The Robesonian. [volume] (Lumberton, N.C.) 1870-current, 1918-01-07

to avail ourselves of the experience
and trained ability of those who have
been managing them. It is necessary
that the transportation Of troops and
of war materials, of food and of fuel
and Of everything that is necessary
for the full mobilization of the enef-
gies and resources of the country,
should be first considered, but it IS
clearly in the public interest also that
the ordinary activities and the norm
al industrial and commercial life OF
the country should be interfered with
: and dislocated as little as possible,
and the public may rest assured that
the interest and convenience Of the
private shipper will be as carefully
served and safeguarded as it is pos
sible to serve and safeguard it III the
present extraordinary 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, it
is, I am sure you will agree with me,
right and necessary that the owners
and creditors CT the railways, the
| 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
ment as at present, and that the sew
eral roads will receive under Fedora
management such compensation as is
, 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
5 ing June 80, 1917. I earnestly recon
: mend that these guarantees be givel
< by appropriate legislation, and give1
e as promptly as circumstances permit
r I need not point out the essentia
e justice of such guarantees and thel
o great influence and signifance a
: elements in the present financial an
industrial situation of the country. In
n deed, one of the strong arguments fo
j. assuming control of the railroads 3
fl this time, is the financial argumen
l. It is necessary that the values Of raj
n way securities should be justly an
r. fairly protected and that the larg
r. financial operations every year nece'
1t sary in connection wit hthe maintel
n ance, operation and development
IN the roads should, during the perie
S. Of the war, be wisely related to tt
Of financial operations Of the govern
ment.
w Our first duty is, Of course, to co
D. serve the common interest and tt
is common safety and to make certa
ut that nothing stands in the way Of II
all successful prosecution of the gre
n war. for liberty and justice, but it
fl also an obligation of public conscien
m and Of public honor that the priva
ew interests we disturb, should be Ike
safe from unjust injury, and it is
be the utmost consequence to the cover
ice ment iself that all great finance
ms operations should be stabilized a
os- co-ordinated with the financial ope
is alton Of the government. No borro
to ing should run athwart the borro
lie ings of the Federal treasury, and
tic fundamental industrial values shot
of anywhere be unnecessarily impair,
ese In the hands of many thousands
lad small investors in the country, as W
=, as in national banks, in insurar
e companies, in saving banks, in tr,
~ companies, in financial agencies of {
e. cry kind, railway securities, the ST