, 1873-09-28

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THE RAILROADS.
. Should tho prosont financial tlatrust continuo-
Its effects will speedily DO felt In overy house,
hold in tho land, especially in tho country. A
moderate influx OF currency, aud resumption by
tho banks, will afford only partial relief,
Even return to tho busInoaa tranaao
tions Of last month would not ayort
tho Inconvenience and suffering now inevitable.
Not loRs than eight Of our Chicago railways wore
heavily engaged In works Of construction. Tho
Lake Shore l. Michigan Central wero laying dou-
bio trucks, mainly Of Steel to facilitate the move-
mont Of our exchanges with tho East. The
Burlington, Rock Island, Alton, aud Northwest
ern wcro alao putting down lnrgo quantities Of
stool rail-. and porfccting their magnificent Bya-
temB Of roads. Tho Illinois Central was assist-
ing the Southern Railroad Association to form
m all-rail route botwoon Chicago aud Now Or
leans, and several companies woro ondeavor-
Ing to bring coal much cheaper to Chicago.
All thoeo improvements woro greatly needed,
and would have Injured to tho public benefit.
Thoy would have facilitated transportation, rcn-.
dored travel Bafor, aud living cheaper. Tho
progress will 60 no farther. Tho mandate hnB
gono forth to rotronch. Ono railway company in
this city las discharged 775 mon this week, and
In fow days will dismiss $50 moro. These mon
wore a1l engaged upon construction work. The
train force has scarcely been touohod, but tho
FILLING Oft In traffic will nccoseitato humorous
~ r311
prevail in tho mnchino Bhors. Single mon
will 80 first, aud every effort DO mado
to retain the mon having fdmilos dependent up
on them. WageB will DO cut down correspond
fngly, and tho mon bo pnt on eight hours timo
and, II doomed necessary, tho timo will be fur
thor lossened ono-half In order to retaiu largor
number sfd afford them q bnro chance Of earn-
ing subsistence. In this way, this ono Com
pany oxpecta to loaaon its pay-rolls fully 2,000.
Should the other companies DO reduced to tho
samo dire necessity,-and all having unstable
bonds on tho market certainly vii, "a vast por-
tion Of our hitherto consuming population will
be forced to half rations.
This serious Wow of tho question did not occur
to the men whoao violent outcres againat the
corporations havo procipitatod tho disastrous ro-
cult. It twas not altogether unexpected. Prom
iuont railroad mon who negotiate with foreign
capitalists forosaw tho crisis. But they woro
poworless to avert it. They Ind no means Of
roaohing tho people to warn them Of tho danger.
Only tho hoarao cry, t' Down with monopolios !"
could gain tho popular ear. Tho multitude
caught up the shout, and, accompanying 1t with
I'll capitalists, who were ready aud able to ad-
vance the money tho Wost needs and must havo
for It's development. shranls from touching co.
curities which tho ambition Of demagogucs could
at any moment render valueless.
Woro the railroads the only sufferers, tho dis
aster would not be 30 grieyous; but, In their
paralysis, q wide-spreading industry Is affected.
The locomotive worlsa In tho East aro Diminishing
men by tho hundreds, and car-shops will DO
forced into similar economy. Rolling-mills md
iron-fusnaces will also DO heavy losers. These
hnvo grown into giant proportions in our midst.
The payroll OF one Chicago mill averages
100000 monthly, and it is not tho largest con-
corn. They are all full OF orders for Homo weeks
to como, but tho prospect Of 3 continued
busy Eoason Ia not promising. Iron aud lumber
firms will suffer to greator or lessor de-
gree, and every branch Of trade will hayo o
bear Its sharo Of tho pinch. The result of the
conflict IS, that tho farmer, with bins full Of
grain, is taking tho bread out Of tho wording
ma1a's mouth, and forcolosng tho mortgage on
bis own farm.
Tho full remedy lies in education and on
lightenment. Wlon lilo people can DO brought
to SEQ that capital will not sock Western invest
monts unlosB assured Of safety, they will coaao
threatonings and legislation that vail US in from
tho only mon financially ablo to carry through
our most needed enterprises. When the rail-
roads, on tho other hand, learn how to avoid OK
asporating the farmers, thoy, too, will DO wiser.
Tho Woat ia bound!ess IN tesourcos which re-
main comparatively unavailable, simply bocauso
thoro ia not, md neyor was, money enough horo
to develop thom. Europe cau supply our dc:
mauds. and will, readily and fully, whenever
convinced that tho Investment ia safo.
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0UR POPULATION IN 1900,
Mr. francis a. Walker, tho Superintendent Of
ro,,uuo dfon,ouno f,, &1,o .,.,,