Evening star., 1921-08-04
Editorial Digest
A Half Billion for Railroads.

A Half Billion 1or hallEoa0s'
President Harding's plan to allow
| the War Finance Corporation to raise
| the half billion to pay the railroads
instead Of taking it from the United
States Treasury meets with the ap-
proval of the press of the country.
Even those newspapers which con-
slider that to refund the debt through
| a federal body Is getting "the govern
ment into business" approve OF the
situation. for all agree that until the
buying power of the railroads is re-
stored general prosperity will be
deferred.
The New York World (democratic).
| an active critic of the administration.
| declares that the Presidents message
| advises such plunge of the govern
ment into business as has never been
J known before for a time of peace"
but admits that this plan is better in
ures to which fioundering and lead
lsrless congressional majority Is giving
Moose rein"
| Looking at the plan for financing
| the railroads as something more than
the outline of a railroad policy,"' the
ceives in 1t indication that "it has
actually become impossible to with
| araw the government any further
from business" and concludes that the
continued life" OF the War Finance
corporation is proof Of the tenacity
with which the public Will cling to
| any system of governmental aid after
lts immediate justification has passed"
| Mnlie the Cleveland. Plain Dealer
| independent democratic) acknowl-
absss thst. sue sTen objections exist. it feels
emergency relief from so many
sources that the suggestion of the
| resident is doubtless better than the
usa orsa ni1. GI est establishing, special financial
diSidmai ions IONS for dealing with in
! governmental assistance"
oninta ina. the plan is not idear' is the
"panion OF the Syracuse Post STANDARD
the thhepuniican). .o which adds, however,
he :. Is doubtless the best availa-
PIE PIE, and without laying a new pipe
| ine TO the Treasury, already drained
WIN supply the railroads with
money they must have to operate ef-
lc1sntiy and economically"
( to Lne new york Globe independently
| says: The immediate practical adyan-
tages or this procedure ought to ba
| considerable. for the expenditure Of
naif billion dollars by the roads
Ulie snd s,ie lessen Unemployment somewhat
oe the best plan under the circum-
stances. But 1t will not take the gov
| ernment out of the railway business
~ is Tar more likely to pull the gov
ernment IN even more deeply
for the most part. however, the
newspapers give their support to Mr..
darding's measure. The Wall Street
journal independently remarks that
ms proposals for dealing with the
Grl,icai S condition of the railroads" il
!ustrate the country's good fortune
10 nave a practical man in the White
aouse and as big a man as Hoover in
the cabinet" The Topeka Journal
independent republican, also consid-
ers that the step indicates that there
House." '"e "hA'e
The Roanoke world-News fdemo.
| craticl believes that President Hard
ing rs making progress toward i'm
pr1Sea business cenditions" when he
submits these absolutely sound" rec
omme endations concerning the relief
or the railroads. Indeed, making this
payment possible without involving
additional taxation appears to the
Seattle Times Gndependent) to be the
zone thing needed to speed nation.
wide prosperity" for Investment Of
| this half billion dollars in equipment
or lts payment to those having claims
against the lines would have a gen.
elaliy vivifying effect: while the set
| tlement of the railroad problem with.
out imposing additional burdens on
! the taxpayers would encourage and
simulate business everywhere through
out the country"
| regardless Of the abstract equity
OF the scheme" the Syracuse Her
aid independently feels mo doubt that
its execution would prove a great
stimulus to the country's ianEuishinE
business" 1t also points out that long
| delayed purchase OF equipment and
improvements would ''impart fresh
life to many industries" The Lincoln
1Neb2 Star independently calls the
Presidents outline of procedure "di-
revival of business may logically be
anticipated" If by this means new
| ton lines"
framed into a bill which will 20 20
through Congress without serious
hitch" the Baltimore American Gre
publican) expresses its approval Of
the plan. adding that 1.-The people are
turned to a solid and paying basis as
quickly and efficiently and expedi-
tiously as may be-"
| Looking at the question from the
railroads viewpoint, the Lynchburg
| News (democratic) comments on the
Especially clear-cut" meaning of the
message. noting with satisfaction that
1t is based upon recognition of the
present and extremely important reeds
is fairly their due. and which can only
be further delayed at the price Of
great injustice to their interests" The
Charlotte Observer independent DEM
ocratic) remarks that 1.-The whole coun-
try has suffered while the transporta-
tion system has been fed on promises
! Unquestionably the aggressive atti.
tude now assumed by the President
should be productive of wholesome
| and expeditions action"
The Brooklyn Eagle Independent
democratic) approves of the sound
business principle back of the
| scheme. which has the further advan-
tage of avoiding anything in tho
nature of an appropriation" and the
Cincinnati Commercial Tribune IRE
publican) looks upon it as simple
| and eminently safe"
After reviewing the advantages that
will accrue to the railroads and the
| country at large through restoration
of credit and stimulus to buying, the
New York Herald independently de-
| clares that "it is good business for
the government" better, it believes,
than for the railroads. because the
former will benefit by compromises
that the roads will make on their
claims in order to get quick settle
ments."