, 1873-03-11


ruptcy IN private hands. II ID not fair 10 thrn
bnak thirty years To 4 time whom oyeryilinE.
failed, ati'l tho whoc nystem, public md private
broke down, and say that tlion tho State rail-
brolo down, too. Most of tho renlorn of Sydssoy
Smith have hoard eometllng of Pennsylvania
bonds: Those who nrg,,o IN this wny should 81
on md prove to III that, wliilo tho dbvo1'nons
byltom broke down. tiio private system stood up
Unfortunately It fnilod to do It.
GENERAL CONSIDERATIONS.
Hnt leaving thoso Eonaral ntgnn9nts, np9h.
which 1hayc folt constrained to dwell no lonEi
altlcrutionn III fayor Of tho State now trying this
experiment Tho Commonwealth already owns
q largo portion Of thin llno NYo do not want 10
abandon what Inns cont tts millions Of money.
ously represented here aeoln fully al'lo to agro9,
m to Which OF tlonl Hhnll rolicys tho State or
this heavy. burden. meanwhile THO attempt at
the regulation Of railroads by otat.tto haa not
Of rai1road mor-thoy Hike II no. bctter than
Slate management. Like othor eminent gentlo.
men In our recont htatory, they want to 10 M lct-
alone" We'll, If thoy cannot agree A. as 70 inc
built, and cannot operate their own road 30 as
to 1naot tho popular ospoctation,, in It not
reasonable that tho people should try at their
own cost to il they cannot themselves 10
with his own, and buy In open merltet. Then i
this experience fails, ono moro stumbling block
will bo ta1on out OF the discussion. 1t will 10
proved that tho opponents Of stato ownership
wero right, and that ita advocates woro wrong.
lilo property can then DO disposed OF to private
parties, and we cntl Address ourselves anow to
aomo other solution of this difficult problem.
Tor, gontlomen, rest assured that this problem
has rot to ho aolvod. Do what you vii, aud aay
whit you WILL rnilroadH aro not subject TO tho
FREQ notions Of tho Iawn Of political economy
aud cannot DO abandoned to theu1. Yonr patch-
work legislation already hanga.in tat'orB about
1f i0S>t0 viii
ooycr him up, hut you cannot bind. hun: r., Some
other ro1ncdy las yot to be, devised That this
Which NO nov atlvocato is the hnA romedy, ia
proved o, D MI oifeotivo G romedy olsowzs; anl it.
YOU nov, try it md 1t fails, 1t Is but ono more
pieco Of rubbish swept out Of your path. ~.
;, And now, gentlemen, lago como to point IN
path in which I have hitherto trod: For bolievo
hnvo said nothing today, at least, was 10 in
etructod, md have tried to cay nothing, which I
have not eubstantiated by our own experience or
to first principles and citation Of authorities aH
would ontitlo 1t to- at laaBt, respectful consil-
oration 1 now propose, however, to indulge in
o little thoorlZing OF my own.
THE ARGUMENT nEY1EWED. =.
But before doing this, must ask ynu to brhr
with mo, while briefly roview tto ground ovor
which wo hayo advanced and sho conclusona q !
Illogical In tho nrat place, through argument,
universal and long-estnblshod usage, and gem
oral authority, cndoavOrea to show TINT tho
system OF trnnHportation by rail was not subject
known as tho aciouco Of political economy 10
based; that, indeed, it holds position regards
tho community in no respect tho aamo a1 TINT
OF ordinary industrial pursuits. This position
established, and tho railroad systom put upon
the footing Of @ practical monopoly, it followed
that somo machinery for its regulation through
tho Agency Of Government must bo devised.
That by statute, or tho exosciso Of Legislative
rTt1+jr1 b,nyyr
tempted to ahow, both through careful historic
cal Investigation and BY abstract argument, was
at onco ineffective, and, in ita political aspect,
peculiarly corrupting, aud dangerous. If did
aome new mothod Of regulation must bc dovined.
Looking abroad, TINT wo might tread in a benton
path. I thon had rocoureo to tho experience Of
foreign countries. Our aim wau to. got back il
damentel prinoiple,- ,-wo looked to seet our fcotin
tho tracks Of olr fathers, in which wo could
Mother stumble nor fall II our Government
must regulate, must moddlo, how could 1t do so
tho intorosts invoivod7 Under tho happieat
auspices wo realized that dangers enough gath
erod about tho pnth.
Tho answor was, through the artiflclal oatab-
llslmont of that principle Of competition, whio
naturally exist. This Ind elsewhere buon 30
ourod through mixed ownorahip, stndor which
nublin railroads and private railroads woro kept
fact Of stnto ownorship-a most dangerous po.
litlcai inno-.t;en- II. howeyor. suol, M innoyn;
tion was necessary, Enough 1t waH to DO entered
upon with doubt and reluctance. yet pEocedonta
for it were not wanting. They wore found IN
onr poBtal and educational systonls, in our hos
pitals and our wator-aupply. II, thon, i'll this
case, the Governmont must intorVone, could 1t
going into tho railroad business as it lad al
ready gone into tho postal, tho medical, tho
educational, and tho water business It re-
naipcd to consider what was tho least
dogroe into which it could enter IT. md
DO it always remembered, wo inBlBt
that Government would not bo Justified in on
terinR into any businoss simply to make money,
but only to protect tho public against tue con-
purposea Of argument, tho principle Of mixed
ownership those OPPOSED to uH havo fair
right to asls Of us to define what We mean when
W. tins speak Of sss ya possible ;aat anoant 1io
discussing such subject as this to stand up
and talk of '1cant possible amounts Deftno
yourselves. Give us some idea what III implied
IN this unknown quantity"
THE FUTURE OF OUR nA1IinoAna.
Tint 1nay do this, gentlemen, it is necessary
for mo to aBIs You to form solno tlelnfto concep-
ton as to tho probable future Of the railroad
systom Of Massachusette. You are aitting hero
decision is destined to be productive Of
worry groat results for good or evil
to tho Commonwealth. you have, therefore, no
right to report measure without forecasting
the future to tho best Of your ability. To look
fur behind tho volt is not givon to mortal eyes;
but, 10 far al wo may, we are in duty bound to
look boforo We finally pass upon s,lcl 4 measure
as thia. For myself, knowing us do tho prlnc-
plos which aro controlling tho development OF
railroads, both In thia country and in Europe
MI tho result Of tho best study which with my
poor ability can give to this subject, and which
Certainly lns not lacked the 1unlity Of assduty,
I am prepared to 200 great changes in tho imme.
solidation, nm ready to 80 yoly far. 1t ID no.
cessity-a natural Of growth You may not 1ilso
It; yoil will have to reconcile yourselves to it. You
mny try to cheol it. aud by no doing forco it into
stronger than you, havo thought to do so, aud
thoir attompta have but resulted In failures as
will be tho caso with yours should you vainly
follow in their stops. Tho railroad ayatom will
tnka ila en..:. . 1Ml Eet GUAnUlLuAL9I NNner-