, 1874-02-16

thcso ,ycrc INK w intnsfan" ~ ".ra
nato with o,o aontlor fnor ~ ti,eao ,nuitsnri
tnro b,t onn ~ "uo i4a nsniG y n.y. ".m fn,, W. ~
Illinois. II wod io ,s,niv ,,romnt,ro anv.
over mt nrosont IN o.nroua ~ mai anua ~.
to tic ultimate scccsn or faii''ro of thp nS,or'
by lis rosi1lta. Shouii Il occnnn1,ab ovo ,tn"t
n what its frionia hmm fro,, 4 Il ,s alr,I
oilly oxerogo wltlo.nnrnnI f,,ilnct,re ovor lin
co,iraa Of lortHlntion r., nthor Rtntan wv 'A'
rIIE n .na. o,,,1a,,,s, Hrr ."s.n,,
Whilo tho oxporno,,t nf oxcn,,tivo 70 m uncrva,on
In ,nnn itg .nraoticni trinl +, I1iinna I ,,sn,u
einH haB nn;lo stnn fmrthor T., ni1yonco In Ni"s.
aaounctts, wlloro q rroponal II Of r. Martial stnte-
nnaaho aolnilou of w"t ~ ,nns n ~ tho tt,o l n
mi nrohfnm IA .1in,ie. IL 3,cra.. ~. w 4, Ina @
imnnrtnnt rannooa fron, +1,,t ',asv 7 o;m isu
nttnmntoi in 1i1inos. ri s ,,o,,hor oonI,hs
ovnorsl,ir, mil liz mnvnoor,"nt v"s"oui ~ lily eTo
rond nro,,crtv' nor nca II trv r. nstn,ei, -, ia M
b}trnry rouuintlon Of rallrontln whn,tv innomt,st
o,tt with tbo ofunlamnutn1 nri,,cinio 3t,cu ,rIiot
chusoits. ns In Illinois Tint f,1ni}nmonta, nrnni.
n1o waa notunot}tion. throrh Tia li1Gt n avrnri
nrcc that tia nroinct NJ g,ato.oSsynnrah;ne nu
nrnnbscd In htaHannl,uBotts, acrl,u n rhato' tha
.svsta,n rot,,rn. Tn nronnsai 'l,nu hant, !, ~
tempt the regulation OF all tho railroads Of tl,o
State, through tho public management OF
ono Of thcun. The community Is thus to
experiment with its own property, and
rot with VI tint 9t private partioa Starting from
Is o bsst possb5 rsRe as sos9 Ss
ter than tie arbitrary decision Of any trib-
unal AZ to what may or may not DO " roason-
nblo, lilo theory Of partial atato-ownorstlip
noxt recognizes AB 4 coroalary to this principle
tie aphorlsm that wloro combination is possible
compotition is impossible. Both reason and OK
poricnce show TINT the combination of railroads
owned by private corporation is not only prac-
ticablo, but TINT 1t Is absolutely necessary to
competition among railroads beyond t. certain
lion. It therefore both hna followed, and noc-
oaaa1y 1nust tollow that either eompatitlon as a
hud, IS i France and Illinois, to IN executive
substitute for 1t, or else that somo computing
ngont must DO introduced into tlo ByBtom 10
dti!orolltly conatitntod u1 IRON tug other members
= on 1hsa ls III Ill., hGs M &c ot m
secure through Diversity Of ownership: public
road competing with private roade. But slle ond
always Kept IN WOW ts, not the npandoumont OF
competition ab tho regulating force, but the re-
turn to u; IT Is on tue contrary, tloue most re-
luctant to nccopt partial State ownership who
| propose tho abandonment Of all reliance on
| competition aud q rccourse to arbitrary rogtla-
ton.
| II Inns, however, generally been argued that
| tho competition between publicly owned and
! privately owned roads would he most onoroEs to
! tho latter; tho former 1t IL always, III this
| case. presumed, being oporatod in COM
| petition, regardless Of loas, The ren!y to Tits
has beon, tlat, presumably, pnbllcly owned
roads would always hayo to nav by tllefr onera-
tiops roasouab1o interest on tLeir cost or that
| thoy would bo abandoned in tho future NJ they
| have frequently boon in the past. Tho argu-
mout. however, was certainly spcclous. During
thy 1,ast summer tho Commissioners took ocoa.
sion TO assure Themselves Of the dogroo Of
| weight do to it ns evidenced by the practical
exporionco of private oor,orations in'tho pinrlo
country iu which d ayatomatio compet,tion
| Letweon nullic and priyato roals bas eyor
| Ieon carried on. On this nont tia
! evidence OF thoBe managing tho corpor-
| ation-owucd roads in Bolgiunl was most
| uuoa,liyocal, TLey frankly declared that they
| iniinitelT profcrrci n compctition with uub|io
| rnther than with private roads. And thu ransom
Of ti,ig proforonco as statcl by them. coyoroi
tho wholo orxutnont of co,nnotition through
m;xod owuorship. rhoy said that the compo}-
ton OF pubic roails w9s cortain, eauahlo. aud
Justly distributed: TINT those infringing tlom
| did not dare to show preference to porsons or
looaiities ; TINT tloy could not mike mouooo
l