THE WORLD'S OCTOBER, 1913 LUME XXVI NUMBER 6 R THE MARCH OF EVENTS ETRIBUTION has come upon the New Haven Railroad for its attempt to monopolize all the transportation agencies in New England. A terrible ies of wrecks, culminating in the reard collision at North Haven, Conn., ich killed more than twenty people, complete evidence that in equipment d in management this road has not lived to the ever increasing demands that e made upon it. It is in need of new nd costly equipment. In financial centres eople feel (in the words of the Wall treet Journal) that "the underlying cause or inability to handle an enormous presure of business without accident is the ontinued assaults upon credit by politians and notoriety seekers, which makes e raising of new capital for necessary xtensions almost an impossibility." But the cause of the New Haven's ilemma lies far deeper than the hostility f politicians. The New Haven had raised" all the new capital that it needed o increase its facilities and to make its peration safe. But it spent the money or trolley lines and steamships. The lirectors of the road used its credit to establish a far reaching monopoly. The The wiser railroad men confine their energies to operating their roads, and in this growing country this task affords a wide enough scope for even the most constructive genius. Excursions into other fields have not proved successful. Railroad meddling in politics was a boomerang that produced a violent anti-railroad feeling that expressed itself in legislation. which contained as much anger as wisdom. Railroad excursions into monopoly and high finance have wrecked many a road in the past, and even under Mr. Harriman's leadership such practices have not proved a lasting success. We should not need any more examples to prove that railroads should stick to the railroad business. Copyright, 1913, by Doubleday, Page & Co. All rights reserved THE FIRST GOVERNOR-GENERAL OF THE PHILIPPINES UNDER A DEMOCRATIC ADMINISTRATION, WHO HAS GIVEN UP HIS SEAT IN THE HOUSE OF REPRESENTATIVES TO TAKE UP HIS NEW DUTIES |