Los Angeles daily herald., 1873-12-09
The DAILY HERALD has
neasly OoUDkk the circu-
latlon Of either contempo-
rasyn paper publlshed In Los
Angeles. AZ an advertIsIng
medium Il 10 consequently OF
DoUDl r thoiv value. 81
The government and the Railroad.

Tom Scott, the Texas Pacific mag
nate claims that the proposition his
company will make to thegovcrnment
asking further aid for his enterprise,
will fully secure the interests Of the
people. In view Of this the New York
Tribune suggests that il the bonds Of
the company are endorsed by the gov
ernment, It should surrender Its land
grant. The position Of the HERALD
is that government should have
nothing to do with railroad building.
But now that It has already got its
foot In, the time may come when it
would be good policy to buy back the
empire so recklessly granted away.
Certainly the Tfeasury y in no condi-
tion to bolster up impecunious rail.
roads OF 70 buy territory, bat after the
panic is fairly over, and the national
Golfers are again full, Uncle Sam
might do q good turn by agreeing to
take this great work off the hands Of
the parties who have failed to build
1t, refund them the money they have
actually expended, receive back the
land grant, and finish the road him
self. s .S.fsgt
Through bad counsels the govern
ment has become involved, and the
question is how to get out with the
least loss. Ifas the Tribune suggests,
it will pay to give the bonds in lieu Of
the land, we believe it will pay still
better to build the road itself without
the intervention Of the company. The
amount given to the Union Pacific
would have moro than built that road,
and yet the government has nothing
but second mortgage on the line, .
security that amounts to just nothing
at all.
II anything is done to help the
Texas Pacific out Of trouble, 1t will
amount in the end to building the road,
and common sense dictates that II this
is done, the ownership should remain
with the people. There would then be
an excellent opportunity for testing
the theory Of Governor Palmer, that
railroads are really only improved
highways, and ought to be owned and
controlled by the people. Different
States have built canals, and thrown
them open to public use, charging .
small toll, and fixing the regulations
under which they should be operated.
There is nothing to hinder the opera
tIon Of q railway on the same princi-
.ple. Then there could be no such
thing as monopoly. Towing compa-
nies would be formed, which would
supply locomotives and haul anybody's
cars at a given rate per mile, and their
charges would necessarily be moder-
ate, from the fact that the business is
open to all, and any connecting road
could put its surplus stock on, and COM
pete for the business. Transportation
companies would also be formed to
furnish cars, and do the carrying, and
as freight cars are only of moderate
cost, small communities, Oranges,
heavy shippers, ETC., could build their
own cars, and effectually kill extortion
and discrimination. We repeat it the
government must keep out Of such
speculations, but If we are irrevocably
entangled, let US take it into our own
hands and when we are able to do 80
build the road ourselves, for our own
use and benefit. a a1sBgT