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The Idaho Scimitar. BOISE, IDAHO, JANUARY 18, 1908. No. 12. Vol. I. Two Wrecked Railroads. The opening of the new year, bringing the cus tomary annual settlement period and producing a scarcity of ready money even in good times, left upon the breakers that encompass the harbor of safety the wreck of two extensive railroad properties. Seaboard Air Line, financed into inextricable con fusion by Thomas F. Ryan, passed first into the hands of receivers, and the Chicago Great Western, man aged by A. B. Stickney, followed a few days later. The Seaboard Air Line represents a consolidation of several Southern railroads, with 2,600 miles of track, the main line running between Richmond, Virginia, and Tampa, Florida. This railroad serves The the States of Virginia, North Carolina, Georgia and Alabama and an allied steamboat line connects Balti and Norfolk. The liabilities of the company the 1st of January and the interest and other de to meet all demands upon the company and more amount to $58,000,000, upon which interest matured on The court ordered the mands could not be met. receivers to borrow money for that purpose. Meanwhile, they to control and operate the property. are The Chicago Great Western main line runs from Chicago to Omaha, with a branch line to Kansas City and another to Minneapolis, schedules an indebtedness of $10,653,414, of which $3,342,545 is due or will be due during the current year. About a million and a half of the obligations matured the first of the year and money could not This company be procured with which to meet demands. During the past ten years the company has ex pended $19,000,000 in rebuilding and otherwise im proving the property and it was getting along very well until the financial squeeze closed the shops to which the big operators repair when they are in need of more money than they possess. Both of these railroad collapses can be attributed to the panic and the boast of the optimistic that the usual slaughter of railroad enterprises would not accompany the existing financial distress has not been made good. The failure of the Chicago Great Western will be generally regretted than that of the Seaboard Air Line, for it was an independent railroad and of great annoyance to the Rockefellcr more was a source Morgan-Ryan interests. It built markets where the combine said no markets should exist and it out rebated the rebating lines of the West. Mr. Stickney, its president, has been an open ad vocate of the policy of Government regulation of rail roads and has advanced many reform ideas that have met the approval of the mass of the people, generally That Mr. Stickney was appointed one of the re of his own road is evidence of the confidence considered the legitimate victims of the robber com bine of New York. ceivers of the court in the integrity and capacity of the man. He may be able to place the Chicago Great Western on its feet. Taft At New York. it was understood when Secretary Taft accepted invitation to deliver an address at the People's Institute in New York that he would define his po sition on the important issues before the people. His address was delivered last Friday night and the secretary did not very clearly commit himself in the important particulars. Great aggregations of wealth, he dclared, were both good and bad. They were good when properly employed and bad when improperly employed. He was in favor of labor organizations when they were an for the common good, and said that the workingmen were privileged to strike without violence and to in duce others to strike through peaceful persuasion. The boycott of the unions and the blacklist of the employer were condemned. Mr. Taft defended the injunction, of which he was one of the pioneer ex ponents, while saying that it had been greatly abused. He declined to discuss the tariff and the Browns ville incident, opposed Government ownership and said it was yet too early to enforce an income tax. Mr. Taft did not assume the attitude of one that would take up the policies of President Roosevelt in the New York speech, and he has not in any speech. If the people take him, they will do it on faith and on the presumed recommendation of Mr. Roosevelt, for he has never committed himself to the reforms that are loudly demanded. His New York speech was a disappointment in its omission of several expected declarations, without which the peo pie will not rally to his support. The President of the United States said, a few days ago, that Mr. Taft would have on the first bal lot in the Republican convention 600 of the 980 votes. If so, he will be nominated, and without much doubt he will be defeated at the polls. He is not the strongest man in the Republican party. . Industrial Disaster. The Appeal to Reason, a socialistic newspaper of extreme views and rather violent conclusions, yet as reliable, probably, in its information department as any publication, makes a statement in a recent issue that has a bearing on the hard times precipi tated by the panic of October. It asked its readers to report bank failures, the closing of mills and mines and factories