The daily worker. [volume] (Chicago, Ill.) 1924-1958, 1927-05-20
The Traction Swindle,
Incorporated
(Continued from Page OneJ

No one can even begin to under I
stand the answer to these questions
who does not know that Traction has
for many years been the moving force
behind the operation of the New York
City and State government. 1t is the
invisible power behind the dummy
political organizations which appear
to rule these governments.
In the offices of the Morgan
Banking Interests in Wall Street have
been pulled the strings not only
which operate the city traction lines
but in those same offices have been
drawn the wires which control the
officials in the City Hall at New
York and in the Executive Chamber
at Albany.
Are these facts which are being
reported or are they merely surmises
and speculation? Evidence will be
laid before the reader which will
more than bear out these accusations.
The loss to the city through the
operation of the subway lines under
the so-called Dual Subway Con-
tracts" is figure Of nearly SIl .OOO,-
600 yearly. Every year this huge
sum is placed on the city budget to
be paid directly by the tax payers
and indirectly by the wage earners of
the city Since the beginning of the
deal for this Dual Operation. the city
has lost for the item of operation
alone, staggering sum which is
rapidly approaching One Hundred
Fifty Millions of Dollars. If the city
should carry out the terms of the
present method of operation for the
stipulated 40 years it would then have
sunk In interest and sinking fund the
figure OF nearly $700,O00,OO0.
But the city has already sunk over
$30O,000,O00 as original principal in
vestment in these subways. The total
would make the colossal figure of
ONE BILLION DOLLARS.
Even if it were possible for the city
to continue under the present deal.
and even if the proposed 10 cent fare
steal were not about 9o be executed.
would the city be free and clear at
the end Of the stipulated 40 years Of
the contract? Not at all!
( THE CITY WOULD STILL BE IN
DEBT TO THE COMPANIES AN
AMOUNT IN EXCESS OF $500, OOO,-
OOO
For this figure represents the in
terest on the amount the city is al
ready in debt to the Traction Trust
as a result of past deficits. This is
also assuming that the present rate
of loss does not grow larger.
And on top of all this there is now
about to be completed the ten cent
fare steall
In what direction shall the people
Of the city turn for relief from this
organized and Incorporated swindle?
There is, for instance, the posi-
bility of going to the Governor of
the State, Alfred f. Smith. All
Smith has uniformly maintained the
reputation of being "the friend of
the people" All Smith is rated
among the most popular governors
in the history of the state. At cleo
ton time, not only the people as
mass, but the organized labor move
ment, practically the whole liberal
section of the public and even the
Socialists line up behind him in
body.
But IS this not the same All Smith
who through his Tammany-controlle
Judge issued the injunction against
the Traction Workers in their I'M
hindered swindle now being perpetra-
ted?
Is this not the same Al Smith who
at the time that the gangster IN
dustrial Squad beat up the I. R. T.
strikers and when the appeal was
made to him for action, failed even
to answer to the wire sent him by
the strikers?
Is this not the same AL Smith, this
outstanding Democratic Candidate
for the presidency. the one who sat
across the table with Frank Hedley,
Jerry Dahl and some others in
secret prediction Traction deal not
so many months ago.
And if we were to turn to the
Transit Commission for relief, could
we find there any remedy?
Are not some of these Transit Com
missioners the personal friends Of
this same Al Smith and indirectly
the ready and willing servants of the,
Traction Trust?
And are not others Of these Tran
sit Commissioners, the personal
friends Of certain Insurance Company
directors who at the same time are
directors of the Interborough and the
p. M. T.? And are not these Tran
sit Commissioners playing the game
of the Traction Interests who are
directly linked up through interIock-
ing Directorates with the Big Four
Insurance exposures which even now
The DAILY WORKER is disclosing
TO the public?