The Topeka state journal., 1919-11-10
PLUMB EXPLAINS PLAN
Declares Govt Operation Railroads
Would Mean Lower Living Costs.

His plan for the government owner
ship OF railroads was explained to
more than 1000 persons Sunday af-
ternoon in the city auditorium by
Glen E. Plumb. who came to Topeka
at the invitation of local union men,
Plumb's plan provides for the pur-
chase of the roads by the government
at price to be set by the courts. The
United States treasurer would issue
bonds of such denominat ationS and at
tractiveness as would assure their sale
at par TO liquidate the debt The
present wage scale would be main
tanned. A budget would be made up
covering the operating expenses No
would be governed by a board of di-
rectors, one-third to be appointed by
the president with the approval OF the
senate; one-third be selected by the
officials and one-third by the en-
ployes.
Plumb declared such an arrange
ment would strike the high cost of
living a severe blow and assure
cheaper transportation. Huge sums
would be saved in the elimination of
huge profits. he said.
The speaker declared the present
alleged valuation of the railroads
! s20. .oO0. 900, ,0O0-is double their ac-
tual value. The 196,00O,000 acres of
creased to 36.000,O00 acres and in
| most cases this is valued at five times
the price of the land around it, Plumb
said.
IF the railroad employees can by
increased efficiency, reduce the cost
half the saving shall be divided among
them and the balance shall be re-
turned to the public This balance
shall deduct from the next annual
budget.
Because of this plan" said Mr..
Plumb. people call me Bolshevist.
But when they do L know it's the only
argument they have left
The Plumb plan is said to have the
complete endorsement of all organ
employees, 100000 members of the
A. F. of L. and 100000 others
DR.. c. B. Hope. whose guests Mr..
and Mrs. Plumb were while in Topeka,
presided. Rev. DR.. E. J. Ku1p, pro-
| nounced the invocation.
Why the Plumb Plan.
Under the above caption. the Plumb
Plan League, of Washington, issues
| this statement:
The railroad gamblers in Wall Street
! New Years present of eight billion dol
| lars. The railroads have watered their Sc
curities by this colossal sum- They now
\ demand that your government and mine
shall recognize these fraudulent securities
as bona fide and place them as mortgage
| your children's children. in perpetuity.
| This is easy money-isn't it?
This is the steal that Wall Street is
| The railroads of the country are worth
| from $11 .OO0. 100000 to $4,000, 100000 That
| that is what they are worth today accord
7 ing to the stock quotations on Wall Street.
! The Interstate commerce commission has
! been yalutng railroads under the La Fol-
| lette bill, and from the valuations thus
! far completed the railroads are worth
| about $12.O00.000.OO0.
| But the railroads are claiming n value
| of $50, 600 900. They are demanding that
| congress shall recognize the fictitious
| watered securities and insure the owners
| minimum of 6 per cent interest upon
| them. This is the main purpose Of the
bills introduced into congress by the rail
| way owners.
I'm other words. they demand that the
| workers of America. the farmers of Amer
! lea. the manufacturers and producers of
America, shall pay them minimum in in
| terest charges OF $1,000. 5000 q year. If
demand 81 100000. The government Is
now paying the railroads $500 600 .000
rental. This is from s3OO,OoO,Ooa to $780,
/ Under the Plumb plan. congress would
| pay the railroad owners for every iegiti-
| the railroads valued by the courts and is
sue government bonds to the owners for
the value, as fixed; ,l These bonds nd would
| upon the people would be from 500, ,O00, ,0O0
to oo,Oo0.oO0 a year,
"The railroad brotherhoods have as
| Plumb plan would save the workers, the
consumers and producers from 5000. 900 .0Oo
/ to n billion dollars year in interest
| charges alone. 1t would save it for re-
| duced freight and passenger charges, for
| increased wages, for improving the rail-
way service, for cutting down the cost of
| living.
| Organized labor is the only organized
| force that is fighting this steal. Organ
lied labor Is fighting for you. for the
! farmer, for the manufacturer, and for 11e,-
| 100000 people.
No people have ever vet voted them
rai1ro,J ou-nsrs o-o nronnsfn@ .r5 = 10 - @
gress is considering the proposal without
n protest. Had 1t not been for the Plumb
| Plan League the bill would have been we'll
| on the way to passage. As railroad at
| torney put 1t, The Plumb plan has tor
| pedoed us completely"