TWENTY-FIRST ANNUAL YEAR BOOK— PART VII 597 



evidence in practically all lines of commerce and industry." The rail- 

 roads are quite an industry in the country, aren't they?. The second in 

 importance in America, next to agriculture. 



I have in my hand here a statement — I don't like to have you folks 

 take my own personal statement too much, because when attorneys or 

 statisticians and folks get to talking on two sides of a proposition, they 

 are liable to lose the confidence of the public. I suppose sometimes you 

 think both of them are straining things somewhat, and can hardly be 

 trusted, when you hear people arguing on both sides of a proposition. 

 That is why I like to give the authority itself, and that is why I lug my 

 papers and documents along with me when I go places. 



Some time ago there was a colonel at the head of a regiment here 

 in the United States somewhere, and a darky soldier come into the colo- 

 nel's tent one day and said: "Colonel, suh, I's gotta have a pass, my wife's 

 sick an' she's going to die; I gotta go to see my wife." The colonel said: 

 "That's the same story you gave me last week, isn't it?" and the darky 

 replied: "Yes, but Colonel, I's just gotta go; she's in miserable shape. 

 I got word she's not expected to live." The colonel said: "That's all a 

 lie; I saw your wife yesterday, and she said she didn't want me to be 

 giving any more passes to you; she's just as well as any woman." And 

 the darky says: "Colonel, was it my wife said that to you?" And the 

 colonel replied: "Yes, sir, your wife." "Are you sure?" insisted the 

 darky; and the colonel answered: "Yes, sir; she said it was true you 

 had been lying about it, she wasn't sick at all; you came home and beat 

 her up, and she didn't want you coming home any more." The darky 

 saluted and said: "All right, all right," and he started to leave, and just 

 before he left the tent he turned around and said: "Colonel, you and I 

 are two of the blamedest liars in this whole army. I hain't got no wife 

 and never had one." (Laughter). 



Sometimes it may be that you think that folks quoting statistics and 

 statements on both sides are liars. (Laughter). I am not going to ask 

 you to take my word about the effect of the transportation act upon 

 railroad earnings, but you folks have heard, haven't you, that it didn't 

 increase railroad net earnings. You have also heard, haven't you, that 

 tiiat advance was asked and given to take care of increased wages? I 

 have in my hand a bulletin issued by the railroad executives of the United 

 States, under date of November 18th, to the following effect: 



"A compilation completed today by the Bureau of Railway Economics 

 — which is supported by the railway executives — shows that the net op- 

 erating income for September for Glass A railroads of the country fell 

 approximately $29,000,000, or 26.9 per cent, short of the amount expected 

 to be earned under the increased rates fixed by the Interstate Commerce 

 Commission in accordance with the transportation act. The figure is 

 based on reports from 207 railroads of that class, having a total mileage 

 of 237,899 miles. The net railway operating income for the roads for 

 September totals $7B,876,000, a gain of only 2.8 per cent over that for 

 the same month in 1919. Despite the increased rates, it was also ap- 

 proximately $4,800,000 above the standard return which the railroads 

 V. ould have received had they still been operating under the guarantee 



