The Washington times., 1922-02-04

tive valuation. Surely, there is
room here for safety to investment,
as well as relief to the shipper
A real program OF construction.
Mr.. Hoover said. would in its various
ramifications give relief to five or
six hundred thousand Of our unem-
ployed, and would enable added num-
bers to increase their standard of
living, and thus give increased mar.
ket to the produce of the farmers.
In declaring that a billion dollars
spent upon American railways would
do more to restore prosperity than
two billions spent abroad. he said:
Would Aid Unemployed.
1--WE 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 billion dollars spent
upon American railways will give
more employment to our people.
more advance to our industry. more
assistance to our farmers, than twice
that sum expended outside the from
tiers of the United States-and there
will be greater security for the in
weston"
Hoover asserted that I'VE must
predicate all plans for the future on
the ultimate return of the American
people to normal economic activity"
and added:
There can be no question that
this return will take place, and no
responsible body will approach our
problems on any other basis. Not
one Of us would submit to the charge
that we are not prepared to bet
against any odds upon the future
Of the United States.
Our problem Is to expedite this
recovery-to speed up employment
Of our workers, and thereby find
markets for our farmers"
Referring to 1.-The wadtable
witches cauldron being fed con-
stantly with hates distilled from the
misdeeds Of railway promoters in
the past, from the conflicts between
the railways and the farmers, be-
tween the railways and their work
ers," Hoover declared to the COM
mission:
Call Off Witches.
From all the confusion that
arises from it We destroy our rail-
ways and destroy ourselves. With
this commission on one hand assur-
ing honesty in finance, justice to the
shipper and the railway investor,
with the Railway Labor Board as
surfing justice to workers and, above
all. with great spirit OF public serv-
Ice in our generation of railway
managers, it is time to call off the
witches and take some vision of our
national situation II we are to pull
ourselves out of this depression.
THE increases in railway rates
during the past five years have
fallen with extraordinary inequality
on different groups Of people in the
community.
THE increases in rates since
1914, for instance, have added prob
ably less than per cent to the
price of cotton goods on the average
haul, but 1t has added probably so
per cent to the price of coal. The
increased rates since 1914 have
added nearly 100 per cent to the
cost Of assembling the materials for
pig iron.
"All this is artificially forcing our
industry toward their raw materials.
This does not alone represent the
starting Of a new factory; it is
movement of the whole mechanism
Of the community, labor, homes,
schools, railways and what not
an enormous duplication of plant
and loss of capital.
Readjustments Many.
During the past eight months
the railways have made many
thousand Establishments of local
rates in endeavoring to heal local
distortions. but I am convinced that
the whole railway structure needs a
most systematic overhaul in the
light of the new economic forces
that have been brought into play.
I'VE obviously must maintain the
average rate that will support our
transportation systems adequately,
and such an overhauling of rates
might quite well mean the advance
ment OF rates in certain com.
modities in order that compensation
can be given to others where there
Is undue drress.
IF l were to discuss the rates
charged today 1 should say at once
that a decrease In passenger rates
Ia not nearly so vital to the COM
munity az freight rates, for the pas
senger rates do not enter into the
spread In proportion to the rela-
tive volume of earnings"
Hoover declared that of the
freight rates, coal, metals, wood.
and agricultural, and other pro.
ducers' goods should be reduced to
the bottom before class and other
rates are touched.