Fort Worth daily gazette. (Fort Worth, Tex.) 1882-1891, 1886-07-02

pleted OF nearly complete, converge on
Galveston, that can drain territory In
which there is over four thousand
millions OF wealth and which must find its
nearest road to the sea across our coast
Bat other gian. lines also touch our coast
and, crossing the state, tantalize our sea-
poris by wheeling our products 70
New York from their very doors. Only
last year cotton was carried from waco
to Liverpool by way OF New York for hye
dollars bale, and yet the charges TO
Galveston were three dollars and seven !
ty-hye cents.
The Galveston News OF June 80 uses
this language:
att viii he ,eadlly understlo that n freight |
IN "a can be so heaponed Hs to justify home 4
BUYERS for foreign markets In paying Det 90
prices ,oI nas pr9I1gg sge Sf seawar in
stead OF retaining IN, M At home 10 De convert
ed into improbable pork. These deer PIE re.
suit, are 70 be achieved BY me a9 ,ga innu"nco
The News Is right, II competition VIII
exist. But who ever dreamed that com
petition will cheaper freights, while pool
ing and combination Is possible, and
what assurance have we that the com
petiDg lines Of to-day will not be consol-
dated or IN pools tomorrow
How can we ever prosper so long as
hiah tolls are collected on local freight in |
order TO sffgrd cheap rates on long hauls |
TO New York? Let me illustrates A |
Brazos planter three years ago desired to
quit growing cotton and TO cultivate |
corn, with view OF selling II al Laredo
and to Southwest Texas, but he found
that the freight rates from Hearne to
Laredo on corn were double that charged
from Kansas City to the same destlna-
ton. The same planter sent baled hay by
rail TO Galveston, 200 miles, and it
took just one-third OF the sale price to
pay transportation. How can state ever
prosper whose laws fix the maximum
freight charge so high that corporations
may establish under 1t sliding scale
that makes 1t impossible to transport our
products
EXCEPT AT RUINous RATEs2
Our mistaken policy ofle alone, places
our people at this day at the mercy Of
railways and is prostrating all the inter-
ests Of agriculture. Our policy is worse
than idiotic, it is criminal. Give to any
corporation power to confer prosperity
or adversely, and you place premium on
corruption and sycophaucy, aud that
power the railroads OF Texas this day
exercise over men and cities. The pool
10 Ni ilANkhl auh illAllAdA W
suppress competition and establish mo-
nopoly, aud our agriculture will remain
| lettered, and deep water myth, until
not only is pooling made
odlous but railways are restricted
by law, and an intelligent commission
viii enforce freight rates that will pay
only fair interest on the actual value OF
the road.
When three weeks ago Senator Coke
spoke In the senate Of the watered stocks
Of always and placed ITS amount ut two
thousand millions, he was fur short OF
the truth; 1t amounts In America to three
thousand seven hundred millions. Think
OF itl Fictitious values written on pa.
per that represent nothing but the rascal
ity that wrote those watered stocks and
bonds into existence, amounting to twice
, as much as the national debt, and or
, which the productive energies Of the
, country must pay freight charges Thos,
! stocks represent no hour Of labor, no dol
, lar OF value, and yet freight rates are
Used to force dividends on them. This cal
only be stopped by commission always
, on the alert, and fixing and changing
/ rates 50 az to yield fair dividend OF
1, values actually invested after defrayipI
! expenses and paying fair wages to labor
! When this Is done the home traffic oil
, short hauls cannot be oppressed to secur,
: low rates for the benefit of long hauls t
. New York. Federal law to control inter
, state transportation Is also necessity.
, No man doubts the justice of such a re
! form; does any one doubt our legal righ
4 To effect itP Listen then TO the testimony
n of Mr.. Jay Gould before the labor com
mission on the 9th of September, 1888
IIa autds On, L.. a.
with public rights and has duties to tn,
= public, and regard those duties as para
y mount really to the rights OF the stock
y holders" Again he said, speaking OF leeis
= latvecontrol, "thelr control Is paramount
{ to every other control" On that SAM
= day r,Gould was asked, fought corpora
= tons be allowed to charge and collec
y from the public dividends on an amour
!. OF capital stock largely In excess OF tn
- money they have actually invested--ough
! the government to interfere and effect
= reduction OF charges?" He answered
!, "Well, as far as | know, most of th
. stockholders would be very glad to hav
= the government do that, II they woul,
y guarantee fair dividend, | know
! would" Now the government neve
y guarantees Its work, but through CON
= mission II should secure fair dividends o
!, actual road values without guaranty
: Surely Mr., Gould's testimony viii be rc
y ceived by these who so frequently remin
y US Of the timidity Of capital. Aud RICH
\ here let me say that an honest man shout
a feel more concern In protecting capits
: already invested in agriculture an
!, elites, than inviting corporate power t
a increase Its area OF
10 UNREsTRAINED PLUMBER.
II hold In my baud statement certiae
II TO by the comptroller of the state, an
in made from the sworn reports of tho NJ
ID X & T. and II. L.. & r. IL. railroad.
nj showing that II 60 per cent. Of its gros
70 earnings for 1885 be taken for current O.
ID penses, that road paid that year 2S4 pc
Of cent, on valuation OF $40, 900 per mil,
IL Remember, also, that this was done wit
ne low freight rates on its long hauls. An
"a yet there was no dividend, and we al
N told that the roads don't pay What b,
be came OF that 20 per cent? IL was sun
ly by the New York holders Of the watere
bonds We have no competing waite
u.