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It has become entirely clear that we must have government supervision of the capitalization, not only of public-service corporations, including, particularly, railways, but of all corporations doing an interstate business. I do not wish to see the nation forced into the ownership of the railways if it can possibly be avoided, and the only alternative is thoroughgoing and effective legislation, which shall be based on a full knowledge of all the facts, including a physical valuation of property. This physical valuation is not needed, or, at least, is very rarely needed, for fixing rates; but it is needed as the basis of honest capitalization. It cannot be too often repeated that in this country, in the long run, we all of us tend to go up or go down together. If the average of well-being is high, it means that the average wage-worker, the average farmer, and the average business man are all alike well-off. If the average shrinks, there is not one of these classes which will not feel the shrinkage. Of course, there are always some men who are not affected by good times, just as there are some men who are not affected by bad times. But speaking broadly, it is true that if prosperity comes, all of us tend to share more or less therein, and that if adversity comes each of us, to a greater or less extent, feels the tension. We are lost, lost,' said Gollum. 'No name, no business, no Precious, nothing. Only empty. Only hungry; yes, we are hungry. A few little fishes, nasty bony little fishes, for a poor creature, and they say death. So wise they are; so just, so very just