The morning call. [volume] (San Francisco [Calif.]) 1878-1895, 1894-05-16
LOOKING AHEAD. :

The Fresno Republican has mixed up
facts with fiction 10 its comments upon the
"CObblestone Metropolis" the rough. but
solid name that journal substitutes for
San Francisco. It is a fact that this city
has been slow about building The San Joa-
Quin Railroad. but fiction that she does
q not pay her full share of taxes. The latter
matter is, however, Of comparatively
small importance. What our Fresno friend
has to say about the proposed railroad is
more pertinent The point Of the. lndiCt-
ment is the following:
The San Joaquin Valley has for years been
pouring the treasures Of her soil into the mar
ket at the Golden Gate, has purchased her
vasI supplies there and spent her surplus OF
cash for the enjoyment of such attractions as she
had'io offer. In return for the large volume of
trade given 10 San Francisco the people Of this
valley have asked for assistance in securing a
competing railroad. have asked for the use of
money at rates of interest which are not usurl-
Gus, and have hoped and eXuected 10 see tn at
city rise out Of the dust Of her business degra-
dalton and DO something. TO which we could
point with pride ana satisfaction. We have
received nothing for which we have asked and
every expectation has been disappointed. To
rates fOf transport alton which cover the pro-
duceTs' margin of profit is ADDED a double rate
OF interest upon the money necessary TO carry
on our industries ana san Francisco has iu-
doently observed the dwarfng of enterprise
and development upon which her own future
depends without making the slightest effort TO
remove barriers to growth and prosperity.
These stEic Ures upon our business
methods are submitted with only partial
Endorsement. The point TO which we
would call attention is. the reference to
the failure to render assistance to build a
competing railroad. The hard times of
last year are an excuse rather than a
reason. The small sum of money re-.
CURED to put the enterprise on its financial
feet could have been secured in a week if
our solid men would take a long and
brave view of things. There is not an
other railroad project in the country that
can be compared in results with the one
our capitalists have so far hesitated to
embark in. Longer and more expensive
railroads are constantly being projected
into districts where traffic has to be Gre
ated. The nightmare that holds our rich
men in its grasp is the known policy of
the Southern Pacific Company. The new
road, it is supposed, will have TO meet
whatever rates the Southern Pacific may
see fit to establish. But the owners of
the new road will be to large extent its
customers. 1t can maintain living rates
without much consideration to the cut
rates its competitor might establish.
There is another fact to be considered
The Southern Pacific has to pay high
interest on three o. four times the
amount of bonds the San Joaquin road
will issue. While the managers of the
road are rich men, the company needs all
its earnings to maintain its immense debt.
In brief me the Southern Pacific would
find that its interests lie in serving the
people, subject to such competition as
other business men have to put up with.
Its days of monopoly are nearly passed.
1t may continue 10 do living business if
it works in the interest of the people.
Otherwise the local systems Of roads,
which is but matter of short time, will
develop into a transcOntinental system.