The herald. [microfilm reel] (Los Angeles [Calif.]) 1893-1900, 1895-01-11

among other Utopias. Composition
has long since been supplsnted by cou-
bination. Railroads which are oompst-
tive with each other have long since
adopted the practice Of entering into
agreements to maintain common rates
to common points, and when they could
legally do 90 have pooled their earnings
in order to insurs good faith with each
other.
On fnll confederation Of the facts and
the experiences the country has had i
lie not surprising that the remedy oi
government ownership aud msnassmens
should have supporters. II would be
tremendous undertaking for the govern
nent to buy tho roads, for they are
stocked AMI bonded for more than $l0,'
QUO. 900. 0l0. and the holders woulds oil
insist upon receiving par vAlus for their
holdings. Notwithstanding the bonds
and stock are worth no moro than the
property OF the COMPANY which issued
them.
The railroads Themselves have pointed
out plan that may he the best solution
of the transportation problem To
avoid competition. aud 10 lop off OK
penses they have consolidated until the
bulk of the roads Of the aountry are
now in seventeen systems. some OF
which extend in,o a. many as eight or
nine states. This action OF tho roads is
an acknowle dgemsnt that it il practi-
cable for . single management to
operate a large system. There is no
doubt that the government can operate
all the roads Of the country ~ easily -
the postal system.
Another proposition moeted 10 con.
aolidation of all the roads of the nation
into one system and their value to be
determined upon the basis OF present
cost o! production. Such valuation
10 all the roads are worth; 1t 10 a rule ~
to the worth of all property except that
which has q sentimental value. Con-
solidation on that principle would be
just to capital. Then let the govern
ment prescribe the salaries Of the of.
6cisls. and fx rates, equal in every part
OF the nation, based upon distance, that
will pay operating expenses, thrse per
cent upon the stock. and that VIII sup
ply Whatever sum 10 nscsssaryto make
needed Improvements and extensions.
This would relieve the people from ex-
cessive expense for transportation. snd
remove the management of the read
from political influence.
These aud perhaps other plans are
elici.ing thought which it may DO hoped
will lead to some solution that will be
just to capital and satisfactory to the
people. Tbs bill Of Senator Mathews is
in the line OF this thought. and may be
. step that will have most beneficial
effect. 10 adopt his plan would csr-
tainly bs . valuable experiment. and
may open the way to the best solution
OF the problem. Under his plan the
people would have to pay only such
charges az would raise q sufficient sum
for operating expenses and interest upon
tho bonds issued and sinking fdnd for
their extinguishment. Whom the debt
is paid off the charges would only bs
such "a would produce the money to
pay operating expenses. which includes
maintenance and Improvements. The
people would own the road and would
have the power to enforce the strictest
economy in lis management. 1t would
certainly assure the cheapest transpor-
tation possible, ii there were proper
management