The record-union., 1892-06-01

other than in the establishment of the in
dustrieS that would be built up in Cali
fornia, out of which something could be
made. Where are so many things in Cali
fornia which could be grown from the
soil and manufactured, if the people
would turn their attention to it, instead
OF crying out against railroad rates.
These things all seem so clear to me that
think they must be apparent TO all who
take time to examine the subject, and
therefore l cannot help but believe that
the spoilsmen and the demagogues who
raise the cry of Monopoly ~ do it to de-
ceive the people, hoping thereby to raise
themselves or their friends into places
they are unit to fill, and in other ways to
reap without sowing, or to find some place
where they can take up something with
out laying anything down. l believe
that in every place in the State where
railroads have been built the country has
been largely benefited by such improve
ments, and / am satisfied that the great
mass OF people in the State who earn their
bread by the sweat OF their brow are max
ing little or no complaint; but this cutlery
that is raised against corporations is
mostly made by such men as Leeds and
others who think it an easier way to get
their bread than it is to earn it by honest
industry, and perhaps he should be eX-
cused for making this outcry when we
consider that he gets $4,000 a year as COM
penSatlOn for the noise he is making.
Wish you would do all you can 10 eX-
plain TO the people of the State that we
shall work the railroads SO close to tie
line of their interests that there will he
little or no profit TO those holding the
equities until there is an increase Of bust
ness whereby they can get something,
but we hope that the time will come
when this increase wiil~be so large that
prices can be reduced. The writer can
well remember when the railroad fares
between Albany and Bunalo were from
i've TO SIX cents mile, and the stock of
the company was not more than quarter
OF what it is to-day; but through the in
crease Of business passenger rates have
gone down to about two cents mile, and
the capital stock has been increased to
about 500, 900, on which the road is
paying large dividends. One railroad of
600 miles in length, on this side of the
continent, handled 100000 Of pounds
more tonnage than all Of the roads in the
Southern Pacific system. OF course,
where the tonnage is SO very large, as it
was Oh this shorter road, prices can be
reduced to very low point; but il is well
tor CalitOrnianS to remember that more
than half the acreage OF the United States
lies west OF the l0Uth meridian, with less
than 100000 of population. whilst the
portion east has more than G0,OO0000;
hence it Will be some time before the
rates are materially reduced in Califor-
MIA, and it never will be done by adding
large capital for building other roads, on
which interest on the cost Of the plant
and current expenses must be paid; and
II this is done, that is, more road built,
great trouble and loss must come to those
who invest their money in creating the
same.
am aware that some say the roads cost
too much. but / take issue with them
there and say that no roads have been
built in the United States under the same
circumstances for less. of course. there
Is always Il Speculatiye\eIement in the
stock, and whilst we have large money i'll
the shares, OF course they have not cost
their face value, but we have received no
dividends on any OF the roads except the
Central Pacific. 1t Is qualification to
US, however, to know that While we have
made no money, the farming lands OF the
Stationary of them-have been in
creased many fold by the building of these
roads through them, and we are satisfied
that some time later, when the country
becomes rich and thickly populated, as it
IS bound to be, we Will receive some re-
turn on the money which has been in
vested in the equities OF the roads.
l wish CaIlfOrnianS would look at these
things carefully and examine for them
selves. Our auditors and bo0kkeepers
will be glad to give them any information
that they desire. And if they can point
out any way whereby prices can be re-
duced and the current and fixed charges
pad, we, the owners, shall be very glad
10 adopt 1t. Yours very truly,
C.. l.. EVNTTSGTON \