The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1877-08-24
GOVERNMENTAL RAILROAD REGU.
LATION.

To THE EDITOR OF rHB HERALD:-
Your short editorial, "Railroad Regulation by Con.
gress" opens subject that requires the first and
most energetic action Of our lawmakers at Washing
ton. and In way can It be so thoroughly brought
their serious consideration through the press OF
which your paper Is leader, whose opinions are -
garded and must claim attention. Tho public demand
action in this limo Tor their protection both Tor
the workn gman and capitalist; and tho provisions
made must be OF substance sufficient to both
tercsts. Control management Of these corpora
lions by the general government Is not advisable aud
It's Legality debatable; but supervision and cxamina-
ton by the law Is requisite and clearly possibe Let
them be organized, examined and protected
under system similar 10 that upon
which our national banks were inaugurated,
with alterations, provisions and additions as It
may be found requisite to enact to prevent interior
with their operation usefulness. Their organ.
zaton should be subject to such inspection to leave
no doubt Of responsibility and capaoly, 1nanc ally,
at least conduct the proposed undertaking. Their
management should be subie,t TO such supervision
as would prevent negligence, extravaganza unneccs-
sary aud uncaed for extension, rejecting seriously al
ways interests OF the real OF the values
involved, viz, tho stockholders who retain little
power 10 prevent, In TACT to discover, until
TO prevent Their accounts should be subject
such REVISION, exam nation and public report may
insure to those interested and the pablo generally
such concise, plain and accurate statements properly
atlestcd by the legal officers may give them posi-
two basis upon which TO form their judgment. The
results OF such legislation may provide these neces
stiles for the general railroad system have boon Ia
measure shown by the workings OF nation Al banks
and would be, in general, as follows
Firsf-Organizaiions would not be incorporated with
positive evidence OF actual solvency genuine
.Seeopd-Their management would necessarily be OF
such careful nature as woad insure safety tho
tercsts involved, thereby stopping the epidemic OF
tension and grasp Tor power, tending toward war
runted monopoly, detrimental to the whole country ut
large.
Tard-Specuato on would at best be checked as
values would assured; worthless and Improbable
corporations would expire OF their own rottenness
when, when exposed would necessarily destroy pub
lie confidence, any, in them and, their only support
taken away, they must fall to their level.
a profitable business would thereby be assured 10
those necessary and responsible corporations remain
Ing, and monopoly and Egh tariffs prevented by the
general laws governing ali business which have been
we'll established and proven throughout the whole ex
stencc OF TINS country. Monopoly exist in this
country the open OF trade nor Will the pub
lie bear high tariffs when cxorbtant PROFITS are clearly
shown nv those attempting the imposition.
These but few OF the arising from these
Suggestions, carried out upon the broad views Of the
general protection aud welfare. ana PROVISIONS en-.
immense interests as blcssiug while as they arc now
conducted they must Ultimately prove a curse and
work their destruction regeneration in ma ~.
ner much moro Destructive than above suggested.
Obnoxious and destructive diseases REQUIRE severe
remedies adapted TO their nature and II now time TO
apply "A remedy suitable Tor the case. tho patient
cannot survive SHAKE