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Rh and on the sense of justice and fair treatment of the railway-user. The railway-owner if he does not like his investment, cannot shut up shop and wait a while until business is better. He cannot even abandon his business and pocket his loss. He must go on, whatever the conditions may be, with the hope that the ultimate good sense and justice of the American people will give him even a part of that protection and encouragement that is given to those who may be engaged in agriculture and in manufacturing.

Then, in 1909 there were 8,831,863 depositors in savings banks, having $3,713,405,710 on deposit. In 1908 there were 25,852,405 separate life-insurance policies held in this country with a face value of $14,518,952,277. Every savings-bank depositor and every holder of a life-insurance policy is interested in having railway securities safe and profitable, because the savings banks and the all life-insurance companies are holders of railway securities, and anything that affects the welfare of those two great institutions affects Rh