Eureka daily sentinel. [volume] (Eureka, Nev.) 1871-1887, 1884-07-23
THE ONE OBJECTION
Cleveland's Veto of the Five
Cent Bill.

TO the Citizen Every Legal and
Moral Obligation MUST be KecOg-
nized."
1t is the duty of American citizens,
without bias or prejudice. to consider the
character Of those men whom political
parties put forward as candidates for high
offices. Especially true is this in regard to
those who aspire to serve this great nation
in the Presidency. 1t has been said Of Gov.
Cleveland that he is q friend to the rich
and an enemy to the poor, and this charge
is based on what is commonly called his
"veto to the ive-cent BILL" We commend
the following article, taken from the rsdi-
cally Republican Sacramento Record
Union, as the ~olearest and probably the
most reliable statement Of the Elevated
Railroad bill, that has appeared since the
present campaign opened:
The demand for rapid transit had long
sgitated the people of New York City. The
rapid growth Of the chief metropolis OF the
country demanded speedier means OF com
munication and movement among its PEG.
pie. Elevated Railroads were suggested as
n Of the methods Of answering this de-
mand. But because Of the assaults that
had been made upon organized capital in
such industries by the divine" party, or
communistic element, and the craze which
had been ~inaugurated against railways in
general, capital was timid about new VEN
lures. The Legislature Of New York found
that IL was an absolute necessity to make
loud bids aud strong ones to secure the
necessary enlistment OF capital in rapid
transit enterprises. To that end it passed
9 series Of acts that most urgently invited
capital to build and operate the desired
roads, and guaranteed it sure returns.
Finally several companies were organized
upon the faith OF. these acts Of the Legisls-
ture, and subsequently, all these roads came
under the management Of the company, on
the principle that consolidation was con-
duciye Of economy Of operation, and would
secuae the largest benefits both to the peo-
pie and to the corporations. In each OF
these acts there we're specific guarantees
that the rates Of fare should be specified
sums, and that no reductions therein
should take place until the earnings should
aggregate Q certain percentage upon the
capital actual employed. That was TO be
ascertained by Q commission appointed by
due authority. They also provided tina.
five per cent OF the net earnings Of the city
Of New York, for the use Of that municipal
ity. That sun now aggregates $3.50, 900,
and taxable property, by reason Of the
roads, has greatly enhanced in value. No
n OF these acts places the fare 1t less
than five cents for given distances. these
being specified, and lone of them covering
the whole length Of the roads. The max
imum fare for q through trip was fixed in
some cases at ten and in some fifteen cents.
Generally the fare was five cents for five
miles, and from one to two cents for each
mile or fraction in excess. But eubse-
quent to all these acts, and the exact de-
tails Of which are not now necessary to be
recited, the railway commission Of the
State Of New York, with the full concur
renee of the press and people and the
necessary Official bodies. entered into a
compact with the Elevated Railway COM
panies 70 run morning and evening "com-
mission" trains for the special accommo-
dalton Of the laboring classes, and the fare
ON such trains should not exceed five cents
between the Battery and Fifty-ninth street,
or any other distance not exceeding five
miles. and that between the Battery and
Harlem river it should not exceed seven
cents. and between the Battery and High
Bridge eight cents. But on all other
trains, for five miles, the fare should not
| exceed ten cents, or two cents for each
mile or fraction in excess. and not over
fifteen cents for q through trip. 1t was
| also agreed that when the net income OF
the road amounted to enough to pay ten
| per cent on the capital commission"
| trains should be run at all hours at the low
rate. .
Under that agreement the Elevated Rail-
way was constructed out to the Harlem
| river, q distance Of ten miles. Last year
| the Legislature of New York passed
an act reducing Che fare for all dis
tances on the road to five cents. That
| bill Gov. Cleveland vetoed. If be was right
in so doing, he should not now be
made the object OF assault. That he vas
| justified in his veto by every dictate Of
Justice, and the sentiment of fair dealing,
we do not believe can be successfully con-
troverted. II would appear to the fair
minded that the reasons for the veto need
not be recited. They are patent upon the
face of the statement given. The legisls-
| ton recited was . contract, he commended,
between the people and the men who built
| the roads, and 40 such should be honestly
! observed by the people. That agreement,
said Mr.. Cleveland, ia protected by the
| Constitution Of the United States, that
prohibits any State to pass laws impairing
the obligations Of q contract.
But il q Legislature may alter and amend
the charter Of a corporation at its own OPP
| ton, yet in common honesty, when it has
specially agreed not to do so. 1t should ad-
here to the spirit Of its contract. By the
| Act inviting the building OF the road the
legislation regarding freights and fares on
| the road, said: 1.-THE same shall not, with
| out the consent Of the company, be SO re-
duced as to produce with said profits less
| than 10 per centum per annum on the
| capital actually expended; nor unless on
| an examination of the amount received or
| expended, to be made by the State En-
| gineer and Surveyor and Controller, they
shall ascertain that the net income derived
by the company from all sources. for the
year then last past, shall have exceeded an
annual income Of 10 per cent upon the
| capital Of the corporation actually. ex-
pended" What Gov. Cleveland said in
| bis veto message must strike every honest
| man with the force of conviction: "It
seems TO me that to arbitrarily reduce
| these fares, at this time and under existing
| circumstances involves q breach OF faith
a. .ha mart of tha State. and q betraval OF