Weekly journal-miner., 1918-12-04
FEELS IT HIS B0UNDEN DUTY
 TO ATTEND CONFERENCE, U.S.EXECUTIVETELLSCON
Pays Glowing Tribute To Armed Forces Of America, And Expresses Views As To Part Government Should Play
 In Rsorganizing Business To An After-War Basis

than the immediate determination of the taxes that are to be levied for 1918, 1919 and 1920. As much of the burden of taxation must be lifted from business as sound methods of financing the government will per init and those who conduct the great essential industries of the countries must be told as exactly as possible what obligations to the government they will be expected to meet in the years immediately ahead of them.
 ''It will be of serious consequence to the country to delay removing all uncertainties in this matter single day longer than the right process of debate justify It is idle to talk of successful and confident business re- construction before those uncertain ties are resolved. If the war had con tinued it would have been necessary to raise at least SS,000,000OO0 by tax ation, payable in the year 1919, but the war has ended and l agree with the secretary of the treasury that it will be safe to reduce the amount to S6.OOO,OOO,OOO.
 An immediate rapid decline in the expense of the government is not to be looked for. Contracts made for war supplies will. indeed, be rapidly cancelled and liquified. but their inn mediate liquidation will make heavy drains on the treasury for the months just ahead of us. The maintenance of our forces on the other side of the sea is still necessary. A considerable proportion of those forces must re- main in Europe during the period of occupation and those which arc brought home will be transported and demobilizcd at heavy expense for months to come.
 "The interest on our war debt must, of course, be paid and provi- sion made for the retirement of the obligations of the government which represent it. But these demands will, of course, fall much below what a continuation of military operations would have entailed and $6,O00,000. 100 should suffice to supply sound foundation for the financial opera tions of the year.
 Railroads His Greatest Concern ..
 "The question which causes me the greatest concern is the question of the policy to be adopted towards the raI,A,Ir fra,,1-1,- 4A fAr counsel upon it. I have no confident judgment of my own. I do not see how any thoughtful man can have who knows anything of the complex itv of the problems It is a problem which must be studied, studied i'm mediately and studied without bias or prejudice Nothing can be gained by becoming partisans of any particular plan of settlement
 Tt was necessary that the admins ;ration of the railways should be talk cn over by the government so long as the war lasted It would have been impossible, otherwise, to establish and carry through under single di- rcction the necessary priorities of shipments. It would have been i'm possible, otherwise, to combine maxi mum production at the factories and mines and farms with the maximum possible car supply to take the pro ducts to the ports and markets; i'm possible 10 route troop shipments, and freight shipments without regard to the advantage or disadvantage of the roads employed; impossible to sub ordinate when necessary, all ques- tions of convenience to the public ne cessity: impossible to give the neces- sary financial support to the roads from the public treasury. But all these necessities have now been serv- ed and the question is what is best for the railroads and for the public in the future.
 Modified Control
 What is right that we should do with the railroads, in the interest of the public and in fairness to their owners?
 Let me say at once that I have no