The record-union., 1895-02-02
SILLY CHATTER.

SILLY CHATTER.
The silliest chatter ever heard is that
INDUCED in by the anti-railroad clamor-
lists. that if the Central Pacific Railroad
Company is given an extension of time
III which to pay the bonds guaranteed by
the Government in it's behalf, the money
for such payment will be "wrung from
the people of California" in the form of
increased freight and passenger charges.
Whoever makes such statement ex-
poses his lack of understanding. IN the
first place there would be increased abil-
lty to pay on the part of the debtor by
reason of the Iessened rate of interest.
In the next place the increasing compe-
tltion of the day prevents any extortion
even were it contemplated by the debtor
corporation. In the third place the traffic
charges being reasonable and proportion
ate to the service and the volume of the
business, of right, in morals and in law,
the traffic Of a road must create an income
Sut VI w ulcu IL pays lis U0DtS.
But the established right and power of
Government to regulate freight and fare
rates guarantee that there can be no such
outcome as the clamorists pretend to
fear.
The chatter proceeds upon the theory
thatthe management of the debtor road
is devoid Of brains, that common pru-
dence does not manifest itself in it's acts,
aud that it would proceed to conserve it's
traffic by putting an embargo upon it.
But suppose it to be true that if extern
sion Tor payment were given it would re-
suit in maintainence of rates as they are,
for service performed, and therefore that
the road should be taken under foreclos-
ure and operated by the Government at
bare cost for the benefit of, California,
w hat will those on the other side of the
country say about it? Will they not very
justly and properly cry "halt," and ask
by what right one-half the sum due to
the Government, of which they consti-
tute sixty-two sixty fourths, is thrown
away to benefit California, without any
benefit flowing to them?
What will other aided railroads say to
the Government about destruction of
their business by such competition as
would work their ruin? What will the
great East say when it is asked to put up
round sum of millions to save the road
from the first mortgage claimants? What
will the other people OF the Union say to
the proposition to buy in road that can
be duplicated for halt the sum the Gov
ernment would expend, and lose by fol-
lowing the advice of the clamorists?
What will the commercial world say to
being shut out of California trade; for if
the Government is to operate the road for
the sole benefit of California it will surely
make high rates on all goods coming in
and low rates on all products going out.
What will the people OF the United States
say to giving the people of the State of
California ''the free use of the Central
Pacific Railroad" after payment of op-
Grating and current expenses, and exclud-
ing from such privilege the other people
of the United States, those not so fortu-
nate 80 to reside in California, though
they will of necessity foot the ninety
ever Washington Department might be
chosen to direct the operation of the road.
Really the State legislative scheme of
confscation and hoggishness is one to
excite admiration for its unblushing
boldness.