| Show G GIVE VE SAME CONTROL OVER RAILROADS AS OVER OYER THE BANKS BANKS' DA IS I INDIANA INDIANAPOLIS in Inc May l si 31 President Roosevelt delivered d ered th the principal principal prin- prin prin cipal address at the unveiling of a monument to General Henry W W. Law Law- av- av ton The speech was devoted to a discussion discussion dis of railway problems J One great problem that we have haye before be be- tore fore us Is to preserve the rights of ot property property property prop prop- erty and these thee can only can only be preserved If It we remember we-remember that they are In less jeopardy jeopardy jeopardy ardy fr from the socialist and the anarchist than tr from from m the predatory man of ot wealth It has become evident that to refuse to Invoke oke the power of ot the nation to re re strain the wrongs committed by theman theman the theman man of ot great wealth who does evil is not hot only to neglect the Interests of the public but I li h to neglect the Interests of ot the man of ot means means' who means ho abts' abts honorably acts honorably by his fellows The power of the nation must be exerted to stop crimes of ot cunning cunning cunning cun cun- ning no na less than crimes of ot violence There can be no no halt in the course we have deliberately elected to pursue pursue- the policy policy- asserting of the right of ot the na nation nation na- na tion so far as It has hall the power to supervise supervise supervise su su- su- su and control the business use of at w wealth especially I In Its corporate o form r lh ree There has been much t wild talk as to the extent of the overcapitalization of ot our railroads The census reports on the commercial value of at the railroads of the country together with the reports made to the Interstate Commerce commission by the railroads on their cost of Construction Construction Con Con- on- on tend to show that as a whole the railroad property of the country is worth orth as much as the securities representing representing representing it and that In the consensus of ot opinion of ot Investors the total value of ot stock stock- and bonds Is greater than their total face value notwithstanding the water th that t has been Injected in particular particular particular par par- places Ample provision pro should be made by Congress to enable the Interstate Commerce Commerce Commerce Com Com- merce Commission by the employment of a sufficient force of ot experts expert to undertake undertake undertake un un- the physical valuation of ot each and any road In the country whenever and so BO soon as in the opinion of ot the commission such a valuation of ot an any road would be of value alue to the commission In Its Its' work There are arB undoubtedly some roads as to which It would be an advantage advantage advantage ad ad- vantage from the standpoint of ot the commission commission com com- mission Ito to have such a physical valuation valuation tion as soon as possible One of the most Important features of ot the Hepburn act Is Its having given glyen the commission n absolute control over oyer the ac accounts accounts accounts ac- ac counts of railways The commission h has s Just Issued an order to the effect that on July 1 next all the railways of at the country subject to the Jurisdiction of ot the commission must standardize their accounting accounting accounting ac ac- ac- ac counting methods and the commission Is now organizing g a bureau of special examiners a l er whose will Yr g be among g gother other things to see that the books of the carriers are kept In conformity with the rules laid ald down b by the commission Thus the means are area t at hand and the machinery already created which when perfected will wm put the public In position to know the facts so that the small Investor in investor In- In vestor can exercise an intelligent judgment Judg jUdg- ment when entrusting n his money o to the nop eJ Promoters o of great railway a a enterprises t What we have to demand In ourselves and In our public servants ants Is honesty r honesty to all men and If It It we condone dishonesty because we think It Is exercised exercised exer exer- in the Interests of ot the people w we m mM m- m rest Test assured that the man thus showing it lacks only the thee opportunity to people exercise j e The it against man n t vJ who the on Interests eOr occasion IO of will the t corruptly do what Is wrong In the interests Inter inter- ests of a big corporation Is the very man man eager to blackmail that corporation as the opportunity arises The man who Is on occasion a Is III apt when wh-n the gust of at popular feeling blows hard against th tha corporations corporations' he has corruptly served to he be the loud loudest Rt it m most st reckless and most violent among those who denounce life them i em Hunt such a man out of public Hunt him out as vas remorselessly If It he is a 3 blackmailer ler as If he stands corruptly cor cor- for tor special Dem Demand nd honesty honesty absolute unflinching honesty honesty- together with courage and common ink alike public servant and in business sense mao man |
