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Show YOAKUM POINTS OUT COST OF THE PANIC . CHICAGO. Dec. 0. .T. Pierpont Morgan sat at the banquet board of the Chicago Association of Commerce tonight while B. F. Yoakum, chairman of the executlvo committee of tho Rock loland-Filsco lines, discussed "Our Country and Our Kailroads." Mr. Yoakum declared that the panic of last winter caused a shrinkage In the payrolls of tho railroads of $1,000,000 n day, largely as a result of misdirected agitation against tho roads. He averred his conviction that an established railroad rail-road policy by tho government is necessary, neces-sary, but It must be a stable, centralized one, under which tho railroads can plan construction years ahead, fie said 100.-000 100.-000 miles of rood would hnve to ba built west and southewst. of Chicago for Increasing In-creasing population and commerce. IUUI-roads IUUI-roads alone, he said, cannot solve tho transportation problem of tho country, but tho government must adopt as broad and cnmprehenslvo waterways policy ns has been pursued by capitalists in building build-ing railroads. Thomas Burke of Seattle Wash., discussed dis-cussed "Tho Commercial Relationship of tho Pacific Northwest and tho Orient." |