Lincoln County times. (Jerome, Idaho) 1911-1919, 1918-01-10

SHOULD De 1nter1ereu WIFI anu uiSio-
Gated as little as possible and the pub
lie may rest assured that the interest
and convenience of the private shipper
will be as carefully served and safe
guarded as it is possible to serve and
safeguard it in the present extraor-
binary circumstances.
While the present authority of the
executive suffices for all purposes Of
administration and while, of course, all
private interests must for the present
give way to the public necessity, 1t
is, | am sure you will agree with me,
right and necessary that the owners
and creditors of the railways, the hold
ers of their stocks and bonds should
receive from the government an I'M
qualified guarantee that their proper
ties will be maintained throughout the
period of federal control in as good
repair and complete equipment as at
present and that the several roads will
receive under federal management such
compensation as is equitable and just
alike to their owners and to the gen.
eral public l would suggest the aver
age net railway operating income of
the three years ending June 30, 1917.
Asks Guarantees.
81 earnestly recommend that these
guarantees be given by appropriate leg
islation and given as promptly as cir
cumstances permit.
81 need not point out the essential
Justice of such. guarantees and their
great influence and significance as ele-
ments in the present financial and in
dustrial situation of the country. In
deed. one of the strong arguments for
assuming control of the railroads at
this time is the financial argument. 1t
is necessary that the values of railway
securities should be justly and fairly
protected and that the lcrge financial
operations every year necessary in con-
nection with the maintenance, opera
ton and development of the roads
should, during the period of the war,
| be wisely related to the financial oper-
ations of the government Our first
| duty is, of course, to conserve the
common interest and the common safe
| ty and to make certain that nothing
stands in the way of the successful
prosecution of the great war for lib
erty and justice, but it is also an obli-
cation of public conscience and of pub
lie honor that the private interests we
disturb should be kept safe from I'M
just injury and 1t is of the utmost
consequence to the government itself
that all great financial operations
should be stabilized and co-ordinated
government.
mo borrowing should run athwari
the borrowings of the federal treasury
and no fundamental industrial values
should anywhere be unnecessarily i'm
paired. In the hands of many thou
sands of small investors in the country
as we'll as in national banks, in insur
ance companies, in savings banks, in
trust companies, in financial agencies
of every kind, railway securities, the
sum total of which runs up to some ter
or eleven thousand millions, constitute
vital part of the structure of credi
and the unquestioned solidity of tina
Reason for McAdoo.
"g'ae secretary of war and l easil,
agreed that, in view of the many com
pick interests which must be safe
guarded and harmonized, as well a
because of his exceptional experience
and ability in this new field of govern
mental action, the Hon. William G
McAdoo was the right man to ASSUME
direct administrative control of thi
new task. At our request he consente,
to assume the authority and duties o
organizer and director general of tn
new railway administration. He ha
assumed those duties and his work |
, in active progress.
at is probably too much to expec
that even under the unified railwa
administration which will now be pos
, sible sufficient economies can be Ell
q fected in the operation of the railway
! to make it possible to add to thel
equipment and extend their operativ
!, facilities as much as the present e.
! traordinary demands upon their us
! will render desirable without resor
,. ing to the national treasury for tn
: funds. If it is not possible, it vii
: of course, be necessary to resort
< congress for grants of money for thu
q purpose. The secretary of the trea
= ury will advise with your commstteC
with regard to this very practical n
q pect of the matter. For the present.
e suggest only the guarantees l have il
S dicated and such appropriations as al
s. necessary at the outset of the task.
$ take the liberty of expressing the hoI
s. that the congress may grant the'
l. promptly and ungrudgingly. We a
c dealing with great matters and wi
If | | am sure, deal with them greatly
ID Straw as Food.
,e Both wheat and barley straw we