New-York tribune., 1876-05-24

wise and extravagant laws were passed Dy tne
| Legislatures of several States strong ehort
was made to bring new sectional IhteresI
into politics, and it was said that the West
| ought to unite against any party which did
not provide for its necessities. This question
has droppcd out of consideration, in pohtl-
cal aspect, almost entirely. The "reform"
laws. passed in whirlwind of popular excite
ment, have involved the States in endless ntl-
CATION have yielded big fees to certain law
yers, and no beneficial result whatever
to the people. In Wisconsin. the new system
worked 80 badly that the Potter law was re-
pcalcd. and the commission, which had been
invested with almost unlimited powers, was
abolished. In Illinois and Iowa, the new legls-
latiou became odious, but remains on the
statute book because it was never so enforced
as TO bring its worst results home to the COM
prehension of farmers. In all the Western
States investments have been discouraged, hot
only in railroads. but in all other securities
the value of which depends in any degree
upon public sense of honor. The agitation
for cheap transportation, in short, has some
times Droyed worse than useless, and has
never proved useful.
portation. Laws not passed by any Legislature
have pushed rates far below what was supposed
to be the minimum attainable. Last year, dur
ing ten months or more, the gram rates irom
Chicago eastward were lower than the ordi-
nary rates of midsummer; the average Tor the
wear was by several cents the lowest ever
known. This year rates are already 10 yer
than those of 1875. TranspOrters by canal are
in distress. Stockholders and bondholders are
anxious to sell. There is general feeling that
the war upon which the trunk railroads nave
entered is likely to be long and severe. At
2ls cents per bushel on wheat from Chicago 10
Buffalo, and 6l2 cents from Buffalo to New
York. boatmen cannot make any money, ana
it is reported that rail contracts nave
been made from Chicago to New-lOrk Mt 10
cents per 100 pounds, or cents per bushel.
The ordinary rail rate is only 20 cents per 100
pounds, about 1900 of / cent per ton per
mile; at this rate a fully loaded train of 20
cars, or $50 tons, would earn only 81 1Ei2
DER train mile, and the average expense per
train mile on the Erie for the last year was
81 40 on the New-York Central, 81 33, and
on the Lake Shore, 81 21l2. Even on the
Eastward traffic alone, the roads are transport
ing at less than the actual cost per train mile,
and when the return trains, OF which not more
than ne-fourth of the cars are loaded, are
taken into account, the loss is still greater
The public has "cheap transportation; quite
a. much of it as can reasonably be asked,
though no legislation nor association has con-
tributed to secure it.
The consequence has been remarkable in
crease of traffic. The number OF bushels
shipped from lake ports during the last week
of April and the first week OF May was
S,445,31I in 1876, and only 4,217,378 dur
ing the same weeks in 1879, an increase OF
moro than 100 per cent. In movement OF
anthracite coal, the increase in April 1876
compared with the same month OF 1879 was
76 per cent. and in movement OF cotton ~
per cent. No wonder that railway earnings
increase, for though there has been an extra
ordinary decrease III rates charged there has
been n corresponding increase in many of the
greater branches OF traffic, and the published
statcments of monthly earnings show only
gross receipts of railways, and give no idea of
tho expenses incurred by the largely increased
movement 1t is probable that complete re-
turns, for the period since the reduction OF
rates, may show that very large proportion
of the freight business has been done at an
actual loss to the companies OF course, this
cannot long continue. But II Is not possible as
vet To say how far the enormous increase OF
traffic prompted by low rates may encourage
the railways to permanent reductions For
some years. every great strife has served to
convince the leading railways that lower rates
were practicable than had ever been adopted.
Perhaps like result. beneficial in the end
both to tho community and to the railways,
may follow the struggle which now causes
such loss to transrorters.