The potters herald. [volume] (East Liverpool, Ohio) 1899-1982, 1938-06-30
The Cherry Tree
Where We Hdtchet Out
The Truth
. RAILROAD INDUSTRY
D "STOP GAP" LEGISLATION
. STOCK EXCHANGE
. $1,000 AN HOUR

Railroad industry is in bad shape
and will get worse, in all probability.
This is not news. Everybody knows
it.
Then why did Congress adjourn
without passing railroad legislation
There are many answers but the
real reason, if any existed, has not
been divulged.
Railroad unions opposed legislation
to give Federal loans to railroads on
easier terms, unless carriers agreed
to drop demand for wage cuts.
Labor's stand was one excuse given
for failure of Congress to act.
The attitude of labor does not seem
like an unsurmountable obstacle. Sure
ly, there is enough craftsmanship in
the ranks of labor and management
to have reached some agreement which
would have at least permitted "stop-
gap" legislation.
Now only a special session of Con-
gress can bring action before January,
when the next regular session meets.
X x
Some Congress leaders apparently
want the railroads to ego through the
wringer," with no effort to help them.
Others apparently share the view of
the Congress leaders.
This view would permit many of
the railroads to go into bankruptcy,
with all that would mean in deepen
ing the present depression.
Hardly intelligent, to put in mildly.
Smacks a good deal. of society run
by uncivilized people.
Certainly not in keeping with the
idea of planned society, which has
been so closely associated with the
present national administration.
x x x
Permitting a large part of the
nations railroads to sink into bank
ruptcy is not the cooperation between
government and industry we have been
hearing so much about.
In some other fields, there are moro
encouraging signs of cooperation.
New York Stock Exchange and
Securities and Exchange Commission
(SEC) are doing more than merely
talk cooperation.
They are working to put into eff
feet "clean up" rules and policies to
eliminate various stock exchange evils
and obviate the necessity of drastic
legislation.
Instead of the "crack down."
with it's bitterness and time-killing
controversy, there have been
friendly conferences looking to
agreement with minimum Of lost
time and motion
Similar tendencies are being shown
in the relations of the SEC and the
utilities.
Apparently some persons in govern
ment and industry are beginning to
realize the truth of the words of
Charles Steinmetz, great electrical en-
gineer and champion Of the workers.
'Co-operatiOn is not sentiment
it is an economic necessity" Stein
metz said.
X X X
There is one thing which no Amer
these times. That is the frequency
with which local and state govern
ments allow economic pressure, petty
politics, prejudice or sheer stupidity to
make them neglect the helpless who
should be cared for.
Cleveland, Ohio, city of about a
million population, stopped all relief
operations the other day. An advance
loan of 100000 was delayed; all city
and state funds had run out; and at
the state capital, the legislature was
quarrelling over methods.
The city director of finance was try
ing to borrow $1,000 to help the sick
and the babies; but the mayor said
that would be "just a shot in the arm,"
for the city needed $1,000 an hour,
anyway. And it has been very short
of money for months.
Temporary? So is starvation. Nine
days of it means death; which is gen.
orally considered permanent
And the Ohio cities are merely the
worst, not the only ones.