National Republican. (Washington City (D.C.)) 1872-1888, 1881-10-14

President Garrett, of the Baltimore and
Ohio Railroad, reports TO the stockhold-
ers that notwithstanding the low rates
compelled by the railroad war during
September, the road paid ten per cent.
cash dividends for the year ending with
that month, and left a surplus of 81 ,400,-
600 not represented by stock or bonds.
That is TO say, the high and exorbitant
rates exacted through the year for fares
and freight were not necessary in order
TO make the money invested in the road
yield fair return. The farmers of the
West and Middle States have been taxed
to make the road pay not only ten per
cent. year on its stock (watered and ally,
but nearly million and half besides.
The bonds of the United States are
eagerly sought at three and half per
cent. year. The owners of railroads
must have three times that rate of inter
est on their investment, and big sur
plus besides, for heaping measure.
The Baltimore and Ohio Company is
one of the fairest in the country. We
only use the report of its President as an
illustration ofthe system.
But II is agrarianism to speak of this.
Let the producers toll and sweat to add to
the millions already extorted from them
for tolls by rail- When they get tired of
it they will perhaps take some part in
the government and condemn the rail-
road tracks for public use, making fair
Recommendation IN thn otynnra
The farmers and other frcighters seem
TO think there is some divine right on
the part of the railroad companies to
make the bargain for both sides. If the
railroads were private property they
could only be used at the will and for
the price demanded by their owners.
But as they never could have been built
If governments had not condemned
private property for public use, and also
made grants of public property to give
them the right of way, so they never
have been private property. The road
beds belong to the public or private pro-
prietor; the right Of way alone is per-
mhied to the railroad companies on con-
dition that they shall comply with what
everrequiremcnts the people may from
time to time decide to be just.
This tremendous power should not be
carelessly invoked either by agitators or
railroad greed, nor should it ever be OPP
pressively used. But whenever it becomes
necessary for the general welfare the
roads can become national post-roads,
over which private carriages and wagons
propelled by steam may travel on pay
ment of toll, or the control of all the
roads may pass into the hands of man.
ayers appointed by the Government.
Railroad property is only private prop
erty so far as engines, cars, and depot sites
actually conveyed to the companies are
concerned. They ncmore own the highydy
on which their iron rails are laid than
steamboat propHetors own the rivers on
which theys6oat or the cartman owns
the Streeto road in city or county over
which he drives his horse and cart.
E GT' all wrongs there is remedy. In 0
country which borrows money from its
millonaires, like Vanderbilt, at three and
half and four per cent, the millions who
till the ground and the millions who toll in
factoriessyill not always consent that the
transportation tax on their products going
to market shall be fixed 80 high as to
yield ten per cent. and more on money
invested in railroads.