New-York tribune., 1877-08-21
cONcRFSS and THE RATLROADS.

Secretary Shermans speech in Ohio confirms
the impresson, naturally caused by the plat
form of the Ohio Republicans and the utter
ances of Mr. Stanley Matthews, that there is
to be a strong effort made this Winter to ex
tend the control of the Federal Government
over the railways. Mr.. Sherman does not very
clearly define his idea as to the extent OF this
control. but SAYS that the conviction has been
growing with hm for years that some control
must necessarily be exercised. Nh. Matthews,
in conversations of which the reports have not
been contradicted, though they may have been
inaccurate, seems to have gone much further.
The Ohio platform, in that part said to be
framed by him, certainly goes much further;
indeed, the distinction between absolute con-
troll of railways and that measure of super
vision which is there proposed is too shadowy
for the unassisted vision. The language used
is certainly remarkable enough TO be repeated
1--WE recommend that Congress exert its authority over
all national highways OF trade, by prescribing and en-
forcing such reasonable regulations as viii tend to pro
mote safety OF travel, secure fair returns for capita
invested and'fair wages TO employees, preventing mis-
management, improper determinations, and the as
grandizement OF the officials at the expense OF stock
holders and shippers and employees; third, that
provision be made FOR statutory arbitration between
employers and employees to adjust controversies,
conce interests and establish justice and equity be-
tween them"
If there is any other thing which Govern
ment absolutely controlling railways can do
about them, short of the actual appointment
of officials, employees, agents, and the making
of contracts, perhaps some future convention
will point it out. If Congress is to prevent
the aggrandizement of officials" at the ex-
pense of all other parties concerned, 1T will
have to provide for the selection of officials,
for no other regulation will check the power
of men selected and trusted by directors and
stockholders. If mismanagement and improper
determinations are to be prevented, Congress
may as well vest the appointment OF the
agents and freight officials in some officer of
the Government. If Congress is to secure fair
wages for employees, no matter how minute
and ingenious its regulations, it will need
Government officials to enforce them and that
mower of enforcement granted, may as well
select the employees, just as the Custom House
officer selects his subOrdinates, or the naval
officer the hands in the ship-yards. In
short workmen are to be hired or re-
iected contracts are to be made or re-
fused. officials are to be appointed or dis
charged, on all the railways IN the United
States, by political influence. 1t is not easy to
say how great IA power may thus be concen-
trated That sort of Republic is France
which differs from the Government of Russia
or Turkey principally i'll name and in hope.
How will this scheme work for the Govern
ment and for the financial interests of the
country7 American railway bonds and stocks
are held in Europe. Now they are supposed
TO rest upon contracts between States and cor
porations. Then they would rest upon the
whims of an accidental majority in any Con-
gress, or the political necessities of any party
in power There are idiots in Europe, and
we suppose there are people who would will
ingly continue to invest money in railways on
such conditions, but we suspect not very
many. The flood OF securities returned from
abroad, in event of the passage of such an act
as the Ohio platform cOntcmplates, would make
our largest conceivable exports Of produce in
significant in financial comparison. Borrowing
money abroad-who would attempt it? To
borrow money on the bond of the Government
is one thing; to borrow on the faith that no
combination of officials, for corrupt or political
reasons, would ever miSmanage any railway,
would be another and very different thing. Re-
turning bonds and stocks would mean new
panic bankruptcy to many roads, banks and
financial institutions, and greater disasters than
they have yet seen to labCrers.
AS to the Government, this scheme IN cans an
attempt to indefinitely extend its powers. IF it