St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1889-07-29
A TRUST OR BUST.


If the statements of the Chicago rail
way magnates are to be credited, West
ern railway interests are in an awfully
bad fix, for bankruptcy stares them in
the face unless panacea can be speed
lily administered. They unite in saying
that "it is a trust or bust;" yet the very
fact that they put the situation in that
light relieves the public of much anxi-
ETY. that might otherwise be expert
enced. 1t is railroad trust that the
Chicago managers want, and their lam
entation about the Immediate danger of
ankruptcy may, after all, be SpeciouS
argument in support of their proposed
combination. Yesterdays Chicago Trib-
une devotes nearly two pages to in
terv Jews with prominent Western rail-
road men, all of whom talk freely and
intelligently on the subject of trusts,
and most of whom advocate some sort
of combination between Western rail-
roads as the only hope of rescue from
impending bankruptcy. Gen. II. H.
PORTER says: "If relief is not
had from present evils there must
soon come crash" President
MARVIN HUGHITT says: "Of all weak
and helpless things IN long clothes and
diaper, know of nothing so weak and
helpless as a railroad" General Man
ager JEFFREY, of the Illinois Central.
says: "There is no possible solution of
the present embarrassing difficult
ties of railroad companies, except
l1,o MoNT-ru,I +6o
Well-known railway receiver, says:
Something has got to be DONE"
Banker PEABODY. of Boston. rail-
road tinancier. is of opinion that "what
is needed is to infuse a little honesty
and manlineSs into the relations be-
tween the roads," Chairman BLANCH-
ARD, of the Traffic association, thinks
that pools ought to be legalized, because
thu y are public benefit. General Man
ager RIPLEY, of the Burlington, says:
1.-The patient is sick, and Doctor Trust
is the only physician at hand" Presi-
dent CARSON, of the Louisville, New
Albany & Chicago road, Is of opinion
trust necessary. General Manager ST.
JOHN, of the Rock Island, says sit must
be either pool or trust" Assistant
Manager CLoUGH opposes trust but
favOrS consolidation. President MIL
LEK, of the st. Paul, is the most hopeful
man in the lot. He doesn't believe in
coming out with skull and croSSboneS
views of the situation until matters are
worse than they are now.
Such, in brief, are the views of lead
ing Western railroad men, and while
there is probability that the danger to
Western railroad interests has been ex-
aggerated, there is equal reason to be-
lieve that the formation of a railroad
trust is seriously contemplated. Wemay
go further, and say that it is actually
determined upon, and the only reason
for delay in its final consummation is
the hope OF yet being able to work in
the few roads that still persist in hold
ing out against it. AS has already been
stated in these columns, the GLOBE does
not believe that railroad trust will be
such an evil as most persons are in
Clined to think it. We are opposed to
trusts and all combines on principle.
We believe that they are in antagonism
to the spirit Of our American govern
ment, and ought to be suppressed. But
as long as they are being tolerated in
other industrial departments, we
see no reason why the railroads
should be deprived of whatever adj
vantage may be derived from a
combination. The very fact that the
interstate commerce law treats the
railroads of the whole country as if
they were one corporation is of itself
an argument in favor of railroad
trust. The supreme court of the United
States has asserted the authority of the
general government to control railway
transportation, and this could be as
easily. or even more readily done, if
they were all under one management.
So far as the interests of the people are
concerned, no harm could be done by
the establishment of railroad trust,
except the bad precedent of concentra-
ting so much power and wealth in the
hands of few persons. And as for the
railroads, there would surely be great
saving effected and great economies in
their operation by bringing all the vari-
Gus lines under the control of one
management.