The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1874-02-15
ID a N @ Err IIEA
Decline in Railroad Earnings---Inter-
eSting Information.
EXPORTS AND IMPORTS
Continued Ease in Money Gold Pirmcr-
Government Securities Strong.
THE BANK STATE ME- N T..
WALL STREET.

WALL STREET. I
SATURDAY, Feb. I4-6 p M.
the retrenchment movement In Congress begins
TO attract general interest. Economy Is the one
thing neediul in our public afrairs. AS govern.
ment and people we have lived an extravagant
life and IL Is high time that we shall adapt our
selves to our poverty. 1t Is all very well indulge
in Fourth OF July rhetoric about what we can do II
we will but the graver thought Is, How shall the
government pay its legal tender debt to the
people Mr.. Richardson has already disbursed
$25, 0OO,0 900. 1t is more than probable that he will
be compelled to expend more. Yet every dollar
OF this issue is illegal. Imitation in any and
every shape has been fought against by all
the boards OF trade and chambers of commerce
in the country. 1t means danger and damage, ex-
panded credits, excessive speculation and ruin to
the commercial and labOring interests, another
panic ana worse results than those from which we
have just escaped. Give to the country even the
925, 900 900 now out ana before the next year we
shall have another crisis. with all the accountant.
ments Of q FULL brass band Wall street
is beginning the process already. Matters may
look lovely on the surface, but there are financial
demons down below
RAILROAD IMPORTATION.
Illinois is the great centre point Of the Western
railway system. The welfare OF railroads in other
Western States depends more or less ON the re-
suits that find expr esslon in Chicago for, If there
be strength or weakness, it Is first developed in
that city; In other words far that great sec
ton is concerned, It is the mouthpiece OF the
West We observe from recent statements pub.
lshed in Chicago that the latest phase in rail-
road war between the Baltimore and Ohio Railroad
and the other roads running from the East Is the
cutting OF freight rates from East to West on the
former line Hereafter tnat road will carry lreghts
from New York to Chicago at the following rates.
First class esq., second class, CSC. third class
fourth class, Soc, and special, 40c This Is an
average reduction of about 80 cents from the usual
drst class charges. 1t is also stated that
BITTER FIGHT
Is wagng between the various Western railroads
and Union Pacific, both sides holding their ground
stubb0rnly. The St. Louis roads have taken the
ground OF the Chicago roads and demand pro rata
rates. Meanwhile the Chicago, Burlington and
Quincy, the Chicago and Northwestern and the
Chicago, Rock Island and Pacific roads are said to
be perfectng arrangements to bring their Cali
rorn1a freight to New York and ship it via Pacific
Mail, which, they claim, will be cheaper than Union
Pacific. The Toledo wabash and Western Com
pany have decided to reduce their passenger rates
from four to three cents mile. These symptoms
are significant Of the decline in trade to which we
have 80 often adverted in these columns. Compe-
tition in period Of dulness compels just such re-
suits as are described above, but
GOOD BUSINESS
never forces reduction in prices, the study of
the annual reports of the earnings and profits Of
our railroads for the next year will be even more
curious and entertaining than the work OF their
bOokkeepers during the past. The following table
Will show the average earnings per ton per mile Of
the Chicago and Northwestern, Michigan Central,
chicago. Burlington and Quincy, and Lake Shore
and Michigan Southern