The Holly chieftain., 1923-12-13

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soon as possible, to private ownership
aid operation under conditions which
would secure two results: First. and
Of prime Importance. adequate means
for national defense; second, adequate
service to American commerce. Until
shipping conditions are such that our
fleet can be disposed Of advanta-
geously under these conditions, 1t will
be operated as economically as pos
sible under such plans as may be ad-
vised from time to time by the ship
ping board. We must have merchant
marine which meets these require
ments. and we shall have to pay the
cost Of Its service.
Public improvements.
The time has come to resume In
moderate way the opening Of our in
tracoastal waterways; the control of
flood waters of the Mississippi and
Of the Colorado rivers; the improve
ment of the waterways from the
Great Lakes toward the Gulf Of Mex
leo; and the development Of the
great power and navigation project of
the st. Lawrence river, for which eff
forts are now being made to secure
the necessary treaty with Canada.
These projects cannot all be under
taken at once, but all should have the
immediate consideration Of the con-
gress and be adopted as fast as plans
can be matured and the necessary
funds become available. This is not
incompatible with economy, for their
nature does not require so much
public expenditure as n capital invest
ment which will be reproductive, as
evidenced by the marked increase in
revenue from the Panama canal. Upon
these projects depend much future In
dustrial and agricultural progress.
They represent the protection of large
areas from flood and the addition of
great amount of cheap power and
cheap freight by use Of navigation.
chief of which is the bringing Of ocean
going ships to the Great Lakes.
Another problem of allied character
is the superpower development of the
northeastern states, consideration Of
which is proceeding under the direc-
tion of the Department Of Commerce
by Joint conference with the local au-
thorities.
Railroads.
Criticism of the railroad law has
been directed, first, to the section lay
ing down the rule by which rates are
fixed, and providing for payment to
the government and use of excess
earnings; second. to the method for
| hn pf cra1ng. md
third, to the authority permitting con
solidations.
1t has been enormously assumed
that the act undertakes to guarantee
railroad earnings. The law requires
that rates should be Just and reason
, able. That has always been the rule
under which rates have been fixed
To make rate that does not yield
fair return results in conflscation, and
; confiscatory rates are Of course uncon-
stitutiOnal Unless the government
adheres to the rule of making rnte
that will yield fair return, 1t must
abandon rate making altogether. The
new and important feature OF that
part Of the law is the recapture and
redistribution of excess rates. The
constitutionalIty of this method is now
, before the Supreme court for adjudi-
cation. Their decision should be
awaited before attempting further leg
islation on this subject. Furthermore.
the Importance of this feature Will not
be great If consolidation goes into
effect.
The settlement of railroad labor dis
!, putes is matter of grave public con-
: : cern. The labor board was estab-
. lished to protect the public in the en-
joyment Of continuous service by at-
tempting to insure justice between the
companies and their employees. 1t Inns
> been great help, but is not alto
gether satisfactory to the public. the
employees, or the companies. II Il
substantial agreement can be reached
, among the groups interested, there
: should be no hesitation In enactlng
such agreement into law. If 1t Is not
reached, the labor board may very
; well be left for the present to protect
, the public welfare.
, The law for consultations Is not sufii-
. ciently effective to be expeditions. Ad-
: dtional legislation Is needed giving
, authority for voluntary consultations,
! both regional and route, and provid-
ing government machinery to aid and
stimulate such action, always subject
2 to the approval Of the interstate COM
merce commission. This should au-
" thorIze the commission to appoint COM
, mlttees for each proposed group. rep
). resenting the public and the compo'
: nent roads. with power to negotiate
with individual security holders for
i. an exchange Of their securities for
!, those of the consolidation on such
n terms and conditions as the commits
sion may prescribe for avoiding any
confiscatIon and preserving fair val
ues Should this permissive consolida'
. ton prove ineffective after limited