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PAGE TWELVE
AS TO UNCLE JAKE’S RAILROAD.
(Continued from Page Nine.)
The Railroad Commission ordered an exam
ination of the property. Uncle Obe Stevens
investigated the four prongs of the Old Reli
able in two days and officially reported that
the O. R. was just as reliable as ever.
But the Herald and the Jeffersonian knew
better, and they did not cease firing.
Nor did the wrecks cease.
Once a week, we had a smash-up on the
Old Reliable.
Then the anonymous expert was sent by the
Commission to walk the track, from one end
to the other.
The report of Anonymous was something
fierce.
. So much so, indeed, that our new Commis
sion peremptorily ordered the management
of the Georgia Railroad to make certain re
pairs within 30 days.
Whereupon Maj. Cumming, with great dig
nity and distinctness, “respectfully declined.”
In fact, the Major was generally understood
to have said to the Commission “You go to
h—ll.”
Here was a kettle of fish, indeed.
To the amusement of mankind, and a few
of the women folks, the new Chairman of the
new Commission, wrote a delightful letter to
Maj. Cumming, entreating that politest of gen
tlemen to take a seat, and to remember what
good friends they had been, and that there
really was no cause for excitement or haste,
and that the Commission really had not meant
to say what it was understood to have said,
and that the apparently peremptory order
was nothing more than a sort of a rule nisi;
and that the railroad could come up to At
lanta, at its leisure and show cause, and so
forth and so on, most soothingly.
Whereupon, Seely of that interesting Geor
gian, declared McLendon’s letter to be a re
markable paper.
And most of us heartily agreed with Bro.
Seely.
And now comes Col. Thos. K. Scott, mana
ger of the Old Reliable, and the Com
mission in substance,
“I denied that any repairs were needed, and
my attorney was instructed to politely defy
the Commission ; but inasmuch as it is necessa
ry to do something to keep down public in
dignation, I now say that the defects which
did not exist have been removed.”
Col. Thos. K. Scott did not tell the truth
when he denied the bad condition of the Geor
gia Railroad—how can we believe him now?
The Commission did not consider his word
good, when he denied the existence of the de
fects. The report of the expert proved that
the Commission had acted wisely in refusing
to believe Col. Scott.
Are they going to accept his word as good,
now?
IF SO, WHY?
The man who believes that Col. Scott has
complied with the order of the commission is
the same man who believed Col. Scott when
he declared that the road was in good condi
tion.
* H H
Honor 'Roll.
Hon. F. D. Wimberly, Cochran, Ga.
(“Blue Fred,” one of the old war-horses of
the nineties.)
J. F. Bush, Star City, Ark.
GET YOUR CERTIFICATE
READY.
Macon, Ga., Dec. 4, 1907.
After a full, free and frank con
ference between the officers of the
Farmers’ Union and the Georgia
Bankers’ Association, looking to an
agreement to control the movement
of cotton, it was understood that
while the officers of the Bankers’ As-
WATSON’S WEEKLY JBFFER3ONIAN.
J. M. Pate, Daleville, Ala.
Thos. B. Parks, Collum, Ala.
Ben. F. Kennedy, Chula, Ga.
M. S. Lancaster, Murrayville, Ga.
F. Yerkes, Veedersburg, Ind.
(To be Continued.)
* n
Editorial Notes.
’By J. D. Watson.
Judge William T. Newman, of the United
States circuit and district courts, has hand
ed down the most sensible decision on the
railroad rate question that has yet been hand
ed down.
When the State railroad commission issued
the order for a reduction of passenger rates
in Georgia, the- Central of Georgia Railroad
hustled to the United States court for an in
junction restraining the commission from en
forcing the order —claiming that the new rate
was confiscatory.
The railroads had done the same thing in
Virginia, North Carolina and Alabama, and
had found a Pritchard or a Jones to do as
their lawyers told them to do. Therefore,
the habit of having a United States judge re
strain a state from enforcing a state law had
become so firmly set that they “hiked” them
seleves to the United States court and asked
Judge Newman to run rough shod over the
State of Georgia, as Pritchard and Jones had
tried to do.
But this time they struck a snag!
Judge Newman has decided that a six
months’ trial of the new rate law will prove
whether or not it is CONFISCATORY more
than the “hot air confiscatory” talk of the rail
road officials and their lawyers.
