President BAKER--Ladies and Gentlemen: We have with us today a truly representative man of our Southland, Mr W. W. Finley, President of the Southern Railway Company, who will address us on "The Interest of the Railways of the South in Conservation." (Applause)
Mr FINLEY--Mr President, Ladies and Gentlemen: The interest of the Railways of the South in Conservation and the interest of the people of the South in Conservation are identical. I will go farther, and state my unqualified conviction that any economic or governmental policy that is, in the last analysis, to the best interest of the people of any community is to the best interest of the railways by which that community is served. Conversely, my conviction is equally strong that any economic or governmental policy that is harmful to the railways is harmful to the communities served by them.
Therefore, Mr President, in all that I say on the topic assigned to me--"The Interest of the Railways of the South in Conservation"--I must be understood as presenting what I believe to be the interest of the southern people.
I am not sure that the expression "Conservation of natural resources" is everywhere understood in its broadest sense. I think that to some minds it conveys only the narrow idea of the withdrawal from present use of some part of those resources. However important that kind of Conservation may be in some localities and under some circumstances, I do not believe there is much occasion for its application in the part of the United States for which I am expected to speak--the States south of the Ohio and Potomac rivers and east of the Mississippi. I would define the type of "Conservation of natural resources" that should be applied in that section as being the wise use of those resources. In some cases it may involve a measure of present self-denial, as when, in the case of an owner of forest lands, it impels him to cut only the matured timber and leave standing immature trees that have a present market value; but, in that case, it leaves him with an asset which increases in value with each year's growth of the standing timber. In some cases Conservation may mean the use of resources so as to obtain the maximum present profit, as in the case of soils; for I believe that I am supported by the best scientific and practical authority in saying that soils not only preserve, but increase, their productivity when so handled, in the application of fertilizers, the rotation of crops, and the growing of live stock, as to yield the maximum present profit.