Burlington weekly free press. [volume] (Burlington, Vt.) 1866-1928, 1874-02-27

Editor Free Press and Times
One of the most popular schemes OF the
oranges is to reduce the price of provisions
by lessening the cost of transportation.
The way TO do this, they think, is to enact
laws regulating the charges oil railroads Tor
freights and passengers.
This is either surprising the railroads are
making too much money on the capital IN
vested. or il Is direct attempt to put an
unjust restriction on private enterprise,
when it is for public convenience
The railroads all over the country are, as
rule. in an Impoverished condition. Very
few of them make more than enough to pay
their running expenses and the interest on
their borrowed money. Many roads have
to borrow money to pay interest on former
debts and only hall dozen roads are iully
self-sustaining.
Now. if at this time, there are placed up
on these roads, struggling to keep out oil
bankruptcy, excessive taxes, as has been
done in Wisconsin, or ruinously low tariffs
If FREIGHT rates. As in Iowa, Minnesota and
Wisconsin. what must be the result? Does
any one doubt that general bankruptcy
must follow? That the railroads are not
making more than fair interest on capital
invested in any case, and not a proper re-
turn in most cases, may be seen by compar-
ing the returns Of the farmer and the raii-
road company. There Is no farm worth
H 600 in Vermont that does not net more
than ten per cent. of its value. In Penn
sylyania. Massachusetts, Connecticut, Mary
land Rhode Island and New jersey, the
return l. over twenty per cent, while no
railroad in those States makes a return of
over eighteen per cent, and most Of them
only seven per cent.
Another good test l. this You cannot
ind a granger who would be willing to
take his money and invest it in cheap trans
portation schemes, though the whole thing
was left to his management. Dat OF ten
wealthy grangers have talked with, |
have found no one who was willing TO
invest in any cheap transportation
scheme under the special direction of
the National Grange In every IN
stance they say. I'VE trust some general
scheme to lessen cost Of transportation will
be hit upon But We don't feel like prom
i-ing to become investors in any such enter
prise. Then ALWAYS follow inyectlye>
against the railroads. In other words. these
men want cheaper transportation at the
expense of the railroads, while they would
not be willing 70 do anything towards IT
themselves nor invest their money ior the
same rate of interest and on the same risks
Ia England. France. Germany, holland,
Belgium, Prussia and Austria, where roads
are run with economy and judgment, the
rate paid hv second class passengers l. one
third greater than that paid on any road IN
tins country. First-clasS passage l. double
that on our roads and the accommodation Is
not 50 good as ours. Freights are nearly
double ours and yet none of these roads
pay over 6-l0O on the Investment
In country Ike ours, 50 extensive ana
uudeveloped. the worst thing We can do i,
to add 10 the burdens OF our railroads ana
thus disorder still further their finances
ANY thinking man must see that # he l.
not willing to loan his money to the carry
ing trade, those who do, are entitled 10
some consideration. and, a; least. q lar re-
turn upon the Investment. The bu-s passed
by Western legislatures imposing I'VE per
cent tax on roads and decreasing the tariff
Of prices for transportation are 80 many land
slides. blocking up the way TO the market
and directly injuring the railroads but indl-
rcctly bringing sure ruin upon the farmer
Let few more railroads tail TO pas their
interest. and We shall be unable 10 sell
single railroad bond in the market OF
Europe Already our people at home pas
them hy as not being properly secured by
the prospect Of future earnings. And thus
we are surely coming to general break
down Of our railroads. When this comes.
a. think II must come, II the present IN
wise c0unsels Of the grangers prevail 70 any
great extent. millions Of bonds Will be hang
back upon Us, oyerthr0winc our credit
abroad, creating panic and confusion IN
the money market. rendering the railroads
pnweries- 10 do business. and leaving thc
farmer standing beside his bags OF grain and
corn. hundreds Of miles from market, with
only the consolation that he has been made
the special recipient Of the iayor- OF the
grangerS- IRANus