Iowa County democrat. [volume] (Mineral Point, Wis.) 1877-1938, 1881-12-30
Gross Net
Earnings Earnings. Debt.


These statistics give a faint idea of
the tremendous amount of capital that
is being employed in the railroad en-
terprises of the country, and the mighty
influence it would be capable OF WELD
ing in commercial or political way,
provided 1t could be concentrated upon
given object. But this danger is not
nearly so great as many people appre-
bend who take one-sided view of the
case. Many of these great roads are
| rivals. and will cont to be as long
as they exist, from the nature of their
work and the object of their projectors.
| What is for the interest Of one is not
always for the interest of another, and
the inducements that one holds out to
secure trade and travel for its line often
| force others To make deductions that
inure to the benefit of the community.
A great corporation is not necessarily a
great monopoly, but may be so con-
comforting and dispensing blessings up
| on all With the reach of its influence.
The great gain to the farmers of the
west, and to the produce consumers of
the east, in the decline of railroad
charges during the last ten years is
enough to astonish the farmers them
selves. 4 reduction of few cents per
100 pounds upon freight between Chi
cago and the seaboard signifies saving
of so much money in the pockets of
the producer or consumer. To make
this matter plain, Mr.. Edward Atkinson
bases some estimates upon the business
of the New York Central and Hudson
River railroad, and the calculation Is
astonishing. He says:
"The total saving to the whole coun-
try in the cost of moving merchandise
from 1870 to 1879 inclusive, period
of ten years, as compared to the rates
charged from 1866 to 1869 inclusive,
has been 81 200,000,CO0, or 500, 600. 900
more than the reduction of the nation
al debt since the war ended. In the
case of the Central the charge for NOV
ing 9,441, 213 tons of freight in 1879
was SIS, 270,050, the rate per ton per
mile being 1851 cents. Had the
charges been as high as in 1866,
the transportation of the same freight
would have cost 81, 920,050, or 6567
cents per ton per mile. The New
York Central line does about one
twentieth of the railroad business Of
the United States. The conclusion Is
obvious that the reduction of the trans
portation tax adds vastly to the amount
of capital available for use in further
railroad construction and Ii other
ways"
Mr.. Atkinson thinks that the farm. Is
of the west secure large proportion
of this reduction, as the statistics d
the NeS Nu:k market clearly
show. The average prices in
that city Of given quality Of flour
wheat, corn, ua'1, beef, pork, lard
butter and wool in 1880 were only q
fraction less than in 1869. The cost u
moving thirteen tons of merchandise
made up of these nine articles from
Chicago to New York in 1869 was $1St
and in 1879 Sol. the difference being
$124. As the New York price was
about the same in each year the west
ern producers and sellers received the
gain
In most Of the western states the
railroad corporations have been put
upon their good behavior ~ by the
construction of rival lines; ~ by the
right of the legislatures under the con
stitution to take the property and fran
chises Of incorporated companies and
subject them to public use, the same
as private property; 81 the police
power Of the state can be exercised al
any time to prevent corporations from
so conducting their business as to in
fringe upon the equal rights Of irdi-
L. i 4 l., ~ H.
power of the legislature to annual any
charter that it has granted whenever
the business of the company is so con.
Quoted that it becomes injurious to the
public welfare, and (5) that the popu
lar jealousy that exists in the commu-
nifty against the overreaching policy OF
corporations. Herein lies the safety
of the people.