Daily Republican., 1886-05-31

mt the labor meeting last Saturday
night as to why one man, recently de-
ceased, had accumulated 1920, 000, 600 in
q few years, is one that cannot be easily
answered. II a man who Is paid good
wages, say 81 so a day, and he Is en-
abled to save $l00 clear OF that, he
would have to labor six thousand years
to accumulate such sum, and still as
Mr.. Weaver puts it, Vanderbilt could
buy out the man and have million
dollars left for other speculations. The
only conclusion that can be arrived at
Is that there must be something radi-
cally wrong where one man can
grasp 80 much wealth, with ap-
parently so little effort, at the
expense OF thousands OF others who
are kept comparatively poor. A man
who can 30 manipulate money pro-
ducing centres 80 MS to accumulate Van
derbilt's enormous wealth, has 1t with
In his power to double his wealth and
make q corner in money at his pleasure.
We would not, we will not attach any
criminality TO the manner In which
Mr.. Vanderbilt secured his great
wealth. The legitimate channels of
business were open to him, and he Sc
lected those that would make to him
the largest returns. We are more dis
posed to find fault with the leniency Of
o government that has made it possible
for q man with a few millions OF dol
lars to gather up and carry In his
pockets the fate and franchises, the
veal and the woe OF a number OF rail-
roads or other great monopolies. A
careful examination of the American
railroad system shows that along with
their recognized benefits have come the
train of evils that have contributed to
tho businoSs doPrSSsion and labor
troubles that agitate the country. The
enormous wealth Of these corporations
has debauched Legislatures; has exalted
some communities and ruined others;
has enriched some few men enormously
aud i'm poyerished others; has assumed
control of the commerce Of the country,
and exercised its power In a most arbi-
trary and despotic wsy-in short, the
evils that have followed in its train
have correspondent in magnitude with
the enormous expansion OF she rail-
roads themselves. It is also pertinent
to ask whether the evils tina. permeate
our railroad system are the inevitable
and necessary Accomplishments OF rail-
road growth, whether unjust diserimi-
nation, stock watering and pooling
combinations are inseparable from
legitimate railroad building and q fair
and honest system of management?
Let US pursue this question littli
further, and get down little deepe
into its merits and see ii there Is no
cause for legislative interference I,
check the manifold abuses that hav'
crept into the American system of rail
way management. These abuses ar
manifest on every side. We have onl,
to refer to the collision Of railroa
companies with tbs Standard Oil Com
pany, monopoly that holds States i
grips of steel and Influences Legislation
by electiDg United States Senators an
mem bers of the House OF Representa-
tives at will. That company that EN-
bodies every bad feature of corruptio
and unlawful domination has 30 boun
the railroads to it with corrupt tie
that the whole country has raised tn
cry of Indignation over 1t. Fifty mil
lions of people have, through this cor
rupt discrimination, been made to pa
tribute to an all-grasplng monopoly
Need any one be told Of the Grim
practiced upon innocent investors
the process of watering stocks? Nee
we AK how road that cost SCI, 900, on
to build Is capitalized at $3.50, 600, 0OC
Or need we ask how two railroads
the Stare OF New York, capitalized
$500, 600, 900, carries no less thu
watered stock?
To enable these roads to pay dix
dends on this enormous issue of stoe
and bonds, resort to pooling and co
binations is had, which sets aside
the legitimate results Of fair aud hon
able competition, and oompels the
land commerce OF thu nation to pay
annual tribute to these all-graspi
monopolies. Pools have succeeded
setting aside fair competition aim
entirely. Il Is estin ated that not |
than five per cent. of the traffic of
nation is carried on In purely com pc
tive basis.
Here we have an insight into SO
of the corners OF commerce and trs
that make men suddenly rich or ST
denly poor. TIE tenn ptatian is great
enter into these sneCulations, and
man who has the most money 10 put
and has besides a steady and DEF
mined nerve, may be a future Wand
bilt. But the broad question, at to
honesty of becoming millions
through such purposes are potent poi
ers that the honest judgment of hon
men will condemn.