Evening capital news. (Boise, Idaho) 1901-1927, 1918-01-04
PRESIDENT
CA[lSUPON
CONGRESS
FOR POWER
Asks for Full and Unre-
stricted Authority in Deal
ing With the National
Railroad Situation.
Plans Outlined for Protec-
tion of Interests Of Stock
holders, Measures to Safe
guard the Public and Com
pensation for Railroads.

penSation for Railroads.
Washington, Jan. 4.-President Will
son today called upon congress to give
him full and unrestricted powers to
conduct the federal operation >of the
country's railroads.
Before a Joint session of the senate
and house. the president outlined the
initial steps necessary to success of
Director General McAdoo's administra-
ton of the lines.
He explained that the action already
taken was necessary to secure the
complete mobilization of the whole re-
sources Of America by as rapid and
effective means as can be found"
PUBLIC NECESSITY FIRST.
PRIVATE INTERESTS" he said,
MUST FOR THE PRESENT GIVE
WAY TO THE PUBLIC NECES-
SITY."
The, president asked:
NECESSARY MEANS FOR
PROTECTING THE INTERESTS
OF RAILROAD STOCKHOLD-
ERS.
MEASURES TO PROTECT
TRAVELLERS AND SAFEGUARD
PRIVATE SHIPPERS.
COMPENSATION FOR THE
RAILROADS, BASED ON THE
AVERAGE NET RAILWAY OP-
GRATING INCOME OF THE
THREE YEARS ENDING JUNE
80, 1917.
He added that 1T is probably too
much to expect that, even under the
unified railway administration, suffi-
cient economies can be effected to
make it possible to add to their equip
ment and extend their operative ia
cilities as much as the extraordinary
demands will render desirable without
resorting to the national treasury for
funds" but he asked no appropria-
ton, stating that Director General Nc
Adoo will advise with the proper COM
nittees later on this point
BUSINESS MESSAGE.
1t was a plain, business message
taking but Is minutes to deliver, and
was received quietly by the legisla-
tors.
The president obviously sought to
quiet any possible unrest which might
result from the sweeping action of the
government.
1T is of the Utmost consequence to
the government itself" he said, that
all great financial operations be sta
bilized and co-ordinated with the fl
nancial operations of the government"
mo borrowing" he added. should
run athwart the borrowings of the fed
eral treasury and no fundamental in
dustrial values should anywhere be
unnecessarily impaired"
VITAL PART OF CREDIT.
Ten or II billion7 of dollars invested
for securities by many thousands of
small investors as well as financial in
stitutiones of all kinds, Constitute a
vital part of the structure Of credit
and the unqnestioned solidity Of that
structure must be maintained" he de-
clared.
Immediately the president concluded
Representative Simms, chairman OF the
house Interstate commerce commits
sion, introduced bill. carrying out the
presidents recommendations. The
committee will take up the bill Mon
day. Simms expects a report next
week and will press for immediate ac-
zion by the house. Simms and others
of the commerce and rules commit
tees will confer with the president to-
night relative to means of Fastening
action.
TEXT OF ADDRESS.
The presidents address follows
"Gentlemen of the congress / have
asked the privilege a addressing you
In order to report to you that on the
2sth OF December last, during the re-
cess of the congress, acting through the
secretary of war and under the author
ity conferred upon me by the act Of
congress approved Aug. 20. 1916.
took possession and assumed control
Of the railway lines OF the country and
the systems of water transportation
under their control. This step seemed
TO be imperatively necessary in the in
terest Of the public welfare, in the
presence of the great tasks OF war
with which we are now dealing. As
our own experience develops difficult
(Continued on Page Two)