New-York tribune., 1919-12-26
The Anti-RaiIroad Obsession

The Entl-RalirOad ObseSSIOn
On Wednesday the President
postponed for two months the NOM
inal return Of the railroads to the
owners. This action was wise. In
the absence of legislation making
the retransfer feasible, such delay
was unavoidable. Ii is symptomatic,
however. Of the extraordinary and
abnormal state of mind regarding
the Administration into which the
country has drifted that doubt
existed as to the likelihood of post
ponement by the President.
In The Tribune's Washington
dispatches yesterday this paragraph
occurred:
The Presidents proclamation
came.as q great relief to members OF
They had been gravely apprehensive
that the President would return the
roads at midnight on December 81,
With the two houses of Congress
still trying to settle theil differences
over adequate legislation for the re
.urn Of the transportation lines to
operation under private ownership.
More than one-half of the railroad
systems of the country would have
been forced into bankruptcy within
two months if the President had not
extended the period of government
control and operation, the railroad
owners fearcd.'
This peracraNh reflects uncon-
sciously, and therefore all the more
sincerely, a feeling which has taken
aold of the public. That the Ad-
ninistration would be protecting
,o,h itself and the public by MAX
.ng cascr the Transition from
ublic to private operation is
,eyond question. But that che Ad-
ninist1ation should under any CIR
eumstances extend grace to the
transportation industry has come to
excite wonder in many quarters.
In its dealings with the railroads
The Administration has been injuri-
ously Influenced by inherited ideas.
The passion Of railroad haters has
subsidized. But its after effects re-
main For generation the rail
~oad industry has hcen subjected 70
punitive discipline se.h as no
o.hcr Great i-..es.sr las ever had
20 suffer from
There is . stock saying on the
stage: "Nobody loves fat man.
If the railroads we're once fat, they
have now grown lamentably thin
Yet nobody loves them. They are
still singled out to sit on the stoo
of repentance.
This discrimination extended ever
through the war period. In every
other industry large profits were
tolerated But though the road:
we're taken over by the govern
nent, they were not allowed to carr
.heir way, their annual deficit.
on operation being mot out Of the
Treasury The excess profits law
Was constructed to catch part ol
the over-carnings of other indus
tries. 1t took nothing from ths
railroads, because there was moth
lrg to take. In Il period of enor
nous imitation, rising prices ant
swollen profits railroad securitie.
nave fallen in value because tn,
industry has been kept artificiall,
on non-remuuerative basis.
Is ii any wonder that people ar,
skeptical about change in pole,
toward the transportation interests
Senator's and Representatives doub
heir own ability 10 rise superior t,
he old obsession that the railroad
ought to be treated with severit,
which CONGRESS- wouldn't dream o
applying to farming, or planting
or mining, or manufacturing or /,
banking.
All that the owners of the rail
roads now expect is n mitigation O
heir harsh and pathetic predica
Ment The Cunmins railroad biz
IS step toward saner polio,
of regulation Under its provi
sions the transportation industr,
will stu be treated as step
daughter on probation. But that i.
something. A faint hope is encour
aged that the railroads may once
more enter the circle of industrie:
recognized as meritorious and en-
titled to recognition for the eco
nomic service which they perform.
For many Industries We keep {
protective tariff in force. Congress
is willing to levy taxes in order tc
develop the possibilities of these
enterprises But it still has scru.
pies about granting even a fair liv-
ing chance to the transportation
industry, which, under adverse cir
eumstancess Is giving cheaper ser