation rates than are TO b,
found In any other nation where con,
ditions are at all similar