Hopkinsville Kentuckian. [volume] (Hopkinsville, Ky.) 1889-1918, 1918-01-10

carried out With az little dlsturoancs
q the present operating organizations
and personnel OF the railways % pos
sible. Nothing will be altered or dis
turhed which Il Is not necessary 70
disturb
I'VE are terving the public inter
esta and safeguarding the public safe
", but We are aisJ rca..-.ll "a 40
interest OF those By whom these great
propertles ars owned. and glad 10 aYan
ourselves OF the experiences and the
trained ability OF these who have beeh
managing them 10 Is necessary that
the transportation OF the troops ana
OF war materials. OF food and OF fuel.
and OF everything that h necessary
for the full mobilization OF the en-
ergies and resources "a the country
snould be first considered. but II 10
clearly in the public interest also that
the ordinary activities and the normal
Industrial and commercial life OF the
country should be interfered with and
dislocated az little az possible, and
the public may rest assured that ths
interest and convenience Of tie pri-
vate shipper will be as carefully
served and safeguarded as II Is posi-.
Bile TO serve and safeguard II In tho
present extraordinary circumstances
sIdetraok Private Interest
while the present authority of the
executive suffices for all purpose3 oil
administration. and while. OF course.
all private interests must for the pres-
ent give way to the public necessity.
Il Is. | am sure you will agree with
me. right and necessary that the own
ers and creditors OF the railways, thel
holders OF their stocks and bonds,
should receive from The government
an unqualified guarantee that their
properties will be maintained through
out the period OF federal control in as
good repair and as complete equip-l
ment as at present, and that the sev-
eral roads will receive, under federall
MANAGEMENT. such compensation as 10
equitable and Just alike to their own
ers and to the general public. would
suggest the average net railway op-
Grating income OF the three years end
ing June 80 1917. | earnestly recon-
mend that these guarantees be given
by appropriate legislation, and given
as promptly as circumstances permit.
II need no: point out the essential
Justice OF such guarantees and their
great influence and significance as
elements in the present financial and
Industrial situation OF the country. In
deed. one OF the strong argumente for
assuming control OF the railroads at
this time Is the financial agreement.
IL necessary that the values OF rail-
way securities should be justly and
fairly protected. and that the large
financial operations evCry year neces-
sary in connection with the mainte-
nance, operation and development OF
the roads should. during the period OF
the war. be wisely related 10 the IL
nancial operations OF the government
War Is Fest Duty OF Nation.
Our first duty ia OF course, TO con-
serve the common interest and the
common safety. and TO make certain
that nothing STANDS in the way Of the
successful prosecution OF the great
war for liberty and Justice. but IL is
. also an obligation Of public conscience
,, and OF public honor that the privats
, interests We disturb should be KEEP,
, safe from unjust injury. and 1t is Of
the utmost consequence TO the gov
eminent Itself that all great financial
, operations should he stabilized and Co
, "
tions OF the government No borrow.
lngs should run athwart the borrow
ings OF the federal treasury, and no
fundamental Industrial values should
anywhere be unnecessarily impaired.
IN the hands OF many thousands OF
small investors in the country, as we'll
as In national hanks. in insurance
companies. in savings banks. in trust
companies, in financial agencies OF
every kind. railway securities She sum
total OF which runs up to some ten or
eleven thousand millions. constitute
viNl part OF the structure OF credit
and the unQuestiOned solidity OF that
structure must be maintained
The secretary OF war and ] easily
agreed that. in view OF the many COM
plev interests which must be safe
-rardod and harmoDized. as we'll as
because OF his exceptional experience
and ability in the new field OF gov
Ornamental action. the Hon William @.
NCAdoo was the right man TO assuR .
direct administrative control OF this
cew executive task. At our request,
ne consented TO assume the authority
and duties OF organizer and director
general OF the new railway admin a.
,ration. lie has assumed those duties
and his work is In active progress. o %
| "it - probably too much 10 expect
that even under the unified railu r
administration. which will now De
| sihle. sufficient economies be ....
fccteG In the operation Of e
ways 10 make II possible 10 az
! their equipment and extend their
erative facilities as much as the
ent extraordinary demands upon t. 20
re will render desirable. wlthru'
sorting 10 the national t-,.4ury
| the funds. II 4 Is not possible. {. .t'
of course, be necessary 10 ra
| the congress for grants OF mon,
| that purpose. Tho secretary of
treasury will advise with your D..
mittees with regard 20 this very
deal aspect of the matter 20
present ! suggest only the ruarar
| ! have indicated. and such appro
| lions As are necessary at the outset (
this task. take the liberty OF ,,-
Il -