The herald., 1895-01-25

to the County R"~ds Hili
FA1RMoUNT Cal, Jan %.
| To THE EDITOR OF THE HERALD:-I observe in >
the Express a report OF opinions upon the
Mathews bill, expressed by various Legislators
| of the southern California delegation The OBJ
| lection of the senator from Kern county would
be met by the amendment recommended by
the chamber of commerce convention making
the representation upon the joint board OF
control and the ownership proportional, not to
the mileage within each county, but to the
amount OF bonds issued and sold for the con-
struction of such railroad. Thus, each county
might use its credit in the issue OF bonds in
proportion to the amount OF credit it pos,
sessel Thus If the four or four and half
millions of doll lrs in bonds Los Angeles coun'
t. is quite able to issue oue-third part leav-
ing to each OF the other four counties as far
north as Fresno less than $750,00O each-an
amount that would not strain their credit,
surely
Moreover, an issue of bonds to build q pro-
ductive property which will pay the bonds,
principal and interest, is quite adifferent thing
from bonds issued to build public buildings
from which no revenue is to be derived and
too, a very different thing from bonds issued
IN aid OF railroad which is to be owned and
controlled by private capital. The latter is
gift from the people to capitalists, the former
is an investm ent by the people in an enter
prise conducted by themselves solely for their
own profit. An investment too, not of money,
for it will not require dollar OF the peoples
money. but an investment of something which
is worthless unless used, and something which
they are not likely to use for their profit in any
other way-the credit OF the whole people I'M
dertaking the enterprise.
This credit is really capital which has &C.
cumulated a direct result OF the organiza-
ton of society, the aggregation of people and
property, an increment OF character and toll
and belongs to the people who have created it.
Why should they not use it for their own
profit?
Not one single instance is there in which the
people have done this to their harm or regret
They have voted aid recklessly to private cor
porations that have abused their trust an(
given no return, but in hardly any case hav
the people so guarded their bond issue as
make it possible for them to control the pro
erty which their credit has built.
The railroad in Northern Georgia is an e;
ception. however, for when the great corpor
ton abandoned this branch line because 1t d
not pay, the state assumed control, and
shown by Governor Northens recent messag
under state management the railroad is nd
no; only paying operating expenses and int4
est on the bonds but also a considerable pat
OF the state expenses.
For the people to build railroad viii CHI
they will wholly control and which they make
elf-sust aiming by merely diverting to it the
freight which they are obliged to ship and the
passenger tariff which they must pay to some
body or something. gaining the absolute
tainty of reasonable rates and no corrupting
and disheartening Determinations, W thou
paying dollar of extra tax, would seem to be
for the people good business proposition.
There can be no very good reason why our
legislators should not, by passing the Mathews
bill, permit the people themselves to decide
whether or not they desire to do this thing.
The bill is simply permission to allow the peo-
pie to determine whether not they will I'M
dertake this. Are they to be, treated US inca
pables under guardianship?
The legislator who takes this view is assum-
ing vely heavy responsibility.
Very respectfully yours,
A. r. SPRAGUE