New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1890-06-23
A NATIONAL RAILROAD SYSTEM.
MODELLED AFTER THE NATIONAL BANK sY>ltN'
O Il @ ELL Of I d e T r / bnne.


The unsettled not say dangerous, condition oil Ie
country in reference to all transportation interests ''r
tainy demands attention, and II possible remedy w
the one hand. the people are trying in various way !"
organize against large and Ovcrpowcring corporations
and arc clamoring for laws to restrict their operations
and Ia prevent mOnOpocS, and on the other 'or-
porations tending to consolidate more and more -
prevent competition, and Ia become 80 powerful a. 70
oppose successfully all restrictive legislation some
9pg has evidently been gained In the direc'ioh VI
unifync and harmonizng these conflicting interests by
the Interstate Commerce law and Board OF 'ohI"'N-
sonegS, recently enacted and instituted by The ceai
Government But all viii agree that only sla part
Of the desired ends have been reached by these means
The question fairly arises. what more may he done
\ few principle, are plain. one Is rhat the ION
StitutiOn imposes upon Congress the duty OF passing
laws to regulate commerce between the Statc' m
ether i that the people moro extensively ana vty
concerned In the system of -portati0n than ~ al
most any other interest which Congress is called upon
to regulate This ha, place in the Constitution even
before the money or currency interest for the
regulation Of which in part our National banking
system has been constructed. We have nominaiN III
vested in the stock and bonds Of our railroads over
200 600 900 Of capital and but small per cent OF
this amount is represented In the currency oil the
country. including both specie and bank note
In regulating currency we did not ADOPT II
monstrous National bank-as is done in England as
well as in some other c0untricsand thereby require
the Government 20 assume all tho responsibility OF
it, minute operations, and In regulating our railway
system IL would very much out OF harmony Win
orr republican institutions to adopt tho monaFchcal
system Of Germany and require the Government 10
undertake the operation Of all railroads YET u N'ha
plain that snoh enormous Interests ought not To bee
left AT loose ends 10 I've the PREY OF schemins and
designing capitalists.
Twenty wears ago the confusion in time standards
engaged cur attention. Til, confusion Wa reduced
70 order 10y applying 10 II the principles OF ohr'uue'
and thus constituting longitude standards. Eat the
evil, experienced and threatened ~ the conflict 81
time standards much le,> vital III the iHHuh
mental workings OF society than arr the evils cNp'F
enccd aud threatened by the conflicts now under con
,idoratIon Therefore, It Is plain that the conception
Of come y stem to unity and harmonic these conflict
iug interest, is the need of the hoir. Ut We" "i
these fact- hope II will not appear pIc'"mp'"""'
t,r me- to present few basal principle, for u"
foundation, # >dch system. These VIII at
once he recognized "a, corresponding VII" NV
,,saI princlpe- of our National banking system
l. Let all transportation o"mpanie~ he '""''''''
h, tho general government. ", may say I'D passing
HAT this same prime pie might hc applied I" N'e''''P
con,panic, and to telegraph companies hu' our ''
ntion l. here &c ln.trly confined T. railroad conIaho'
Yl,c charter, might correspond ia general way WIN
the Government charter OF our national b'nN'' ANU
the present state railroad companies might he treated
To-, = lac the prvilcg, II every National railroad
,,,.nv +, deposit inquest enable sccurt in wash
iu.ton for it, bonds. up to gwen amount i"l''
according TO some percentage u H. capital '"". -"
these -ccurtc o.. let the Government issue b4Ah lV'
Il railroad bond for The comruJc- 10 III OUT al"
eu av for 500 per cent 81 the securities. The 'om
NAMES could undoubtedly sell th,,' bonds at very
Low rat. Of interest. backed a. They would D" h'
.o.uritic, In washington. And i D., plain tII'i The
,oupauics' ,ccuritc, in Washington would nearly II h"
,uito pa, the Interest their o"u bonds tH- 'N'' "
and sold The Interest account If me '"mp'h'''
NOW amount, 10 -1mcwhat over r-uOoV''"" ''Ai'
and the income from passenger, AID ir'sh together
amounts f. somewhat over t-oon"p"" year D.
hence reduction OF -ay 20 or 80 per cent might ice
mad. -, All passenger and frr Sht rate. ana set
osve the companic, A, well OIL They now are with
present rate.
