Show RADICAL RAILROAD regulation AND at ITS S EFFECT ON BUSINESS to the business mans man with enor crops commanding tho the highest prices ever known with every kind of busi business nesson on a safe and sensible basis with stocks of all kinds at al most moat nt at a with everybody desirous of malting making good all tho the feces sary eary improvements Improve menta which tho the past two years depression would not permit of and to nil jill up stocks which have been almost depleted with plenty of money and credit to do all these things there Is a hesitation by the greater part of the business busl noaa community for tho the reason mason that something borne thing has appeared calling a hall in tho the progress which had bad so fairly started in the latter halt of 1909 tho the ono one great and mostaa most apparent pa rent element which has caused this hesitation Is that the railroad corporations po rations of this country have stopped tho the purchase pur chasa of anything beyond their immediate necessities so much so that betterments which had been projected which are not only betterments but in a great many cases baana are almost or soon will be necessities amounting to over one thousand millions of 0 dollars havo have been held up it Is customary for railroads to prepare their budgets ot of expenditures expend turca january lot if these budgets had been prepared on the lines of necessities the outlook for general business particularly among manufacturers would bo be exceptionally good for 1910 these budgets have bavei not been presented and are not within tho call or oven even within the sight of who would gladly welcome them and it is doub doubtful trul when wo we will bo be ablo able to mako make any reason able forecast in the manufacturing ring and commercial world it Is unquestionably true that the railroads would gladly enter into a year of liberal expenditure but as matters stand now BOW it la Is quite possible that they will bo be compelled to drop back into the condition they were in tho the latter part of 1907 and during tho the year 1908 that Is purchase nothing except that which la Is absolutely essential and tho the reasons aro are exactly the samo as those that existed in the tha early part of 1007 1907 that la Is radical railroad regulation our legislators seem to be unmindful of tho the causes ot of tho the depression of and 1908 and give every indication of entering reentering re ro the field with even moro more lava to interfere with and discourage tho the investment of money in railroad enterprises whether it bg be for increases or improvements in existing lines and absolutely calling a halt on now new projected r railroad broad a enterprises and the railroads have not reached the tha position that they now occupy through any concerted plant plan they all renewing their trucks tracks and equipment that tho the recent depression would not permit of this in the face of a very general actual or threatened demand d for largo increases in the tha wages of their employees and knowing that the tha only way hey chev can grant those advances will be by a corresponding advance in their revenue and tho the only way in which they could increase their revenue would be by raising their rates and certainly the outlook for this Is far from promising they bava no certainty as am to tho the character 0 of legislation to come they are in positive fear of congress and aro are warranted in that fear by special bills already introduced which to Is a suM sufficient elent cause for them to hesitate they are not certain that tho the people generally would favor any increase in rates and they are equally uncertain as to whether the public would not aldo with labor in its ita increased demands demanda upon tho the railroads they feel ns as alt all owners of property naturally would feel that the earning capacity ot of their property to is now absolutely dependent upon the manner in which they shall be governed they do not know what that government Is going to be they are arc almost positive that there wll will bo be no le Ib lation which will cause an in creased desire on the part ot of to put their money into railroad prop artles they have been given to un ui der stand that probably thole thedr borro azg capacity Is a to bo be limited tn narrow lines by tho the Govern government mente so BO that even it they were willing to make these expenditures it would bo be biffl cult for them to obtain the necess necessary arr financing in fact looking at i 4 from any point the owners of rill rall road rond property have nothing to see that would encourage enco them in spending any anny money until they have a more definite idea As to what extent they aro are going to bo be con on trolled strolled and directed by tho the national government and under such euch arrum orrum stances all ot of tho the vast industrial ah cn torp rises that aro are depending upon tho the railroads will find that at the lime isme that their present orders ordera upon which they are working issued como mix alx lx months ago when it was waa not dreamed of that the present adverse condit lonis could possibly arise will have baye been completed that wo we wll will again be la in practically tho the same position that TO were in during the early part ot of 1808 1908 in my judgment unless congress Coti greeB restrains its ita interference with tho the earn ing capacities ot of the railroads rall ronda thera theli will be ft a permanent setback set back in the general business of the country that it may take years to overcome some congressmen think that the railroad lail road interests are tho the real forte that la Is behind the rapidly growing unrest of the business men regard divic fc legislation this la Is absurd wo we need no spur to wako wake tie up to our dunate situation which la Is by no monne moans confined to railroad supply institutions thora there are railroad employees plo it takes men mea to supply what the railroads need and a vast number of men are employed in supplying tho the personal needs of me to above men every kind hind ol of business Is in dependent la in some radam uro on railroad prosperity tho the producers of wool cotton tobacco sugar and many other special articles in this country havo have so no interested te themselves in n their busan buBl neBB ss that at they havo have forced tho the Gen general crall government to put a special especial protect ivo ive tax on tho the things they produce which wo we and our employees who do not produce them havo have to pay for and to many of which we do da not ob led on tho the samo same principle and for tha same reasons when business men become UH as active in looking after their interests Inter cata and with tho the mame earno wo can ind induce 11 ce tho the general govern ineat to give us ua equal protection liy by or aro we of ayr ro venue to anke profet to enable to buy a nil full plenty of tho the gooda ancy need which we manufacture this will vill involve no special tax will mean bei belter railroad nerv service loo and moro more business for everyone particularly tho we working aking man and whon when it Is consid cred that in reality 80 90 of all tho the money received by the railroads rall roada and ourselves goes directly to the borkine people wo we should havo have tho the solid endorsement dorso dor ment and individual support of every working man in tho the country cause tho the trouble with the whole situation la Is that many maly of the men who ran mako ko tho the laws are ara not familiar with thy tho true inwardness of the relations lons and dependence depend enco which the turing and business interests havo have upon tho the general railroad situation nor do they realize that in administering their so called discipline to the railroad companies that wo we are the ultimate consume con sumora ars of that discipline remedy it la Is of tho the greatest importance that some decided action bc DO taken by the government nt at as early a date as possible as there will bo be no lin provement pro u until this uncertainty has bab been overcome january 22 1910 T A GRIFFIN |