, 1873-04-08
THE NEW JERBEY RAILROAD WAR.

Of Now Joraoy, whicl, llaa passed. n Gonoral
Railroad law TINT broalsa III Bunder tho old Can1-
don 4 Amboy monopoly, mud opons tho stnto to
competing roads on fair and liberal tor1ns. This
| revolution will hnve o largo influence on tho
transportation question throughout tho country.
It touches tho pooplo TINT they may overcome
tho richest corporations mud put m end to tho
most tyrrannical nonopolios whom they aro
roally in earnost; md 1t removes ono of tho
tnnln obataclos in tho way OF additional rairoad
facilities betwcon tho East and tho West by
| giving FREQ right Of wny across tho State Of
Now Jersoy,-tho shortest route botwoon tho
Atlantic and tho interior.
For moro than twenty yours tho privilege Of
crossing Now Jersey with railroad waa monopo-
nzed by single compauy,-tho Camden & AM
boy. Tho stato Ind granted charter In tho
| earlior daya Of rail transportation, whom 1t waa
supposed that railway could not bo obtained
except by enormous sacrifice in lilo way Of
grants, privileges, and im1nunitioa. OF cor,rao,
| tho monopoly grew to tho most formidable and
hateful proportions. It ia probable that no limo
Of railroad in the world over mado 60 muol,
money In proportion to tito capital invested Us
did tho Camden d Amboy. It SOON don,inoorod
over tho whole State, and to aome extent, oyor
tho wholc country. New Jersey cano to bo
known as tho "Btato Of Camden l. Amboy."
Tho contract WAS there, however, and tho courts
uphold 1t. Congress was askod to eot it aaido,
but declined to do 80. Whom tho torn OF
tho contract granting exclusive right Of why waB
about to expire, tho Camden d Arnboy Company
pretty cortain to bo authorized by tho State.
Tho Pennsylvania Company,-n 1argcr, richor,
and boldor oorporation,-wns confident OF 1t8
ability to manage Legislatures, and offered to
loaso the Now Jersey road for 900 years. pnying
10 per cent per annum on tho capital stock
| (watercd by consolidation with humorous othor
| railways and eannls) to tho owners. In this
lcaao the Jerseymen got the best ond OF tho
bargain. Tho stock has declined in value from
127 to ITO, but tho Pennsylvania Company aro
holden for tho 10 por cent per annum oven it tho
value deprociatos to nothing, Of which, however,
thorc is no danger.
When tho fight camo on ut Trenton, forre-
newing tho Camdon i Amboy monopoly or suf-
fering it to lapse, there wsro bills for special
charters introduced providing for competing
| roads; monopoly bill virtually restoring tho
! old condition Of things for tho benefit Of tho
Pennsylvania Company; and General nailroad
| act opening tho State to FREQ competition. N1r.
Tom Hcots's tactics consstadin first defeating tho
special charters which were not in his interest,
or which ho foarel ho could not absorb. uo suc-
cocdod thus far, His next move was to secure tho
passage Of tho monopoly bill, and ho engineered
| 1t through tho senato without blush. When tho
| bill came before tho House, 1t WAS Defeated
amid tho shouts Of tho omancipatcd people.
/ The popular sentiment was irresistible, mud
| when The House, tho day following, punaod tho
General Railroad act, tho Senate did not daro ro-
toct It, This act received tho signature Of the
Governor Immediately, and is now law. It au-
| thorzos any association OF thirteon persons, or
moro, the majority Of whom shall bo resi-
donts Of tho State, to- organize q railroad
company. It requires that their articles
of agreement shall fix tho tor1nini Of
| tho road, namo tho counties through
which II shall run, and have q capital stock Of
| not loss thnn $4,000 per mile. It is necessary
TINT IN affidavit shnll DO flied, setting forth oil
honest intention to build tho road as projected,
| and that 90, 600 has boon subscribed for every
milo, with 10 per cent actually paid in cash.
Tho filing Of this affidavit with the articles Of
agreement oonBtitntos the ehartor. Tho law thon
provides that tho company shnln not issue bonds to
exceed tho amount Of tho paid-up capital stock !;
that tho construction Of the road must bo begun
within si1 nonthH from the dato Of organization !;
that, il less than fifty miles in length, tho road
must bo ready for uao within two years, mud, if
moro than fifty miles long, twonty miles must
be completed within every succeeding six
| monthB.
| The conditions which the noH law impoBes up
on companies that organize under it nro such Us
to enforce tho building OF tho roads TINT aro
projected and guard against their selling out to
m organized monopoly before they hayo boon
commenced. Tho effect Of tho law has already
boen folt as several compauioa have filed the
| necessary papers md announce themselves roady
to begin work. It Is predicted that thcro will DO
ut 1oast half-a-dozou dopondontrailroala ACROSS
| Now Jersey MS soon As they eau bo constructed,
which will have connections with the Wost. In
this way tho transportation of Woatorn freight TO
the Atlantic will DO largely facilitated. 1t Ia prob
ablo that tho FREQ passage through Now Jersey
will load to the rapid construction Of ontiroly
now trunk line from tho Wost to the Atlantic.
In any caBe, tho otfoot OF tho new roatta aoroBB
tho State, in connection with Western roads
already built. will bo tho Bamo. il indeed now
through lines shall not actually DO constructed.
FARMERS AND THE TARIFF.
Tho stook argument of tho high-tarifr
gentry just now Ia, that If tho fnrmors go for
free iron, atoel salt, 1umbor etc., tloro will pros
| emily bo no marlot for farm protluctB-tlo mvri-