Bozeman avant courier. [volume] (Bozeman, Mont.) 1872-1882, 1873-08-08
TE1E RAILROAD DISCUSSION AND
COMMON SENSE.
The Latest Desiee fer FixinS Rates OF
T'rnspostAs4oA.
tFroa the Nation {N Y.) of July ~


terpst. but il II ,,st q, confessed that it seem
at times Of no little difficulty. owing to th
very heterogeneous composition OF I've q
ganizations which are carrying it on, AMI til
wide diversity Of their character and ayowe
aims When Judge Lawrence was furne,
out q Office IN Illinois by the "Grangrrs.
an's Judge Craig put III his place, We took i
for granfed that they were going to eieiive
a .fisAase.3as sfan the tyranny Of the railroad
by putting Judges on tde beHcll pIeugeu q
Interpret the State constitution in a particular
7 way, or in other words, as. one Of the leea
papers put it, BY showing thats..thc people,
We're superior to both 1aws and judges. I
has, h1weYer, since been stoutly teniei tha
! this iiitere nee with the benrh WAS anything
more than a local accident, and we have beer
assured That the farmers seek changes of ;
much more legitimate character. and resting
on nlote solid foundations than the creation
| OF suhservient Judiciary. The recent plat
forms have certainly had much wider SWEEP
than the earlier onts, and, unless language
has been strangely abused in making them
embrace grave notifications III fiscal as vel
as in railroad legislation. But the question
hoWto reduce the railroads to tile condition
oi public highways. coptrollable by aud ex-
isting solely or manly for the convenience oil
the community. is still apparently rs far from
/ solution as ever. 1t is BY no means stlrpris-
ing that this should be the case, but that 1t is
the case we are forced to conclude by the ex-
traordinary character of the la est plan pro-
pounded by the reiormers, which has had
sufficient plalisib,iityyto to command the APP
proval Of so sober minded PAPER as the
{ hcago Tribune
/ The farmers have been accused. partly in
consequence OF the escapade about the judges
III Illinois. of seeking to rob the railroad COM
panles OF their lawful earnings by forcing
them to carry on their business at loss, un-
der the operation of cast-iron rules, drawn
up without reference to its peculiar nature.
'fhis was charge OF VIII ch the farmers soon
began TO see the gravity and they according
ly now announce that they have no schtlne
ot spoilation or confiscation in their minds,
but that they have atlast hit upon mode Of
ascertaining what are reasonable rates.
which consists iii discovering what was the
strucungand operating the roads," and treat
ing a fair percentage Of this as a Proper re-
tuih to the stockholders, and all charges
which bring in inore than this as ..unrea-o,i-
able and therefore open 10 prohibition by
the courts and State Legislatures. Under
this theory OF railroad property. all stock
which does not represent money actua ly in
vested is treated as fictitious, and all al
tempts TO earn dividends on such stock as ar
tempts at extorrion. For instance-to put
ease of frenuent occurrcncc--a corporation
obtains charter for ii road which will c.,rr,.
two million dollars TO build. 1t accordingl,
50rrows the two millions on mortgage bonds.
and constructs the road. while the members
di ide among themselves two millions OF
stock more, and they work the road SO as to
make it pay interest on the four millions.
The farmers now say that no road stall be so
worked as to pay the interest on anything
but the proceeds OF the bonds, or, in other
cords, the actual cost Of con truction and
equipment. This, stripped of defails. is the
new plan, as gravely pIopounded by the Chi
eago Tribune.
Now, if anybody will get up and propose
general railroad act OF this nature. appliea-
b e to all roads hereafter to be built. We think
we can promise that he will have the hearty
SUI port Of everybody who has seriously re-
fiected on the railroad problcr. Forbid the
of any road except with the pro-
ceeds OF Pald-up stock. and forbid any higher
fills amount and we shall have a rule of which
nobody can Complain. We do not believe
that single mile of railroad would ever be
constructed under such rule III a new and
Lhinly settled country like the West or South. I
Safe investments are not so scarce as to in /
duce people to go into one OF the most un-
safe of Investments, aud one promising in
most cases no return tall for several years. /
or the mere chance Of seven or e. en- ten per /
.ent. at the outside. But we should. never
heless, he truly glad to see the plan tried.
md believe it would, by stopping "a lroad
for the present bring the Vest
srn farmers to healthier comprehension Of
heir relations TO the community, andmight.
end to solution of tile railroad problem
which would be both permanent and satis--
actory.
But the application Of any such rule now
o roads already III operation would be spoila-
ion pure and simple-spoila ion as fagrant
is any ever proposed by Karl Marx or Ben.
sutler; II my attempt were made to carry II
nt, it would produce perhaps the greatest
inancial crash ever witnessed. Il has in the
Irst place that leading characteristic of Ben.
sutler's greenbaek scheme. that it would not
nly violate tacit pledge made BY the State
0 individuals, but it would epriye men OF |
ewards afready earned BY running great
isks. When railroad constructed tor two |
lillion dollars Is made TO earn interest onI
,rr millions, the case is precisely similar to
lat of government which III a lime VI great
anger and perplexlty sells seven per cent.
onds- at fifty and tile present proposal of I
10 farmers resembles Butler's plan OF paving
,e bond-holders in 1870 what they gave for ]
ieir bonds III 1861. lii fact. it is the old =
game on great scale of sshtads 4 1
III. tails Won iose.n Ihs West has during .
le past thirty years wantfd railroads, which I
lere was yery small cha ce of making
rolitable for i long time. + cncouraaed
asesrn men aid foreigners @ apake 1hstn q ]