The Hartford republican. (Hartford, Ky.) 18??-1926, 1922-02-24
: .relief To the simmer.


they are, confidence being at low
ebb, we do not have the equipment
necessary for our business. We are
driving headlong for setback to our
whole commerce the very moment
that we begin to get on our feet
I'm these circumstances It seems
to me vital that the railways as our
greatest industry should propose a
courageous program of broad vision
ed bttterments, and If necessary the
Government should consider giving
the use of it's superior credit. 1t
would not cost the taxpayer a cent to
give the Government guaranty to
equipment trusts upon the primary
responsibility of the railways, the pro-
ceeds devoted entirely to improve
ment and equipment. This is no pro-
posal to take money from the tax
payer. 1t is a proposal to save him
from paying treble the amount of his
guaranty in profiteering and losses.
!
earlier, for unless something Is done
the Improvements will have to be
paid over years out of increased
rates Nor would we lose a cent up
on the guaranty, for If American rail-
ways can not earn interest upon their
borrowings let us throw up our hands
] 60,
! "a real program Of construction
would in its various ramifications
give relief to five or six hundred
thousand of our unemployed. 1t
would enable even added numbers
to increase their standard of living,
and thus give increased market to
the produce of our farmers. Our
| farmers who look to foreign markets
/ for their surplus should stop to con-
slider that our home consumption of
meat decreased nearly pounds per
capita in 1921, mostly owing TO IN
employment, end that If this decrease
could be overcome It would Be worth
more than So per cent Increase in
exports.
eve talk glibly of giving billions
of credits to foreign countries to in
crease our farm exports. | wish to
say, with all responsibility for the
statement, that a billio ndollars spent
upon American railways will give
more employment to our people more
advance to our industry, more as
sistance to our farmers, than twice
that sum expended outside the
frontiers of the United States, and
there will be greater security for the
investor.
Finally, / want to refer to the
veritable witches caldron being fed
constantly with hates distilled from
the misdeeds of railway promoters in
the past, from the conflicts between
the railways and their workmen.
From all the confusion that arises
from 1t we destroy our railways and
destroy ourselves. With this COM
mission, on one hand, assuring hon
esty in finance, justice to the shipper
| and the railway investor, with the
Railway Labor Board assuring justice
to workers, and above all, with
great spirit of public service in our
generation of railway managers, 1t
is time to call off the witches and
take some vision of our national sit
uation If we are to pull ourselves out
OF this depression.
\ "If 1 were to discuss the rates
charged today l should say at once
that a decrease in passenger rates is
not nearly so vital to the community
as freight rates, for passenger rates
do not enter into the spread in pro-
portion to the relative volume of
earnings. If / were examining the
freight rates l should at once say that
coal, metals, wood and agricultural
and other producers goods should be
reduced to the bottom before lei.
and class rates are touched.
81 would be willing to go even
further and say that l am convinced
that even If the commission cannot
the present moment justifiably re-
railway incomes single dol
lar it is warranted in investigating
the possibility of some relief to the
more distressed commodities by
revision of some rates upward. There
is perhaps no great field for changes
in this direction, but 1t is worth in
quiry. AS mentioned above, an eco
monte analysis of our industry will
show that /, C. l. and class rates are
far too low compared to the rates on
primary commodities.
Determination of anything in the
nature of permanent rate basis is in
my own view impossible at the pres
ent time because: