New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1873-08-18

rates III IA prevented from doing this IL loses GER
tain amount OF business Either II must repair this loss
by increased charges where competition spresent or
IL must suffer the reduction OF its whole net earnings
which lie dividends depend and thus frighten away
capital from It's support. thr
only know two people who are infaible One IA the
Pope and another a woman who never made mistake.
But neither the Pope this wise woman is kelly to
add lushsr and laurels TO the deliberations OF railroad
directors. These latter do not claim infabilty
Mistakes have been made by them such as were III
by your correspondent from Buda. and douoN
less will be again but the most fruitful cause OF tneso
mistakes has been too close and fixed, rather than 700
loose and flexible an arrangement Of prices tnuS 'e
aering u difficult 20 make custom courtesy to Nc" VI
eumstanees. Were the Grangers to suoceo" ~
lettering the railroad companies Dy i"noAD ,s
regulations, pro rata or other they "ou'u
have imposed an unbending rule which 0ou'u
not fail 10 work mischief, both at competing anu
ultimately at noncompeting points hllhero' III many
places the farmer had the advantage OF TWO hnes
OF railroad with prices kept down by mutual competF
ton The new plays directly into the hands OF the
shorter line, which thus becomes a. once monopoS,
suce the other and longer road that formerly managed
IN comneto with H. is now obliged either 10 reduce its
rates over its line else to abandon the business
Al the competing point its rival In most cases, this
last course would be adopted as the lesser evil ana
tins the farmer would be left to the tender mercies OF
short road monopoly. linen hihu VA
local extOrtOn for a remedy against which the Changers
are so ouding crying. What we still ask shall be the
panacea
Several methods OF relief have been suggested. One
Of the most obvious the building procuring to be
built competing roads, or improving the management
and angmeng the facilities Of existing roads, so that
by their increasing profits they may tempt capital to
come forward competition In view OF these
suggestions the question arises whether the manage
Ient aud resources of road likely 10 be improved
b the legal regulation Of its rates TO pro rata or any
other anexblo standard. II this were possible surely
the stockholders would welcome and profit by the
wisdom OF the Changers. But 1t has not inire-
qmently been found hitherto, that even rail-
read managers handle their constituents prop
erty more ably than Government regulates
the affairs Of the people; and the advantage OF per
soual responsibility In tho arrangement OF business
would probably appear in Illinois as well as IN the rest
o the word Another suggestion, by means OF which 10
~ from the evils have 10 those we know not Oh 10
conhsoae the railroads. and put them directly under
the management Of the State. Experience in Pennsy-
vania Meaga and elsewhere has probably convinced
even The Changers that this course would not Dc Key
% reduce rates while it would increase taxes. Every
body VIII ADMIT that the roads must be made to yield
soue net profits in pay respectable interest
for the use of capital, whether capital be
supplied by individuals by the State With the
precedents of State control in mind the Grangers would
hardly De enough to urge the purchase or combs
cation OF existing roads Instead, they prefer to regu
late rates 10 pro rata other fixed Standard butt
has already been shown how this fixed regulation
might and almost certainly would result in destruction
20 hEsncss the power to determine rates might be
so used as TO reduce them onequsrter onethrd one
han-in short. 10 sweep profits altocether III
used opressiycy voud amount 10 practical conhsc9,
ton: used unwlsoy IL would result IN harn 10 al
pnres-ihose along the lines those at the ternini and
the stockholders. This would be partial coniseation
Thai would heuct uoDody. Another remedy for abuses
that has been suggested u legal regulation OF the rate
per cent OF profits that corporation shall be pernted
10 divide Some slDguine souls have seen nope III inns III
rcctou. Thc weltern road OF Massachusetts, which be
fore completion was threatened by means OF the Hoo
Tunnel furnishes with practical illustration OF
TIE king OF tins ae, Inc se i own
paving the stockholders ten per cents so there was no
in making more than that, and thus tempting inc
reached about ten per cent some years since; ana |
OF course ono had any interest 10 MAKE
NO f0T energy In management or Tor activity IN
SCI uc more busiRess-in fact 1t was much less trouble
lover rates. endeavOr by which only the people
could benefit While = Tod maze ETe %1rS 0 OF b
prO-.avcry party I'm Massachusetts, whose poncy was
men preferred to keep the business conveniently |
small Whctner these charges were true or false they
were believed bE the people all along the line OF the
ruad and complaints were bitter nntl way out Oh tne
difficulty by the pain or competition oePan 20 DC t Jun
nCied through the HooSac Mountain; To-Day inc
average proht Of railroads IN Illinois as below per
where would be the invitation TO capital the Smuns 10
labor ~ --,.,.,. - 49,,
suggested for al railroad would not be complete
without an allus0n TO the bullina-ohina-shOp plan OF
that patriot and philosopher, Gen. BENJAMIN r. Buter
A plan which even the conservative editor OF HdTPerS
UeeTy hae mildly apprOyed-that OF forcing the rail-
road 10 let the public enter upon and use their roads,
"Eyery msu his own doctor" and Every woman her
own lawyer are nothing every man his own railroad
strpOration-abe indulge In private and special
ffisk with his engine seriousy-it indeed such
proposition b. seriously considered at al-the pub
c has to-day protection against the neglect OF
IL rights Ii road fails supply reasonable ranspor-
tat0h the farmer claim damages for delay But
re moment you admit the public to supply rolling stock
fOr itseli must relieve the corporation from us Oo-
LEGATION no furnish IT, also lt cannot be demanded both
that railroads should thOroughfares, and also that
their stockholders should be held responsible |
Tor the delays, smash-ups, and general chaos which
would ensue. To me IL seems that all the suggestions
aboye enumerated would be alike futile, and that the
nc sole corrective for whatever evils may now exist
connections Competition may not cure all Ills IN day.
INIT n is the vital remedy for abuses and In this couD-
try where all alike anxious to make money no man
can long continue ask dollars for what his neigh
boz Is willing 10 sell for one. - o
boston, Aug. IA, 1873 NEUTRALITY-SUSPICIOUS.