and wage reductions in their respective localities and it says it is unable to follow out its intention to publish the reports, because they would take up more room than it can spare. It says the information it intended to give to the public would occupy sixteen news paper pages of seven columns each, set in the smallest type. In the same connection there is published an ex tract from the Wall Street Journal of December 17th, which says : averages $378,000 a day, as figured in Dun's Review. For the four months, beginning with August and ending with November, the hand of adversity has not been lightly laid upon the manufacturing enter prises of the country. During these 122 days the amount of indebtedness represented in the failures Not in six years has there been so heavy a total of failures as these, in which the monthly average was $11,300,000. The corresponding monthly aver a g e f or 1906 was approximately $3,750,000. The information given by these two authorities, representing opposite extremes of society, inclines one to the belief that the dinner pail that was slowly filled under the auspices of the Republican party has been suddenly emptied, with the same party in con trol of all branches of the Government and with the highest protective tariff law the country ever ex perienced upon the statute books. The conditions that have prostrated the country prove very conclusively that it has placed far too much dependence on a party that has had a remark able run of luck during the half century of its ex istence and far too much dependence on the prize policy of that party. No political party can guarantee the full measure of prosperity to the various classes of our popula tion, but any party that will honestly and conscien tiously exercise the wisdom imparted by experience will be able to avoid such calamities as the country is now experiencing. For years past, Republicanism has been tempting the fate it has finally encountered. It has been leg islating in the interest of a favored class and ignor ing the necessities of the great mass of the people. Its crowning iniquities were the enforcement of a new monetary standard after the struggle of 1896 and the enactment of the Dingley tariff of 1897, both procured by special interests and for the exclusive benefit of those interests. The country was able to endure its legislative and executive excesses for many years, being upheld by its wonderful industrial resources and by its ability to conceal real conditions and maintain a fictitious confidence in the present and future. But when the chief magistrate, fearing the ultimate effect of the policies of his party, undertook to reme dy some palpable evils, he laid bare to the financial world the dangerous weakness of a system enthroned in dishonesty and rapacity. He ought not to be severely blamed for the disasters that followed. He might have concealed them until another presidential election had continued the power of his party. But their ultimate exposure was certain, for a nation cannot follow the wrong road any great distance, and the mass of the people were beginning to exhibit uneasiness and dissatisfaction as the party continued to lead them astray. A year or two of adversity must ensue under the most patriotic management of the affairs of the Nation. A much longer period of uncompensated toil and attendant suffering will follow if the party that caused the panic is continued in the position of a governing force. It is now engaged in an effort to bolster up the fortunes of the special interests, with characteristic disregard for the general inter ests, by the enactment of a new currency law that offers a stone in place of the bread the people are demanding. One cannot view the existing industrial condition with any faith in the claim that the Republican party is affording protection to American labor or to any of the producing classes that are building great fortunes for a favored few. President Parkinson Sustained. Twice within the past few weeks The Scimitar has suggested to the Mormon establishment the pro priety of taking action in the case of George C. Parkinson, president of one of the stakes of Zion in Idaho, that the claim of President Hyde, another stake holder, might be exemplified. President Hyde has assured the public that the church always pun ishes departures from the straight and narrow path— not once in a while, but always. It is said by the Pocatello Mail that the church has taken action in the case of President Parkinson —that it took action at a conference recently held at Preston—that it decided to sustain him for the ensuing three months, during which the financial affairs of the irrigation district Mr. Parkinson rep resents officially are to be investigated. The church is much more tolerant than Governor Gooding has manifested himself to be. It wants to be shown, while he concluded he had seen enough to warrant a resignation and, while Mr. Parkinson is still president of a stake, he is no longer a regent of the State. He will therefore continue to point the way to salvation under the auspices of the hierarchy, al though he is not good enough for Gooding.