The record-union., 1891-09-05

S0pdldIe oISdulHdIlOlS, agencies ana
offices. On the side of the people it means
an end Of the complaint against greater
! charge for short than long haul, be-
cause there viii be then no rebates or
! commissions. which cost the roads so
! enormously.
Mr.. Huntington would have all trans
portation business of the country done by
one company. To the many this will ap-
pear as startling proposition, one quite
impossible. But it is neither monstrous
nor out Of the range of possibility, and
Mr.. Huntington maintains this position
with vigor. The results of such consoli-
dation would be reduction of the cost of
transportation to the minimum; no
greater charge fora short than long haul.
except where water competition exists.
Raising railroad rates at non-competing
! points is the natural outcome of scattered
railroad interests, but under joint owner
ship the economy conserved in rolling
! stock and its use would be a potential
factor in reducing rates and the amount
of capital invested for reward.
Railway consolidation would furnish
an avenue for investment in sound secur-
tiles by the multitude Their resource
now is United States bonds, but these
must presently cease to offer; then the
inventor will be driven to seek security
among multitude of distinct railway
lines, subject to serious fluctuations due
to unwholesome competition, bad man.
agement, or uncomfortable greed. If,
however, all the railroads were united
their shares would be absolutely safe in
vestment.
Another strong point made by the
railroad magnate who proposes consoli-
dation is that under it the product of the
farm could be moved for the least possi-
bic sum; this cannot be done by roads
limited in extent, because they cannot
practice the economics of wealth. With
one or at most two or three great carry
ing managements with unlimited re-
sources and facilities, millions could be
saved to shippers and travellers. Such
consolidated management would not be
dangerous to the rights of the people; the
people do and would control; their courts
would protect them in all their rights.
Mr.. Huntington might we'll have added
that really there will be less of danger of
political usurpation by one or two such
| corporations than now by the hundreds,
each seeking selfish and particular ad-
vantage, and each the prey of dema-
gogues and legislative blackmailers.
Legislation under the consolidation
system would more certainly control
justly, equitably, than is possible where
hundreds of contending corporations are
subject to the operation of the laws.
1t would be profitable to follow Mr..
Huntington in detail in his argument, as
certainly it would be interesting, but
this may not be; the essay must be read
in full to entirely comprehend the plea
made and the vigorous reasoning adj
vanced in support of it. Certainly that
such proposition can now be calmly
discussed, as has this, by all the leading
journals of the day since Mr.. Hunting
ton has projected it into the forum of
public debate; that it does not excite un-
reasoning hostility or kindle biased op-
position and awaken the fears of the
| timorous, is proof that in most part the
spirit that once looked upon railroad en-
! terprise as the enemy OF the community
has ceased to be manifest, and that
business and economic reason are taking
its place.