Amarillo daily news. [volume] (Amarillo, Tex.) 19??-current, 1920-09-26

thcy could make. aud shippers Ia al
they could take. there was no common
interest in increasing railroad eflicicn.
cy. II n shipper found II profitable Ia
use a freight car na "a warehouse. he
saw no reason Coz unloading II merely
10 sell more transportation Ia some
one else. az a. delay shipment 81
goods In order that car might be-
loaded To capacity.
The Railroads are Publicly Owned and
Operated.
but times have changed. a new co.
OPERATIVE era has been opened IN tile
history al American railroads. Today
the railroad owners. the managers. tho
workers. the travellers, and shippers.
the whole public--all are partners in
a common enterprise. We have In fact.
actual public ownership and public Oh.
ersGion OF railroads. And IL may com.
lori somc Of our radical agitntors for
Government ownership az the railroaus
10 knot that the Government now hns
moro than billion dollars invested I'm
the enu,rpriae and may hav. more be.
f"re II has less
Wien Congress turned the rail
roads Back 10 their owning comma MES
Runraneecing that their combined net
Income should not fall below n fixed
ninimpe. ana providing FOR recapture
Into the public Treasury az iarg.
share Of their profits. all the p.oplc
b"came partners In the railroad b,,si.
ness. Private ownership and o,,eration
~ the odd sense. no longer exIst The
directors ana manngera ar. the hI,,od
servants ~ the public. ndminis,orIng
i've great properties entrusted Ia tho,n
under the direction of n Goyorn,nen,
boai,l which has almost llmitloss now.
.ls, Ih'y can TAX" no Important action
WHhout tue approval Of the Govern.
nen,. Their management. ~ defined
Wv NV; must be honest. efficient, and
=. ~ should be borne In mind tina, tho
=. H.sl'urt'tion Act does not guarantee
nc proits OF any individual comparv.
hhdS an any securities n docs ma,
saint individual initiatlv,, by rcmo,,i,,a
ut Tea rof failure or the hone - s
"asd The unsuccessful railroad co.,
9" bhnkrupt Just as easily now n, h,.
Tore iha law was passed II nriyido.
n INSURANCE against the results 90
u management. What II does IN this
F'Pee1 ~ merely 90 provide n level M
rates tha, VIII enable the Industry n.
whoi" 10 live-but no, grow Ia, onI
giVr'a modest reward 20 tho mos, c,st'
ci"ii and most fortunate.
under the new order, rising pr,,,,.
wiz mean rising dividends 1niv IN ,ho
point shai the Government considers
necessary "a establish , firm cred,,
foundation After that the bigger tho
profity. fac lower viii be- tho rate.
charged 40 public. bccnuse the now
law rcstrips profits. and the uulol,es,
VIZ Nto cut profits IL to cut rates The,
public. the .eforc. win have n greater
interest In railroad efficiency. More
tons pcr car and moro miles per div
VIII he more To the advantage o fha
p"hlic than tc the railroads thcmselve.
nut the chief obstacle In the wav
~ pcrtecting national control ~ trans
nortaiion-so far ne perfection is no.
liticallv and htmanlv attainable--is IN
the runtlici az cderal and State reEul.
ton. The dny mus, soon come when
I'll public rerrttion of interstate com.
merce will bedefinitelv under che Fed.
eral Government. N win need a decia.
ion of the highcs; count 10 end IN. cv.
'ni"nc" of this twilight zone - publ,
regulation
TIL. Paramount Issue ~ To-day.
Tut there ~ involved IN tho rail.
road problem q far greater issue than
even tina; ~ adedrat" AMI efficient
iransporiatlon. ! refer 10 the ISSUE oi