The Waco evening news. [volume] (Waco, Tex.) 1891-1894, 1892-04-21

was worth $4,000 and in few
years it was worth $200,000,000.
For the purpose of more fully |
portraying to the people the danger of
the power of the railroads and to show
the necessity of destroying this
colossal power, l will refer to the
message of Gov. Hogg, This is an
official document and no one can
question the correctness of the matter
contained in it. He states that the
Texas roads contain more than
100000, 900 of watered stock, and that
they are adding 40,OoO,O0O of
fictitious stock annually for the peo-
pie to pay dividends on in every
commercial transaction they make.
He estimates this to be more than one
half of all the taxable property of the
state including the value of the roads,
and $33 100000 more than all the
land values of the entire state. 1t is
further seen that Texas has given to
her railroads in lands and other values
more than 40,000,000 acres of land,
and large amount of this land they
still hold through fraud in
transferring it from one person
to another so as to avoid
alternating it until in many instances
it has become very valuable The
whole amount of it has probably
yielded them more than IS per acre.
In the light of the above statements
no one can deny that the Texas roads
have received donations which we're
more than sufficient to build and
equip them. 1t might be said the
roads are the gifts of the people to the
corporations.
1t is we'll known fact that they
pool their interest with other corpora
tions and elect whom they please to
fill the various Offices from president
down to bailiff, and dictate every line
of law, both national and state, in
their own interest
A glance at the above statement OF
well-known facts will show that these
corporations are more powerful than
the government and the only way to
save the government from being over
thrown by these corporations is fol-
the government to own and operate
the roads in the interest of the whole
people.
, The trainers of the st. Louis plat
r form demands would rob no one, no.
, would they confscate one dollar O.
! private or public property. Neithe
would they interfere with the right
of any citizen or class of citizens, bu
: they would protect the people from
corporations that have usurped power
8 not delegated to them either by tn,
f state or the constitution of the Unitet
States. By purchasing all the road
J in the United States, not as privat,
G property, but as public property
E recognizing that the various compa
f MES only hold chartered rights in saic
f roads.
BY reference to the testimony takel
o by the committee of ways and mean
in congress during the investigation o
e the interstate commerce bill. The &C
tual cost of all the roads is not NOR
than 50, 500, 100000 after eliminating
d the watered stock from them. 40
!, cording to the same testimony tn
q people are paying more than 5000,
n 100000 annually in the shape O
freights to pay dividends on this fc
t titious stock, besides paying a just rat
c on the $4,000, 5000 of real cost.
e Now there is more than one plan b
Q which the government can purchas
n aud pay for the roads. One is to issu
e $2,500,0OO,000 of full legal tender
o and pay the roads spot cash for tn
f property. This would be $S50,0O0
& 600 less than $50 per capita, whic
t amount every one is now contendin
d for as a necessary per capita circula
If ton. So every one will see that it wi
n not get out the required volume c
r money. The present freight rates
e continued tour years woul
" bring back to the govern
i, mcnt the So. 500, 100000 paid for tn
a roads therefore the government migt
d reduce the present freight rates three
,. fourths and continue it for sixtee
It years and this would bring back tn
d 2, 5OO,O0O,000 the result would
n that the government would own tn
e roads and at the end of sixteen veal