Watson's weekly Jeffersonian. [volume], June 06, 1907, Image 1

About Watson's weekly Jeffersonian. [volume] (Atlanta, Ga.) 1907-1907

Image provided by: Digital Library of Georgia, a project of GALILEO located at the University of Georgia Libraries

                
EDITED BY
THOS. E. WATSON
A
Vol. 11.
'Better Watch Out! The Cat Tlay Jump.
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DRAWN BY GORDON NYE.
(The New York American.)
President Roosevelt’s Memorial day
utterance on his railroad policy was
supposed to be designed to reassure
Wall street.
Just why Wall street should need
any reassuring is not apparent to the
uninspired intelligence, but certainly
if it can be reassured in this way no
one need worry about its state, for It
The Amazing, Economics of Memorial Day.
Atlanta, Ga., Thursday June 6, 1907.
can be reassured by anything.
The president has been good
enough at times to reprove the
thoughtless for “loose talk” about
grave economic matters. It is pain
ful, therefore, to find this renowned
teacher speaking thus of the overcap
italization of railroads, which is the
gravest of all economic matters con
fronting this nation:
“The census reports of the commer-
cial value of the railroads of the coun
try, together with the reports made
to the Interstate Commerce Commis
sion by the railroads on their cost of
construction, tend to show that, as
a whole, the railroad property of the
country is worth as much as the se
curities representing it, and that, in
the consensus of opinion of Investors,
the total value of stock and bonds is
greater than their total face value,
notwithstanding the ‘water’ that has
been injected in particular places."
The total capitalization of the rail
roads of the United States is $14,000,-
000,000. The total cost of construct
ing and equipping these roads, and
therefore the total legitimate invest
ment in them, was less than $6,000,-
000,000.
Will some one please kindly ex
(Continued on Page 13.)
No. 20.