The farmer and mechanic. [volume] (Raleigh, N.C.) 1877-1885, 1881-06-30
RAILROAD PRoFITS.-We have re

RAILROAD PRoFITS--We have re
ceived from the National Anti Monopo-
Il League (No. WarrenS st. Nv York
CITY q lengthy. but vigorous article rs
Homer II. 5 uari, Esq au old and
highly respected member Of the New
York. Bar. which VS. wrilic. 10 an
sxer certain propositions contained in
a recent paper ry Mr.. Edward .AfkIu-
$40. who CLAIMS that railroads should
'e allowed l. 10 ~ ies please, or. IL
other words. that corp ration, which
the people have c Gated should lie per
nittel 10 rule the Poop { auj take such
share Of the profits 81 production aaI
commerce Is they e. n.
Mr.. Stuart Urea. The question prIn
cipaily IN it, legal and constitutional
aspects, but there are facts connected
wich the mechanical part of operating
railroads that e~ffectually refutc Mr..
Atkinson ; proposition, We are indent
cd TO railroad consultations far the
large and steady reduction in rates
which has taken pace. WhIl-. OF
course, long lines can be operated pro-
p~Oitlonately cheaper than short ones.
yet the great economies made in rail
transportation have been the direct
result of the inventions of Bessemer
am others by which steel rails have so
largely taken the place of iron rails.
10 1869 iron rails were quoted at SO to
7S per ton in 1881 steel rails, tuSttng
from three to Hce ttmts IS tong, cost
500. Another consequence Is that
heavier locomotives can be used. and
the freight locomotive Of to-day hauls
from 30 to 70 per cent. more thar ten
years since. Freight cars usei TO
weigh 10 tons and carry 10 tons; now,
with but little increase in weight, they
carry Is and eve 20 tons. Improved
signals, improved methods Of handling
freight, and labor-siving inventions Of
all kinds, together with increased
business resulting from increased popu
lation. have reduced the cost Of trans
portation to a point which the railroad
expert of ten years since would have
deemed impossible; and it is owing
principally to these, and not the pools
and consultations, as Mr.. Atkinson
would have Us believe. that charges for
transportation Lave decreased.
The enormous fortunes suddenly &C
CURED by railroad men are a standing
retutation OF the assertion tina. the PEG
pie have shared in the benefits of steam
roads to the extent they, US the natural
owners of all highways, are entitled to
share; and, in fact, the highest legal
authorities proclaim that railroads have
only the right TO take toll for a given
period specified in their charters; that
such tolls or charges must be treason
able;'' and reasonable was defined
(whcn the rate Of interest was much
higher than it nov is as a rate which
would yield 10 per cent. net upon the
capital actually furnished to construct
these improved highways; and it should
not be forgotten that this was to he
their own capital, not money taken
from the pockets Ct the people in the
shape of surplus earnings, or imaginary
capital. There can be no doubt but
that all advantages resulting from III
creased population and great invention,
like those above mentioned should,
after the inventor has been duly com
pensated as provided by our patent laws
accrue to the public. 1t is safe to say
that if these principles, which at this
time are the law OF the land, were en-
forced. the public would enjoy the
benefits of steam and electricity at half
the cost they now do, and great mo
nopolies would not now be So rapidly
concentrating In few hands the wealth
of the nation, in direct opposition to
the spirit, and seriously e~ndangering
the permanency, of our free %institu-
tons.