HARRASSED BY PROSPERITY.

Taranaki Daily News, Volume L, Issue 60, 6 August 1907, Page 4

HARRASSED BY PROSPERITY.

AMERICANS "MAKE TOO MUCH MONEY." Xew York, June 13. Mr James J. Hill the railroad magnate, predicts,' in an interview to-day, that the United States Government will be forced to lend its credit to finance the needs of American railroads. "J'lie American public, in its exasperation, w ill demand that the railroads shall lay certain rails and provide more cars for the railroads. The railroadwill answer that they cannot, as their credit has been ruined, and the Government will be obliged to step in and lend its credit to supply the deficiency. The situation might lead to Government ownership of the railroads. "Tile cause of the trouble is thai the business of the United States has outgrown the capacity of its railroads, mid the railroads are in no position to catch up. If men cannot get their freight moved they must cease to produce it." Mr Mill continued: "The fact is.

there is too much prosperity. People are trying to make too much money, and the plants are overworked. The past spring and winter have been the worst season 011 record for broken rails. "During the past seven or eight months the railroads have raised something like 11 an,000,000, Slid most of it went to pay old bills.