The Wichita daily eagle. [volume] (Wichita, Kan.) 1890-1906, 1892-12-18

benefit before the public good and para
lie action bv their own dead Inertia.
But lesser evils have been oyerthrown
ere now, even when occupying the
hrones of empires. though the thrones
aud empires themselves had to be over
thrown in its accomp llshment.
The government ownership of the vast
railroad system of the United States
is advocated by many as last
resort, however. for all perceive the
magnitude of the under taking and very
possible dangers in its exercise. For
myself, | think there is shorter and a
better way. The field of private and
corporate enterprise should be left open
alld the government should enter only
81 far as TO effecually regulate and CON
troll their methods. In passing, il may
be said that the government holds the
monopoly of issuing money and being
required by the constitution to regulate
the value thereof" and as this can only
be done by regulating its distribution,
he function of banking follows as a
necessary corrollary. The government
comes la among these corporations as a
regulator.
In the matter of transportation all that
is wanted is that these quasi private cor
porutions created by state and national
authority TO subserve great public need,
shall be compelled 10 recognize the i'm
portant fact that they are only exerciS-
ing trust, IN which the great public
have joint interest with them and
which the state may at any time assume
and itself perform If it become nece5-
saTy. The problem Is how best TO secure
the desired result-efficient and not too
expensive service at the hands of these
public agents.
The policy employed by the roads
themselves to uphold rates indicates
what our own policy should be. A con
trolling line that commands the traffic
whenever it is so disposed can fix the
rate for all. They must meet the rate
or it will take the business.
An independent line from Duluth on
Lake Superior through the great grain
belt of the west % Galveston on the
gulf, reaching deep water at both ends.
would solve the rate question for grain
and much besides to the seaboard and
all foreign ports. l believe it would he
wise public policy for the government
to build such line. If the present
prices of cattle and grain are to continue
something will have to be done to in
duce our people TO continue their pro
ductIon--and it is to be borne In mind
that by the enormous expectation of
these and cotton alone is the balance Of
trade maintained in our favor.
This would be the better way, for
there are not by more than fifty millions
as many greenbacks in circulation as the
country needs and the law permits.
But if not directly by the gov
eminent then let the work
be done Dy the states interested. Let
congress pass an enabling act empower
Ing the states traversed by the road to
issue its bonds bearing one per cent. in
terest for an amount requisite to build
its proportion, such bonds to be deposit
ed in the national treasury and in lieu
thereof treasury notes to like amount
or bills substantially Of the character of
national bank notes to be delivered.
This would involve for construction
and equipment an addition to the cir
of from $50, 900, 900 to So, 000,-
O00-an increase of some 80 cents per
capita-and would distribute it at ex-
actly the point where most needed. THIS
too would be fair offset to the west for
the naval expenditures going on at the
For the government to do this and as
they ma ture foreclose its claims upon the
Union and Central Pacific systems would
go far towards solving the railroad prob
lem SO far at least as the people of the cen
trail west are Immediately concerned. Is
there any sound objection to be urged
against this plan?
As matter of course every railroad
in the United States and every holder of
American railroad securities in the
world would oppose the scheme and say
many uncomphmentary things of it, but
that would only prove its durability. |
must be done 10 squeeze the |
water out of their stocks and eliminate
the air out of their bonds, and | do not |
think of anything better or more
effectual to induce them to themselves |
perform this necessary feat of financial
surgery.
The government is operating lines of |
railroad continually and successfully |
through receivers appointed by its
courts, and rates would be a matter of |
EASY adjustment, as our chief object OF /
he road would be to regulate rates and |
prevent unreasonable charges and I'M
Just Determinations.
Such line would at once obliterate |
he Missouri river as a common or pool
ng point. 1t would traverse the region
which creates the great overflow of
.ailroad business and must inevitably |
become the basing point for eastern and
western traffic rates. There may be
atal objections to this scheme, but If so
have failed to discover them.
OF course the adoption of this scheme
must be matter of time and much
.ffort, but to seriously move for its con-
truction would operate as the most
Efficient aid to railroad commissions in
he diplomacy of rates that could be
employed.
In the meantime their hands must |
,e upheld by laws which clothe them
With something more than advisory
powers. Respectfully submitted,