The Fargo forum and daily republican. [volume] (Fargo, N.D.) 1894-1957, 1918-01-04

otto zeal and marked ability. as was
to have been expected. and did.
believe, everything that It was pos.
sible for them to do in the circum-
stances. II have taken the task
out Of their hands, 1t has not beer
because OF any derellction or failure
on their part but only because there
| were some things which the govern
ment can do and the present man
| agement cannot. We shall continue
to value most highly the advice and
assistance of these gentlemen and
am sure we shall not find them with
| holding 1t.
at had become Enthusiastically
plain that only under government
administration can the entire equip
| ment OF the several systems Of trans
| portation be fully and unreservedly
| thrown into a common service with
out injurious discrimination against
particular properties. Only under
government administration can alb
/ solutely unrestricted and unem-
| barrassed common use be made of
all tracks, terminals, terminal facii-
| tiles and equipment of every kind.
Only under that authority can new
terminals be constructed and devel-
oped without regard to the require
ments or limitations Of particular
roads. But under government ad-
| ministration all these things will be
possible-not instantly, but as fast
as practical difficulties, which can
not be merely conjured away, give
way before the new management.
Only Necessary Changes.
The common administration will
be carried out with as little disturb
ance of the present operating organ
izations and personnel Of the rail-
ways as possible. Nothing will be
altered or disturbed which It is not
necessary to disturb. We are serv-
ing the public interest and safe
guarding the public safety, but we
are also regardful of the interest of
those by whom these great properties
are owned and glad to avail our
selves of the experience and trained
ability of those who have been man
aging them. 1t 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 ener-
gtes and resources of the country,
should be first considered, but IL is
clearly In the public interest also
that the ordinary activities and the
life OF the country should be inter
fered with and dislocated as little
as possible and the public may rest
assured that the interest and con-
venienoe Of the private shipper will
be as carefully served and safeguard
ed as IL is possible to serve and safe
guard 1t In the present extraordinary
circumstances.
Guarantees Needed.
while the present authority of
the executive suffices for all pur-
poses Of administration, and while,
OF course, all private interests must
for the present give way to the pub
lie necessity, ii is, am sure you will
agree with me, right and necessary
that the owners and creditors of the
railways, the holders OF their stocks
and bonds, should receive from the
government an unqualified guarantee
that their properties will be main
tanned throughout the period OF fed
eral control in as good repair and as
complete equipment as at present,
and that the several roads will re-
ceive under federal management |
such compensation as is equitable |
and Just alike to their owners and !
to the general public. would sug- |
gest the average net railway .operat- !
ing income Of the three years ending |
June 80, 1911. earnestly recommend |
that these guarantees be given by |
appropriate legislation, and given as |
promptly as circumstances permit.
Il 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. |
Indeed, one Of the strong arguments |
49, -
at this time is the financial argu-
ment: It Is necessary that the val ]
ues Of railway securities should be /
Justly and fairly paid and that the
large financial operations every year
necessary in connection with the |
operation and develop
ment Of the roads should, during the
period of the war, be wisely related
to the financial operations of the
government. Our first duty is, Of
course, to conserve the common in
terest and the common safety, and
10 make certain that nothing stands
IN the way Of the successful prose-
sutton of the great war for liberty
and justice, but 1t is an obligation Of
public conscience and Of public honor
hat the private interests we disturb
should be kept safe from unjust in
Jury, and 1t is OF the utmost conse-
Iuence to the government itself that
Ill great financial operations should
be stabilized and co-ordinated with
he, financial operations of the gov
srnment. No borrowing should run
lthwart the borrowings Of the feder-
u treasury, and no fundamental tn-
iustrial values should anywhere be Il
unnecessarily impaired. In the hands
II many small investors in the coun-
ny, as well as In national banks, in.
,urance companies, in savings banks,
n trust companies, in financial
,gencies of every kind, railway Sc
.urities, the sum total Of which runs ,
~ to some ten or eleven thousand
constitute a vital part Of
he structure Of credit, and the un-
Questioned solidity Of that structure
must be maintained.
Choice of McAdOo.
The secretary OF war and easily
greed that in view. of the many
afeguarded and haFmonized, as we'll
8 because OF his exceptional expert
nee and ability in this new field of
governmental action, the Hon. VIII
lam G. McAdoo was the right man TO !
ssume direct administrative control
( this new executive task. At our
equest, he consented to assume the
and duties OF organizer and Z
of the new railway
administration. He has assumed those
uties and his work is In active
rogress.
cit Is probably too much to expect 7
hat even under the unified railway
which will now be
ossible, suffietent economies can be Z
mected in the operation of the rail-
Dads to make IL possible to add to :
heir equipment and extend their OPP Z
rative facilities as much as the pres z
Sc will render desirable without re- I
0rting to the national treasury for 7
he funds. If II Is not possible, IL I
ill, OF course. be necessary to resort T
} the congress for grants OF money | 4
Dr. that purpose. The secretary OF 4
will nNwgua NTH xpntrgs I =