Nashville union and American. [volume] (Nashville, Tenn.) 1868-1875, 1873-10-03
VANDERBILT'S VIEWS.
Causes and Consequences of the Pres
eDt Furry.

emit FLUFFY.
From the New York Herald.
GIu tell YOU what's the matter-people
undertake 10 do about four times as much
business as they can legiLi u2teiy undertake.
of course, they soon ge5 short and have to
holster up their business as well as they can
bv robbing Peter to pay Pau. II people
will carry on business In this mad-csp man-
per they must run aInGck.
aTheIe are ! great many worthless rail
roads started in this country without
any means to carry them through.
Respectable banking houses in New York,
so-called, make themselves scents for the
sale ofthe bonds Of the railroads IN question
and give kind of moral guarantee OF their
eenuineness. Tie bonds soon reach
Europe and the markets OF the commercial
centeTs from be character Of the endorsers,
are soon flooded with them. Now marx
the consequence. The roso gets into diff
culties and bad language is heard all round.
3These worthless roads prejudice the
commercial credit of our country aOrOsd.
Building railroads from nowhere to no
where at public expense is not legitimate
undertaking. l might make alusion to
Texas, Midland and other new railroads,
but you must excuse me, for am friend
of the iron road, and would Ike TO see 1t
st. etching to every corner of the United
States. They help to develop our commerce
and civilization, and ought to be enc5urag-
ed, All ii have to say is, when ralroaos
are to be built don't yictimizs the puohc 10
build them.
0Wben I have some money Hbuy railroad
stock or something else, but l don't buy on
credit. pay for what get. Peopla VINO
live too muct on credit generally get Drought
ND with round turn in the long run. Ihe
Wall street averages ruin many a man
there, and is like faro. Mistrust VIII be en-
rendered till we, as nation, do our pusl'
ness on more solid basis, and pay as We
CO."
From the New York Graphi'.
Interviewer-Don't you think, Commo-
dore, this suspension will prove greater
blow to many Western railroad enterprises
than to the financial prosperity OF the coun-
try?
Commodore Vsnderbilt-I think it viii.
These railroad builders are trying to do too
much. They are trying to do something
with nothing to do it With; just as toid
man a few wears ago. He had been appoint
ed President of railroad that was 10 DC
built in the West. and came 10 ask HE how
20 build it. l told him that he had put a
hard question to me-tbat be wanted me to
tell him how to make something out ol
nothing.
Iut.-Are there any other Western roads
he Ides these that have injured Jay Cooke
.SCo. that are dangerous?
Com VI don't know much about
Western Nfigoads, tut there are undoubt-
edIv many =, NS6S in what is called the West
r
Iut.-What do you think OF the propose
that the Governme ut saoEld purchase sno
manage sll the railrl>sa
Com. V.-Oh, as u that lsmiilng anc
raising his hands in deri non at the ldea, ~
he settled himself back ia bis easy chslT,)
simply think il couldn't re cone: ho"
could it be done? How could the 1oVeIh
meut manage all the railroads?
Init manages all the postoihces, sug
gested the writer, at q venture, opseFvlng
that thu Commodore appeared to waib lor
reply.
Co n. V.-Ye', so it does; and see all TIE
stealing that is going on. See the army o.
officeholders that would have to be created
to manage the roads, q l know that nine
ty.nine ont of every hundred men go EN-
ployed are thieves. Besides this, the States
would object. 1t would take away thell
privileges. On! there are so many objec'
lions thas there is no use in going through
with them. Of course don't object. 1t
will be all the same To me if the Govern
ment desired to purchase any roads that
have an ioteTest in.