Is it not plain then that Confiscation, when it gets through with this
railroad owner, will have made the counties where it is located its
owners, both of the property itself and the income which it earns? Is
this Government ownership of railroads? That term as now understood
means buying the railroad, and it is the millionaire we are trying to
get rid of, but he is still here if you take his railroads and give him
something better. We have already said that private ownership should not
have been allowed, and we would now confiscate them without any
reservation whatever if it were not for the thousands of small investors
in their securities and as these small investors must not be injured, we
are compelled to leave the railroads in the hands of private owners, as
buying out even these small owners would cause a national debt such as we
had better steer clear of. But it is not essential to the welfare of the
people that the Government should own the railroads. The point we wish
to bring out is, that the wealth and resources of the country has found
lodgment in a few hands, whereas it should be scattered among all the
people, and as long as they are getting the benefit it will matter
little to them whether they own it in their Governmental capacity or as
individuals, and the counties even are not to hold on to the forfeited
excess, but must dispose of it as fast as the people are able to buy.
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