Lancaster daily intelligencer. [volume] (Lancaster, Pa.) 1864-1928, 1883-05-04
1aneaster :9ntelligenccr.
FRIDAY EVENING, MAY 4, 1888
VanderDflt's Roads.

vaHderDfltS ROADS.
The report is that the Vanderbilt
family have unloaded the main part of
their holding or New York Central
railroad stock, which was their inherit,
ance from the commodore, who watered
the stock up to point which makes the
corporation too unwieldy to conduct
with the young and lightly equipped
rival roads that are projected and in
course of construction. There may be
no more definite ground for this report
than its innate probability, which how
ever, makes it easily credible. The
trunk lines between the East and the
West are becoming numerous. There is
one being built out of New Y Ork which
parallels the Central and which is nearly
ready for business. Then Vanderbilt
has started one or two of his own through
this state, which he personally expects,
because of the good country they de-
yelop and the mineral wealth they tap,
to be paying investments. Whether his
purpose is TO make his money by build
ing the roads, in the customary way, or
by operating them, which is the honest
way, we do not know; but probably the
temptation to capitalize the work at
several times its cost will not he resisted,
unless the state steps in to the help Of
Vanderbilt's virtue and effectually
forbids the representation Of IN
expended money in the capital
account. Mr.. Vanderbilt ard his friends
will be very likely to consider that they
still have one better than TIE Pe'!nsyl-
vania with half its capital, and that
therefore they will les. consult their
own interest by stOckin.: their road at
twice its cost. They are probably mis-
taken they will need to be as lightly
equipped as possible for the struggle they
promise themselves with their great
rival. But whether it be or he not
their policy to keep down the
stock of the road to its cost, there
can he no question that this is the
interest of the people, who will hold
their lawmakers to strict account if
they fail to obtain this security from
every railroad built in the state under
its general law. In the interest of Van
derbilt's road, which, it is alleged, is
likely to cost more than S120,OOO a mile,
the Legislature is now asked to repeal
the present limitation of 100000 put
upon the shares aud bonds of railroads
by the general railroad law. But the
Legislature will need, while considering
this subject, to provide that in no case
shall the stock and bonds be greater in
their aggregate than the actual cost Ct
the road; which cost must not be swelleI
by undue commissions for sales of bonds
or 10y undue profits to contractors, or
construction companies, or by any of the
many familiar devices by which the
state and bonds of railroads are swell
ling beyond its real cost. The state
must keep down the capital account of
railroads. 1t must supervise their eX-
penditures. Ii must see that an
honest dollars value it contained in
every pictured dollar of the capital. 1t
must do this for the protection of innO-
cent investors /; but mainly for the pro
lection of the people of the state whom
the railroad is to serve. They must be
served at price which gives fair re-
turn on the actual. and not on inflated,
cost of the railroad.
THE signal success which the public
schools of Strasburg borough have at
tained, and the satisfactory progress
they are constantly making only prove
what can be accomplished in any COM
munity by live and intelligent direction,
liberal patronage and the employment
and fair compensation of fit teachers.
AS the state superintendent pertinently
asks, what is all our tillage of the soil
and material wealth worth without til
lage the of intellectual resources and
the development of the royal citizen
ship of educated men and women
Again he impreSses valuable lesson in
directing popular attention to the fact
that the control of the school system is
with the people in their districts. Then
how important that directors everywhere
should be chosen simply for their interest
in the school work and their fitness to
promote it And of primal concern in
any scheme of popular education is
special attention to the primary schools
Improvement in them is the first sign
of better direction and their condition is
fair test of the prevailing system.
THE opposition to the opening of tht
great bridge between New York and
Brooklyn on the oath of this month be
cause it happens to be the anniversary OF
Queen Victoria's birthday, is senseiess
and discreditable to those who make it
It should not therefore operate to induce
change of the date. Had if beer
chosen simply because it was her ami
versary there might have been some
force in the objection; but not na,lcl
even then. There are only three hun
dred and siXty-siX dates in the longest
year, on which good or bad people can be
born, and almost any particular day that
can be picked out is certain to hit the
anniversary of some of all kinds. TO
change from that of the good English
queen would he in all probability to fall
upon a worse one.