Sacramento daily record-union. [volume] (Sacramento [Calif.]) 1875-1891, 1884-01-30
EVIDENCES OF MALIGNIIY.

A San Francisco paper makes labored
effort to show that there is evidence of ap-
preaching bankruptcy in the market de.
cline of Pacific railroad stocks generally,
and prophesies with unctious glee still
further shrinksge and final collapse. The
whole thought of the article, and of sev-
eral of like character which have pr eceded
it during recent months, is that this bank
ruptcy would be a beneficial contamination
for the Pacific States. TC the business
mind this conclusion will appear very lame.
Waving the false premises and the falla-
cious inference for the moment, it will
occur to the thoughtful that there can be
no profit to a country in the collapse of its
railroad system. Suppose it to be possible
that malignant assaults such as those to
which we refer can so far discourage conf.
dence as to bring ruin to any part of the
coast railroad system, and financially Grip
pie all of it, what benefit will &C
crue to the people of this coast? Obvi.
ously none. The truth is, that these per-
sistent attempts to belittle the credit of
the various transportation companies is the
result of personal spite. The good of the
people is not factor in the consideration
of these men, whose animosity is measured
only by the amount of injury they believe
they can iutlct upon the railroads. For
precisely similar reasons these same agen.
cies have sought to regulate the business
of the rail carriers-not to secure low
rates for shippers so much as to narrow
the income of the transporters as means
of punishment. There is no possible es-
cape from this. The history of the agita-
ton of last spring and summer, and the
conduct of the anti.railroad factions estab.
fish the fact beyond question, and the
demonstration is capable OF being made
from the steps taken and the arguments
adduced in the whole effort to
Indignantly influence regulation. There
seems to have been no other object
in view than punishment no other spirit
manifest than that which would regulate
rates OF transporting freights and passengers
from the standpoint of injury to the car
riers. There is consolation to the carriers
of the coast, however, in the fact that
sooner or later the true commercial prin.
ciple will be in the ascendant business
prudence and wisdom, for a time terrorized,
eventually dominate the trade systems OF
the country. They cannot be suppressed,
nor their operation permanently prevented.
THE GERMAN IEDEMSIrY SCHEME.
II the laws of this country provided that
all employers should set aside given sum
monthly. proportional to the rate of wages
paid each emplOye, to constitute a fund
for the relief of workmen incapacitated by
injuries received in the course of employ
ment, American employees would not be
deceived for moment. They would per
ceive instantly that the reservation would
be paid by them; that whatever went into
this fund wonld be drawn from their
wages. Yet. in Germany precisely such a
scheme has been set up by Bismarck, and
presumably under the belief that the Ger
man workmen will not discover that this
insurance system is simply to be enforced
against their income in other words, that
they are to be required to insure each
other. The scheme viii not work, and
even the provision that the Government
shall supply any deficiency, will not save
it from collapse. The working classes of
Germany may for time be led to believe
that the plan is a gain to them, but it will
not be long before they will realize that
out Of their wages, and not out of the EN-.
ployers profits, the fund will be created.