Salt Lake Herald-Republican | 1919-02-07 | Page 2 | Paul Warburg Urges Private R. R. Control

PAUL I WARBURG URGES I PRIVATE WE R. R R. R 1 CONTROL New York Tork F Feb Fab b. b 6 Return t. of ot the railroads to private control with government gov- gov gov government O regulation assuring competition competition competition tion in service but not In to rates and guaranteeing fair returns to railway of ot excessive excessive investments In with a division labor la labor la- la sive e Incomes between stockholders bor and the government go was advocated nd by Paul M M. 1 Warburg governor Jo of or the federal reserve e board cre today toda in an address to the New ew York chamber chamber chamber cham cham- ber of or commerce Mr Ir Y Warburg discussed unrestricted with private operation as incompatible p interest lie He characterized char gov government government gov- gov O ownership as bound to pollute our political and social life and as ns making for fOl stagnation st Inefficiency poor service and high rates ratos lIe He declared de- de d de declared that inadequate railroad earnings earnings earn earn- ings and practical destruction of ot their credit which he attributed to errors of or law past sins of or the roads and mistakes of ot the tho interstate commerce commission and the thc state railroad boards board had brought the tho country faco taco to face with tho ho abyss of or government go ownership Mr 11 Warburg advocated ad in place of ot Interstate interstate inter Inter- tho rho dogmatic and slow moving state commerce commission a n. half hale Ju Judicial judicial ju- ju u- u half administrative body bod of or live five or seven men at Washington with re regional re- re gional Ional boards at points throughout tho the country lie Ho disapproved disapproved disapproved proved the plan submitted b by the railroads railroads' railroads railroads' railroads railroads' rail rail- roads' roads operating operating- heads for creation of or a secretary of or transportation which he declared would sooner or later bring tho the railroads into politics