, 1873-03-11

aold, tho project abandoned, and nomo othor
means sought for tho rollof Of tue people. But |
1t ts hiH bollof that tho enterprise would not1bo
Improbable. Tho Instance which hlr. Joy |
cItod, in which tho Bsato lost money whom tho
Michigan Central Railroad WAS In is
hands, WAS not fafr criterion. ThlH occurred at
atlmo whom railroads eronot profitable, whether
In tho hands of tho State or Of private corpora
tlons. The railroads broke down without tho
States, and tho Btntoa themselves broke down
without tho railroads. !" 1t Ia notorious" 1[r.
Adams eayB, "tl1nt thoro Ii hardly railroad In
Illnols-tlo groat railroad Btato-whloh 1as not
passed. through bankruptcy in private hands,"
Tho experience in Belgium, on tho oontrary,
slowa that the vonture would not DO likely to
provo unprohtablo. Tho net return upon tho
Investment In State roads thero waB alx and
tllroo-tonths por cont, which Is oquiyalont to
twelve per cont hero, aa tho rate Of interest
rulos. Yot tho rai1roads wore managed to tic
eatiafaction Of tho pooplo and without running
tho private corporations that ownod other linoa.
Mr. Adams concluded by reminding tho Logia-
1aturo tint Ii would not bo long before tho rail-
roads Of Massachusetts would noccaanriy DO COLI
Bolidatod within Elk corporations Mt most. This
Ia already tho caao in France, whero the rail-
roads arc not 10 extensive. Ho ho1da that COLI
aolidation is not only necessary but beneficial,
but insists that tho State should DO ono of theao
sir great railroad families.
Tho points which N1r. Atkinson mateB against
tho project may bo briefly auumod up az fol-
lows: The Btato cannot build railroad rs vol
and as economically aa private enterprise; in
illustration Of which ho pointa to that portion Of
tho HoosAo Road built BY tho State of 1tasBachu-
aotts, which has boon described as $50 crooked,
30 wrongly placed, and so badly constructed,
boon making job for his SUCCESSOR to undo"
A State railroad would nocossitato tax upon
tho people for ita purchase, which would DO to
coorce thom to put their money into an enter
prise for which they would not voluntarily aub-
scribe. The Investment would not stop with tho
construction Of tho roads. It would DO neces-
aary to build extensive works for tho manufac-
turo Of locomotives and cars. To carry out tho
principle, tt might become necessary for tho
State to erect Elevators, and other
wise procood to organizo and main-
tain commerce, as private capital would probably
refuse to fnTeBt In enterprises, tho moat profit
able part Of which had boon assumed by tho
stato. It would also DO nocossary to advance
money for the running OF these roads until tho
commerce should be sufficiently largo and steady
to make them permanently profitable. Those
largo amounts Of money could not pass through
tho hands Of Legislative committooB and po1iti-
Clans without developing corruption. Nor would
there be any approciablo reliof Of the people by
choapcning tho ratios Of transportation over 200
or 800 miles Of road whom the extortiona thoy
complain Of extend over 1900 or 5000 miles.
Mr. AtkinBon further maintains Tint tho cost of
construction, equipment, and running Of rail-
roads has boon Increased by from GO to 80 per
cont sinco tho passage ftho Loyal Tonder act, but
that there bus boen no increase In railroad rates.
In spite Of tho popular c1a1nor, tho tariff from
Chicago to Boston ia only BIO cents per milo
On ovory ton Of grain. Tho burning Of corn for
fuol, le aays, has occurred on railroads arti~
fcially forced upon tho country by Government
subsidy before thew w"ro neoaod, "Avro 1t ia
choapor to burn corn than to transport fuel. Ha
holds also that, in estimating tho auccoss Of tho
State railroads of Belgium, it is necessary to-
consider tie different conditions ot tho people;
and 1t ia not unlikely, in Wow Of living exponsof.
that tho ratoa Of the Belgium roads arc as high
as those Of tho private railroads III this country
Finally, Mr. Atkinson explained TINT ho gas not
making Ills argument in favor Of tho capitalists,
who could always tako carotof themselves, but
OF the worhing classes. whose interests, ho
thought, would be injured by the proposed State
ownership.
Tho public will find here an ablo presontmont
of both sides Of u question which iB second to
mono other in Importance to tho American
people, and further discussion Of Afr, Adama,
proposition will DO nwaitod with intorcat.
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THE CASE OF CALDWELL,