The daily Gate City and constitution-Democrat. (Keokuk, Iowa) 1916-1922, 1920-03-22

THE loan which is to be made, the time, not ex-
feeding five years from the making thereof
within which it is 10 be repaid, the character OF
the security offered. and the terms snd eoRsil-
I lions OF the loan. The secretary OF the treas
ury is authorized ST any time before the exp
nation OF twenty-sIx months after the ferUii-
nation of federal contro. 10 make loan not ex-
cee.iing the maximum amount recommended In
the certificate out OF any moneys II the revols-
ing fund of three hundred million dollars pro
ivided BY the section Such loans saall bear IN
terest at the rate ot,six per cent per annurn s-
lie placed to the credit OF the revolving fund,
The secretary OF the treasury shall prescribe the
time. not exceeding i've years from the masking
thereof. within which such lozn Is 70 be repaid
the security which Is 10 be taken therefor, the
terms and conditions OF the loan and the form
/ Of the obligation TO be entered Enso
II the commission acts promptly and Is TAN
In lis decisions the nation viii be- benefited 10
an incalculabls degree Ii Il fails 10 exercise
! its power with Judgment the people Will nave
sufficient reason for demanding . wholesale
cleanup OF the board Congress virtually told
it that the public has had sUrfeIt OF govern
rent operation OF the railroads and the sections
lot the law relating TO rates were 80 worried IS
Ia provide fair and definite return III the
value of the property. Yet so much was 1eees-
sarily left 10 the discretion OF the commission
that il is too early to forecast the results Of new
Legislation.
! The statistics Of the past three years offer ut
| tie help in determining a scientific system OF
rate making. The partially completed vain
alton work that has been going on for several
years, does not meet the requirements OF the
situation Government extravaganza and IN
efficiency have placed the railroads at dlsad-
vantage. Increased compensation is lndlspens-
able to the successful operation Of the roads, and
there should be no delay on the part OF the
commission in seeing that the carriers have the
margin of profit that must be shown before
money for extensions and other Improvements
can be borrowed.
The first thing to be done is to assure invest
ors that the money put into the railroads will
not be confscated through the fixing of rates
that will barely cover the costs OF operation
IA statement from the commission to the gen
icral course to be followed during the next four
or FIVE months would be Of great value to the
railroads, to investors and the public.
| In time of emergencies there is such thing
| as too much scientific research The immedi-
ate need. is for schedule Of rates that will con-
vince investors of the fairness of the govern
Iment Minor inequalities be adjusted at
leisure; the benefits to. be had by an llumlnat-
ing declaration of a policy Of promptness and
| judicious liberality far outweigh any temper
arv inconvenience to which few shippers may
be subjected. y
| Private ownership and management of the
railroads is bound to be successful it the fed
ieral bureau makes wise use of its authority. The
commission, therefore, on trial at the bar OF
public opinion.
Governor Riggs, of Alaska, is in Washing
ten to confer with congress on the possibility OF
opening Alaska timber reserves. Alaska is
more than willing to do her part in furnishing
pulp for paper Sheehas immense forests and
in them is a great supply of pulp woods She
has water powerfor mills. But she has neither
the governments permission to open these re-
serves to industrial uses nor money to provide
the transport means to put lumber industry
On proper footing to be profitable. The pulp
wood industry in Alberta, Alaska's Canadian
neighbor, is great and growing one. Why
Alaska cannot do as well is not apparent. We
are getting slowly started at forestation and re.
forestation. If Alaska can help in the interim
it will be boom .@a !
Note the minds that run along with mine. y
Bryan, Garrison Lansing, Lane Redfeld, not
to mention McAdoo, have gone from the cabl
net and they, except for son-n-law, themselves
have said enough to show that their minds did
not travel parallel to Mr.. Wilson's. Baker,
Daniels Burleson are still keeping to the course