Evening public ledger. [volume] (Philadelphia [Pa.]) 1914-1942, 1920-09-01
THE WAR-WEARY RAILROADS
ARE MUSTERED OUT TODAY
They Are sadder Than They Used to Be
and We Should Hope That They
Are Wiser, Too

with something of the nervous fear that or
dinarily afiicts men who are turned out
into the open after long periods of contine-
mcnt.
The scenes have changed pretty often Tor
the railroads The Esch Cummins act, pre-
sumcd by experts to be chiefly in the inter-
est of the public, legalizcs most of the prnc-
tices that were forbidden in the Sherman
anti trust law. The Sherman law was the
aftermath of the trust busting fever. 1t was
hard and in many ways unenlightcned, but 1t
was rctribution in a novel guise. Under 1t
q good many corporations paid for past and
forgotten sins.
The Interstate Commerce Commission
made life even harder for the railroads in
tie first years of its authority. The public
had come to look upon every utility corpora
ton as an enemy and Washington succumbed
to the contagion of common opinion. So the
rail lines were down at the heels when the
war began.
Under the system of government control
investors were guaranteed return HpproXi-
mating 6 per cent on their money The over
head costs were paid out of the national
treasury.
Now, under the new transportation act, the
government and the rail companies are again
free The roads, however. are guaranteed
rates which will pay all operating expenses
and minimum of 5ih per cent to holders
of securities. II is commonly supposed that
Congross took prctty good care or the rail-
roads when the new law was made. Yet
years Of costly experience has taught the
country that Congress would have been
blindIy stupid had it permitted the rail lines
to sink deeper into poverty or be over
y.,oInrd hv tho consrnucpccs of rast errors.
Tho roiIroods oro thE ncrvcs Of tho country.
I.no, tboir bc,Itb dcocpds the economic
rnni.L orI streryth nor onlv Of thc nation
49, ~ oil ;ts inLividroI communities.
If fftnon vcars ogo. tho trust busters and
1oton Corrross itsoIf wcro not dismissed TO
tnIa ,bis r;o,, of tho recommendation systcm
tLo,. orl, follovad cvomnIcs nrovi,lc1 nv
anoo+ r,o,y ~ tho cornor,tions themselves
SSa;I,.o.. oI,.rors ,,.oro NOT tbcu in tbo hohit
80 oo,Silerir, the social nature of their
obI;gotions
Tho nrivurre granted to railway com
nonics and thc function of trarsport sys-
tc,Dg of all sorts are such as to make il
onparcnt that n right of way is not a thing
aIone, Years of mauling by unScicntifc
schemes of regulation and restraint pre-
coded the dawn of reason in Washington
and In railway board rooms. Rail owners
and nromotcrs once were not content with
the returns from a legitimate TRANSPORTATION
business They sought and perfected mcrg-
crs and alliances with coal companies end
iron companies until they were in a way to
obtain absolute control of some of the basic
necessities of national existence.
Some of them got deeply into potics
l., N,J ,,-k; H.,
lines like the Pennsylvania and the Reading
were being accused OF unwhocsome med
ding at Washington and Harrisburg aud
with the deliberate restraint of trade they
managed TO set new high standards of rail
service in many of their departments For
the exclamation of much that railway cor
porations have done in the past it might be-
,ycl to remember again the experiences OF
James ]. Hill. who, when he was building
th- Great Northern and doing q service Of
N"t'uh", t"po' '"N.,' vs. "S' s .i o 'N"o" !
Oh. " c't"I "."' .t., L,o ,,.
point Vi lo''rlS"' , UH'o, " TUT @
'"'!'''"t,to'e 'I,tt' - H.
WAS ~ po''IS1' va ,i o. i,,I Va '"0'' "No
were u'"so'u IN "e''"'N '"''' ""''
In any HHul ANA. S'S II ID "PP"fen' .'."'
fAe ialilhsS OIL corPoFa''onS are h"'lun '"'
'Iss' kaI'Way director" ana eNe'ul'H'S "t'
'cptrd the cthi'"t stahaaF"S common III '',c'F
times and nN" o'aer hu'Ann DelhsS' 'A'y
were to large degree the creatures o'
| tnc!r general environment. 1t Is logical to
supposc that most OF them Will be s'ad to
| have new start III clearer and ialrcT
| field.
The railroads are beginning life all over
ngain uuucr conditions that cannot by any
! urCtch Of the Imagination be called unfaYor.
able. They are virtually guaranteed against
losses, The government has provided a re-
voIving fund from winch they may borrow II
| emergencies. Here surely Is some atone