SPEED THE RAILROAD BILLS

In one bold stroke ten days ago, President Wilson swept aside the delicate fabric of private ownership and competition under Government supervision which has controlled the railroads of the country for the past generation. The plan which he set forth in his proclamation was received with approval by the bankers of the country, and was willingly acceded to by the roads as the best thing to be done in the present unprecedented circumstances.

Under the powers granted him by the Act of 1916, however, the President was not able alone to carry out all the provisions of the scheme of Government control which he proposed; he had the power to take over the management of the roads, but he did not have the power to compensate them as he thought just, according to the average of their receipts for the years 1915, 1916 and 1917. This power was placed in the hands of Congress, to whom the President has now turned for such additional legislation as will enable him to carry through his program, and an administration bill with that end in view has been presented to both Houses.

It is not to be supposed that President Wilson is so divinely guided that legislation proposed by him is neither to be added to nor taken away from, yet in this case it is essential that action be quick and that opposition be reduced to a minimum. There is, unfortunately, a great possibility that the same radical elements which have made themselves felt before will oppose the measure on the ground that many roads will continue extravagant management and dividends of unnecessary size; they may do their utmost to so reduce the compensation and restrict the owners that some roads will not be able to stand up under the strain. Such conditions would not only be unjust to bond and stockholders, but also to the railway management which have been endeavoring in every way to keep pace with the recent demands made on them on every side.

The act proposed by the President will of course be passed eventually by a large majority; it is favored by the greater part of Congress as well as by the country. In such days as these, however, immediate action is necessary, and the work which the President is trying to accomplish should not be held up by a few small boys in Congress who, for almost a year, have been making faces at the administration's proposals before they have been put through. Such antics are bad for both Congress and the nation; in the case of the new railroad legislation may they for once be avoided.