Atlanta tri-weekly journal. [volume] (Atlanta, Ga.) 1920-19??, 1924-10-02
MARKHAM ASSA|LS
i. S OWNERSHIP AS
SOVIET DOCTRINE

CHICAGO, Oct. 1.-The railroads
are in the first line of defense against
those who would make this country
a second Russia, G. H. Markham,
president of the Illinois Central Rail
road company, declared here today
in an address before the American
Bankers association convention, in
which he attacked proposals for gov
eminent ownership of the roads.
Mr.. Markham said: THE broad
principle to be considered is whether
the people desire more government
in business, and eventually all gov
eminent in business, which is COM
munisn. The patriotic grounds to
be considered are those of the great
est good for the greater number,
which constitute the essential prin-
ciple of democracy.
Our nation has developed as the
great defender of the rights of the
individual. Private property is the
cornerstone of our industrial struc-
ture. We have had to regulate many
private businesses, including rail
roads, but We have always mana ged
to avoid confiscation. We never have
favored government ownership as a
national policy, and, therefore, we
never have been called upon to de-
eide definitely how far it should go.
If the railroads are taken over by
the government, we must face the
fact that the big step in reversing
our old settled policy will be taken
and there will be no stopping the
force once we have let it loose. If
there is no particular reason why
the government should not own and
run the railroads, is there any rea-
son why it should not take over also
the banks, stores, factories and
farms, until all Of us are govern
ment employees and the ideal of the
soviet is attained?
The largest business enterprise
OF the government is the postoffice
department, which has about 800 900
employees. The railroads have about
2,OO0,0O0 employees. There are APP
| proXimately as many railroad emu
ployes as there are in all govern
| ment service, federal, state, county
and municipal, put together. If the
railroads are taken over by the gov
eminent, there will be one govern
ment employe out of every ten wage
| carriers IN the country instead of
one out of 20 as at present. If this
one great step is taken into govern
ment ownership, can any other m.
dustry in the country feel that it
| is safe?
The railroads, under private own
ership, are among our heaviest tax
| payers. Under government owner
ship, the railroads would be no more
| subject to taxation than the post
| OFFICES now are. The result would
be an unbearable burden that might
force many of our local governments
to stop payments on their bonds
and to go into bankruptcy. The tax
I problem would be great deal more
vexatious than it is today.
The acquisition of the railroads
would add more than $4,000, 900, 900
| to our national debt, already the
largest ever carried by any nation
no longer in existence than ours, If
government railroads in this coun-
| try were no more successful than
they are elsewhere in the world, the
| interest on that twenty billions of
purchase price would be the cause
for additional burdens on the taxpay-
ers left to carry it. AS the tax bur
den developed it would not be sur
| prising to see other industries well
coming government ownership for
themselves. They would gain i'm
munity from taxation and their own