Richmond times-dispatch. [volume] (Richmond, Va.) 1914-current, 1919-08-08
PLUMB SAYS QUICK
ACTION IS NEEDED
Declares Feeling of Unrest Is Ac-
centuated by High Liv-
ing Cost.
EXPLAINS RAILROAD PLAN
Asserts Would Squeeze Six Bill
lions of Water Out of Trans
portation Stocks.
EXPLAINS RAILROAD PLAN
Try Awncia,.d Press /

WASHINGTON, August 7-Warnins
that the laborinE mar has reached that
point where his activities may cease
because he cannot much longer stand
the diminishing return for his work"
was expressed today by Glenn T.
Plumb. counsel for railway brother
hoods. in urging enactment by Con-
gress Of a bill drawn by him for pub
lie ownership of railroads
The gloomy view Of conditions was
given by Mr Plumb near the close of
fve- hour appearance on the witness
stand. during which he charged sys-
iematic ,piundering of the transport "a
the Plumb plan for solving railwa V
evils at this time in order 70 link it
which, the nations attention has
turned.
Had Heard OF Rumors.
Mr.. Plumb apparently was cognizant
Of The, rumors sweeping through the
Capitol tina; ne had picked an unusual
~ propitlouS time for presenting his
bill; which organized labor has elaine d
,nro,ie TiI1 help Put down The living cost
elimination Of private capital from
every transportation company in the
Except for the invitation from Chair
man Esch. of the House Interstate
Commerce Committee, conducting
troll, the Plumb plan he said would
not. have seen the light of day until
early fall.
But ii was while speaking through
the country in its behalf the witness
declared. that he found an overwhelm
ing ing eentiment In behalf of the change
! troll. There was no doubt. he said
of great industrial unrest. due TO the
an explanation of his statement that
he would not be surprised TO see any
thing happen. the witness said this did
not mean hating OF business activi-
ties, great destruction of industry or
cata clysm. but the feeling in the
minds of millions of workers was that
something had TO be done quickly in
their behalf.
Threat Is Accentunted.
The feeling of unrest" he declared.
with earnestness. lis accentuated by
this ever-rising cost of living. and the
necessity of finding some way to meet
There was no other references. eY-
durns ihe 20 taf 9eod ips' pub
devoting practically all of his time 10
explaining his DILL. section by section.
ganized labor toward pending railway
problems was given the committee in
answers by the witness to series
OF questions asked by Chair;man Esch.
Plumb could say whether a majority
of the people stood for government
AT this time l. cannot say" the
witness replied. Il am assured that
great majority OF the people OF the
United states are so dissatisfied with
present conditions. and so turned
away from past conditions, that they
are rapidly coming TO the support OF
this plan for public ownership. They
will demand it.
Contains Untried Provisions.
Discussing the bill. the witness
frankly said that ii contained pro-
visions quite new and untried, and
that he was prepared to make changes.
In this connection he said it had been
called to his attention that the pro-
vision taking away from the several
States the revenue now derived from
the railroads was not right. He was
willing. he said. to change this, so
that the States would receive 10 per
cent less year until the point was
reached in ten years when they would
receive nothing.
Mr.. Plumb said. in answer to an in
| quily that under his plan the rail-
roads would be liOuidated and holders
I of securities would get &c c-3 per cent
Of their value. Six billion dollars in
fictitious values. he said; would, be
squeezed out. which he described as
the elimination of that which had
| already vanished" Even then. he
contended. holders of stock would get
! exactly what they would if their hold
! ings were put on the market today.