The record-union., 1895-03-11

OF property is not turned over to his use
he will abandon the enterprise altogether.
This is the usual bluff. The average
right of way agent knows how effective
it is. He must have the right of way
through the principal street in the town.
or he will build round it-in commercial
sense excommunicate it from all hope of
salvation.
1he Eronltner raises q note of warning
lt begins TO perceive that competing
railroad has all the attributes of other
people; that, in short, railroad is rail-
road; that both as to motive and method
there is no distinguishing difference be-
tween them.
AS to how this piece of legislation will
look five or ten years from now we do
not intend to inquire. In the transaction
OF business the eager party always get
cheated. When man wishes to buy
something over-much, he generally pays
too much for it. When over-eager to sell,
he usually sells below a true valuation.
Just now the eagerness of the public is
very likely to make bad bargain. Have
the public no precedents of bad bargains
made in eagerness for the accomplish
meDt of some over-desired enterprise? i
y There is one feature, however, of this
bill which even in the present time illus
strates the cunning of those who are ask
Ing for the lease and the simplicity of
those who are about to grant it as fully as
1t will five or ten years hence 1t is the
prohibition placed upon the Harbor Com
mlssioners that under no circumstances
shall they receive more than 81, 900 per
annum rent. This is perhaps the first in
stance in the history of human dealings
where the owner of property has forbid
den his agent to take more than certain
figure as rent. The establishment of a
minimum would be wise and is not un-
usual, but TO fix a maximum of the
amount of rent which a certain piece of
property owned by the people of Califor-
MIA shall bring. is little short of imbecil-
ity. The mover of the amendment to the
Senate bill-Mr. Frank Powers-is a
lawyer. 1t is in order to ask him whether
as agent for the people of California he
thinks it judicious administration of the
property to pass a law prohibiting its
agents from obtaining more than given
amount Of rent. If the measure under
consideration becomes a law, it will be a
constant monument to the cunning Gu
pIdity OF the managers of the San Joaquin
Valley Railroad on the one hand, and the
stolid imbecility of the representatives of
the people on the other. 1t will not re-
quire years to have this Characterization
OF the transaction received as just by all
men; it will require but few months to
serve that purpose.
In the meantime we would not be un-
derstood as raising an objection to the
bill. To do so would look too much like
treason to the San Joaquin Valley Rail-
road. Our record of friendship for rail-
roads, including those which are to be
constructed as we'll as those which NAV
now exist, should not be broken. We
initiate the E.caHttner. We protest that
we would not take the name of the San
Joaquin Valley Railroad in vain, We
ask in advance for pardon for all sins
against the San Joaquin Valley Road.
and as we hope to be forgiven, we urge
the Legislature to pass the bill to turn
over the entire water front of the city of
san Francisco to this new enterprise. It's
projectors can never die. Corporations
never become insolvent. Railroads never
combine nor consolidate. MilHonaires
have no greed. At least, the species of
millionaire behind the San Joaquin Val
ley road can do no harm. To quote and
apply the language of the Constitution of
California, sin all controversies between"
newspapers and the San Joaquin Valley
Railroad, the justice and right OF the con-
tention of the latter ''shall be deemed
conclusiyely just and reasonable" ~
In the meantime, we suggest this stand
ard of determination of the right or
wrong underlying this matter: The
property asked to be leased belongs to
the people Of California. If it is to pass
from its ownership and control for a
period of fifty years, ought it not to go
at the highest rent rate obtainable?
Fifty years from this time it will be
worth in the coin of the realm, $50, 900, 900.
Twenty-Five years from this time it will
be worth $50, 100000. It's average value
during the entire period will be about
SO, ,O00,000 This money belongs to the
people of California. Should it be leased
10 a corporation for less than it is worth :?
Shall the owners of private capital enjoy
the practically free use of that much
money belonging to the people of Cali
fornia? II the Legislature is going to be so
stupid so as to give away this property for
fifty years, is it asking too much that it
should at least 20 the highest bidder?
THE ASSAULT ON THE BOARD OF
HORTICULTURE.
The proposition pending in the Legisla-
ture to abolish the State Board Of Horti-
culture is one that looks to retrogression