The citizen., 1920-08-12


serve and the farm loan acts, encour-
agement has come 10 thousands who
ind that industry, character and In
telligence are a golden security TO the
peoples banker, the government Of
the United States Multiply our home
owners, and you will make the way Of
the seditious agitator more difficult.
Railroads and waterways.
"Any discussion a the question Of
food supply leads very quickly to the
closely related matter Of transporta-
ton. There In no one thing which
brings us 50 intermittently to critical
conditions than the insufficiency Of our
transportation facilities. Both the
railroads and the public are to blame.
There has been no material addition
10 the total mileage In the last ten
years, and the increase In terminals
the beginning Of the war the rolling
stock was sadly reduced and made
Quate. The public had not given In
pay for service sufficient revenues on
which credit could be allowed by the
banhs Moral assistance was withheld
because Of. railroad policies that did
not bring approval. Many Of these
corporations had made themselves a
part Of political activitieA local state
and natioral. Then there we're more
or less sporadie instances Of stock we-
tering operations, and the exploitation
Of utility properties for personal GAIN
~Abuses were Rot general but they
we're sufiicient to bring the entire rail-
road systems sf the country tp dis
repute. The good suffered with the
evil, When the transportation ltne,
were taken over BY the government.
they we're barely able to limp through
the task of the daK Unity IN opefse
tion, the elimination of the hong haun
and the mergipg Of every mile Of track
and terminal and every car and ei
gine into a co-ordinated plan Of op-
Grafton, enabled the government to
transport troops and supplies, at the
same time affording, under great
stress, a satisfactory outlet for our
industries. 1t should be remembered
In this connection that except for the
motor truck which supplemented
transportation by rail, and except for
the great pipe lines which conveyed
oil for commercial purposes, we
should not, In all probability have
been able to throw cur deciding
strength into the balance and win the
war. Any attempt to discredit the
federal operation Of railroads during
the years Of grave emergency Is un-
fair. In the case Of those who know
the facts 1t is insincere. Too much
cannot be said in praise Of those who
directed this work, nor Of the men
who physically operated the lines un-
der the discouraging conditions Of
poor equipment. But all Of this is
water over the wheel. The problem
government and the public should
render every cooperation In the ut
most good faith, to give thorough test
to private ownership. The railroads
have had their lesson. Government
regulation 10 accepted now as not only
. safeguard to the public, but as
q conserving process to the utility.
Financial credit Is necessary to ply
steal rehabilitation and It should be
sufficient for the periods Of maximum
demand We should not lose sight.
however, Of the vast possibilities Of
supplementary service by water The
Great Lakes and st. Lawrence navi-
CATION project, particularly. should
claim the interest Of the government.
Federal Reserve System.
"It is almost unnecessary to speak
Of the Federal Reserve system in con-
nection with the winning Of the war,
as, next to the conservation Of our
manhood and womanhood itself, the
greatest factor was the marshalling
into one unit through the Federal Re
OF America. To those Of vision who
look out beyond our shores into that
commercial domain where we are 30
Justly entitled to enter In & time Of,
peace. latent power Of the Federal Re
serve system can he seen promoting In
every quarter Of the globe an ever
widening fiow Of American commerce.
We will soon have q merchant marine
feet Of II. 900 900 tons aggregate. every
ship dying the American nag and
carrying In American bottoms the pro-
ducts Of mill and mine and factory and
farm. This would seem to be a guar
antes Of continued prosperity. Our
facilities for exchange and credit, how
ever, In foreign parts. should be en-
larsed and under the federal reserve
system, banks should be established In
important trading centsrs.
Reduction Of Armament
Fl an convinced after considerable
study Of the subject that the expense
Of the government can, without loss
Of efficiency. be reduced to q maximum
Of four billion dollars, including sink
Ing fund and interest on the national
debt. When we enter the League Of
Nations we should at the same time
diminish our cost for armament. To
continue expenditures In either the
war or the navy departments on vast
scale, once our msmbsrschip In the
League Is assured, would seem to be q
very definite refutation Of the advanr
tages Of the world plan which we be-
lieve II Possesses. An appealing funda-
mental In the League method, is the