New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1884-12-14
L1TTERD1Y COMMUNIST

! If we must have discussion OF Mr. Reagans
proposition to regulate transportation by rail-
road it is as well that it should be thorough ana
candid. Mr. Reagan honestly believes that 1t
would be a good thing virtually 10 coDiiscatc the
| property of the railroads of the United states.
He does not use that word. but the measure OF
| central which he would establish over the
railroads. under the pretext OF regulating COM
mcrce between the States is neither more nor
less than coniiscation of the property which
private citizens have invested in the building
and equipment of railroads. Circumstances
may arise undoubtedly, which may make it
necessary for the Government to take for pub
lie use the property of individuals but in such
eases both the Constitution and common honesty
have directed that proper compensation shall
be made to those whose property is thus seized.
II the Government does not seize the property
for public use, paying tor it what is right we do
not see that it has any authority whatever to
exercise such control over the property as MIR.
Reagan contemplates
Ii is lust Mt this point that his bill, and all
others like it, are radically defective. Putting
aside for the moment the question whether 1t
would be for public advantage In any respect to
regulate traffic by rail after the fashion he
contemplates, putting aside the vast mass oil
accommodating evidence that every attempt 80 to
regulate transportation by governmental power
has resulted. not to the advantage. but to the
disadvantage of the people, il IL enough to say
that if this can be done il depiivcs the owners
of the right to got any profit out of tho prop
| crtv. But tho property Ia valuable only IA 1t
may yield profit. To seize all possibility of
| profit from tho investment Ia to seize the
property itsclf Ono may ~ further II the
| Government haA the power to Hcisc any part ct
the Legitimate profits arising under previously
existing law from tho Investment made. that
II in effect taking part OF tho value ol the prop
orty for public uSo.
fhis will soom To Nj. Reagan aud Ia some
other gentlemen like him. who represent
ancient and bygone timos altogether n mis-
taken notion, founded on ideas of equity rather
than upon constitutional provisions. Never
thcless no will find that those States prosper,
and those States only. In the long Iun, which
rigidly and faithfully defend the rights of
property of their citizens and of those who may
invest within their borders There are States
in this Union which have fallen far behind In
the race for wealth, which have stood still while
others have advanced with great rapidly,
| WHICH, HuNt anu IOT llllnlBra-
ton and for development of resources, and
longed in vain and in almost every instance
it will be found upon examination that those
States have at one time or another been guilty
of injustice to owners of property, or to
investors on the pref ,xt of defending supposed
rights of the people. 1t is always easy to set up
a plea that the multitude are wrongcd because
this Or that man has millions, and that his
property ought br the public interest to be
seized and divided. Mr.. Reagan doubtless
does not know that this is the precise aniug
of his BILL But it is, all the same