, 1870-01-25
MONETARY AND COMMERCIAL.


ntcIsses the probable results Of tne present ten.
Getcy to concentrate The xnole Of the y4lt rail.
way i. .sttm lnto rev hands. The author Of the
article, MI. C. F. Adsms, gives soua startling
tactr, showing tbs ptogress ta4s bxa already been
mada IN this dtEec.lou. He snYs shat the Pennttl
vaIla Railroad Company row control by perpetusl
,eale whole yJatem Of roads, composed urst Of
main nEes oivtrging 10 all the principal
railroad centres Of the Weat: Chicago,
St Louis, Cincinnati. indianapolis; and that
It each Of thete gteAs ceLtrcs anothcr system
u gradually beng Aosofbed. At Indianapolis It
hAs a!ftRdy tpAofbed Z ret.work OF roAds thai
dtve1He from that polLr to ~ sections Of Indiana
and Ito the sdtott1n3 States. Here in Chicsgon
IA well understood that one OF the causes OF the
present manipulation Of the ssocs Of tho ROCK
II apd Road, which Is nor crea,!. & tone excite,
uctt, Astscs from tie struggle to withhold It IRON
beng swallowed up bJ tne Penus5,vaLia Con-
nAoJ, and 70 giving them the contso,nf q through
doe to the eaIte1n terminus Of tue urtou P4c.nc.
III. Atam1 eAttmatss the totA mileage of the
roada thus AfeAdT awalloued mp By the
ptLntylSau'A Conpaol At 400 nllea. the
greater potion OF which has beeu
acquired dur,ux the ,sat twelve mortnA Tn!s
Riaarltc oltoltdAttun has foor prominent com
reuters, siz.: The system al roads connecur7
with the New YosA Ce1tral. conuoled ny vauder.
tiit Ara having An ~ g1cHhte Of tearly dse fhou.
sano Di'es Of read: tie Baltimore i Ono Con-
pAn> .; tue Erie, and tho Chicago i Norm = eaterp,
Men may retsuAoa themselves that snese "a go
dhpgts IN this cot cebststson ot poRer, that 11th
cur ffee Institutions the r1gba Of tho lntiv:dnsl
viii be held n sacfed Is tue p11veKes Of the cor
rptAt,oaa- but the consolidation Of tucn a com
i,anJ u tbs PentsJltanla, or Ct tho rosds COZ
tto'led by Vanderbilt, aAn suco anothes consol,.
"ss'on a. tns Sorthssssern. would gs'e
1t sncn = prtpondefance OF poNer
tho rest ard tae trans porsation oultnefs or the
WhGle county would soon BE- In the control OF
Gtc COZ papy, Ehich cLu!d nuy up cour,s ard peu
ualixe Inv with hundred tinIts toe fac Iisy taz1
the cn9ues 90 10 notorious y 1t present tn Ees
York city. Nj. Adams e4i1lA' e. that shb prop
e1ty ci tnt ave great consultations above uer-
touec, together with that ol the Cen,r1l aId
GIlcn Pacific Reads, anounts IN vaiue to more
taan n,uoO. 90, sum elaal 70 one-th1rd OF the
LattoEAl debt, Atu that thls var me2ns Of e1sy-
Ching power over TIE interests Of the peoplo /.
almost escius7elJ Ii the hands of sir, OF. at tue
uusr, Ten neu. This noLop1]y "desrroys CON-
,,titlon, AID enables Inc great cumoa0fes to
1ttce the public. Hence CONE The immense
tcnemes Of 'tloek Watering or which
WAll street Is fu1L TbuI the New
roik ceotrsl Road acd connecs1n. lines to CHI.
csso now oxn l,'ts m.lea of completed road,
which have ctk1, or oushL 70 coat llttle more
than s,a ~, COO. But, BY the process OF water
iny,'theJ report Alteady an aggregate capital
OF $3.50 t0o.c on which they aetna1I exacz rrun
tae pabiic tver $l2 900 700 In cxceA< OF Ill cper
x:lnx expeLses' Rhen the pl1us 20 dsreloo,
iLg are completed, the capital OF The complcte
runsot:tated lie nsy be AGED II $3.50 900 0oo {rea1
cct'. perhaps, s1tN o 900 IN ps1vase caps.D, for
hieh IN annual levy Oh tame OF 10 0o0, oOV viii
he demanded a. oi nxht' Tsese corporations Ut
perpetual; The tendency among then u strad,15
tpr1
e1 1da patiently and re;enilesaly, and erety yru
tL,er nore ald rrore openly tnEo political n1e.n
gent tmAn Of this city Nho has been speeding
sorls weeAs II NEW York and has aken pa,ns 70
lex carefully with Me1cnan:a And panke1s there,
u impressed With the belief that tue fceIlnx in
business and nuanctal circles u mrcn lesa hope
lui than here IN Chlcaxo. The1e has heeo 4
g1caer ta1Lg OF in the regular trade Of that city
IN proportion TO capital tnkn VIA uA Merchants
arc scliirE fetet goods In proportion 70 thelr
atosks, and sre 10 l1ucn more oppressed With h!gn
tAtes Of Gt1cpnLt that nunbes1 Of per1ops afe
Qlt1k our Of regular trade to eAve their capital
Irum being eaten up with discounts a.
IL 10 ~ per eett Per AlnuB. It II
TO contradiction OF these v.ews to cite the fAcs
Il ii MoleY 10 easy Oh cali At ltou 10 per cent
on failsAy srocx. or government bond coIlsterals,
fnu oily proves tAAs capisalis'a are IN x7llng 10
lose coutrol OF tastr reaoy money for = s.nzls
ealnustety beiopEs 70 thAs city, as well ~ AL TIA,
ia beitG drawn 1rnm other sec:sona Of Tho osanu,
BY means Of the railway inte1eat, beng kept n1uge
ana mcse for tpeca!stsse opesasons IN stocks AID
.ou. IN zeRAd 10 the pr1oe Ct the lA1tes, tners
seened 10 bo genett lnpsess'on snat 1t mus.
20 higher tLan 1t present, aud that An Afertks
sone.At1s aoons 100 Would be estao.
u.ned- lrQolry, however, failed 10 eli.
CIT ary suo.tAnt1Al reason for this
genetalinprrsalon Tho Eui.rg bustoczs iuterctt oi
New Tutk Tou.d feeeave = la1Rer proportlonat1
oepen. from An auIsnce IN gold than ID slu1o.l
xuy Cher city, II u to the lLtekcst Of Its tupor,
TN petcaahts. sno hare ,mpottoa aad psa 10,
k;ocis Of zooos Il .na low rstes If aul1 lor the
psN four Of Qyo rpontpyx that Rold eAouh 10 10
Ia ,ns1 they snooid oe anle 10 sell tot carteacs
At greater dep,rcta Ion. The inserests OF tht
raunA, e,ocA aru sp,o opsrstofs = soald also b
.1ytu by ~ 1dYsnee 10 geld. Tney vapt uacsu.
alft ~ II hot a,A ID ne.s in nrcta and II IA ma
..,. w.. :. 80. <e..s a.,... -