The midland journal. (Rising Sun, Md.) 1885-1947, 1891-06-19
Friday, June 10, 1891.
The Railroad Problem.

The Railroad Problem.
We publish an interesting review of Mr..
Stickney's book on this momentous ques-
ton on our fourth page this week, which
deserves careful reading by all classes Of
people. The railroad touches the interest
and business Of the highest and lowest and
has become one OF the indispensable inven-
tions OF modern times. The railroad has
virtually superseded all other classes of
roads and modes of travel and the question
is facing the public; shall that public be
under the control and subjected to the inn
position of corporations, or shall the people
in their sovereign capacity take possession
of the power which they transferred to pri'
yate bonds, and which has been made an
engine of control over travel and transport
tation, with the right to tax and toll at the
pleasure Of managers Of the railroads who
are in most csses self appointed, and have
become the virtual rulers of the business Of
large communities?
Some politicians have made bugbear of
the great cost to the government it would be
to purchase the railroads. The cost would
be no great matter and the roads would pay
il all, and be made great saving to the
people oyer the cost 10 them while they re-
main in private hands. II is not to be sup
posed that the government would pay the
Goulds and Vanderbilts what they claim,
watered stock and all. When railroad
company proposes 10 take part of mans
farm for their road they appoint jury to
award damages and the owner has to take
what the Jury determines he shall receive.
In the same manner the government could
assign its engineers and juries TO take an
account Of railroad property and that being
ascertained issue stock to the stockholders,
pro rata on the stock which they hold,
drawing 2 per cent interest. The rights of
the public is first to be considered in right
ing the great wrong which has grown up
through private railroad management. The
railroads under government control would
in few years pay the bonded debt and
afford a large revenue for public expenses,
If deemed advisable, and still make great
saving TO the people over present cost for
travel and transportation.
In Hungary and one Of the Australian
provinces, railroads are the property OF the
government and the cost of travel is about
half cent mile and of transportation Of
goods in proportion. Similar rates could
be enjoyed in this country with the rail-
roads under government control.
This is one of the problems the farmers
and other producing and laboring classes
propose to settle in the course Of the revo-
luton that is being prosecuted against ex-
pensive and corrupt politics. They are
paying millions TO private corporations and
Office holders which ought to remain in the
hands which produce this wealth. We have
named two per cent as the rate of interest
on the government issue of railroad bonds,
and it is enough. The hour has struck
when the war on usury shall crush that
robbery that has beggared the world. The
reason is very plain why the rate of interest
should be reduced to Two per cent. Agri-
cultural industry, which is the ground work
of all other industries, pays less, on an
average than three per cent on investment,
and the rate on money should be less than
money combined with labor will produce.
Government alone has the power to estab-
lish this just rate by becoming the loaner OF
money and by taking possession of the rail-
roads and all other natural monopolies, and
placing the rate of interest on the funded
debt at two per cent would go far in pro-
Noting and popularizing the change. A
thorough knowledge of the economic ques-
tions which are agita,ing the country would
be made to put vastly more dollars in the
pockets Of farmers than their constant dig
ging and delving are doing. They have
digged to make money. The non.producers
have studied, used their brains 10 accomplish
this object. Which have been the most
successful? While the on-producers in
single line of business, that of banking,
have accumulated FIVE billions of profit, in
the same period the farmers who have relied
on hard work with little .or no thought,
have been swamped under debt of five
billions, and the holders of nine millions Of
mortgages are evicting farmers from their
homes all over the country. These thinking
s'business men" have done their robbery
largely through the medium of railroads.
Next week we will commence the
publication of a history of the sew
eral farmer organizations which are