The Superior times. [volume] (Superior, Wis.) 1870-1912, 1874-08-01
THE RAILROAD Law.
From the State journal.

Madl son, july 23.-N Wisconsin, IL
lmols, Iowa and Minnesota have
shown degree Of prosperity that
may well challenge III world tor. ?
parallel increasing in population
from 1900, ,052 N 1850, TO ,228,2S7
in 1870, and in the value OF ferns
and farming Implements, exclusive
Of other property, from SI50,1la.356
In r650, 20 81, ,78!,476,9A0 n 1870.
and IN railroad property III 1873 to
i4,470 miles, costing IN The age,.e-
gate, $500, 6,5OI $40. The railroads
IN the above states are reported in
Faor's Manual as follows:
Wisconsin, >, POS miles, costing SSS, I49, $50
Illinois, 6,549 miles, costing 35S,2IS, ,046
Iowa, 3,72S miles, costing l25,l4l, ,628
! Minnesota, 1850 miles, costing 94, 992, 254
This unprecedented increase in
population and wealth may be par
TALLY ascribed to the enterprise and
intelligence Of the people and lertil-
ity Of the soil, but mostly to the
large amount Of foreign capital that
has been expended in constructing
railroads, giving employment to
thousands Of laborers and furnish
ing not only transportation for sur
plus farm products, but home
market Tor such products as would
not bear transportation. Agricul-
tural lands have been settled and
improved, and cities and villages
have sprung up, as by magic. Pre-
yious TO 1872, the legislation Of
these States was such as to encour-
age capitalists TO invest their money
in railroads in these States, and the
groWyh and prosperity of the coun-
tTy, such as TO warrant sure return.
With these guarantees, Wisconsin
was enabled 20 increase her rail
roads rom | j IS miles in December,
1869, 10 2,2O3 miles in Dee. 1873
making ,075. miles in four wears.
y much greater increase was shown
in Illinois and Minnesota up to the
year 1872 But in an evil hour Min
nesota was placed in the attitude OF
quasl-repudiation, which so injured
nerreputation that, while able to con
sruct go mile, Of railroad in 1871;
she could only complete Il miles n
] 1873; and Illinois, passing a strin-
gent law regulating railroads, 50
dIsarranged her credit that, ri
though she constructed 1,0Sl miles
IN 1871, could only complete 223 in
1873. Not needing The lesson, 50
forciby presented, Iowa and Wis
consiu undertook, IN 1871 10 make
the Illinois railroad laws respec a.
bic, by passing laws so odious as 10
call away attention from the laH-s $
Of Illinois and Minnesota. and NJ
ready, and rs consequence there
of, ii is believed that while Wisc0n
sin constructed 325 miles Of road in
1873, few rails, If any,will be laid in
1874 IN constructing the 2,203
miles o. railroad now in operation
in Wisconsin, ut cost o. $88, I49,
362, the counties, towns and clues
in the State have loaned their cred
ii 10 the amount OF 1916, 4O4 and
it is believed that the entire cash
subscriptions, including all payments
on settlements Of farm mortgages
and other indebtedness, actually
paid by the citizens Of Wisconsin
(other than the officers and managers
q railroads. will not exceed S ,000,-
600, leaving noC less than 80,000,O00
OF foreign capital invested in rail
roads in Wisconsin alone. In view
OF the above facts, taken from
documents accessible 10 all, is ii
right, reasonable or polite TO 50
frame our laws as 10 compel our
corporations to repudiate Their obli-
cations by defaullinG their interest
and to take The control of the busi-
ness created by 50 vast an amount
Of capital entirely ont Of the hands
of those entrusted with it by the par
ties furnishing the capital.
JAMES CAMPBELL