The Caucasian. (Clinton, N.C.) 188?-1913, 1893-11-02
| ,,htAI SPtLJiI.
rCon,inue.i from First PAGE. J

EIouAnued from flTs' iags'l
ma. been i barren idenlty. After
tw~uty Years experimenting WIN
laws. congress and commissions, u
j. now apparent, all these contri-
xanees ar. failures. These corpor-
s,ons are a law TO themselves. They
obey when they choose ana DEFY
when il Is Ia their interest 10 do So.
They dictate party nominations ana
All courts and Legislative bodies
with their attorneys. The boosted
interstate commerce Law Is n dead
/. tier. IL had but one spark OF vi
tally, the power 10 compel witnesses
70 testify. The railroads defined the
law and that spark died ost before
the breath of a Judge whom the cor
porattons themselv ; hal raised 10
the bench. TIE board upon this law
To enforce II was a poor weakiIng
from It's birth. Ii never had strength
enough Ia stand upright like "a crea-
turc made IN the image OF God. III
was made up from the list of states
men out of u job, corporation en-
board is only a smaller breed of the
same species of bug. Ii has shrlv-
eled. dried up and degenerated ull 1t
is little more than IA mere waste
basket where the railroads throw
such statistics of their business as
they choose 10 make public and NO
mere.
ECONOMY, JUSTICE AND SAFETY.
of restraint upon corporation rapac-
ity, are as insignificant and useless
as an old smooth boro cannon of the
seventeenth century in modern war
fare. Such Is the status of this CO.
lossal system of highways as the re
cord stands to-day. And now, feel.
low-citlzens, we are nearing a new
field In relation to all these things;
we are upon the border of a broader
republic than any hitherto known
among man. A democracy broad
enough to include the whole people
with all their rights and duties;
broad enough to include the public
ownership of all public instruments,
not only the railroads, but the mon
ey system, the telegraph and all
kindred things. This is true repub-
llcanlsm, true democracy. 1t is per
feet harmony with the fundamental
principles OF popular government.
We advocate public ownership. FIRST
on the ground of economy. Second,
on the ground of justice. Third, on
the ground of safety.
The first thought that comes to
the average man when this subject
is presented, is not question as to
the right of the nation to own these
highways, that is already settled.
but it is question OF economy of
the cost of purchase, and here let us
consult Mr.. Larrabea for a few
foundation facts:
''lt is safe to say that $25 900 is a
liberal estimate of the average cost
per mile of American roads to the
stock and bond holders, and that
their capitalization represents $685.
OO0 OF water per mile. The total
net earnings of the railroads of the
country were $34l $685. in 1890,
and 1886, 227 1888 In 1891, upon and
actual investment OF only about
50. $50, 100000. This is a return of
about 81 per cent and shows the
force Of Mr.. Poore's statement that.
If the water was squeezed out of the
railroad securities, no better paving
investment could be found in this
country"
Here are $3.50, 0OO,O 900 of net rev.
enue under the present system $780, !
O00, 900 of which would be saved to
the public from the destruction of
watered stock alone, a sum sufficient |
to pay for the entire system in twenty
years. Substituting the sound credit
OF the railroads would alone affect
the saving. That is not all, the cost
ot maintaining 1,7O0 separate cor.
porations, working at cross purposes.
striving to destroy each other en-
:ails an enormous expense, every
tollar of which is ultimately paid by
he people. All would be savea by
public ownership.
The second reason, that of Justice.
nay be quickly Opposed of. A large
'art OF the mileage the people have
'ald for over and over again. the
greater part of the system over ten