and of stationary or falling rates, the task of furnishing the efficient transportation the American people must have is becoming more and more difficult.
The individual has invested money in railroads in the past for the same reason that he has invested in other business, — with the hope of profit, — and there have been great losses to thousands of people because their investments turned out badly. Take away the hope of profit and the individual will not take the risk of loss. In five years, 1904–1908, the investor has taken up railroad securities amounting to $4,167,554,569, or an average of $833,510,914 per year. The growth of this country should be so great that a like sum or more will be needed annually for a number of years if transportation is furnished in sufficient quantity. If individuals do not furnish the money, who will? Enlightened self-interest should persuade business men to see to it that investment in railroads is made attractive enough so that money will seek them freely.
“The laborer is worthy of his hire,” and the
