The Emporia weekly news. [volume] (Emporia, Kan.) 1881-1889, 1882-12-14
IoOR oN M0NoPoLIEs.

POOR ON AONOPOLIES.
Chicago Tribune: The railway mo.
nopolists have at last indicated the law
by which they desire TO be controlled.
Mr.. Poor, of the Railroad Manual, says
that Messrs Vanderbilt and Gould, "are
governed Ly public opinion" 1t is not
long since Mr.. Vanderbilt was reported
as speaking rather irreveTently of the
public. II is said that he said: "rhe
public be dsmnedl" He probably
makes distinction between the public
and the opinion of the public, since
Mr.. Poor says he is governed" by the
latter.
II is not unnatural that the monopO-
lists should be willing to be governed
by the public opinion when il is con-
sideTed what public opinion has per-
mitted them t. do. Presumptively pub
lie opinion Is, on Mr.. Poor's theory, to
be charged with the entire responsible
ty OF whatever Messrs. Gould and Van
derbilt may choose TO do in the future
as we'll as what they have already done.
In the past there Is the watering of the
stock of Hudson River 81 New York
Central by Mr.. Vanderbiit's father, and
the watering of the stock of Erie by Mr..
Gould. The two lots OF water aggregate
little over $lO0,0O0,OOO MIR. Wander
bilt has very generously poured his
share of water into the United States
treasury apd taken out CSC, 100000 In
per cent bonds. so that the water the
father put into Hudson River s. New
York Central pays the son The neat lit
tie sum OF $4,000. 900 per annum. This
is one OF the items the public pays Mr..
Vanderbilt {, the privilege of govern
ing him! What a splendid thing 1t Is
10 be governed, to be sure Who
wouldn't be governed at that rate?
Every man who rides over Mr.. Van
derbilt's water laid rails contributes his
"m'te" towards the grand sum the pub
lie pays him for the privilege of govern
ing him, and Every man who sends a
car-load of merchandise over the Hud-
son River 81 New York Central does
likewise. 1t was u beautiful arrange
ment that Vanderbilt senior made with
the public on the subject of govern
ing" Come" he said TO the public.
"give me $50, ZOO, 900 and you shall gov
ern me forever" sBut we haven't got
the $50, 200, OO0," exclaimed the public
"Oh, you are dull" rejoined the good
old Commodore. Il don't want any
thing down Just let the New York
legislature pass u bill authorizing me to
make watered stock as good as real
stock, and the thing is done. Then I'll
issue $50,O0O,OO0 worth of water and
charge few cents extra on each passen-
ger and a few cents extra on each ton of
freight, and So get my $4,000, 600 of an
nual interest. II is just as easy as ly-
ing" proceeded the Commodore. "All
you need To do is TO keep still. I'll even
pay the legislature for passing the bill,
and you shall govern me forever" Well,
the public said it was trade, and the
Commodorc's son inherited the water in
the stock, and the public's sons inherit
ed the privilege OF governing the Com
modore's legatee and of paying for it.
The business of governing monopo-
lists is rather expensive. but then il is
very stimulating TO the emotion of gen.
crosby and all the other high moral
sentiments. The Lille of generation is
about thirty years; hence IL costs each
generation of the American public about
$50, 100000 TO carry out the provisions
of this particular contract of Commodore
Vanderbilt, and as much more to keep
its contract with Mr.. Gould on Erie.
But this is only bagaielle. for both
Gould and Vanderbilt are making SINH
lar contracts as often as the opportunity
occurs. MIR. Poor does not state tie
principle in exactly this way, but his
argument proceeds upon the theory that
the public exists simply for the benefit
of Messrs. Gould and Vanderbilt. He
| says.
Moral attributes have no moro to do with
railroad management than they have with
the manufacture of pig iron. This Is precisely
| as IL should be. Mr.. Vanderbilt and Mir.
Could arc In tho railroRi busine 10 make
money. assume that neither OF them cares
n copper about the public except so far rs n
well ordering of public Affairs increases the
ability OF the public TO pAtrOnlEe their
works.
Probably Mr.. Poor did not wish tn be
charged with plagiarizing Mr.. Wander
bilrs famous remark, 1.-The public be
damned" so he put the same sentiment
in different language. But feeling, evil
IDENTIFY, that it was not strong enough
not SD good SIS Vanderbilt's nphorism-
he put it in another form. as follows:
In- otherwords, they Gould and Wander
bilt will treat the public VOL when they lind
It to be for their intere and are by cOmpeti
ton obliged TO do so--that is in n large number
of cases. But when there Is no such obliga
ton or sense OF self interest acting opon
their conduct they will not forget that they
"are in the railroad business to make mon
ey :" and that moral attributes have nothing
to do with railroad management"
This entire elimination of moral at
tributes" from railway arrangements il
precisely as it should be, because il
leaves the whole stock of moral attri-
butes' for the exclusive use of the gov.
crning power-public opinion. Thu:
public opinion may dwell with serene
satisfaction on the intrinsic beauty o.
moral attributes, and govern the monop
olists, white the monopolisis dwell a.
serenely upon the fact that stocks thai
cost nothing are just rs good us stocks
that cost something, since the public
good, generous soul-pays dividends OF
the one as freely as on the other. Dan
iel Webster earned the title of thu
Great Expounder of the Constitution
Poor may take the title of the great ex
FOUNDER of Vanderbilrs remark-''tht
public he damned"
"Gath," in the Cincinnati Enquirer
4 gives some interesting railroad stats