New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1871-01-25

all but imDaSSablc would sooh nav
gates lifted off their hinges by tho nii','',' -
the law, and the public authorizen 10 ''"''''0
it's entire length without paying -:
The ub,c mind seems to be steadily sraU-
eating toward these CONCLUSIONS
a. ,bo State fixes, in the public interest,
| ,bo nr;ce Mt which u railroad company may
take any ones property which 1t needs so the
80 Ct.,o sbould fix the rates of travel and
.rans,ortatiop over that company's road. In
o,her words AZ the company il authorized to
toIe q farmers house and grounds at an I'M
martial valuation, so the farmer should be
| authorized TO use the railroads ears and power
on similar terms. Hence, the rates OF fare
and freight should be fixed by some disnter-
ested tribunal authorized by the state, and
sbould he subject to change only with that
tribunals express assent
III. The stock and bonds Of a Railroad Com
pany should be limited to the sum honestly
spent in buying the track, building the road
and providing the necessary equipment They
should under no prctense be watered and
should never be increased, even to pay for
extensions or Improvements, without express
authority from the State.
III. When Railroad Company, after paying
fair dividends for number of years, suddenly
suspends them, and thenceforth for years pro-
fesses inability to pay dime beyond current
expenses, including interest on its loans. it
should at once be taken in hand by the State,
its management thoroughly investigated, and
its managers removed from their trust, unless
they shall be able to Overbear the natural pre-
sumption that they have squandered or stolen
the net proceeds that belong to their stock
holders. Should they ask, why should
"the State interfere, so long as our stockholders
"acquiesce the ready answer would be,
q" The public interest requires the building OF
"mOre Railroads. so that more people shall en-
"joy their benefits; and your failure to pay
dividends impedes and pOstpOnes this consrm-
"mation. You are therefore cited to dispel the
obvious presumption that you are stealing, to
"the prejudice of your own stockholders not
"mcrely, but of the entire community rs we'll"
". The device for preventing or suppress
ing cOnspiracies of railway managers against
the public veal by forbdding the consollda-
ton of parallel lines, is the merest wreath.
1t is MT worth the paper whercOn it is written
So long as half dozen managers of diverse
companies can meet in an office or parlor and
double or treble the rates nj which they have
hitherto transported produce or merchandise.
without linderance or supervision, the value of
every farm, the prosperity of every city, Us
virtually suspended on the good pleasure of
three or four raeD.
Such are the new ideas now vaguely float
ing in the air. They may not yet have taken
such shape as to render them formidable to
the "rings" whereby our great Railroads are
But any cne whose duty it is to
watch the currents of public opinion must
realize that the times are exceedingly favor
able to their reception and dainsion, That
which is now "a cloud no bigger than p mans
" hand is Fable suddenly to expand so a. to
enshrOud the sky, inaugurating a tempest
which shall become tornado.