The labor world. [volume] (Duluth, Minn.) 1896-current, 1919-11-01

judicial procedure, and we don't at
tempt to say what shall constitute
value. We merely say the outstanding
private interests shall be acquired,
valued by court, and paiG for, but
nothing shall be included in that valu-
alton which is not covered by the
grant made by the c!larter-that all
values not covered by the charter
shall he considered as value. adherent
in the public interest retained for
which no compensation shall! be made.
In that way we acquire the proper
ties.
1T can be done in five minutes, and
that is not an extreme statement.
Government Can Take it.
"These are public highways in
government can take a public high
way property dedicated for public uses
by mere fiat and acquire possession-
pass law saying that on the first
day Of January title shall vest in the
United States; but it must provide
Tor compensation to be ascertained
and paid subsequently. So We could
obtain possession in five minutes, but
we couldn't do it constitutionally I'M
less at the same time we provided an
adequate constitutional forum with
adequate power to ascertain and de-
termine the value of the rights so
taken, and provide for the payment
Of that compensation as soon as as
certained. Now by that process we
have eliminated private ownership.
We have substituted for the present
individual owners of stocks and bonds
issued by railroad corporations an
other set of individual owners of gov
eminent bonds. See what we have
done. We have created on a class of
security holders whose status is fixed.
There is no longer left in congress
any power to grant them any privil-
lege to increase the interest which
they possess. and under the Constitu-
ton that interest cannot be dimin-
ished by any law that congress may
pass. That takes them out Of poll
tics, because capital only gets into
politics when it can acquire valuable
privileges. If there is no valuable
privilege to be acquired, it stays out.
1t also takes them out of management,
and that is a most important and ex-
cellent thing.
The Interlocking Interests.
II am now having prepared chart
OF the B. & o. railroad for use at the
next legislative inquiry this coming
week, wherein have the name Of
every director of the B. & o. railroad
and every official of the B. & o.
railroad, and opposite the name of
each director and official is the list
Of corporations and contracting con-
Germs in which he is privately inter-
ested, and opposite that the number
Of contracts for the purchase of ma
terials, the performance of work
which those various concerns have
entered into with the B. & o. railroad;
and every transaction of the B. & O.
Railroad company for years, from the
purchase of rails from the United
States Steel company and the pur-
chase Of locomotives down to the
building Of concrete sidewalks in lit
tie village in West Virginia, which
has been done through corporations
and contracting concerns in which
the officials of that railroad company
were interested personally and priv
ately.
Will Prevent Waste.
1T will be a very good thing to de-
prive these security holders of that
opportunity to waste the money paid
by the public for service; and under
our bill we provide that If any official.
any employe, any government en-
ploye. or any person connected with
the operation of railroads in any way
whatsoever shall receive any consid-
Grafton directly or Indirectly growing
out of transportation, the letting Of
contracts, the acquisition of property.
or in any other manner, he shall upon
conviction be fined 10 times the
amount of the consideration and i'm
prisened for term Of from one to 20
years, the term Of Imprisonment to be-
fixed by jury. -, :. :,> ~
Nov then we. have got possession.
We have eliminated capital from any
voice in the control of the proposition
We have got the public and the pro-
ducing element left-the two vital hu
man interests most closely connected
with transportation and distribution.
We provide for the operation OF