The Wisconsin weekly blade. [volume] (Madison, Wis.) 1916-1925, 1919-08-14
SHIP STEAMS UP HARBOR BE
TWEEN LINES OF SHIPS IN
GALA ATTIRE.
Crowds So Dense Program For Re-
ccption is Changcd--Officials
Greet Him.


As the Dragon and its escort the
Dauntless. steamed slowly up the
inner harbor between two lines OF
craft in gala attire. they were greet
cd by cheers OF thousands and the
booming of guns.
The crowds in the city we're so
dense that the program for recep-
ton of the prince was radically
changed at the last minute He oc-
cupled a seat IN coach with Gov.
Harris. The coach, drawn by a pair
Of black horses. was nanked by
Newfoundland mounted constabu-
larry. The officers of the prince.
personal suite followed in other
coaches.
Motors were not permitted In the
procession because OF the conSosted
condition OF the streets.
torted statements and half truths
that are current.
The owners OF securities OF the
principal railroads have nothing
to fear from any fair inquiry into
the value of properties. The rail
road investments Of this country as
n class arc certainly as clean as any
other form Of Investments.
RAILROAD FINANCE HONEST.
Vastly moro money has been
made by the people who have fol-
lowed the construction OF new rail-
roads and land and industrial op-
portunity, than has been made by
investors in railroads The records.
on the average. have not been ex-
ccssive. measured by the returns up
on other investments
There have been INSCRIPTIONS
promoters IN railroads as in other
lines OF business. but the stock
holders have suffered most from
them The great body Of railroad
financing has been honest and
sound on the whole and the public
has received full value and the best
service IN the world
FOUR PER CENT. is SMALL.
THE idea that the government
can borrow IN billions NJ dollars at
four per cent. under present condi-
tions IS a mistaken one. With only
a small public debt az formerly,
government bonds free Of all taxa -
ton were IN demand by a small class
OF investors at low rates That
proves nothing as to the ability to
float great loans
Let anyone ask himself how
many people he knows who wants a
four per cent investment II would
he uni Just and practical reputation
for the government, after ascertain
ing the fair cash value OF railroad
property. 10 forcibly take Il over for
government security which would
not bring it's faes value on tho pub
lie market According to the arrli
mont OF the railroad men in their
own behalf, money has so derreci-
ated that four per cent on given
sum is no more than two per cent
five years ago
NEED CANDID DISCUSSION.
This is not a matter which di-
rectly concerns commercial banks
80 much as it does savings banks,
life insurance companies and pri-
invested in good faith r. rairoa 4
securities should have Just treat
mcnt. Moreover, II is ncccF Fsary that
the present holder shall be treated
IN manner which will not repel
investments in the future because
vast sums must be had continually
10 keep the railroads up 10 the pres
ent needs Of The country.
"QueStions Of TINS kind cannot be
settled by ex-parto statements on
either side. They must be thrcahcd
ont IN fair candid discussion and
ScttIoa with "a desire to deal Justly
Neither side can claim the right 10
be tho sole Judge OF its own case
and that IS the first question 'c be
settled
~ ia not a time for hastv aruon
or r." any experiments whicn will
tend 10 prevent tho speedv revival of
confidence and industry The world
rs short of the common necessities
OF life and that is the first situation
30 be dealt with"