The Colfax chronicle. [volume] (Colfax, Grant Parish, La.) 1877-1981, 1918-01-12
PRESIDENT TELLS
WHKU. s.. SHOULD
OPERATE ROADS
10 GUARANTEE PROPER RE.
TURNS TO ROADS DURING GOV.
EMINENT OPERATION.
NO UNNECESSARY CHANGES
Should First Consider Transportation
OF Troops, Materials, Food, Fuel and
All Thin9s Necessary For Mobili
zation of Resources of Country.

Washington.-President Wilson laid
before Congress, assembled In Joint
session, his recommendation for car
rying out government operation of
railroads. Bills to carry out the presi-
dents idea already had been prepared
under the supervision of the depart
'mant OF justice and were Immediately
introduced with plans for prompt con-
sideration in both House and Senate.
To guarantee proper returns to the
roads during the period of government
operation, the president recommended
that Congress provide compensation at
the rate of the same net operating in
come as the roads have received for
the three preceding fiscal years.
To provide for proper maintenance
OF the roads and their return to own
ers in the same order as the govern
ment takes them over, the president
. recommended legislation to authorize
their upkeep and betterment during
the period Of Federal operation. Legis.
lation to this effect is all contained
in tho administration bills, which
would appropriate a $500, O00, 900 fund
for government operation.
Only By government operation, the
president told Congress, could the
unity necessary to the country be OBJ
tanned, and he added that existing or
gaEfzstions OF the railroads should be
disturbed as little as possible.
Guarantees To Roads.
The president lai1 especial stress
.on the guarantees to the roads and
their stockholders, saying on that
point:
II need not 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 arguments for
assuming control OF the railroads at
this time is the financial argument
IT Is necessary that the values Of rail-
way securities should be justly and
fairly protected and that the large
financial operations every 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 finan.
'cial operations OF the government.
To Conserve Common Interest.
Our first duty is, of course, to
conserve 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 1t Is
also an obligation OF public conscience
and Of public honor that the private
interests we disturb should be kept
safe from unjust injury, and II Is of
the utmost consequence to the govern
ment itself that all great financial ope-
rations should be stabilized and CO
ordinated with the financial opera
lions of the government.
mo borrowing should run athwart
the borrowings Of the Federal treas
ury and no fundamental industrial
values should anywhere be unneces-
varily impaired. In the hands of many
thousands of small investors In the
country, as well as in national banks,
in insurance companies, in savings
banks, In trust companies, in financial
agencies of every kind, railway securi-
ties, the sum total Of which runs up
TO some ten or eleven thousand mil
lions, constitute vital part OF the
structure of credit, and the inquest.
toned solidity Of that structure must
be maintained"
The president spoke as follows:
Gentlemen Of the Congress: l have
asked the privilege Of addressing you
in order to report that on the 2Sth OF
December last, during the recess Of
Congress. acting through the secre-
tary Of war and under the authority
conferred upon me by the act Of Con-
gress approved August 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 inter
est of the public welfare, in the pres
ence of the great tasks Of war with
which we are now dealing.
"As our experience develops difficult
ties and makes it clear what they are,
/ have deemed It nv duty to remove
those difficulties wherever l have the