Daily Ohio statesman. [volume] (Columbus, Ohio) 1855-1870, 1866-12-24
Tha RnlIrond Iaterest,

aaures In relation to this subject. tap
pcars that our people have invested more
than $1,000 900 In railroads-one half OF
which consists of share capital, and on the
whole Investment in this share capital not
two and half per cent. per annum has
been realized. In numerous roads the
whole capital has been completely sunk
while those who own many of our most
prosperous roads purchased them for COM
paratlvely mere triaeT-the enterprising |
persons who furnished the means to con-
strnet them having safferedla total loss. =
There are one, hundred and forty lines Of
railroad in the ten Northwestern, States,
and Of these one hundred and forty lines
/ only twenty pay dividends. The whole
capital invested in, these one hundred and
twenty roads is s5l7,9O2sO5, and dividends
are only paid by companies whose roads
cost $l37.6l7,9O1. The lines which. cost
$3.50, ,S24 600, pay no dividends whateyer.-1-I
The railroads Of Missouri are cited as baying
cost $50, 600, 900, and as having never yield
ed cent ON their share capital. and hardly
| a dollar. on their. cost. This sum alone, in
| vested and sunk in railroads in one State,
equals that which, according to the wool,
I men, Is invested in the WOODEN lnanufac-
/ tures OF the whole United States. Fifty
millions of dollars have been invested and
sunk in railroads Ia Iowa. In Wisconsin
the railroad Investments have not been
much more remuneratiVe. Not one
half Of the share capital Of the
railroads Of Illinois pays. OF the
Sl3l, ,S72, 472, invested in railroads in Ohio,
dividends are paid only on lines costing
/ $44749,7 1885,. In Indiana $72,377, ,4S0 are In
vested ID railroads, and dividends are paid
by lines which cost $l7,S97, ,706. While
| railroads have not benefited the original
stockholders, aud while at best they do not
pay'a large percentage, they have never
theless been Ofiinealculable advantage to
| the country through they pass--en-
| hancipg the lands for miles round. 1t oc-
curs to the Nel0 York Ersnin0 Post that
while the manufacturing interest of tie
country, which Is an insignificant interest
as compared with the railroad interest, is
clamorjng for protection from Congress,
the railroad interest sets up no such clamor
| for itself. ruw g1gags4ys i.lr
To the same cause that the sufferings OF
the wooden manufacturers are ascribable,
are the suffsrings of the railroads ascriba-
ble-high prices ofraw material and wages.
Through Congressional legislation they are
compelled to pay from $T5to 500 per ton
for the rails, which formerly cost them
from $40 to $50; locomotive engines, which
formerly could be bought for $500, now
cost $2O,000.i Itis estimated that the rail-
roads employ two hundred thousand men,
and that at least million Of men, women
and children are dependent upon them for
I their support, their food. clothing, shelter
and education. Notless than fifty millions
Of dollars are disbursed to the workmen by
the railroad companies. g.rF -Hs
m 1t does seem one of the. strangest things
imaginable, that this railroad interest,
2 switch supports more people than all the
( iron and wool manufacturers together,
which adds more, directly, to the value of
farming lands and farm products, than
three times all the iron and wooden manu-
facturers in the country" should be SO blind |
to its own interest as to with almost solid /
unanimity throw its influence in favor of
party whose legislation and general policy
are SO adverse to it. What are called pro-
tectiVe and prohibitory tariffs are detri-
mental to railroad interests. The Congress
sional policy Of reconstruction is opposed
to that interest. Before the War, it is es-
timated that the South annually paid the
sum Of eleven millions Of dollars In the way
of freight to Northern carriers to carry
forward to market her products; and, cer-
tainly, the freight paid on goods purchased
In the North must have been very consid-
cradle. 1t is, therefore, for the interest of
railroad companies that protective or pro-
hibitory tariffs should be superseded with
nothing beyond q revenue tariff, and that
the South, should as speedily as possi7
bic beputointo proper condition. AS q
matter Of course, this cannot be done
through the policy of the Radicals, which
seeks to unsettle everything that has all |
ready been done toward putting the South |
In temper that win induce her to take |
hold theoretically to build up her waste |
and desolate places, and deyelope the re-
sources of her country generalIyc Not only
is it to the interest of our railroad COM
panies that this should be done. There is !
scarcely any other interest that will not be |
either directly or indirectly benefited |
thereby. Were the South to embark !
largely In manufacturing, itiwould operate
seriously against the manufacturing and |
the railroad interests of the North. 1t
needs but little reflection to convince any |
one of this who is not lanentably mentally |
blind. 500 III r colt, s,e sa.e. |
y IT appears to be the opinion Of the Gin
cinnati, Commercial that Congress Is likely |
to fall I'm contempt with the people, and |
would fain have the members, during the |
holiday recess, learn wisdom and modera-
tion from contact with their constituents.
"A beautiful set Of Congressman they must
be, truly, II it Is necessary for them to re-
turn to their constituents once in twenty
days for something like wholesome instruc-
tion. II they shall return to Washington