3 For the remaining say 10 per cent ~ the
ecnri,les in Washington. let the Government --h'
y.tem Of National tickets for passenger ana ir'lrh'
onc form Of which might correspond with t"
passenger mileage book nO~ ln common
use with all companies This "ond be
God for passenger ali national roads.
Far freight there might De tickets % denomination
Of dollar, and FRACTIONAL part, Of dollar '"ir' p"n'
ING with the denomination. 81 bank bills ara '' "IN
fractional currency. II b, pL"" That '"i"I"''' ~
ten Of coupon tickets with stub and al ,,'in CO."
vcucncc-. could easily b" coueirH' t''' - 80,
cruuent ticket, must Ice with blanks i"i ' '"l''f
in stamp IT, own name etc. up'i.' l''h IT, ' 'e
anu anu Wv .,nc r,9u.,' ,rccI Afcr thee National
,t,lrt' hay, been u.cd and dul4 laml"d' irl M"u'
Ia. retcemablc iu money or new tcN'i '' amy .,.''
Tjlr,nd government ticket on'e. "'i'h Would n,''
IT, bo located conveniently j.. ever '"""P''.'
stem would require AL freight - ven "- P@' n-
,.r ., t, pfcf,tld \ single simple a." 81 li''th
,riu illustrate The WORKING, oi The a. i'"''
supp |,r, a. Chic,co over tA" View iorh ''u
traI and the Lab" shore road ana MAJ , ~, H., .
ri,rh l.,nps tn the Nc. lOlh Central, ana !''N Nv
IA Inc Lake shore The shipper ""rid pay 'F ~ ~,
Tort Central 500 ald receive r"c"'pc. DILL N'.
- s,un attached Upon rl5 worth 81 th"-r N"'i'i'
%.Ln, ,Hc yev orl Central would stamp Their own
trh'N ~, to,b 4. thc issuing and a. IA" r"c"flns
l" n,,.,y mon bv stepping u'" "a" "o''rih"l
once They might receive 81 thc5 i"u, n ''r l u'i''
rith lie Scg oq Central stamped on mrin a, 49,"
responsible issuing COMPANY %oa'" d., 11,cn ,ficr
dnir STAINING these th- company might receive ';"
the Government Office 800 for ti"r p'll ~ Wv ,,t,
iu ~ which would be done with the 'ihp''' "''"''
possible Gain in connection With harmonlinc the fore
ga n ,t Interests. II would seem that much mith
t't ~, h, ,,y 81 settling the conflict between E"
ard capital well devised plan wi' ,, ,,h'.t %
attended n department a. onr iaIInin ~ ' ,hr, a..
braces, could hardly fail OF being OF 'crvlI flo
u,rtmcuts therefore venture to 'ugtc'' INC i"'''"
hS a. ~ ,,' rof bc made ont for the year, wage
~ ali the permanent cmplOvc~ oi the 'oHP''N. ~ ::
,fcr all wage and current cNWhS's ar ~, t ro,,
per paid on The padin cfpl'A ,h gir" lime
phhE wiz, =. "a 49, .t,r,lus Tor tho distributing Of
~. .urplue the pay roll might BE- added 10 ' pau ~
cantaI Iiock and the paS roll receive lr -
ccnt 81 The surplus it would II Il were $" much hou'
,,,itai took For example If a c"inimhN .i''al
ticL ,vere AIOO 600 aud the paN roll ainnhhtu I"
80" c,n thcn the surulu. would be distributed pro RAJ
runu tho sum Of the two-ihat +, upon FlIooop. IN
rdse the dividend should rise above 'gmr EN'n p ~,
cent II might Dc couurd A. good ground 10, .l az
agcs and on the other hand. IN ca" tic hlNlu'l
fine stock should fall below some gwen pr 1911, 'lt' IT,
might be counted as good grounds i%r ri mnvm ii
. - ,t'o
saratoga Springs. y. Y. June H. lt"o'