The Wheeling intelligencer. [volume] (Wheeling, W. Va.) 1903-1961, 1917-12-08

lion of Life Insurance Prcsldcn's' III
session here.
"I.r, us have an end Of restrictive.
rramrIng punitive regulation ana 'hcs!h
an err Of cnnstructivc broadening
work." wrote Mr. Rca. Let us consider
how much thu railroads can wisely
spend. rather than how ltllc they can
fct ul"aE ON.
Owing t. his duties with tho fnil-
roads war board. President Itcn was I'M
uhlc to deliver his message IN person.
lnstcad. he wrot" In purt:
Let mo say, most eInphutlCally thht
neither NmcrCuu agriculture nor INDUS
try can possibly progress beyond N"
capacity az tho transportation lacll-
ties uc the nation 10 handle their rh"
materials and their products. when
YOU stop railroad expansion. In coun-
Try al such distances. population lhuuS-
lr,al md agricultural uciiv!tirs ms ours
;"u automatically set dead limit 10
III. ..xpuxi"n Of commerce and produce
ton.
rs one Of III" chief ~ th~ underlying
riuscs whrSl haV" bern SHpplnE our re-
sources % trans i'orINtion. | would nam"
tho continued failure 10 provide an aac-
uuatcly rcmuurratiTr basis of rates. ihr
direct effect Of this error mas hren |"
make it difficult to raise and sustain
sufficient capital for the improvements
and extensions which are surrly needed
In The mania I,;,- restricting the charges
for transportation. the financial posi-
hllity Of permanently maintaining quail
ily Of service seems IN have hcrn "N:r-
looked. Aside from military rnnSlosrn-
tirnS. we. In III" rmIirnad industry, kn""
from personal observation that what the
t. Ter
rrlhrr than th" saving II Il fraction NJ
81 mill per ton mile. We know that there
ur, MANY shirl"r& in this country to-
day who would Gladly pay more thnn tho
established rates Ia have thrir c"mmodl-
Ties moved promptly and regularly. Tn"
0ucra,inr results and tho net return"
OF :hc railroads for many years shoe
rher. has been Il constant rise In "N-
2rnscs and taxes. and decreasing re-.
turn on the investment in rond nn'
equipment.
It do not want to convey the impress
sion that the railroad situation Is hope
lrss or that :hr credit "f the roads Is
entirely crippled. Such Is not IN" case.
Their credit can h. Sustained and their
usefulness Increased through the adop-
ton by the regulating authorities 81 Il
responsible and unified policy or lalr
treatment in the matter Of freight rates.
The government Is allowing reasonable
prices and profits Of industry: why not
Ia lhr railroads..
'Surh II policy. and not III" loan "t
government credit. would. under nrn'n
,nndiliu ions. hr Il permanent solution l"r
III" problem "t railroad credit. d" ""t
wish 10 ir Understood Us saying thai Il
government loan might not h" d"S'r-
able nyp"(i"u, il. under war rnnditi"nS
the entire capital market Is Ia hc an
Surhrd hy tn" government. l;ut 1t ShhiiII
he regarded aS m "Nl"'di"nt only. jrSil-
liable If at ALL as AN emergency meas
urc.
"Thc war L. "a n great extent r"Sr"n-
Rihlc for the present congestion Of trail
fic nnd It's movements out Of nOrrM
channels hut tho carriers would now h.
far better ahlr - cop" with tins cor
di,inn il they had rcrc!vcd NOR" liberal
treatment in the matter Of rates dnrin:
the past. a; a timc when they could har''
marketed securities md Iiran"rd i'll
rrovcments while labor and materials
wrrr reasonable In cost and the supply
ot both adequate. Tho end ~ fcNpanS'"n
aud improvements on railroads Is tia"
beginning Of decay and tn" letting down
OC the standards of service. The lack ~
Il srmpnihrtir altitude toward tn" rh'l-
rnrd@ IN governmental quarters has IN
uucStinnah!y Id To apprehension m /"
tho ruturr Of 'h"ir securities. and this.
personally h"licvr. if il corrected. VIII
ultimately affect tho credit nt N" GOV
ernm"nt itself.
notwithstanding prevailing high