The daily Gate City and constitution-Democrat. (Keokuk, Iowa) 1916-1922, 1920-04-22

lwickedly false The provision is not
a guaranty in any sense 1t creates
no obligation upon the part of the
| government, and not one penny can
! ever be paid under it from the treas.
ury. Furthermore, it is not a guar
anty because in fixing rates, the
interstate commerce commission
must estimate the volume of the
traffic for the ensuing year and that
estimate may, of course. be above
or below the traffic actually moved.
Moreover, the commission must esti.
mate the cost of maintenance and
Z, operation for q future period, and ii
is manifest that this cannot be re.
duced to a certainty, The constitu-
ton forbids rates which will yield,
taken the country oyer, less than a
fair return; and in these days it will
not be insisted by any fairminded
man that five and one-half percent
! upon the value Of the property which
renders the service is an excessive
return. Nor does the provision
authorize the commission or permit
| the commission to consider watered
and worthless stocks and bonds. The
basis is the value Of the property
which performs the service, and
under the decisions of the supreme
court congress can neither add TO nor
take away from the value Of the prop
erty as determined by the rules OF
the law. l have heard it said that
| II congress attempts to make reason
tably certain a return upon railroad
property it ought to do likewise for
the farmers and the manufacturers.
The suggestion is absurd, for there
is no parallel between public service
and private enterprise. The law does
not attempt to tell farmer how
many acres he shall own, how he
shall improve it, what he shall plant
or at what prices he shall sell his
products. 1t does not tell him how
much he may borrow or how he shall
secure his debts. 1t leaves him, and
/ it ought to leave him, with free
hand to make what profit he can and
dispose Of his income according to
his own pleasure. We treat, and we
must continue to treat, transportation
as a public business; eliminating all
it's speculative profits and regulating
in the minutest way its management.
If the Committee of Forty-eight, the
Plumb Plan league and other like
organizations reach the logical end
Of their movement, and succeed in
Matchmaking, either directly or indi-
rectly, all production, we shall then
sit amidst the ruins of our prosperity
and survey a situation in which profit
will become immaterial, for there Will
be none either to distribute or enjoy.
Must Get Commission Approval.
1t should be remembered also that
the railroad law to which l have been
referring for the first time submits to
the interstate commerce commission
supervision of the issuance of all rail-
road securities and hereafter none
fcan be issued without the approval
Of that tribunal, and the PROCEEDS Of
the securities, whether stocks or
bonds, must be honestly expended in
improving or adding to the facilities
of transportation.
1 have been bitterly assailed TO:
the labor provisions in this railroad
law, and not alone for the provisions
which are now in the law but for GER
tain other provisions which were
adopted by the senate, but which
were rejected by the house of repre-
SSHIdIlNGS. IL 10 I'LL PoooipiS, 'tiiiih'
for any man who values the truth to
accuse me of any want of interest IN
the welfare of that great body or men
and women ordinarily described as
wage workers" l may be mistaken,
for no man Is infallible; but in view
of my twenty years of public life no
decent man will charge me with hos
tility toward labor. True loyalty to
labor, however, does not involve dis
loyalty to the common interest of the
hundred and ten millions of people
who comprise the republic Of the
United States. I am for labor and
ALWAYS have been for labor because
fair and Just wages and good work
ing conditions are absolutely essen
tial to the welfare of all the people,
but nv supreme allegiance is due to
the people as a whole; and | intend
to be loyal to that allegiance, NO mat
ter what the consequences may be.
In the railroad bill, we have provided
a fair, impartial tribunal for the adj
Indication Of all disputes concerning
the wages Of those who are engaged
in railroad employment. For the first
time in the history of the world VIC
have enacted a code for the protec-
ton of railroad wage workers. We
have laid down the principles which
what just compensation is
and if these principles be intelligent.
" applied the workers upon the rail-
roads will always receive their just
reward for the labor which they ex-
pend. Never before has govern
ment undertaken to protect body
Of wage workers in this way. and l
firmly believe that the law ushers In
a new era in civilization. |
Labor is Benefited.
Having done this for labor may I
turn to the rights of the public in
In the progress OF |
lime. our national life has become SO
adjusted. our communities so devel !
,ped, our commerce has been so |
established, that transportation must |
be continuous and regular. The sus-
pension of transportation, for a, single |
week disorders everything and in !
1icts untold hardships upon millions !
If people. A suspension for two
Il