The Topeka state journal. [volume] (Topeka, Kansas) 1892-1980, 1920-07-22
RAILROADS AND PoLIrICs.

L
THE railroad question:" says Otto
H. Kahn, in his new book. ''Our Eco
nomBc and other Problems must be
taken out of politics" Perhaps few
l4AmeEicans are as well qualified to
speak on this problem-to point out
existing abuses and to outline a con-
structive program. For Mr.. Kahn
speaks with authority that is based on
long practical experience in the world
of finance. A member of the firm of
KAHN, Loeb & Co., Mr.. Kahn has for
many years been instrumental in
broadening their interests In his con-
nection with this firm. he became the
intimate friend and close business as
socate of that railroad genius and
financier. the late Edward H. Harri-
man. It is reported that Theodore
Roosevelt. ten d"ys before his death.
said. The soundest economic thinkins
/ in this country today is done by Mr..
Kahn"
TT was the right instinct" says Mr..
Kahn, which guided the people, I'M
der President Roosevelts leadership, to
determine that the time had come to
regard the pioneer period of this coun-
try's industrial and economic develop
ment as at an end. to revoke the lati-
tude which had been tacitly accorded
during this period, to insist on strict
adherence to the rules. of business con-
duct laid down by the law. and to pun
ish amy violation OF such rules, by
whomsoever committed, high or low
Il was salutary and timely to bring
home to corporations and individuals,
however powerful, the respect and
lear due to the law and to use all
means at the governments disposal to
visit upon dishonorable practices con
dign punishment"
Mr.. Kahn arraigns the inadequacy
of the law under which the interstate
commerce commission works, insisting
that to his knowledge there is no par
alel in any other country to the en-
actment which places our greatest in
dustry, down to it's minutest details.
under the almost absolute power of
seven men owing defined accountable
ity to no one, selected for relatively
short terms and according to no par
tieuIar standard of training or quail
ficatiens.
The interstate commerce commits
sion" he says. being at the same time
prosecutor. Judge and jury, may as
suredly be termed a negation of the
root principle from which the Ameri-
can system of government springs"
Speaking of the relative advantages
and dangers of privately owned and
government owned railroads, Mr..
private management and permanent
government guarantee of earnings, are
simply not reeoncilable. The railroads
/ cannot eat their cake and have it,"
| Practically all railroad men recog-
nize that thoro public regulation is
| inadequacy of the law under which
the interstate commerce commission
works and the multiplicity of masters
under whom the railroads have to
serve, that constitutes their main
grievances and that cries for reform.
! ION this commission, which has great
er power concerning the industrial
/ life of the nation than is exercised by
probably any other tribunal anywhere
| in the world" he concludes, there
has never yet been appointed a man
who came to it qualified by first rate
experience in railway operation or by
broad business experience, or any con-
siderable experience in financial mat
ters."