Barbour County index. [volume] (Medicine Lodge, Kan.) 1880-current, 1892-04-13

! 1t Is likely that all sort of people will
urge all kinds Of objections to this plan,
but warn all prospective objectors
that they had better study and reflect,
long, carefully and exhaustively, before
they rush in with their objections to
this proposition-it's loaded.
But, 1t may be asked, chow will that
demonetize gold and silver?" answer:
| By the force of public education and
the example of public precedent. We
have now, in round numbers, about one
billion dollars in gold and silver money,
and with free coinage of silver the two
metals may be relied upon to furnish
S60, 100000 additional each year. Under
the operation of the system have out
lined, $3.50, 1000, 900 in gold and silver will
| be locked up in the government vaults
each year, and United States legal
tender, paper money, issued in its place;
such money being 'bottomed on taxes"
and redeemable in United States one
per cent. interconvertible savings
bonds of small denominations. At
the end of a decade S1,,OOO,-
100000 of such money would be
in the hands of the people, having re-
placed that amount of gold and silver,
which would then be paid to the holders
| of railroad purchase bonds. What would
these men do with this gold and silver?
They could do one of but three things:
First-Invest it across the ocean,
either permanently in real estate, or
temporarily in merchandise, which they
would have to bring here and exchange
for paper money. In investing abroad
the gold and silver would be sold by
weight, thus being demonetized.
Second-Store it in cellars or vaults
in which condition it would possess less
value than cellar full of potatoes
Third-Use it at home in buying real
estate and the products of labor, or loan
it in competition with the paper money
loaned to the people at two per cent, in
accord with the demands of the Cincin-
natl platform.
Query: How long would it take the
people to discover that in using these
more or less useful metals as money,
they were guilty of willful waste and
useless foolishness?
There appeared in the August num-
Der of the Arena an article upon the
subject under consideration, prepared
by c. Wood Davis, who is known to be
an experienced railroad man and an ac-
curate and well informed authority
upon railroad statistics.
In the course of the article in question,
Mr.. Davis presents a carefully prepared
schedule of savings" which would or
could be effected by government owner
| ship and operation. 1 shall, therefore,
| take the liberty of using his schedule
of savings" in the summary or recapitu-
lation which shall now offer, in which
hope to make the justice, necessity
and feasibility of the peoples owner
ship and operations of the railroads so
| plain that "a wayfaring man, though
he be fool, need not err therein" .Nr.
Davis schedule is as follows:
Saving in consolidation OF depots
and stats s:........- :....... 100000 900
Saving in exclusive use OF shortest
routes ..................... 2j,OOO 900
Saving in attorneys salary and legal
expenses ...,..................... 100000
Saving IN aorogatien OF the pass evil 30 900, 900
Saving In abrogation of the commits
sion system ......;....:............ 100000
Saving in dispensing With high
salaried presidents, manageIs etc % ooo ooo
Saving in disbanding traff1c associa-
tions ';..'.;..;.;.........:.:. 100000
Saving in adjustment of (all but
locaD offices ......:.... 100000
Saving in fiye-sevents Of advertising
account. ........................... 100000
Total. ......................... s1eO 900, 900
1t will be noticed that the total saw
ing in operating expenses as sched-
uled by Mr.. Davis is $3.50, ,OOO, 900 wear.
Fer the year ended June 80, 1889. the
gross earnings of the roads were $780,
100000; net earning, 1920, 900, 900. |
(both round numbers). The amount.
1860, 0O0, 900, given as gross earnings
does not include the amount paid bv the
people to the railroads for the transpor-
tation of the mails; therefore such item
is not factor in the calculation. The
case would stand thus:
Present operating expenses s64o 600 OOo
Deduct Mr.. Davis schedule OF say |
tngS enected. NEUTRALITY-SUSPICIOUS.. 10000 ON
Net operating expenses. ....... $4,000, 900
Gross earnings Observation-Disclosures. 100000 OOg
Deduct net operating expenses ... 4s0 900 ON
Net earnings. Observation-Disclosures. 4sO QUO. Jo0
Deuuct interest account. 10000 C0 i
Surplus .......--.............. 2sO.OOO,OOl
Deduct sinking fund. ....... ..... 16O01oo0 /
Available net annual surplus ....... 1890 600 |
At the end of ten years one-fifth OF |
the cost of the roads would be paid /
while the population having increased
to S0,000,0 600, the per capita cost of rail-
road facilities would be reduced from
$16 to S12, gross reduction of 25 ne,
cent. and an average annual reduction
of ~ per cent, while the met annual
surplus" would furnish fund of s120..
600, 900 a year for all necessary uses.
The. bonds being now payable at the
option of the government, the sum OF
$3.50, 900 of such bonds would he
paid each year, thus effecting an an.
nual reduction in interest charge Of
$4,000 900. and adding that amount each
successive year to the surplus revenue /
and saved interest fund of the wear he.
lore, such saving in interest charge and
!he net annual surplus amounting dur
ing the last years of the fifty years |
Cerm 70 the enormous sum of 90, ,32O, ,OOO.- |
ooO-or an average of $500, ,0oo, 900 each |
year for the term of forty years. This
Iund, thus furnished, would build ali |
necessary additional trackage, and also |
construct second or double tracks to /
our principal trunk roads. and would |
furnish fund for the payment of anv
addlt1onal force of employees that might |
De employed, as well as shortening the
hours OF labor and increasing the wages
OF those already employed.
AT the end of ffty years the roads
would be fully paid for, and the whole
sum of s9eO,oOo, 900 be available for
operating expenses, which was equiva-
lent to saying that the people would
get their railroad facilities at cost. The
population having increased at the ex-
plration OF fifty years, or in the year
1899, to at least zoo, ,000, 900, the cost of
railroad facilities with one-half as much
more mileage than at present, or 24O, 900
miles, and gross annual charge of
s96o, ZOO, 900 would be 4.s0 per capita,
reduction of 20 per cent from the pres
.ufa G. 4 L