Dividends and wages should go up together; and the
relation of rates to them should never be forgotten. This of course does
not apply to dividends based on water; nor does it mean that if foolish
people have built a road that renders no service, the public must
nevertheless in some way guarantee a return on the investment; but it
does mean that the interests of the honest investor are entitled to
the same protection as the interests of the honest manager, the honest
shipper and the honest wage-earner. All these conflicting considerations
should be carefully considered by Legislatures before passing laws. One
of the great objects in creating commissions should be the provision of
disinterested, fair-minded experts who will really and wisely consider
all these matters, and will shape their actions accordingly. This is one
reason why such matters as the regulation of rates, the provision for
full crews on roads and the like should be left for treatment by railway
commissions, and not be settled off hand by direct legislative action.
APPENDIX
SOCIALISM
As regards what I have said in this chapter concerning Socialism, I
wish to call especial attention to the admirable book on "Marxism versus
Socialism," which has just been published by Vladimir D.
Pages:
799
800
801
802
803
804
805
806
807
808
809
810
811
812
813
814
815
816
817
818
819
820
821
822
823