The decision means that Judge Newman re
fuses to do as the other judges have done—
prophesy what the new law will do. He does
not undertake to decide what is a fact before
it has been proved to be a fact, therefore, let
the railroads try the new rate law for six
months and, if it proves unprofitable, let them
present the facts to the court and ask relief.
But even if the new rate does not yield
profits,'it will not prove that the new rate is
CONFISCATORY. The property is NOT
confiscated until the TITLE and RIGHT of
POSSESSION are taken away from the own
er.
n
Judge Samuel H. Seabury has set a prece
dent in New York City that ought to be fol
lowed by Judges of State courts throughout
the country.
For some time there has been litigation over
some of the street railway systems in New
York City.
As usual, the street railways had gone to
the United States courts to seek relief from
the New York courts, taking themselves away
from the jurisdiction of the State courts.
But Judge Seabury would not have it that
way.
He took jurisdiction any way, taking the ju
risdiction away from the United States courts,
and appointed receivers to take charge of the
street railways.
We are glad to note that one of these re
ceivers is the able and upright young lawyer
who managed the Watson campaign in New
York in 1904. Judge Seabury was one of the
first prominent Democrats of the East who an
nounced his intention of supporting Mr. Wat
son, instead of Judge Parker. And he was
sociation could not commit any of its
members to any line of policy, yet
they earnestly recommended that the
banks and bankers of Georgia co
operate with the farmers in carry
ing out their purpose as far as their
individual ability would permit, and
that it was their belief that if farm
ers should take their cotton to ware
houses and get receipts therefor, they
could take those receipts and adjust
with creditors their obligations by
creating new obligations based upon
cotton receipts as collateral.
Joseph S. Davis,, Pres’t. Ga. Bank
ers’ Associations.
L. P. Hillyer, Secretary Ga. Bank
ers’ Associations.
R. F. Duckworth, Pres’t. Ga. Farm
ers’ Union.
J. L. Barron, Sec.-Treas. Ga.
Farmers’ Union.
faithful to the end.
Judge Newman has sanctioned the view for
which the Jeffersonian has all along contend
ed—that judges who enjoined states because
of rate regulations were assuming to act as
prophets rather than as judges.
Let him study the question more profoundly
and he will agree with the Jeffersonian in the
further contention that no law can be confis
catory which does not dispossess the owner
and destroy his title.
Those who are claiming that clearing house
certificates are as good as government money,
have evidently overlooked the accounts of the
experience of some Americans in Europe.
Some of these travelers went abroad, as
most travelers do, with most of their money,
deposited in banks at home and taking letters
of credit instead of the cash money with them.
Things went well until they needed money,
and then they found themselves up against it.
The New York banks were issuing clear
ing house certificates in place of money, and
the foreign bankers did not care to let out their
real money on letters of credit from such
banks.
The traveler could not relieve his condition
by cabling to New York for money for the
New York banks would not pay out anything
but clearing house certificates.
Thus the traveler found himself a stranger
in a strange land without money or friends
to help him get home, and sometimes without
enough to pay his hotel bill. Some incidents
are cited where travelers have been forced to
sell their belongings in the way of wearing ap
parel to get enough money to pay their pas
sage back to the United States.
Yet you hear people say they had as soon
have a clearing house certificate as a ten dollar
gold piece.
The Chicago bankers and the New York
bankers seem to have lost a little friendship
over the recent money troubles.
The Chicago bankers make the startling an
nouncement that the New Yorkers played a
slick little game on them.
According to the Chicago bankers this is
the way it was done:
The New York bankers persuaded the Chi
cago and other western bankers to deposit
their money in New York, as most banks’
throughout the country do.
W hen their money was safely in the hands
of the New Yorkers, the New Yorkers kept
it.
When a Chicago bank wanted its money
back, it got New York certificates instead—
leaving the Chicago banks, and the banks
throughout the United States, without money
and forcing them to issue certificates too.
In the meantime, the New York bankers
were making loans with the other banks’
money and getting a big rate of interest for
it.
Quite a slick game, and one that may not
have been given away had not the rascals in
the two cities fallen out.
n
The silk-hatters who put out these nasty
little Clearing House Certificates, when 'they
are in honor bound to give depositors their
money, should be given a tase of the criminal
law.
J. G. Eubanks, Bus. Agt. Ga. Farm
ers’ Union.
(Note: The New York bankers, not
being able to pay their debts, issued
Certificates to that effect and sent
them out to circulate as money. Wlwt
the bankers did, the farmers are go
ing to do. Next will come somebody
else. Oh! what a fine time we are
going to have!)