Omaha daily bee., 1889-10-16
MOVING 7OVAPD A TRUST.

MOVING 10WARD 4 TRUST.
There are some very strong indica-
tions that steady progress is being made
toward the establishment of gigantic
railroad trust monopoly that will en-
brace all the great lines in the country.
For several years a project of this kind
is known to have been in favor
with Jay Gould, and there are
now many other prominent rail-
road men who favor it as promis-
ing the only solution of the
difficulties which keep the rail-
roads in a continual state OF
turmoil. The Chicago Tribune says:
''If the craft of veteran mauipulators of
corporations, aided and reinforced by
the ablest legal talent, can achieve the
result, the principle of trustism will be
applied TO the railroad system of the
country, and n tremendous banded mo-
nopoly will be the outcome. A mighty
effort is being made to attain that end"
The indications that this is. the ease
are found in the proposed abandon
ment of the various auxiliary railway
uoouIlullOhS anu blo SlICHS
Of the power of the central body. If
this shall be accomplished, the next
step would be to get a majority of the
stock of competing roads into the hands
oftrustees and then proceed to the sup
preston Of competition. The plan
would be TO concentrate absolute, ire
sponsible power in the hands of "a few
men, who would represent only twenty
five per cent of the total investment IN
the railroad property. Control of the
entire trust says the Tribune, "would
GO with majority of the stock of the
constituent companies, and own
ers of bonds and shares aggregatiug
seventy five per cent OF the total cap
italization would be left voiceless and
powerless. Taking the place of the
true owners in the management OF the
consolidated companies, the trust auto
Gratis would have Il more than imperial
| power of taxation over the people, and
could exact hundreds of millions an
| nually for revenues on bogus stock.
While the merchant, the farmer,
and the manufacturer could earn
| only such profits as the rail-
road trust would permit, multo million
alre stock kholders and trust maguates
| could gorge themselves with wealth
| and find market for their chromos."
The utter inadequacy of existing as
| sociations as means OF remedying
| railway difficulties has been most fully
| demonstrated. The ''gcntlemen's
agreement from which so much was
| expected, has proved to be a complete
| failure, and its dissolution has been
| urged by some Of the most proml
| nent of its members. One of these re-
| Gently characterized it us worse than
| useless. and said it would be better to
| abandon the association than keep it up
| in its present shape, a sentiment that
was quite generally approved by other
| members of the association. This MEM
| ber also urged that what is needed is an
association having the power and
strength to keep the roads from cutting
| each others throats, aud when the next
meeting OF the presidents is held, which
VIII be in January, the inter
| state commerce railway associa-
tion will undoubtedly be aban-
| doned and an effort made 10 form an as
sociation with the power and strength
to compel obedience to its regulations
in other words, u monster combination
that would make the railroad systems of
the country vast monopoly, with prac-
tlcally limitless powers of coercion, in
timidation and corruption. This
unquestionably is the purpose in
view, and it is an OBJ
ject so menaclng to the public interests
as to demand the most serious consider
alton from the public. If this scheme
of corporate tyranny should be consum-
mated, the question of government
ownership and operation of the rail-
roads, as the only certain way of escape,
would assume an Importance equal to
any that has ever engaged the atten-
tion of the American people.
.---------.-------
MIR. w. T.. CURTIS, who is in charge
| nf tho pan A N, a III nap 6nlauotac cor-