The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1870-10-26
Railroads, tho Telegraph and the Press-Thc
railing Moral Forces or tho Present Age.

Benjamin Disraeli In ono OF his politico-phi-
losophical novels has prominent character.
who moved the governments Of Europe as
pieces are moved on chessbOard, through
the power of his wealth. This man might
have been intended to represent Rothschild,
for he is an Israelite Of almost unlimited means
but he is in part creation Of the Imagination,
| and represents the vast power OF aggregated
wealth, in combination with lofty ambition and
broad craftsmanship, working silently to ac-
complish great ends in conformity with modern
ideas. He is, in fact, sort Of Rothschild and
Disrael combined in one individual. In this
character is depicted one Of the most potent
moral forces that control the political affairs
| or the world.
| AS the American republic affords the best
illustration Of the fact stated above we shall
pay more particular attention to the influence
of the power of money here. Our remarks will
| apply, however, to all the civilized and pro-
| gressive nations az well, though not,
! perhaps, TO the same extent. Though
wealth performs an important part in
the political affairs OF European nations there
are other moral forces at work which we have
not in this country. Monarchical ideas, aris-
tocratic sentiments, the assumption Of and def
erence to long established privileges, and the
influence Of caste or class In society and gov
eminent prevail to great extent in Europe
The latter particularly--that is the sentiment
and pride of caste or class-permeates through
all grades. This is more remarkable in
England, probably, than on the Continent
The very costermonger is an arstocrat in his
way. He affects superiority over some one
else. True the struggle to break down these
barriers and to elevate the masses has COM
menced. The growth of intelligence through
the press, the quckening influence of the tele-
graph, and through bringing people together
by means Of the rapid locomotion of railroads,
is working great change. The present war
people and to uproot old ideas STILL as we
said. the sentiments and sympathies of the Old
World cling in measure to the past. The
moral force Of old institutions and habits
operates yet.
We, however, are emancipated from the Eu-
aristocracy, hereditary privileges and distinc-
tons of class or caste. We keep up with the
progressive ideas and developments Of the
times. Even the domestic slavery Of all infe-
rior race and their political inequality had to
be given up through the progress of liberal
sentiments which are embodied in our Declare
ton of Independence and in the genius of our
institutions But with the extraordinary
growth of the country in wealth and material
improvements another power-another politi-
cal and moral force-has come into existence.
This newly developed power is in our rail-
roads. The enormous capital invested in
these, and the concentration of it in few
hands, comparatively, enable tho managers to
control, yea, to buy up if necessary, political
leaders and Legislatures. The railroad pro-
perry of the country Of all kinds-stocks,
bonds, lands rolling stock, buildings, manu-
| factories and money-is scarcely less than two
| thousand millions Of dollars. The gross
! annual income approaches that of the federal
| government, and the profits amount, probably,
to nearly hundred and fifty millions year.
We speak of the prop erty at its present esti-
mated or nominal value, and not of the
cost OF the railroads, because the stock in
many cases has been doubled or inflated
more than that. II must be remem-
bered too. that most of these railroads
earn good interest on the inflated
stock, for which the public have to pay i'll
increased fares and freightage. Imagine what
power this stupendous capital with its vast
annual income gives to the magnates who
control the railroads. Then look at the hun
dreds Of thousands of people either employed
on them or directly interested in them, as
stockholders, bondholders, contractors or
some other way, and all under the influence of
the managers. Can we wonder that asprants
for political honors bow to this mighty power?
Need we be surprised that the Legislatures Of
the different States do whatever the railroad
chiefs bid, or that even Congress does what
they wish Such immense wealth would be
powerful in any form, in the Golfers of the
Rothschilds and other great capitalists Of
Europe or in the hands Of such capitalists as
the Astors and Stewards of America, but not
so much so as when used in railroads and
other great material improvements. Its rami-
fcations extend to every portion of The coun
try and affect all interests and its influence
consequently must be co-extensive.
In the time of General Jackson the cry Of
alarm was raised against the money power of
the United States Bank. 1t was asserted by
the Jackson party that this institution was
dangerous to the liberties of the people and
the institutions of the country. Yet its capt.
tai was only thr,y-ive millions of dollars
What an insignificant sum compared with the
railroad capital of to- day! What strides the
country has made since that time-in the short
yariad or forty five vaars Mr. Riddle tho