The Nezperce herald. (Nezperce, Idaho) 1900-1957, 1924-12-24
ARE FIGURES I.AcTsq

'to swallow up Agriculture gets
an investigation only.
Therefore, wish TO quote you fig.
ures on railroads for the year 1923
as the 1924 data is not yet available.
The year 1928 win go down through
history as the hardest year ever
known for agriculture in this couu-
try; more people forced from their
farms and more farm homes lost bv
mortgages than ever before. Also.
the year 1928 win pass into history as
the greatest profit-making year ever
known for American railroads. To
prove this I quote You figures from
the American Railway Association
for 1928. The previous record year
for railroads was 1920, but 1928 was
10 per cent higher, when almost So.
100000 cars of freight were handled.
The actual number for the past three
years being as follows:
l92l-Cars freight handled 39,323.l5s
l922-Cars freight handled 43,207 ,56l
1923--Cars freight handled 49,sl4,g ,g79
This immense business was handled
by the railroads at higher-than war.
rates. But publicity agents along
with some political officials would
make the people believe the railroads
are barely existiig. Also railroad
propagandists try to make us believe
that high rates are due to high wages
for labor. But figures are facts, so
here are the figures. ..l'
Out of every dollar paid for freight.
railroad labor receives as follows:
l9l7-Labor receiced -.---.--43h cents
l920-Labor received -----591a cents
l922--Labor received ..--471a cents
l923-Labor received ----.46% cents
So during the bumper year of 1923.
for railroads they paid their labor
less than at any time since 1917. In )
other words the railroads had 12 AS
cents more out of every dollar paid
for freight to apply as dividends and
other purposes than they had in 1920 )
when they paid their highest wages.
l will now quote you further fig Il
lres from an executive manager of
American Bankers Association, who a
highly reccomends the bureau of val
iations of the Interstate Commerce. A
Commission. GA body.'' he says, "of
non-political experts y i
which has placed the physical valua- =
ion of railroad property at the meagerl
um Of $1s,900, 100000. And he ridi-
ules the idea of $70o0,000,0o0 worth
+ watered stock. g
have several reasons to advance ~
hat our railroads are valued too high. y
First--a large number of our best p
itizens, business and professional ex- -
erts, tell us, regardless Of their poll y
lcal belief (as we are not roofing in -
politics) we are searching for re-
ress. Or is it your belief that SO y y
lrge a majority of our better class of =
-merican citizens possess such poor o'
ldgmentg If so, then as American pI
tizens aren Z we fortunate to be able $i
secure the only ones of sufficient 90
nowledge to award such generous %
ecision to such a worthy and humble 90
luse9 Therefore, what have we to
fer as upright, honest American cit
ems only our voice9 Or are we to be
sprived Of that9 &c
Second---Now, we only have to take W
Ieir figures, $4,000, 100000, as bas- &C
to work on. 1t requires % cents "
eight on a bushel Of wheat from
ezpcrec to coast points to make 6 per M
nt ON an .;nvastnan+ of tbo4 oo,,,, L.
ut should that estimate be seven bill -
IN dollars too high, then the real val
would be $l1 200, 100000, or 81 l-27
II cent lower. In that case it would
ly require 16 3-5 cents freight on M
Ishel Of wheat from Nezperce to ar
asst points in order to make the per ~
mt dividend This is saving of ma
cents freight on bushel. We ue
are over cents higher than Can ie'
as rate to the coast; also about cl'
nts higher than Argentina and Aus on
lila, our three leading wheat-raising ey
mpetitors. So ism t this strong evi- ga
nee our railroads are ter-soaked pc
Third-You have possibly read of .n'
Dawes plan of financing the Ger no
IN government railroad9 Take his nll
sures and look them over. Through sle
system of financing and operating
, wealth of our nation and Great -
itain is loaning Germany $15,0o0, ~
} Mr.. Dawes states the German lau
lroad is the largest system in tho ~
rid; that the original cost was $6,- =
100000, and the bankers loaning
money are so enthused they claim :,
net earnings promise to exceed the :.
ives estimate. This German road u
already encumbered for $3,O95,000,- q,
common stock, which is guaran- 20 10 J
d by German states; also $2,260,- m n,
1000 first mortgage notes guaran- ~. ess
d by the German government. But "
4 4sl H. L III III ~