The Washington critic. [volume] (Washington, D.C.) 1885-1888, 1885-08-22
SATURDAY, AUG. %, 1885.
our RAILROAD SYSTEM.

Ii needs but cursory glance at Poor 5
"Railroad Manual" for 1885, with its
thousand pages and more of solidly
compactcd information and splendid
series of Illustrative maps, to impress
upon the attention In the most striking
manner the magnitude of the railway
Interests of the United States. These,
indeed overshadow all other inter
csts; upon this vast system of transpor.
tation and tcr-communication all
other interests rest.
1t appears from the Manual that
The total railroad mileage of the United
States at the close of the year
1884 was 125, ,3i9 miles, which is more
than forty.fvc per cent of the total
mileage of the world, Asia, Africa
Mexico, Central America South
America and the great nations of
Europe combined. The cost of these ar
tificial thoroughfares of trade, meas
ured by the amounts of their stock
and debts, was $1Gi6,300, ,O54--over
seven billions and haIf-of which
slightly less than half was stock,
slightly less than this sum bonds, and
1914 ,66G, 500 unfunded debt.
Over these roads during the year
were transported 334 so, 7GG passengers
or nearly seven times the total popula-
tion of the country, than which moth
ing could be more suggestive of the
active habits of our people in the pur-
suit of business, pleasure and indus
trial enterprise.
equalled S90,01i,149 tons, and the
gross traffic earnings of all the roads
were $40, ,6S4 00S, decrease of abou
$50, 900 from the previous year,
but still enormous, and representing
what may be considered the aggregate
volume of normal aud Legitimate
trade. The net traffic earnings were
S26S, 1906, 2jS or 81. 70 of the gross and
there were paid for interest $17G,60i,
302 for dividends S03, PA ,S35.
1t is evident that system with rami-
fcations extending tens of thousands of
miles in all directions and plant of
which, the cost, even excluding the
waterod stock, runs into the billions
must bear close and inseparable rela-
tions TO every branch of industry and
more or less involve the welfare of all
classes of citizens, the investor as well
as man of business, the producer rs
well as consumer, the labOrer rs well
ms capitalist; and one of the greatest
questions of the future, ranking in i'm
portancc with that of the character of
our financial institutions, will be to
solve the degree of relationship which
the railway system bears to the gen
eral government and the extent to which
legislation may be judiciously applied
10 its control.
1t is held by the railroad corpora
lions that they should have the same
exclusive direction of their affairs as is
accorded to private individuals in the
conduct Of their business, and this in a
certain and very large sense is true, but
in a matter of so much consequence as
the regulation of commerce between
thirty eight independent States and the
Territories, there should certainly be
some general supervision of methods OF
management vested in Congress, or in
a body created by Congress, in the in
terest of the people, The banking cor.
porations are subject to legislative in,
hibitions and checks and conditions.
Why should the railroads be restiyC
under the prospect of conservative reg
ulation by statute?