The true northerner. [volume] (Paw Paw, Mich.) 1855-1920, 1873-09-19
WHOLE NJ DG4

now 10 discuss its advantages aud disadvantages.
1t would be impossible in the brief limits of
magazine article to examine thoroughly the
question OF railroad rates The mos that can
be done in to lay down certain general princi-
pies and make some suggestions which msy
lelp readers in deciding the Gu .stiou Rof them
selves. it is or should be admitted. in the frst
place, That the raIlrosd corporations have a
moral right to charge GIch rate AZ will ellable
them to pay fair ten per cent,-proft
ol. money actually invested after deiraylng
legitimate expenses. Fat er than this they
have 20. . raorsl right X o. whatever their
charters or the law OF ths states creating sthom
may permit Waste'ul management, extrasa-
giant expenditures and stoc1- watering. as well
Al excessive dividends. would be condemned by
this rule but who is 20 decide what j. waste
FOL and extravagaut? stock-wateunS can be
absolutely prevented. "a L has been IA 4lassa-
chusetts. Excessive dividends ma be dif-
couraged. as they have always been IN the same
State, and T. restriction may be wholly put up
on all roads hereafter chartered. Errors OF
management and squandering OF money can
not be dealt with IN tho same way. nor is it
easy to see how law can be framed to put
stop to them without a complete assumption of
the management Of railroade by the govern
ment,--a policy that in splte OF It's attractive
ness. should never be adopted by an Amencan
state. When the greaJ evil of stoct-watering
has been abolished, we may safely trust the
stockholders with their own property. When
il is necessary TO lcok after sbe pence in order
to make ont divtdend-payng profit she pence
wall DO looked after.
On the other hand it il not 10 be assumed
that all apparent extravaganza ia really extrav-
agance, or that ali Of what IS called stock
watering is actually so. Money has been wlsely
spent III making passenger cars elegant aud
comfortable. and large sums have been expend-
ed in advertising, two examples OF what some
would wrongly call wastefulness. 1t IL not
properly watering of stock when great
company buys branch and issues stock below
the market rate 70 raise money 10 pay Tor It,
Il is not to he deuied, however, that many
roads have been guilty of both forms oi wrong
dong, aud it Will gueve few people to observe
that their subsequent history almost invariably
contains experience that seems very like retri-
button.
Again, it is to be remembered on the part Of
the anti-rallroad men that the fanc~ csIcula-
tons OF the possibility Of bringing eIslu to the
seaboard at rate OF hall Il cent toy4 mile,
! by succession or slow, equi-distsut trains,
have 10 application to existing roads. On any
road doing a mixed business, passengers and
freight. the former must always dominate
over the latter, even when three lualters OF
the revenue is from freight. The proposed
system could admit OF NJ deraneelnent of
freight trains by the interference OF passenger
trans and as the calculation is onv made on
the basis Of regular uninterrupted fIeiyht bust
ness. no existing road can be expected to put
down its charges to the extreme low figure
mentioned
The chief complaint il of local charges, OF
special rates. and Of undue fayorng Of 'com-
peting points," With reference TO local charges,
the interests of the railroads draw them IN two
opposite directions. Seifehness aud short
sightedness dictate high prices 10 and from
small stations. 1t costs more to handle freight
at thoee points. 1t costs as much to stop tho
train to take one car load as TO take six. The
proportional cost OF labor Will be greater where
!
were there no others, would lead every company
! to make the small places pay dearly for the
service they get. But there ia another side.-
In a great farming country every station Is
capable OF large growth. What may be good
/ temporary policy may not be good permanently.
1t ie the highest interest Of the railroads to en-
+ courage, by SPECIAL privileges, the growth Of
the smaller stations. 1t is not asserted that all
the companies have followed the wiser course
In thls matter, but some o. them have done
80, and have found their great reward for their
good sense.
Special rates are gwen in some cases TO large
shippers. We have never heard it charged that
favor was shown to one person and denied to
another who was in an equally favorable posi-
tion to ask special rate, though this may occa-
sionally have been done In general. special
rates are no more than Wholesale p1ice, which
is gwen III all trades.
In commenting on the severs. matters pend
ing before tho constitutional Commission, the
Detroit Post says
The local option proposition Sesore the
Constitutional Commission We csnno. believe
has the least prospect OF adoption. IL 10
proposition to have different laws Ia different
counties aud towns-one law on ono ride OF q
public road, and another law on the other side.
Besides, II the principle is sound. why not ap-
4 ply it to other matters? IL lIqUor-sellpS is q
crime. or q misdemeanor, why not slow each
town and county the local option u vote
whether theft, prostitution, gambhn.. assault
and battery, andothercrimes and misGcin eanors
shall be legal or Ilegal2 II lqcor-seliing is
CRIME, then it is just as much OF cfiine IN ore
place as another; and the legislature should
pass equal laws regarding it for all parts OK the
State alike. Is 1t necessary to put a.y leslsia-
tlon-parucularlv special iegislatlOi-b tne
constitution? Tho constitution does not at
tempt TO legisate concerning such crimes as
murder. theft, burglary arson, Oh rapo nor
does it attempt 20 Iegislate concerning such OF,
fenses as prostitution. gambling, OF assault ana
battery. but leaves all these things TO DO dealt
with by the Legislature, which rerrezents thc
Will OF the people"
In the Republican Convention o. Ashtabula
county. Ohio, which met on Monday OF last
week. tho following resolution was unanimously