Dodgeville chronicle. [volume] (Dodgeville, Wis.) 1862-current, 1874-06-19
Mr.. M'Henry's Testimony.

legislation in this state. To show the
weight that should be attached to his
views, it should be explained that he
is an English capitalist, who has been
engaged the greater part of his life in
the railroad business. Representing
large amount of stock ia the Erie
railroad, it was he who carried on the
stubborn contest to secure that road
from the clutches of the Infamous
Gould-Fisk ring. On this business
he has spent large part. of his time
in this country for the past eight or
ten years. With these opportunities
for observation, it is not extrayagant
to say that there is no man in England
or America who is SO we'll informed
concerning the railroad systems of the
tive countries. So far as any question
of bias is concerned, it should be bcrne
in mind that all his interests are on the
side of the railroads.
Being asked his opinion of the
Wisconsin railroad law, Mr.. McHenry
replied promptly, that they are ga ne
cessity of the times and that if the
roads, instead of trying to oppose them.
would endeavor faithfully to obey
them, they would find it very much to
their own advantage. Then he added
statement which is respectfully COM
mended to the attention of the gentle
men who talk Of the Potter law being
"con6scatory," etc; he said that the
only mistake the Wisconsin 'legisla-
lature appears to have made is not en-
deavoring to enforce even lower rate
for freight, and continued:
All those railroads at their present
tariff are insolyent, arc, therefore, things
cans be worse, even with lower one.
They are not nsolvent for the want of the
resources, in this country, but because Of
tie pre- hibitory rates they are endeavoring
to charge for the carriage of freight. Con
sequently there is no business equal to
what the railroads are capable of perform
ing.
Applying this thought, MIR Nc
Henry proceeds to say that the vol
ume of business on American roads is
only limited by the rates; that they
can be made low enough to enable this
country to compete with all the world
or high enough to entirely destroy her
produce trade. He estimates that on
an average the rolling-stock and road
beds Of this country are idle twenty
hours out Of every twenty-four, where
as by system Of cheap rates they
might be kept employed all the time.
With respect to passengers, he says
that poor people are practically pro-.
hibited from travelling at all, which
shuts off large amount of business
that the railroads might do under a
more sagacious policy.
Mr.. McHenry was then asked beth
er he thought that the Wisconsin
companies are able to run their roads
proftably at the rates prescribed, to
to which he answered emphatically,
mo doubt of it," Then he entered
upon a branch Of the subject which
has not received the attention that it
deserves in the discussion of this ques-
ton, viz, the Importance Of stability
in rates. He says:
Rates should be fixed in order to give
the merchants a chanco for creating bust
ness. After all It is the man who creates
business on whom the railways must re-
ly. He must know what the carrying
charges will be at least year in advance.
VI a, II
ti(ul and cheap, but they by no means en-
joy monopoly of everything. There is
not an article raised here that does not
come into competition with like produce
from other parts of the world. Therefore
the merchant in his creation of business
must be able to rely on the rates Of trans
portation in order to enable him to CONS
pete with the merchants of other countries.
For instance, when American corn falls in
Liverpool (Which is the greatest market
for that article) to 80 shillings a .qaarter,
the demand is practically unlimited; and
as no other country but the United States,
can supply sufficient quantities at that rate,
they can enjoy an enormous business in
the article. As soon as the price rails
es above that rate, through supplies, then
Imports commence from all parts of Europe,
Therefore it is to the Interests of the rail-
ways to keep low and steady tariff for
when a merchants operations are once
broken up much time is lost before new
set of spectators and dealers can take
hold of the business and create it anew.
Now the railroads in this country.
and especially of the West, have utter
ly failed to give dealers any assurance
of stability in their rates; on the con-
trary, they are constantly changing
them arbitrarily and abruptly. Only
a few days ago, we heard the experience
of man in an interior town who had
bought thousand bushels Of wheat
at figure that would have secured
for him a fair profit; but before he
could get the cars to send the wheat to
Milwaukee, the road had raised its rates,
and he suffered severe loss, Such
experiences are rather the rule than the
exception; and it is perfectly obvious
that business can not be legitimately
done that is subject to such contin-
gencies. In this we sec a very fore
ible reason for the establishment Of
permanent rates by the state.
Another pertinent point that Mr.. Nc
Henrymakes it that on the parliament
tary trains of England These are so
called because Parliament, under the
leadership of Mr.. Gladstone, passed a
law requiring every road in that coun-
try to run two trains day at penny
(that is about two cents of our money!
a mile for naSSa mars Nn dnnhA Il,