The Clay City times. [volume] (Clay City, Ky.) 1901-current, 1917-03-29

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uatlon Judge Lovett undoubtedly had
In mind the decision Of the supreme
court ON the Adnmson law, handed
down last week, which establishes the
right OF the federal government TO fix
railroad wages and to prevent strikes
This decision is regarded by railroad
men and lawyers as marking an epoch
In the development of transportation
In the United States.
1--WE have our share of responsible
lty," said Judge Lovett, "but It rests
primarily on congress. When the gov
ernment regulates the rates and the
financial administration Of the rail
roads, the borrowing of money and the
issuance OF securities IL relieves the
railroad officers Of the responsibility OF
providing and developing transporta
ton systems. except within the limits
Of the revenue that can be realized from
such rates and under such restrictions
1 For a country such as ours. for n
people situated as we are, to blundcr
along with series of unrelated, incon.
! sistent, conflicting statutes enacted by
| different states without relation e.
each other. instead of providing n com.
plete and carefully studied and pre-
pared system OF regulation for bust
ness that Is so vital to the life of the
nation. is worse than folly"
! He summed up the present problems
and difficulties of the railroads as fol
/ lows:
First.-The multiplicity of regula.
lions by the several states with respect
to the issue OF securities, involving de-
lays and conflicting state policies gen
orally dangerous and possibly disas-
trOuS.
I Second.-The state regulation OF
rates in such a manner rs to unduly
! reduce revenues, to discriminate in In.
vor of localities and shippers within
its own borders as against localities
and shippers in other states and to dis
tul1 and disarrange the structure Of
iG,crstdte rates.
Third. The inability of the Inter
state Commerce Commission, whOeve.
| the commissioners may be, To perform
the vast duties devOlying upon it I'M
der existing laws, resulting in delay.
which should never occur in CONNER
cial matters-and compelling the com
m..jiioners to accept the conclusions OF
their employees as final in deciding
matters of great Importance to the
commercial and railroad interests OF
the country
> Fourh.-The practical legality that
has been accorded conspiraries to tie
up and suspend the operation Of the
railroads Of the country by strikes and
Violence and the absence Of any law
to compel the settlement Of such dis
puteS by arbitration or other judicial
means, as all other issues between citi-
zens in civilized states are to be set
tied.
Fifth.-Thc phenomenal increase in
the taxation Of railroads IN recen,
years.
SiXth.-The cumulative effect OF
these conditions upon the investing
public. to which railroad companies
must look for the capital necessary to
continue development
I'VE believe that the unifcatiOn OF
regulation Is essential" said Judge
Lovett, land that with the rapid in
crease OF state commissions I'm recent
years congress will in time be com
PEELED to exercise its power In the
premises. TO unity regulation there
should be complete, harmonious, con-
sistent and related system. We be-
lleve the best, il not the only practical
plan. Is the federal incorporation OF
railroads by general law. which will
make Incorporation hereunder COM
pulsory. thus imposing on all railroad
companies throughout the United
States the same corporate powers and
restrictions with respect to their tinan-
cial operations ana the same duties
and obligations To the public and the
government. 50 that every investor will
know PRED iSely what every railroad
corporation may and may not lawfully
do"
Judge Lnyett contcnded that the so
'utlon Of these problems and difficult
ties rested with congress lie told the
Ommiitee that under the constitution
the authority Of the federal govern.
ment is paramount. that congress has
the power to lcgislatc for n centralized
cou'rol Of railroads under federal char
tiers and that II only remains for that
body to exercise that power
YOU NEED A SPRING LAXATIVE
DR.. Kings New Life Pills will
remove the accumulated wastes of
winter from yonr iniestines. the