The Bridgeport times and evening farmer., 1919-03-21

My experiences of nearly 39 years, 23 on the C. B. So e., and in touch with the development of the country and railroad practice in the Middle West Il years on the Northern Pactf- ic, during which there was great growth in the Northwest and it's rail- roads, and years with the New Ha- ven. in the complicated and intricate New England transportation system, has led me to believe:
 Mir. ERiott's Views
 First: Government ownership, man agement and operation of the Ameri- can railroads is not for the best in terest of the nation.
 Second; Private ownership, with wise. energetic and honest manage ment and operation under suitable thorough and protective regulation will produce the best results for the country.
 Third: Regulation should be so ar ranged and directed as to preserve and encourage the initiative of the American citizen, to be prompt and responsive to changing conditions, but, at the same time, provide checks to prevent any unfair and dishonest practices by owners and managers, and also to prevent oppressive, un- reasonable and conflicting action by regulatory bodies.
 Those VttaIy Interested
 In considering this whole subject 1 have endeavored to do so not only from the point of view of one who has spent his entire business life with railroads, but giving due weight to the rights of 2,O0O,O0O or more employees, the rights of the travelling and ship ping public, and to the millions (pos- sibly 5O,O0O. 900 peOpIe) who are in terested either directly, as owners of railroad securities or indirectly. as holders of policies in insurance com panies, or depOsitOrs in savings banks, both of which institutions hold very large amounts of railroad securities. New Conditions Demand New Laws
 The Interstate Commerce Law was passed in 1887, so we have been going along under the plan and it's amend ments (tending more and more to re- strict the carriers) for more than 30 years, or nearly a generation. Since that law was passed new men and new minds have come into the business world and the social fabric of the na- ton. Not unnaturaIly. after 50 years, some defects have been developed in a
 
 opinion of people 30 to 40 years ago, and it has been found lacking under the conditions of today, and this is also true of restrictive and conflicting state laws and regulations.
 We talk about solving the railroad problem. Probably none of our great economic problems can be actually solved permanently. We can, and al ways will, improve on past practices and we should approach this matter with that idea in mind and not with the idea that an absolutely perfect plan can be developed and put into effect. Congress in it's wisdom, can surely take the accumulated informa- ton and the best thought obtainable on this impOrant matter and produce a law that will make better the pres ent situation and provide a basis, per haps, another 30 years of railroad operation during which period, no doubt, new men, new minds, and new conditions will make it clear that some other arrangement is more de- strable for the general welfare of the nation.
 While the problem is entirely one for the future, it is well to consider briefly some of the past history of the American railroads and the sys- tenn of regulation for what light such consideration may give.
 Private Ownership A Success
 Nearly all will adTait that:
 (a) The American railroad system has been created almost entirely by private enterprise and investment subject to Governmental regulation. 2
 (b) The railroads have furnished the people of the United States trans pertation at the lowest rates, paid