The progressive farmer. [volume] (Winston, N.C.) 1886-1904, 1890-10-28

EL4O pOOpAo udN0 U00u OSu6uGSO. u0
market value of the stocks of our most
important railroads has been steadily
increased.
This is shown oy the following
comparative statement of the prices
at which the stocks of the Central
railroad and of the Georgia railroad
and Banking company, the two most
extensive railroad systems in this
State in 1879, were selling in 1879
and are selling now:
Selling at in 1879. Selling at in 1890
Georgia r. r. stock Observation-Disclosures 201
Central r. R. stock Observation-Disclosures .121
Not only have the charges of rail-
roads been reduced, and the value of
their properties enhanced; but there
has been an immense increase in their
mileage since 1879. The records of
this Office show that for the FIVE years
previous to the establishment of the
commission in 1879, there were built
in this State less than one hundred
miles of railroad, showing an annual
average of about twenty miles, and
since 1879 to the present time there
have been built in Georgia two thou
sand miles of railroad, making an
average Of two hundred miles per
annum.
The sentiment of the people of Geor-
gia toward railroad commission can
be determined by the following facts:
All candidates for the Off of Gov
ernor in the past eight y SIS, the
members of the present ! islature,
without known exception; the pres
ent candidates for Governor; the can
didates for Congress and for the legis
lature at this time, who have been
announced, have been and are in favor
of a railroal commission. In addition,
may state that the press of the State
and the Farmers Alliance favor a
railroad commission, and that many
organizations of the alliance favor an
increase of the powers of the existing
| commission.
The establishment Of a railroad
commission, with the proper powers to
make joint rates for all connecting
roads in your State would certainly
result, in my judgment, in the build
ing of many roads from trunk lines
into sections that otherwise will never
have the benefit of railroad This
would follow because the railroad
commission, by the making and en-,
forcing of a joint rate over the two
roads (the new and the trunk line) to
the commercial centres of your State
would be a guarantee against the ex-
ercise of unfriendly hindraBces, and
| the establishment of such arbitrary
rates by the trunk lines as TO head off
and crush out the new road and
thereby making its construction i'm
practicable.
With such a joint rate, however,
the new road would be able to reach
your commercial cities with their ship
ments over the trunk line upon such
! just and reasonable terms rs to insure
! their construction and make them
! paying roads. In the absence of such
a regulation the new roads would be
forced to build long and expensive
through lines to reach the commercial
thoroughfAres, at a cost so great, in
many instances, as to entirely defeat
their construction. Without such
power vested somewhere to overcome
the arbitrary rule Of trunk lines, they
may entirely prevent, by the means
above alluded to, the building of roads
in large sections of your country, and
absolutely lock them up against al
railroad facilities except as furnished
by themselves upon their own terms
With such a regulation, however and
the enforcement of such a rate al
sections of your State that are able tC
build a short road and connect it with
any other road can do so with the
assurance given by the authority
lodged in a commission of being justly
and fairly dealt with, which would, as
| have said, insure the building Of
railroads into sections that are now
without them.
One other reason, and probably the
strongest one that can be given show
ing the necessity Of a railroad com
mission, grows out Of the fact that the
stocks of railroads are now held largely
for speculation, and not as an invest
ment. If they were held as an invest
ment it would be to the interest o1
those holding them to give to the
country such service at such rates
as would add to the wealth and popu
lation of the country, which would, IN
return, remunerate the roads by the
increase of travel and larger 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 nc
interest in the future of the railroads
or ia the future of the country which
they traverse or in the people of the
country. Their interest is in the
TeSOTtS and in the neGt dGVSdends. AS