Sacramento daily record-union. [volume] (Sacramento [Calif.]) 1875-1891, 1889-10-23
THE CANADIAN PACIFIC.
Effect of Its Completion Upon Pacific
Coast Industries.

San Francisco Alta, October 2lst
The RdillOdy Age, reviewing the traffi OF
roads for the year, says: The Canadian
Pacific continues to show heavy gsins.
The gross earnings in August were s. 421,-
755, and for the eight months ending Aug
ust 31st they were So, 166, III. The gross
earnings for the corresponding period last
year are not given in the official statement,
but it is declared that the net profits for
August were 1862 3S4 gain Of $243 056
over August, 1888, and that the net profits
from January LIST to August 3Ist were So
243. .S54, a gain of 81, ,309627 over the same
period in 1883. 1t would be very interest
ing to know what portion of these large
gains came from the development Of local
traffic, and what from competition with
American lines for through traffic
If restricted to the field of Canadian local
and overland commerce, there is no doubt
that this road would show Il far lower vol
ume OF business Not long since we quoted
from its annual report 10 the effec. tnat its
losses on Canadian business, caused BY bad
crops in the Dominion, were more han
made good by lis successful seizure of the
through business OF the United States,
heretofore carried by the American roads.
The subject is of renewed interest now ny
reason of the progress of the official investi-
galion of the debts due TO the Government
by the Central and Union Pacific roads.
AS we have already shown, those debts
must be paid by the people whose products
and merchandise are carried by the roads.
The extension of time and reduction of in
terest which will be asked at maturity of
the debt, are for the people and not tor the
corporations. If the debt we're cancelled
by tie Government, it would reduce by
Just that much the snm which the shippers
must finally pay, in principal and interest,
to meet the cost OF constructing the rOacs.
The only assistance which can come 10 the
producers and shippers of Nebraska, Wy
oming, Utah, Nevada and California is the
revenue earned by the roads IN the over
land carriage Of international commerce.
Silk and tea and rice, Hawaii and Manila
sugar, Australian wool, Samoan copfa, all
helped the local shipper to swell the reve-
nues and pay the debt. So, also, did the
transportation of the manufactures ol the
East exchanged for these products of Asia
and the Pacific islands If the diversion
of this Carrying made reduce tie rovenues
of our own roads 10y 4 million & year, that
million must be laid upon the local traffic,
and this will be the case whether the roads
continue in corporate control or are taken
by the Government in foreclosure Of its
claim.
Heretofore this transfer of the overland
carrying trade 10 the Canadian road has
been discussed in the light Ot its effect
upon the commercial primacy of San Fran
cisco, an aspect in which it has the keenest
admocitory interest. Already the Chamber
of Commerce in this city has been COM
PEELED to acknowledge that the tea trade of
which San Francisco WAS the natural center
for the continent. has been transferred 20
Eastern points, and instead cf ;he whole
supply coming into our harbor for lisiTbu-
ton to the East fver our roads, ID ail goes
by the Canadian Pacific. and we ave simply
shipping back Sufficient for our local con-
sumption from ST Paul or Chicago, or
may be Montreal. The same viii soon be
true OF the coffee trade OF which we were
rapidiy securing the c0nirni. for as the
volume of tonnage dec iues the rate must
advance to meet the fixed charges OF trans
portation, and the first condition 81 dis
tribulive facilities which make a large
commercial center is destroyed This part
of the situation has been ably presented
heretofore by our merchants and their pro-
test has been uttered. Its connection With
the interests Of all our producers In re-
spect TO the payment of the Governments
claim. will be perfectly apparent, and
furnishes the most unanswersbls Of r.a-
sons for the alliance OF agriculture aud
commerce in the demand that our roads be
left free 70 compete with the Canadian Pa
cific, that they may rescue from il their
lost overland business aud also in the re-
quest that our Government give to the peo-
pie of this region the first extension asked
in their interest. Statesmanship is not thst
near sighted policy which regards tempo
rary expedients and passing conditions
but 1t looks beyond the present, TO other
centuries and interests that will be Of local
interest and national importance when
other generations have replaced the pres
ent.
It is this kind of ststssmanship that
gives to nations her length &C daes, aud
brought I, be8r upon these Wes.ern prob
lens it will strengthe tae security he.d by
The Government fos SIS loan to the Psciic
roads, oy increasing the arabic area of this
region through irrigation. TINS Offering the
only p-eminm upon its increase 10 ppBGls-
ton and produciion. ard thereby tie only
means Of decreasing the burden - tiay-
msnt by distributing it to more shoulders
and more acres