The Cincinnati daily star. [volume] ([Cincinnati, Ohio]) 1875-1880, 1876-01-28

~ Uo SoNSiAOU Wy 1no WisUoM VI tueeS
wise saws of ancient authority. Sensi
BILE to the last.
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Western Transportation
Mr.. Hurlbut, Of Illinois, has intro
duced an important bill in the House Of
Representatives to authorize the Gov.
ernment to build freight railroad from
New York to the Mississippi River.
The bill provides for the appointment
of five Commissioners, who are to be
operators of the line, and who are tc
subscribe for all the stock In trust fol
the United States, and to hold the voting
power forever, and to manage, with two
Directors of their own selection, the en-
tire business of the corporation, thus
making it, strictly speaking, Govern
ment road.
The details OF the bill are precise and
somewhat complex. But the substance
Is that $15, 900 per mile is to be obtained
on five per cent. interest bearing stock,
payable in sixteen years; and this
stock Is to be received in payment oi
freight charges at a rate of not less than
$1,000 per day, i. g. $365,000 per annum.
This is in addition to construction bonds
at forty-six years to the amount of $12,-
600 per mile, with five per cent. interest
guaranteed by the Government; and the
Government to hold first mortgage as
indemnity.
. The equipment at the outset is to con-
sist of S75 locomotives and 1850 cars.
The estimated cost for single track
is, $4,000 per mile, making the total
$105, ,000, 900. Such is the statement made
of the estimate. But we confess to
some doubt about the accuracy of these
figures, upon the data stated. For,
assuming the length of the road from
New York to some feasible point on the
Mississippi, not south of st. Louis, to
be 1900 miles, at $4,000 per mile, the
amount would be only $45, 900, 900 instead
of s1O5, 1000, 900. But probably this last
sum was intended to include equipment
and sundries.
The movement thus inaugurated by
this bill is probably in the Granger in
terest. 1t nevertheless opens up one Of
the great questions of the times,-the
question Of cheap transportation. And
although this question has been made a
prominent one Of late through the
Granger movement, it is matter that
concerns all our people, whether within
DR. without that organization.
The time must come when the people
will, in some manner, free themselves
IRON the bondage under which they are
held by the railroad combinations con-
trolling the prices of transportation. So
long as these railroad corporations are
managed entirely in the Interest OF pri-
yate persons, the public will necessarily y
be subjected to their power in regu-
lating the cost of freights between
the Mississippi and the seaboard. When
those private corporations fail to agree
among themselves so as to form COM
bination, and freight charges are openlto
competition, our farmers and producers
in the West can find remunerative
market for their products even in Eu-
rope. But when the combination is ef-
iected, their produce must rot upon
their hands or be sold at ruinous loss to
the producer.
I With freight railroad owned sub.
stantially by the Government, and the
voting power as to its direction in the
Government forever, there would al
ways be competitive avenue open to
the people, who could thus bid defiance
to the monopolies formed by combina-
tiops Of private corporations for their
own enrichment. This would give to
the trade between the West and the sea.
board degree Of steadiness heretofore
impossible; because heretofore it has
been impossible to know what might
be the cost of future delivery
at any given time or at
any given point. There was conse-
quently always large speculative mar.
gin left to cover this contingency, and
that margin was always held against the
producer, whether farmer or manufac.
turer; and was therefore always an alb.
,solute loss, to that extent, to the inter
ests OF the West.
We are not prepared to predict any.
thing concerning the chances Of success
that may attend the present bill. We
think its chances doubtful. Congress ID
absorbed in President making and un
making this year. The elaine of ths
people are consequently OF secondary
Importance in the opinion OF Congress
men, who always fancy themselves the