The New York herald., 1870-04-25
rho Vast Rasiread Fewer Of tho Country
Government Control Necessary.

| ruhus anu ralrCau lnterest5 W WY e"'iA'AJ,
the vast power Of the railroad magnates and
| miionnaires and the unscrupuous means
which are used by these TO enrich themselves
and to heavily tax the public, make it -neces-
sary that the federal government should con-
troll in some way the whole railroad system.
Up to this time there has been no Legislation
| by Congress to control the railroads, except in
The case of The Pacific and other roads where
land grants have been made or government
| aid Afforded and even in these cases there has
been no provision for continued supervision or
control. There have been simply certain lcgis-
| lative restrictions connected with such grants
| or aid which amount 10 little, which gene
rally become imperative, and the railway COM
panies are permitted to do as they please
afterwards. Nothing like general or con-
tinusd supervision has bcen provided for or
exercised. The government has acted toward
| these companies az foolish pareats sometimes
have toward their childreg when they have
distributed or given away their property TO
| thom, and then find they are at The mercy OF
those they have generously made Independent.
| Selfish human nature proves superior TO duty
or affection frequently in children; but with
corporations, which have TO souls, neither the
government nor public receive any considera-
ton. They grab all they can and then turn
round upon their benefactors. Congress made
great mistake in not holding and exercising
power over the railroads it has created and
| aided in constructing.
The legislation of the several States has
| generally proved equally as Intellectual in
restraining the cupidy Of railroad nagnates
and companies, in keeping up good roads and
| giving good accom- modltions TO the people,
and in preventing burdonsome charges to the
public through increasing the stock two or
| thrcs times over tho cost Of tho roads in
order to pay diydends on their watered stock.
| State legislatures have been aud are the
plians croaturos OF railroad kings and compa-
| n;es. The enormous wealth and political infu-
| ence OF railroad managers are generally al
| powerful in these legislatures aud over city
| corporations. They have, 100, great iniiu-
| ence in Congress- But we only begin to see
the dcvelopm ent of their extraordinary power.
The zine is not far OFF when they viii prove
stronger than the government iself, unless
measures be taken 10 restrain and control
them. Imagine what the power OF the Pacific
railroads will be, with their hundreds Of mil
lions Of capital, bonds, stock and real estate.
Look at these great trunk iines-the Erie, the
New York Central, the Pennsylvania Central
and the Baltimore and Oio-which are
rapidly absorbing oil tho smaller and
connecting ones, Which are combining
with most of tho larger railroads west
Of the Alleghanies, and all of which are
making continuous connection with the
Pacific roads. 1t viii not be long before these
great trunk and through lines will control,
directly or indirectly, nearly all the railroad
interests Of the country. The railroad capital
and property OF the country amounts to stu
pandous sum aiready-a sum approaching that
OF the nations, debt. 1t is not less, probably,
than fifteen hundred millions 10 two thousand
millions. Suppose the greater part Of this,
with all the other great interests Involved, to
be under the management Of few men, such
as Mr.. Vanderbilt, Jay Gonid, Edgar A. Thom-
son, J. w. Garrett and few others, as they
will be, any one must see that these railroad
kings would become more potent than legisla-
lures, Congress or The President Of the United
States
It cannot be expected that these railroad
chiefs ortheir companies will study the public
interest only so far as their own interests are
concerned. Whom they shall have absorbed
or got control Of all the smaller or competing
lines they can impose what rates for travel
and freight they plcase. The pcople-that is,
the whole COMMUNICATIVE travelling public
the farmers, the merchants, and every man,
woman and child, will be at their mercy
They can tax the whole country to suit them
selves. In regulating fares and frcights they
have a far greater power over the pockets and
material interests OF the country than the
federal government has through its tariffs or
taxation. They represent nobody but them
selves, and are irresponsible to the people and
the government. They may water their stock
to make it double or treble the amount of the
cost of the roads, and make the people pay
dividends on it; and, with the power they
have over legislatures, governors Of States
and Congress itself, the public will be
without remedy FOR the evil. In
| smaller countries, snch as England and other
European countries, where there are not such
extensive lines and combinations Of railroads,
the danger is not so great Besides, in most
of the countries Of Europe the governments
exercise control over the railways. Our vast
| territory Is more favorable to gigantic rail-
| road monopolies. and. consequently. there il
| greater necessity for the government to have q
check upon them.
Heretofore the government has not been dis
posed to interfere with what are called private
interests. 1t has been considered consistent
with our institutions to give the greatest lati-