Delaware gazette. [volume] (Delaware, Ohio) 1855-1886, 1870-02-11
THE RAILWAY PaoBLnaI
From the New YoEs POST

Under the somewhat inappropriate
head Railway Problems in 1869, -
Mr.. G. r. Adams discusses, in the
North american Revteio for January,
the growing power of railway corpo-
ratiOns, and the dangers 70 society and
the state which he thinks threaten to
grow out of it.
Some of the facts he gives are start
ling. Massachusetts is committed to
to the Hoosac tunnel, and to the Bos-
TOP, Hartford and Erie roads, which
together will cost the State S18, 200, ,000
The precedent once set there seems
likely to be followed, aud there is ev-
cry prospect of an era Of special leg
islati0n, extravaganza and corruption,
such as many other states already ex-
peTience. But the rate at which rail.
way legislation has advanced in Massa-
chusetts, while moderate as compared
with that of some other states, is such
that it has taken but thirty three years
from the time of the first state sub
scrIptlon to the Western Railroad to
bring about the present condition of
affairs, IN which every new railway en-
terprise looks, of course, to the state
for help, and the grant Of is eonsid-
cred as legitimate question Of pub
lie policy.
The United States government has
now entered on q similar career. but
Oh a much larger scale and should
its progress be at the same rate as that
of conservative Massachusetts, has
been, then, by the year 1890. t'the ma
tionai government will be involved in
the affairs of railroad corporations.
Rv~n Fa1~ l4e ~
extent of 5000, ,000,00 IL will fnd
itself compelled to assume directly
the completion, ifnot the management
OF the hopelesslE banka1pt and IN
promising roads and. probably, "the
moral condition of the government
will have become unenduFable. With
such game of grab before specu-
latOTs- it is not surprising that IN the
| hrst i've weeks Of the present Con
gress tWenty-nine bills were introdu-
ced in the Senate alone for granting
subsidies to railroads.
Again, the railways of the country
continually fall into fewer hands.
For example, Mr.. Adams saws Of
| the Pennsy IYania railroad that it "now
owns By perpetual lease a whole sys-
| tenn of roads radiating to all points in
reaches Chicago. by another st. Louis,
and by third Cincinnati. AtIudia9l
apOlis it has absorbed a network OF
routes ; at Chicago it has formed a
connection, which will probably soon
result in a perpetual lease with the
Rock Island which carries it directly
on to the eastern terminus of the Pa
cifc. lie estimates the miles oil
track already held by this Company al
two thousand seven hundred, its prop
erty at $3.50, 1000, ,000-most of It ac-
quired within the last year.
The "Vanderbilt roads" so called
including those which the president
Of the New York Central controls di.
rectly or indirectly, and which are
practically welded by him as one greai
money power, represent nearly five
thousand miles of track and more thar
three millions of dollars of capital.
The Baltimore and Ohio, the Erie. ths
Union and Central Pacific, aud thu
Chicago and Northwestern railway,
are other instances of great and rap
idly growing corporations, worthy o
comparison with the two mentioned
above ''and all, be it remembered, !
says Mr.. Adams, are but separat
members of the huge leviathans whiel
are to be evolved from the changes o
the next twenty years.
The six companies we have namet
now bold property worth more thal
: eight hundred millions of dollars, O
| one-third the amount of the nations
debt and control directly about thir
teen thousand miles of railroad, @
! more than one-fourth of all the road
: of the United States. Six, or at mos
. ten men, have unchecked sovereignit
over this wonderful mass of forces
and by a simple private agreemeI
among themselves, which no other pei
son can prevent, might combine it
l support of any cause upon which the
: could unite. These corporations al
/, perpetual the tendency among the
: is steadily towards consolidation the
= pursue their own ends patiently an
4 relentlessly, and every year enter MOI
] and more openly into political life.
4 There Is another aspect of central
cation. 1t destroys competition, ar
3 enables the great companies to flee
\ the public. Hence come the immen
l. schemes Of ''stock watering of whiC
n Wall street is full. Thus the Ne
'e York Central road and conneetir
= lines to Chicago now owu sevente,
3 hundren and five miles of oomplett
, road, which have cost. or ought
q cost, little more than $75, 100000. B
4 by the process of watering" they r
m port already IAN aggregate capital
$160,O00,000, on which they actual
q, exact from the public over $12, 600. o
q in excess of all operating expense.
q When the plans now developing q
"a completed, ''the capital of the co
plete consolidated line may be fix
}" ut $250.O00,000 (real cost, perhal
Il 500, 100000 in private capital),
= which an annual levy or tariff of 50
'A 100000 will be demanded as of righl
nd
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