Workmen's advocate. (New Haven, Conn.) 1883-1891, 1888-12-29
A GIG ANTIC TRUST.
UNDER DOMINATION OF LAW
AND PUBLIC OPINION.
The Words of the President of a Great
Railroad System-His Yirtu0us
Indignation - Criticizing
the Railroad Manag-
ers' Morals.

How would it be, for a change,
to let tirst-class capitalist assist us
in the propaganda? We have an
opportunity to present a synopsis of
a speech by Charles Francis Adams,
President of the Union Pacific Rail
road Company, in which he, per-
haps unconsciously, arrives at a con-
clusion which might s'Jartle his fel-
low capitalists, did they but think
logically, and expect that at some
time or other the government, the
people, may act on SOU d economic
principles in the matter OF the large
Industries. 1t was before the Com
merclal Club, of Boston, that Mr..
Adams delivered this address which,
while it dealt principally with the
Interstate Commerce act, pointed
out plainly the tendency toward the
concentration of railroad admins
tration. He said:
"You have asked me, as the represen-
tatlve OF one of the large railroad sys.
tems or the country, to express my
views this evening on the subject of the
Interstate Commerce act and its practi-
cal working. as seen through the expert
ence of the last two years. Just now we
hear, especially in financial and railroad
circles, loud denunciation of this law.
1t is constantly referred to as the pro-
litic source to which all the evils under
which the railroad system is now suffer
ing can be traced. For reasons svkiCh T
shall presently state. do not consider
the Interstate Commerce act as in all
respects well considered or beneti-
cent law. ! am very sure that it has not
produced the good results which were
hoped from 1t; but yet | see no good
reason for referring to it in the way so
common of late.
THAT the general railroad situation of
the country is at present unsatisfactory
is apparent. Stockholders are complain
ing; directors are bewldered bankers
are frightened. Yet that the Interstate
Commerce act is in the main responsible
for all these results remains to be
proved. In my opinion the difficulty
is far more deep-seated and radical. In
plain words, it does not lie in any act of
legislation, State or national; and it does
lie in the covetOusness, want of good
faith, and low moral tone of those in
whose hands the management of the
railroad system now is--in word, in
the absence among them of any high
standard of commercial honor
"These are strong words, and yet, as
the result of a personal experience
stretching over nearly twenty years, /
make bold to say they are not so strong
as the occasion would justify. The rail
road system of this country, especially
of the region west of Chicago, is to-day
managed on principles which, unless a
change Of heart occurs, and that soon,
must inevitably lead to financial disaster
of the most serious kind. There is
among the lines composing that sys-
tenn an utter disregard of those funda-
mental ideas Oh truth, fair play and fair
dealing, which lie at the foundation not
only of the Christian faith, but of civil
cation itself. With them there is but
one rule, that many years ago. put by
Wordsworth into the mouth of Rob
Roy:
1.-THE simple rule, the good old plan.
That he shall take who has the power,
And he shall keep who can
"The thousand evasions of the Inter
State Commerce act cannot be proved
in court. Yet among us railroad men
the fact that these things are done is no.
torious. 1t is all part and parcel of that
sneak-thief and pickpocket method of
doing business which has become Sec
ond nature in certain grades of the rail-
road service.
The community, and least of all the
railroad community, should not, there
fore, either be deceived or deceive them
selves. 1t is this absence of good faith,
this greed of acquisition, this turning
over of business to subordinates to hack
away at each other at the expeise OF the
IRE ckholders, which has brought the
N thead system to its present low con-
slv or, and threatens to carry it still
Il To attribute it to the Inter
Iaggafus. ameree act is an utter mistake.
were totally repealed to-mor-
N lproduce but temporary
y Sbing relief For few
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