New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1867-02-04
R4LLRO1D MONOPOLY.

A mere local rivalry between the Camden
and AmbOy and the New-Jersey Rail
road Companies has hitherto been the only
protection of the travelling public against these
gigantic mOnopoes. The history OF thor long
quarrel, which we elsewhere publish, will show
that tho fear each felt of the other
resulted in the limitation of the influence of
both, and therefore to the extent of
that limitation, in the benefit of the
public The Camden and Amboy Company.
wishing more direct communication with New
York than it can obtain by steamboat from
Amboy desired an extension of It's road from
New brunswick to the Hudson. This pro-
ject the New-Jcrsey Company successfully
opposed, while for itself, it sought to
extend its line to Philadelphia by n road from
! New Brunswick to the Delaware River at some
point above Trenton. The Camden and Amboy
influence in the Legislature defeated this plan,
and for years the two companies have defended
| the public against each others encroachments.
But it was impossible that this rivalry could
continue; the mOnopoies were not 80 much
! the enemies of each other, as both were enemies
of the public the real danger was not in the
increased power of either, but in the growing
hostility of the public TO both. We arc not
surprised therefore. to learn that the
Directors of the two corporations have
consolidated them into one monstrous mo-
n0pOly, in which the stock OF each will be
the property of the stockholders of both, and
the management entrusted to joint board.
This arrangement only needs tho assent of
two-t thirds of the stockholders certain to be
given, and of tho Legislature, which, except
in questions of rivalry, has always been the
obedient servant of the companies
Thus New jersey is to be surrendered to this
grasping tyranny, the power of which is doubled
by consolidation. If, while fighting each other
constantly, the two companies could unite to
govern the Legislature, to shape the indus
trial policy of the State to swell their own
dividends, to crush all healthy and independent
railroad enterprise, to retard the local railroad
improvement of the State, to impose what
terms they pleased on Ncw-York and Philadcl
phia, to rule even the politics of the State, and
elect Legislators and Governors and United
States Senators at their will-if they could do
all this divided, what can they not effect
united Instead of two grants there is one,
and the power is not merely doubled by union,
but indefinitely multiplied. New-Jersey lies
PROSTATE under the feet of this colossal cor
poration; but if that State alone were in
its power the evil endured by its pco
pie might be borne by Others But
the railroad tyranny OF New-Jersey has been
more than n State affair; it is national.
New-York suffers an unreasonable incon-
venience and loss from the power Of Camden
and Amboy over her Southern commerce and
travel; Philadelphia, Baltimore, and Washing
ton, in the bulk of their business with this city
and State, are controlled by IA Ncw-Jersey Board
of Directors. Such vast power should be held
by no State-much less by few capitalists, who
care for the general interest only as far as it is
their own.
The State taxation on these railroads is, in
fact not upon the railroads, but upon the pas
sengers and merchants who, for want OF other
transportation, are compelled to use it. A
direct and unconstitutional tax is imposed on
each passenger and on each tun of freight, and
all the arguments of the monopOlists have never
been able to prove to the contrary. The best
they could attempt was TO show that this I'M
just privilege-tllis absolute exemption from
taxation on its proGts-was not abused by
the Camden and Amboy Company. If,
hitherto, we have had high rates with
rival companies, is it not reasonable to
expect increased rates with monopoly
above the fear of any competitionf 1t
promises to withdraw from politics; but what is
q such promise WORTH The unrestralned power
to exaggerate every evil and abuse, VIGOROUSLY
exerted in the past, still exists, and we have
not particle of faith in the virtue OF any
monopoly confronted with the temptations OF
wealth and power.
This consolidation Is intended 10 meet q
danger to the Camden and Amboy Company.
Ii is tue frst step toward repudiatlng tho