Fulton County tribune. (Wauseon, Ohio) 1883-1925, 1919-09-19
A CITIZENS POINT OF VIEW
Mr. W. C. Williams Accepts Invitation of Congressman
Thompson to Express Views on The Plumb
Plan of Matchmaking The Railroad

The more prosperous the roads are
as going concerns the more debt they
are able to carry and the records
abuI4antls show that all the traffic
would bear, has been the only limit.
Would any citizen or legislator con
slider his property well managed if
an increase in business and larger
profits resulted in more deeply involv-
ing his estate?
Realize that people shrink from
making any change fearing that
disaster might result. Disaster is
sure to result eventually if tie pre-
sent system is followed. We have
tried government control ever since
the Interstate Commerce Commission
commenced to function and the last
two years of that control would soon
be sufficient to convince a person of
reasonable intelligence that the con-
troll Of property belonging to the
other fellow when that property has
to do with public interests is univer-
sally managed in the interests of the
owner and rarely for the public good.
The dividends paying stock and the
bonded debt of the railroads is about
eighteen billion dollars. This would
absorb every dollar of the tangible
property without doubt. The interest
on that sum at government bond rates
Az per cent would be 80 million dol
lars. That is less than we are now
paying for the use of these roads.
The fellows who hold the dividend
paying stock are the only ones that
should be considered in this transac-
ton since there is no tangible value
behind the other issues.
Cannot understand how the owner
ship of our transportation system
would decrease our debt paying power
The railroads are now securing a
: much higher rate of interest on their
investments than we got from gov
ernment bonds owing entirely to the
: greater risk attending such an invest
ment under the high finance methods
that has characterized that class of
securities. The people are the goats
paying the entire cost of the trans
action and the added interest as well
The question resolves into tn s
: Are we to decide that the transporta-
J Of ic fn he
e presided over by self appointed guar.
dians amendable in no sense to the
public welfare, whose entire financia
!. interest would be to make the costs
t of transportation more instead of less
t who would maintain at the source ol
e power gifted pleaders for specla
t privilege, obtaining thus favors de
S trimental to society at large or shall
d we insist that transportation shall NO
d be cotrolled by those having financia
n interests therein nor be made th'
d football of high finance as at presen
but must be directed by men selected
e for their efficiency and regard fo
d the public service.
S But under the Plumb plan or gov
e ernment ownership under any othe
n plan it would get into politics. M,
o friend it is now and always Will b
n under government control in polite
= while owned by individuals of cor
t. poration, they are maintaining train
n ed advocates to urge their demand
le upon the public before our Legislators
sr It is an extremely rare case when tn
'3 public has friend at court who wi
/ resist their demands.
'e W. C. Williams
e. Gibsonburg, Ohio