The New York herald., 1922-03-05
DEMAND STATE GRIP
!: ON INDUSTRIES END.
It's strangling Effect Pic
tured by Republican
Club Speakers.
PLIGHT OF RAILWAYS
Drawback to Prosperity
= Generally Is Stressed
by /. +. Loree.
1r
.REPEAL ADAMSON ACT
-
- est g.4stss "a 8 $50. . 3.
Stabilization in Farm Prices
Urged by Eugene Meyer of
Finance Board.
.REPEAL ADAMs0N ACT


co1ntfy, L. +: LoEees president of thel
Delaware and Hudson Railroad, yes
terday told two hundred luncheon
guests of the National Republican Club
that the restoration of the whole eco
nomic system depends on "the cessa-
ton of paralyzing state interference
in the whole domain of business and
industry"
Despite the rain the luncheon was
we'll attended and there were present
many women members of the Republi-
can party. They, as well as the men,
listened with intense interest to the
dsScussion of the railroad problem from
various angles, the speakers. besides
Mr.. Loree. being Eugene Meyer, Jr..
OF the War Finance Board; Major
Henry T. Hunt. former Mayor of Gin
cinnati and former member of the
Railroad Labor Board, and Col. +. A.
Molitor, who discussed. as he has done
before. the existing situation from the
standpoint of the investors in railroad
securities. Henry W. J.Assup. vice
chairman of the CLUB, E:ssfded.
Mr.. Loree began ny gong n suns
length into the Government operation OF
railroads during the war, and afterward,
sparing no one and condemning the
Railroad Administration frequently, he
said. for instance:
THE most severe blow the railroads
have sustained was their taking over
by the Government 1t should be
of interest to members Of this club that
the taking over of the roads was not
a military necessity of the Government,
but political vancouver of the Admins
tration. f. 1t is difficult to follow
the policy of the Director-General in
his management of the properties"
safety Margin Small.
MIR. Loree differentiated. too. between
the war period and the period after
the war during which the Government
kept control of the railroads. He found
little or no excuse for the continued
control or for the acts performed by
the Administration in the exercise of
that control, he said, too. as to the
present situation: $50 small is the mar
gin of financial safety and so meager
the resources OF the railroads that re-
ductions in rates can only safely be
made when preceded by reductions in
costs. The important thing will be our
ability to accomplish both without dis
aster." He continued in part:
''The great statutes that were TO be
the safeguards OF our interests, the
stimulus TO our advancement. the sup
port of our growth. are gigantic shams
at war with the fundamental concepts
Of our organic structure OF Government.
and destructive OF our tenets of rights
For many years the condition has
been known. numberless. times If has
been pointed out and made clear; al
ways. when dealt with, it has been
resolved upon grounds of political ex-
pediency and subserved to promote per-
sonal political fortresses.
THE remedies for the railroad situa-
tion lie to my mind:
1st. In the repeal of the Adamson Law.
I'd. In the abolition OF the Labor Board
and the absorption of so much or It's
work as It is deemed wise to preserve
by the Interstate Commerce Commits
sion.
Rccn.t Transportation Act.
al In the entire recastlng Of the
TRANSFORMATION act. stripping it of its
socialistic features and dividing the
duties of the Interstate Commerce COM
mission to separate the administrative
from the judicial.
Am The readiustment Of wages and
rates. sympathetically and yet as rapidly
as conditions permit.
But this Is. after all, part only OF
a much larger situation. That siturtion |
Is much too serious TO permit OF pol I
icy of drifting. The present economic
sveten, remains possible only so long as /
n Il both carefully studied and Loyalty /
supported. It's forces must be kept IN \
eouilibrium and the widest possible I
range OF human motives must be made
use OF. Not only are we now con-
fronted with the most searching test 10 |
which our civilization ever has been
subjected but steadily we must face the
ever increasing weight OF population |
and the ever increasing complexity ana
combination OF motives. We cannot
pass by unregarded any symptom OF
weakening or Of friction among the I
forces BY which II Is held together
How. then can economic restoration |
be achieved what is the sum OF the l
whole matter? II "a the cessation OF |
paralyzlng State interference in the I
whole domain Of business and indus /
try"
Mr.. Loree went on 10 point out that /
no nation had ever made great indus |
trial advancement until II developed a
method OF association similar TO the |
business corporation. Though the cor
porations had meant so much to the |
country's growth, he said. for the last |
thirty years there had hardly been a |
legislative session or a meeting OF Con- |
gress at which laws had not been |
passed TO harass, limit and destroy cor
porate strength. He added
Repeal strnngIinE Laws.
IT would be willing and glad to see |
the Republican party 20 70 the country |
on platform containing only one SEN \
fence--a pledge TO consider no lcrisla- 4
ton OF an affirmative nature. other
than tho supply bills. and energctically /
and industriously to effect the repeal I
of the paraiyzng government interfef- I
encc in the whole domain Of business
ana industry"
Mr.. Meyer spoke of the relation Cf
the railroads TO agriculture. Better H. I
nancial conditions and the stablization |
Y-prtces for agricultural products fur I
Hsh a sound basis for business recov-
49, he isaid. re pointed out that this
Mas the only railroad made country In |
NC. world and that further progress |
cid have 70 come through the devel-i
|fnent or -ffSA railroads. 80 str'
NVMaJH Hunt offered a. new. thought /