New-York tribune., 1917-12-13

posed the idea OF government owner
ship in general. and urged the neees-
sity Of their 40 per cent wage increase.
Adoption Of the plan understood 70
be favored by the President, as already
outlined, would involve, The Tribune's
Informant declared the payment 20 the
railway stock and bond holders Of the
eountry approximately Sl,Ooo,oOoo'ooo
wear. This is, roughly, the normal
smount Of funds available for payments
Of bond interest and for dividends by
The railroads Of the country.
II is pointed out that the adoption
ef this proposal would not interfere
With the granting of the rate increase
asked By the railroads, or such part OF
il as the Interstate Commerce Com
mission may deem necessary. Indeed
,he whole theory Of accepting normal
ret earnings as the basis OF payment
Is a recognition that this is the amount
which the railroads have been earning
under rates deemed At the time TO be
fair by the Interstate Commerce Com
mission.
Now. this billion dollars a year, once
conceded. IL il pointed out. would be-
come the basis for establishing the
Valuation OF the rosds. should it be de-
ei6ed 10 take them over for permanent
Government operation at the conclt-
sion Of the war. Capitalized. % IS sara,
This would be about sixteen billions or
dollars that the government would pay
- tho security holders OF the country
for their property.
= The President does not desire, II is
ssid. whatever may be his ultimate
views. 20 bring about full government
ownerehip during the war.
He would like 20 avoid. II poSS'o'e'
the addition or this burden 20 the imam
cial problem Of the government aI ,H's
time. But at the same time he Goes
not wish TO take step whlch u!F FHI
readily have the effect OF preclpltatlns
81 manic. and this, some of his ADVISERS
have pointed out 20 him, may readliy
follow the operation Of the railroads as
.he government desires without some
nrotective measure for the stockhold-
crs. .-..5 o,,. tho.
(. -,igb+ reallv be the most eihclent way
Of operating two ordinarily competing
,i,cs "a move all the low rate frelght
over the one, and all the higher class
sc,tion freight over the other. ms
,,;-b4 result. we're each road leit 70
fnsnce It's own operations and securl-
ties in the road getting the cheapet
freight failing to meet IT'S lnteItss
cbarges. while the more fortunate roau
piled up profits. .;.. :, is
The most efficient operation u Is
yprther pointed out in urging the P.Sh
believed to have been approved oy Vhe
p-ssidynt. could. not be had II the eN,
.rNfsves operating the railroads ana
+Le President is declared posiuvely, 10
bsxe NO intention. no matter what plan
he should finally approve, OF having
anv one else in direct charge OF opeI-
alton but the present executlves--WeIe
,rnryied about the earnings OF ther
Dsrticular roads. Every executive
rouId do the most toward forcing the
railroads OF the country at large 10
move the business with the least delay
n he worked solely with that general
end in view. and cast aside all thought
of getting the most valuable trafic Tor
his particular road. 60,
Just when the President viii read
his message 70 Congress is as yet un-
announced. lie has stated TO advisers,
however, that II will be in the near
future, and no one here doubts that
the message will be delivered within
week.