The progressive farmer. [volume] (Winston, N.C.) 1886-1904, 1892-01-12

LUZ ~ III GuCOO, GIAC CLACtDCSG C14Nl
speediest means of inter-cOmmunica-
ton, by the government, is beyond
question. It can be ascertained by
conversation in any gathering where
the subject is discussed. The Farmers
Alliance has adopted the measure as
one Of it's demands" The boards of
trade of New York, Philadelphia, Pitts
| burg, Baltimore. Cincinnati, San Fran
cisco, Chicago, Detroit, Milwaukee, St
Paul and numerous other cities have
petitiOned for it. The vast majority of
the press, wherever they have taken
sides, have favored it. A measure so
feasible, 50 needed, so much desired by
the public and demanded by the wants
Of the age, has a powerful opponent,
though indeed we say but one, for the
Western Union Telegraph Company,
after having crushed out or bought of
all it's opponents except the Postal
Telegraph Company, ~(sO-called) has
arranged with it by which rates are
to be maintained. 1t may be well,
therefore, to examine into some Of the
reasons which impel tn. t gigantic cor
poration to put forth efforts so power
| ful that up to the present time it has
! throttled tho popular will and defied
| the progressive spirit of the times. The
| capital stock OF that company lii 1853
was 1858, 70O. 1t declared stock divi
! dendS between 1858 and 1883 eight
| years. of $17, $40, 146, and added only
| 81, 937. 950 for new lines, making it's
| capital 1st July, 1856, $2O, 133, see, nine
tenths of which was water. One year
from that date it cOOly doubled its
capital by making it $40, SOS, SOC. The
largest dividend up to 1874 in any one
! year was 414 per cent. For a period of
| seven years it's dividends averaged 100
per cent. a year on it's average capital.
| At one time 1t distributed SO, 600. 600
| OF stock to its shareholders. Its capital
| stock now, by virtue of successive
waterings, is nearly $1eS, Gee, 600 and
on that sum it pays dividends that
| make it one Of the best paying invest
ments in the country. Every invest
ment Of 81, zee, in 1858. in the Western
Unioa Telegraph stock, will have re
| ceived up to last September, $50. co.. In
stock dividends and cash dividends Of
800, eve, or an average of 800 per cent.
dividends per year. 1t has realized
/ $1eO, zoe, eO0 Of net profits in IS ) ears
by its high charges These figures are
unC~0ntrOverted statements, made to
the committee Of the last Congress be-
fore whom that company was repre-
sented by it's president, it's able array
Of counsel and numerous lobbyists, and
when II was opposing a measure III
favor of q limited adoption Of the tele-
! graph by the p~ostof1ce.
After this showing can there be at
tached any weight to the arguments Of
its newspapers and attorneys or any
doubt Of the need by the public of q
! governmental telegraph If at the
| present figh rates there has been 80
great and enormous profit can there be
any doubt that here. as in England, a
vastly incr, ased business and q still
larger profit would follow the taking
over Of the telegraph by the pOstofice,
with concurrent establishment of
reasonable ratGsl
The President of the Western Union,
DR.. Norvin Green, stated that in 1863
the average profit to the company vas
Al cents on each message. He claims
that the average profit on each message
now is only n cents and he shows that
the number of messages in the last 20
years has increased nearly nine-fOld-
from 6,4C0. 0OO in 1863 to -, 100, 900 in
1889. If this be true as to the profit,
yet it shows that a large reduction in
governmental hands IS still possible
and a vast increase in the number of
messages would De an immediate con
sequence.
AS has been well said of all the
~mOnOpOlies the telegraph system of
this country, substantially owned and
controlled by one man, IS the worst
and most dangerous of them all. It is
no longer safe or ~expedient to entrust
into the hands of one OverpOwering
this country. It is a power hat not
only a be used but has been per
verted for purposes hostile to the best
interests of the people; the markets of
the country, its finances and it's com
merCial inter 2StG 20 so large an extent
depend upon the honest and honorable
administration of the company that
the people are not in a mood to repose
a trust of this kind any longer without
competition in the hands Of a stock
jObbing corporation"
The proposition for the government
ownership Of the telegraph and tele,
phone Will come up with renewed en-
phasis before the next Congress. Like
BanquO's ghost, it is a question which
will not down" 1t is just and right
that the public demand should be
granted and such demands, like free
dom's battle, once begun, though
baffled oft" we know, ARE ever won"
1t is an anomaly which cannot last
that we should strain every nerve and
increase expenditure to save from one
to two hours in the rapid carriage or
delivery of mails when a single enact,
ment of Congress all such messages as
require the hastily-sought expedition
could be delivered almost instantly by
the use Of electricity and at the rate,
say. of five cents per message.
Has not the public cause to desire
this measure as surely as the present
monopoly has reason for the earnest
and persistent fight it has made for SO
many years against it?
WALTER CLARK.
Raleigh, N. G.