Wheeling register. [volume] (Wheeling, W. Va.) 1878-1935, 1893-08-07
BY A RAILROAD SCHEME
Of Gigantic Proportion the POpulist
Silver Men Hope
TO AFFORD FINANCIAL RELIEF
To the Country = Government
Ownership of Railroads is the
Will-o'-the Wisp They are
Chasing-Sentiment Said TO be
Changing In that Direction
The Plan Proposed.


OF ths silver convention Mr.. George +.
Washburn, OF Boston, Mass, chairman
OF the Eastern Division. National Com
mittee Peoples party, and Colonel A. c.
Fisk, OF Denver, COL, President Pam
American Bi-Aetallic Association, to-
gether with other prominent PopulIsts
OF the West, have been In daily consult
tation with government officials, bank
ers, capitalists and railroad men Of the
West, devlsing q gigantic railroad
scheme Of government ownership which,
they think, will afford financial relief TO
the country and make at once Aa Issue
Of two Of tho pet plaEks OF their plat
form.
Mr.. j. II. Davis OF Texas, who was
the Populists' candidate for Attorney
General q year ago, and who during bis
campaign proposed similar plan, is
the legal counsel for the Populists. 10
Is alleged that the money stringeney
has affected transportation so grestly
that the receipts on many Western
roads have fallen of fully one-third,
and that receivershlps for some OF them
have already been asked for, which
would also mean the ruin OF the com
mercial and industrial interests In every
Western and Southern State.
Mr.. Washburn, who Is a prominent
business mAn In Boston, tonight states
that most OF the stock OF these roads
was held in New England, they bsing
Boston enterprises, and that the loss
Of dividends and threatened ruin Ia
rapidly changing sentiment In that
section In favor Of Government owner-
ship OF railroads, "a we'll 20 for BIZ
metAlllsm.
TIE PLAN PROPOSED
| Is, that the National Government shall
issue bonds for all legal and just In
debtedneSs, being governed by the
same tenure and contract which now
exists. The amount is estimated 10 be
about two-thirds OF the value OF the
railroads, and an issuance OF legal ten
der treasury notes OF silver certihcates
for the rsmaining ope-thifd.. Qbjestlon
was raised e:.ne popc<xss plaD 20 psy
one-third in treasury Notes, which
would greatly increase u Z price OF
products In the counuYN 49,, 10
was claimed that even
the full amount OF onS..
should be Issued, that siIty.ave mlF
lions OF people could better absorb two
| billions OF treasury notes now than
twenty-five millions OF people did In
1867, ana that this Issuance OF treasury
notes would afford Immediately financial
relief and inaugurate a period Of pros
uerlty unparalleled ia the history OF the
world, but the Popullsts do not propose
that the Government shall buy all the
railroads at once. but so gradually that
no shock would be felt In the money
market, beginning with the western
roads they would be taken In the order
OF their application, some being ready
now.
Popullsts say that while their party
Is opposed 10 any new Issuance OF
bonds that no objection could be offer
ed 10 the even exchange OF bonds which
already exists aud that the bonds could
be gradually paid, and In few years
the Government would own the rail-
roads. IL Is claimed that the plan
would not antagonIze
| EXISTING RAILROAD fHTbiEsIst
and that II the government owned all
of the railroads west Of the Mississippi
river, instead OF being competitive 70
the Eastern roads, they would be dis
trlbutlve, aud could be used by the gov
ernment TO move the crops % the mar
ket at cost, and In this way develop tho
resources OF this great Western country
and thereby stimulate trade. Also.
that uninhabited sections could DO col
onized, the low fares being an Induce
nent TO immigration. aud In this
way relieve the elites from their
present contested state. snd
provide su additional market for the
manufactured products for the people
who remain and ipasmuch ~ commis-
sion only would be nesded Ia each
State, the saving In salaries would %
enormous. Its claimed that tbe bond
holders ike the idea because they would
recslye national bonds ia even e1chtnzs
for nuctuatlng railroad bonds Of uneer-
tain yalue. and would save the stock.
holders from loss.
The bankers take kindly 70 the
scheme because IL solves the problem Of
how to get more bonds.
The employees would advocate the
plan because they would have tenure
snd stability OF employment. and
through election and civil service az,
be able TO protect themselves against
injustice by superior officers, a. well -
against removal.
Ills further alleged that merchants
and shippers favor the plan because
there would be no LIBERALIZATION Ia
transportation rates 10 favor OF trusts
and syndicates, and thas u EoD
ducs the aggregate Of hIed
fully one-thirc.
The farmers favor 10
would get freight rsi
not be All the "trsfie
thereby absorb AL ms
Mr. Wsshburn will
lngtOn tomorrow 70
| ,,aeented 70 COugres