Rock Island daily Argus. (Rock Island, Ill.) 1886-1893, 1890-12-30
THE F.M.B.A A. CONVENTION.

The Chicago Hersid has Something 20
coy About their Resosutiens.
!. The resolutions adopted by the confer.
s~se OF farmers at the court house In
Roch Island last Wednesday have attract
ID the erteniion OF the Chicago Herald.
and that paper on Saturday made the
following editorial allusion to the chanses
frde coinage and cheaper pas
senger fares:
FARMEHs>AsD FREE COINAGE.
At the convention Of farmers organize.
tons of the Twenty first Illinois senato-
rial district, held last Wednesday. reso-
luton was adopted demanding the free
and unlimited coinage Of American.pros
duced silver.
What good would that do the farmerss
What ID 1t they wsnt7 Is 1t larger vol-
ohe OF currency2 We are now in effect
cdlning all the product of - American
mes under the act OF July ID. 1890.
very ounce OF American produced silver
h converted into currency by issuing
notes to the amount OF its full market
value. Three times every week the sec
rotary OF the treasury adds TO the volume
by issuing notes in exchange for silver
The law requires him 10 do this. The
entire estimated product of our mines
must be turned into currency in this way
every year. Therefore, il il Is increase
of currency the farmers want, they now
have a sure thing of IL.
Under The policy they propose they
would not have a sure thing of it, for
only so much OF our silver product as the
owners might choose to take to the mints
would be coined or otherwise turned into
currency. Under the existing law the
secretary must purchase 81, 000, 900 oun.
ces OF silver every year and convert il
into currency. If he can get IL at price
ss low as S1.2e29 per ounce. and there is
every prospect that he will be able to do
this for long time to come. II Ameri-
can mines fail to produce $4,000. 900
ounces in year. the deficit must be made
up by purchases of foreign silver. Under
the farmers policy, II our product should
drop 10 20,0000O0 ounces year only
that much would be added to the cur
rencv. Therefore. IL it is more circula-
ton that the farmers want. they have q
surer thing OF II under tue law as IL Is.
II II Is not more circulation that the
farmers want. what do they want? No
one has thus far undertaken to say. That
being the case, it is to be presumed that
this Is precisely what they want. or sup
pose they want.
Who gets this increase of currency
The man who has silver bullion TO sell.
Have the farmers silver bullion to sell?
Certainly not; not an ounce. How, then,
do they expect to gain anything by maxi
ing market at the treasury for our mine
owners. and by giving American mine
owners monopoly on that markel2 Pro-
badly not one OF them can tell. 1t would
be good plan for them to consider this
question. and qualify themselves to ex-
plain how free coinage of American-pro-
duced silver would help them. 1t is q
thing that requires explanation. tits not
seif-evident. Congress ought not to be
expected to pass laws for the benefit OF
farmers or anybody else until some pro
liability Is shown that the laws will pro.
duce the benefits desired.
CHEAP PASSENGER FARES.
The farmers who convened at Rock lei.
and last Wednesday favor reduction of
passenger rates of railroads to cents per
mile.
Probably this rate wsuld afford fair
for the service on most
roads In the state If the practice of dead.
heading were brought within reasonable
bounds. There Is no sound reason for
taxing the great travelling public to pay
the fares Of deadheads. That practice II
is true, Is IN perfect harmony with the
import tariff policy for which the country
10 indebted TO the republican party, bat
y say this Is not to offer an argument in
ia, defense.
While the uniform rate of cents per
mile would probably pay on most Illinois
roads II desdheading and scalping were
and II the expenses of passen-
ger agencies were brought within bounds,
yet on some roads 1t might be insufficient.
This suggests scaling of rates according
10 the earning capacity OF different roads.
The suggestion is not new. Michigan
has law, enacted by the last legislature,
passenger rates to gross
earnings. The Law provides that roads
earning less than Sc 900 per mile. gross,
annually. may charge cents per mile;
those earning more than 80 900 and less
than $4,000 per mile. not more than %
cents per mile; those earning over So 900
not more than cents per mile.
The supreme court OF Michigan has lust
decided that the law is constitutional
and must be enforced. All the roads in
The state disregarded 1t. and the Chicago
and Grand Trunk. which was one OF the
roads required to make 2-cent rate, car.
ried test case to the supreme court with
The result stated, the court being unani-
nous in the opionion that the law Is
valid.
A similar law In Illinois would accom-
plish the object the farmers have In view
without injustice to the weaker roads.
The plan Is in manner self adjusting.
The weaker roads would have TO reduce
their rates as their business improved,
and to reduce them to the minimum as
soon as their gross earnings should reach |
the prescribed sum, say 80. 600 per mile.
~ Is not unlikely that experience would |
suggest a modification of the law. Ex- |
perience under the zone system in Aus
shows that there q great |
reduction Of rates results in an increase |
not only OF gross but net earnings. A
IKE reduction here may produce like af- |
Iect. In that case the strongest roads 1
nay voluntarily reduce their rates below
ne legal maximum, and the weaker ones
nay md IL to their advantage to do the
'ame. III they do not. the legislature may |
make further tentative reductions In the |
naxamium rates until the limit of reduc-
ion compatible with just compensation
8 found.
The right OF the state to limit the
'narges made by quai-public corporations,
nblect TO the rnle of just compensation, |
las been fully established. and the people
VII undoubtedly insist that the right
ball be exercised in the matter of pas
enger fares. The Illinois legislature
nay as well take the business in hand at
nee and carefully frame q law which
naii be just alike to corporations and the
'ublic,
WITH the 355 members of the house of
representatives provided for by the Frsuk
'pportionment bill that body will be one