Capital journal. (Salem, Or.) 1893-1895, 1894-09-10
AGAINST GOVERNMENT OWNERSHIP
on RAILROADS.

qiOued "XD has been reaO. Ahe 4ue0
,son uuder discussion might be dis
cusaed without using any insulting
filnes. AS rule never notice an ar
ticle or letter written wherein the
writer does not sign his name, ana
viii not break the rule in this case ana
this letter is not intended as an answer
TO the tx" communication. But pei
haps ana hasty. Many persons who
cannot write sign their name with All
sX.u II such is the case, then the
communication was not 80 bad aftei
All. and the writer should be encour-
aged.
/ have long been puzzled by the de-
mand of the third party that the gov
ernment should own the railroads OF
this country. Most Of the information
received Ia favor Of this plan has been
from Populist speakers, but l have
never yet heard what seemed to me 10
be feasible plan. Some said for the
government to buy them, and otherr
nave said lot the government take pos
session in the same way that railroads
took possession Of the land for right OF
way. suppose they mean for the gov
eminent to bargain with some one AZ
to the value of the rcllingstock and
then pay someone the amount agreed
upon; but If they should refuse to sell,
then the government TO take possession.
Now it seems TO us that the railroad is
not what the government would have
TO buy, but the several billions dollars
bonds and stocks held by Thousands OF
different persons in this and other
countries, and no running through
wringer to squeeze the water out would
be allowed. / would like to have the
advocates of government ownership OF
railroads answer the following ques-
tions: =
/. Has the government the right or
power TO fix the value, or would It be
compelled to go into the market and
buy at market prices?
2. Has the government the right or
eower to buy a single dollars worth OF
these bonds and stock without the con-
sent Of the owner and at his price?
8. Has the government any right or
power to condemn and take possession
Of any railroad, or the bond or stock
interest Of any railroad, any more than
It has the power to buy or condemn the
wooden mills at Salem without the con-
sent of the owners?
We have always noticed when the
government bought its own bonds be-
fore maturity, 1t had to buy at market
prices and not at price fixed by the
government. The first thing to be
done by the friends OF this measure Is
to have an act passed by congress au-
thorizing the government through its
agent to buy and operate the railroads
ia the United States and TO make an
appropriation of about five billions OF
dollars to pay for the same. 1t seems
10 me that railroad stocks and bonds
would increase In value about this time
and second appropriation Of several
billions would be needed. Now know
that these billions Of money is no STUN
bling block to those who advocate buy
ing the railroads, for every time have
heard any OF them speak on the subject
they have always advocated the issue
Of fiat money. "This Is dollar" with
out any consideration, only, that 1t ia
never TO be redeemed. No railroads
will ever be bought with any such
money, for there is not that man living
who would give the poorest railroad
stock for sreh stun.
We must not lose sight Of the fact
that the government can issue money
and compel ua 10 receiYe II In payment
OF All debts and dues. But II cannot
compel us 10 take IL In payment fol
anything we have 10 sell, let II bs
wheat or railroad bonds.
We have been told by the same au
thority that half OF the railroad stocks
and bonds are owned In Europe, oyel
three billions Of dollars. Now thai
amount would spoil our gold reserve
for all viii admit that John Bull would
want gold.
Also answer the question, how Is th'
government going 70 get possession o.
lhe roads and how are they 10 be- paid
foFY ~ seems 20 me that this Is th'
inst question 10 b. settled, and II u can
Dot b. answered, all further talk would
he lrulilass. y, w, BARD,
AUhsyiLLE, Or, sept T.
c0NhEkg,
We prlas ihs above yllh pleasure ~
n bHlnee W tlss strongest olleoilop'
thai can he urged sgsinst goy~nnepl
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