, 1873-09-25

tho party rresa mid atoa awny viii thelr piulor
rsato t;o t people are hghslF among themselves over
=: The farmers must nrgailizo III their own
defonao THEY insiat discard od leaders, md net IN
harmony for trlc reform. They lso tho pnwer, n,d
should control tile Government aud PIT down rnys
ant monnpu.lcH.
-Thoro ia no doubt TINT rates Of freight on
most railroads could DO rodtced one-l,alf aud
still pny n good intorcst OH tho nct,lal cont Of
construction; but tho great troub1e has boon In
Watering tho original capital by frequent and
repeated asuos Of stock, aud on this aggregate
tho company to declare satisfactory dividend.-
La Crosse (1Ns.) Republican.
Tho recent cranh In Wall street, oroakora
Say, waB occaBioned by the agitation Of the rail-
1oaa question oommon m aonao, however, says
no agitation OF tho railroad QUESTION Ind not tho
railroad magnates undertaken to make tho old
aud good routoH pay double ratcg. 40 as to eiyo
dividends on tho now md poor routos.-Eau
Claire 1Vis.) Free Press,
1t ia charged tho farmora' movement aeainat
railroad inonopolfeH haBtenod this financial oriau
by making capitalists timil in touching new
bonds and oven old stocks when such q general
uprising of the people agatnat railroads n,ado
Whatever tho CAUSE, ono result will follow this
crash-now railroad ontorpriBca depending on
tho salos Of bonds must stop for the proaoiit.-
Rock Island (ln.) Union.
Tho action Of tho "boars " in tho Now York
stock market In docrying tho credit Of tho rail-
roadB may lavo haatcnod Tho catastrophe, but 1t
Is not likely thnt it could have beeu long Ryertod
in my event; tho bubble waa blown, md It WAS
Liable to burst at any nl0nent.-Toronto Globe
-Tho craBh has been nbandantly predicted.
The wonder IL 1t Las not come onrlier. Its i'm
mediate CAUSE is tho railroad foyor. ItB Objects
need not SO much further thRn those closely
connected with incomplete railroal enterpriseB
Hartford { Cl.) Courant.
1t will be many year boforo projectors of
railroads through wild countries, to DO built with
borrowed money, and wait for al Indefinite timo
from ioo aons5lo mon@1enore non re 1msriean. s '''
--Fow people roalizo how hollow thing
modern railroad ia. In former times, tho old
fashioned way waB to form a company, issue
stock, have it paid for IN cash, aud uso tho money
to build the road. Lator and moro improved
mothoda hhvo mainly superseded this, and tho
roads are now gouorally built by tho bondholdcrs
:. e. Tlis method of building road placcA it
in the control Of those who avo no interest in 1t
except to make m as large protitH for themselves
as possible. They havo but very little money at
stake and, when they have fsr1ned out ali tho
profitable franchises, they will then hand ovor
Tho Skeleton to those wlloao money really built
tho road, and who will find it worry much liko a
sucked orange Scranton (Pa) Times.
Now, il these enterprises wore conducted
upon cash system-f tho roailB were buitby their
projectors with their own money-a,ld II those
who built thcm could afford to sink their capi-
tai until tho profitable period arrives, not much
harm could have boon done, beyond s,lch evil aa
the liyersing Of 80 much capital from Legitimate
and Immediately profitable business would
sene 1rs stes s's s.e saspfs's fs %es @ s sSs
Withdrawn from tho pasteboard fabric, down falls
tho deceitful odihce:: Detroit {afich.( Post,
Tho country at largo will suaer nothing
from the collapse Of railroad bubbles too far ds-
i1ldutged-nay, will be tho botter for it.-Aloaay
(N. ~ EucninJ Journal.
THO truth abont tho matter Is, that the ab-
sorbing capacity, both Of our own country and
Of Europe, in regard to railroad bonds, has been
reacllod. That crash similar to tho
| preHene ono was bound to come. has boon owl
dent to every person who nus stepped to think
oft, for months past-Peo,fa (lH.) Transcript.
toforo presented direct result Of disaoluto-
| ness In public life md prostitution Of govern
mont to morcenary e1lds.- Rochester ~. ~
| Union.
ministration seems to be to mar that it may
| mend, to punch holo In tho political porridgo-
pot that it may patch 1t with clumsy p3out, and
declare IT 'bctter ash new.". IceNeas lega--
to the Credit hlobilier scandal and hll tho fuss
! which Acknowledgment (Io.ca) Democrat.
--Wo hnvo 10 regrets to offor over tho down.
| fall OF q few financial gamblers. They desorye
no better fato, and tue worst thing against tho
Government now il, tint many of them arc the
| pots Of tho Administration, or have beon.-
| Burlington Io,ca} Gazette.
Tho strong fellow-feelng at Washington for
Wall etroot is not surprising: A Government
and party trickssers might bo expected to prove
| tho friend in nced and friond indeed Of the
| most rostilont of all the tribes Of gamblers in
the couutry.-Neio Orleans Times.
Tho storm llnB struck this firm and q few
others, and demolished thon. It will strike tho
system Of class legislation, Of monopoly and
speculation on Which tho Administration is