, 1870-01-04
MONETARY AID COMK.ERCl.4'I
MONETARY;


MoFpAr EvEFINo, ia =
WhateTe7 General splnnera opinions 10 eRarn
70 specie payments may be worth. he he. cEtatn-
y hit the Eight na, On tho head when he sap taat
the buklAees: lnt eata. Of tho country hav morn
to fear from the monopoly and cbosohdtou OF
railroads thsn from my otrsf element 10 ounce.
hon with trade and moueJ. There are novnesrl5
4n600 mtles Of railway in operation IN the United
States Which cost 10 found 1xutes. 81 o0o, 400,
and which yield grosz revene Of
nearly. i've hundred inIlnocs OF iallars
per anuun- In addition to these, very
moderate eslmase gives t1a neSegAte
length Of roads nov protected, md wh1chFal IN
Ill probability ba opeled loE uat1c with ths
next three years, At NOT lsAs than u, 06QnIs9.
EAtlmating Tho average cost Of lEeaa nesFoad8
Atthe average COT OF the roads lhkt hae been
built Nta,oco,oo0 per ni'el, nud n..uuag tna,
tie average annual grots rerenue fros them
v Ill be IN Tbs same ratio 10 the!r cost i those
now In operation, viz, s per cent OF thelr,riginai
cost, 1t would give the Total revenue Of he RAIL-
ways Of the United States, three years hucs, Rt
nhout sa70 ,ouo PER .auhum. The chlt object
Of the consolidation which has been
the dominant idea Of railway policy fos ae past
few years, Is 10 control the reyenes, In
order TO have command Of large guuA ( ready
money for speculative purposes, and rha1conao,-
tcntton Is rapidly concentrating tho cu:to. Of
q large psopaztiCu OF this yAat annM rev.
erue Into the hRIds OF teV cilques,
who undesntbnd each other 80 vel that. 1t
Is In their power to combine and nfe th, power
OF their ready money IN aDg sche1o tias Wall
street may invent The o1d.gam5ing Rare N
September, and all other similar ELsmes, grew
out Of tho money power concentrated IN the
hands OF such men rs ftE and Gould
oLd Vanderbilt by the conuol OF FaI@ay .reSe.
nuea. Thus far this class OF gam}lerd have been
content with slaughte1sDg each cher, but some
time, when 6ome Triumphant cLqc shall IND no
opponent Ho1th5 of ths eIeIcl,e ot lt& poTrr, 1t
uay he turned against the natIoal credit and
ercnIf II should rot, the e1i8tere OF 80 great
power In the naEds OF such mel cannot laQ to
prove oppressive to the Legitimate interests Of
trade, One need only couAlltr now the roads
cerl1tng In Chlcago are being orsolldated, TO
SEQ how this uoney power Ia beng concentrated
IN fewer and ieHer handR, The Chicago i
Northwestern hallway CompoU now control
LET milea OF road. The revenue drawn
BY It's civetpin9 Lines from Eli pats Of tho North
wfht goes 10 Wall Euee: to be tsed In specala-
tIonf, ebd lnstead Of nidlog tht legitimate busi-
beta OF the country IL made al element uf COZ.
fusion. Th!s central polc5 Of 81 the companies
dralrs the West OF au ,Camenao amount Of ready
luude, hud heips to produce cIopic a,rlDgency
OF money. II Ia TO be hoptu thatthe Constitutional
Convention Of thls State viii :ake The initlatory
g,tps in this Ie.essars reform b railway manage
nett, By requiring al! tbs rail says chartered
By tits 6t1te TO keep shelr pri1pal Offices within
tie SiA.e tnslead u In Wull street.. THIS would
remove some OF the inducements 10 further Goa.
saAiauon Ard c0nccutIatiVnef power, al far as
roaos centrinR here are concerted.
The New York 7imes publishes partial list Of
Interest and dividends uae January on gostYn-
r1ttt boIds, StaIa b0Lds. railway s:ocss, aud the
tItfr a =
O. follows: