The Caucasian. (Clinton, N.C.) 188?-1913, 1890-07-24
your country, and absolutely
lock them up against all rail
road facilities exreut as furnish.

lock them up against all rail
road facilities except as furnish,
ed by themselves upon their
own terms. With such : regu-
lation, however, and the en-
forcement of such rate all
sections of your state are able
10 build a short road and CON
meet it with any other road and
can DO SO with the assurance
given by the authority lodged
in a commission of being Justly
and fairly dealt with which
would, as | haye said, insure
the building of railroads into
sections that are now without
them. One other reason, and
probably the strongest one that
eau be given showing the neces-
sitY of railroad commission,
grows out of the fact that the
stocks of railroads are now held
largely for speculation, and not
as an investment. If they were
held as an investment it would
be to the interest vf those hold
i"g them to give to the country
such a service at such rates as
would add to the wealth and
population of the country,
which would, in return, remune-
rate the roads by the incre ise
Of travel and large tonnage, as
the natural results of increased
population and wealth.
But when the stock of the
roads are held as they now are,
for speculative purposes alone,
the holders have no interest in
the future Of the railroads, or
in the people of the country
which they traverse. Their in
terest is in the reports and in
the next dividends. As these
are to govern and regulate the
prices in which they look for
advantageous sales and large
profits, this state of affairs
causes an irresistible demand
by the holders of the stocks
upon the officers who are man
aging the roads for favorable
reports and large dividends,
which can only be given by
eXacting such high rates of the
patrons Of the roads, and the
country through which they
pass, as to strip every industry
and every interest that the road
may touch of all profits, with
most disastrous results to the
country and to The people.
A railroad commission, cloth
ed with proper authority, could
prevent all this by the establish
ment of rates that would be
just to the country and to the
roads by disregarding these de-
mands made by spectators in
stocks, and prescribing and fix
ing rate for the roads by which
the country would be developed,
enriched and made populous.
The stimulus that such a favora-
BILE rate would give to all pur-
suits and all Industries would
in return pay the roads, by
reason of increa sed travel and
a large tonnage, more than they
now make by the high rates
upon their light travel and
small tonnage.
In conclusion, permit me to
state that | do not wish to be
misunderstood as attributing all
the prosperity of Georgia, and
especially of her railroad in
terests, to the fact that she has
a railroad commission.
Georgia feels the impulse
towards progress aud develop
ment which stirs all her sister
states, and is reaping some of
the benefits Of the general pros
perity Of the times. But | do
honestly believe that the rail
road commission has been a
great factor in her prosperity.
and shall be glad to know that
the great state Of Texas has
organized a commission with
the proper powers, and haa
placed the administration of
those powers in proper hands.
L. n. TRAMMELL,
Chairman of the Railroad
Commission of the State of
GaOrpia