The Bridgeport times and evening farmer., 1918-12-09
HENRY CLEWS'
 WEEKLY LETTER

concerning the advisability of Presi- | dent Wilson's personal attendance at the Peace conference, during a crit teal period here, he has gone with l the nations sincerest wishes for a safe and successful mission. As chief ruler of this great republic, MT. Will son will receive many honors and @ hearty welcome among all the AL Hes It is quite probable that the demonstrations and honors accord ed him will be extraordinary; for the fact that MT. Wilson has made himself immensely popular abroad will intensity the desire of the Allies to express their appreciation of Amer
 Ica's help in acts as well asfn words:
 President Wilson's message to Con- gress contained nothing striking, ex- cept his views upon the railroads, which as they become better under stood command the approval of all fair minded men. His prime object Is evidently to treat both public and owners fairly. He states it Is irnpos- sible for the roads to go back to the old system of unrestrained competi- tion and multiform regulation by both state and federal authorities. He intimates as an alternative the establishing of complete government control, accompanied, if necessary, by government ownership; or else modified private control, unified more closely upon a regional basis. F'i- nallX he intimates his unWillingness to take positive position on the problem; preferring to leave the en- tire subject to Congress; and he also states that he would rather not wa-s for action until the expiration of the statutory period, 21 months after peace was declared. The ground for this attitude is that he considers such 9 course would prolong injurious uncertainty. Another favorable de- velopment was the conciliatory attt- tude of leading railway executives. On Wednesday a meeting of the railway executives Advisory commit tee, representing 90 per cent of the countrys railroad mileage, met at the Chamber of Commerce to consid- CT the return of the railroads to a peace basis An admirable spirit was manifested and a series of resolutions adopted favoring the preservation of private initiative and responsibility; opposition to government ownership; adoption of reasonable and adequate governmental regulation, and a rec ommendation that the remaining period of federal control be devoted to maintaining the integrity of indi- vidual properties and preparing for their return to their owners. Events are therefore running more favor ably for the railroads, after about 20 years of hostile legislation and un- friendly public opinion. Their future is by no means assured, and a stren- uous discussion in Cor gress is in pros pect between believers in public own ership, believers in private ownership and believers in adequate federal reg ulation. One of these three courses will inevitably be taken. The defects and hazards of public ownership are so self apparent that there is some reason for hoping in it's defeat. Tn any case if the spirit of fair dealing prevails, as apparently it will, there is little reason for security holders indulging the fear of their property being taken from them without just compensation One thing is certain capital cannot be had for improving and equipping the railroads unless ii receives decent treatment, and is al. lowed to earn fair rewards.
 Demoblization of industry is the most absorbing question of the day 1T business circles. Unavoidably there is great deal of uncertainty, some derangement and loss in this pro cess. Unfortunately the country wa! not prepared for so sudden a termi nation of hosttlities; but our bushes leaders have tackled the subject witt great vigor, as illustrated in tn great convention at Atlantic City a~t the meetings in New York of insur ance and railroad men; not to spea1 of various similar meetings of com merc!al bodies in other cities for lfk purposes Industry will certainl have it's plans of reorganization com pleted within a few weeks The de mobilization of labor is fortunatel proceeding more easily than antici pated; and aided by government O other agencies men discharged fror the army and munition plants are i the majority of cases readily findin employment in other lines, thanks t the general activity in bushes Those finding the greatest difficu ties in replacement are men in tn higher positions, also former offic employees. Cancellations are ofte making trouble, and losses are bein incurred by industrial concerns hay ing war contracts. especially thos caught with big stocks of raw ms terials bought at high prices to fl contracts. Liquidation in many sue
 
 sary; but collectively this factor
 not of serious importance, and ofte 1t is offset by the revival of long SUI pended enterprises. Nobody DIT sumes to instruct the governme, with it's superior sources of inform. ton as tow hat it should do in such situation; but the interests of con merce, industry and labor will greatly prospered by as rapid a retu1 to the peace basis as possible If u government wishes to avoid poput discontent, as it probably does. it W
 reduce the army as rapidly as feas ble, keeping no more men in Euro than are absolutely necessary f doing our share in establishing q las ing peace. It will also make an ev, more strenuous effort at lowerii burdensome taxes than it has hithe to done, if it wishes to avoid eraba rassing criticism. Not a few busine concerns are feeling the injurious (
 fleets of excessive war taxes, whi
 cripple enterprise, delay needed il
 provements and curtaiI the rewar
 of labor. The country will welcor
 the Presidents early return. if or
 that he may give much needed atte
 ton to these particularly urgent pro