The progressive farmer. [volume] (Winston, N.C.) 1886-1904, 1896-03-24

How many suits has he brought? Not
ono
What further proofs do we need that
: the government ct Washington Is alb
solutely controlled by the money power
Of Wall street and tina the President,
the Cabinet eff :ers, the Senators for
IN any of whom seats are purchased,
the Congressman and the courts are
tho tools and agents Of the octopus
; which has is t~entacies fastened upon
the people throughout this vasC cou
try, sucking their substance year IN
and year CUT?
Following close on the heels OF the
demOnetIz AtiOn of silver came the re
sumption Of specie q yments, entallIDg
an enormous contraction of the CIICu-
latlng MEDIUM. The two causes have
steadily hammered prices down until
to-day they are lover than st any time
within the last three centuries. The
masses Of the producers throughout
the country. the men who create us
wealth, r being rapidly paup6rlZad.
4 tTm6Ts who have struggled to obtain
homes are driven TO the most desperate
straits 70 Keep from losing them, Or
nave already lost them. wnlle these
hnanCIal vampires who produce moth
]ng are revealing IN wealth undreamed
OF IN any past age Of the worlds his
tory.
We are rapidly coming to be a COun
try Ia which what should be d l4rge,
wejlIO do, Contented cips 81 OF Y omen,
such as must over be the strength Of q
nation, are hOpeiessly staggering I'd
der burdens Of debt with no prospect
% relief. slaves bound to the sUlI oy
mortgages,
The growth ard development Of the
UGlced States e3nCe the war ha3 been
the wonder Of the world. Ole Of ghe
ms St r. m2rkable things IN connection
with thaC development has been tI0
eY Dan8iUn IN railroad bulldlng.
Who owns these roads, and in whose
Interests are they run3 Built, as many
OF Them were originally, by the aggre
EatIon OF capital 10 small from
genuine stockholders, they have ben
absorbed n q manner almost phenom
In@l, until to d y ii i9 1fe TO say that
Chree-fCurCts OF the railroad mileage Of
the couutry IS owned and controlled
by q few score Of men, most Of whom
have their fiji :as on Wall street.
How could such things haDpen2 will
be asked. They simply stole them,
that IS all.
The railroads of the la d are now
represented by a capital stock Of s.,
$50 600 0U0. a funded or bond debt of
s. 200 600, 600 and a fl ating debt of
nearly 800 600, 600. The gross arn
ings per year Is now about 81. 100, 600.
UU2. leaving after pay ing operating ex
DnDs6S net earnings of about 1926 900,
600. This is divided into interest on
bonds OF abOu5 S235 600, 900 per year.
and dividends on stock of about $50
! nnn 000 Trn - ~ IrrT.I ro..0$
nearly 600 600 600 per year and the
freight traffic Is nearly 700 900, 900 tons
a year
Every cent Of the enormous income
from this leading industry of the cOun
try comes directly from the people. An
examination would show tn It the
money honestly expended in the pro
du 5tiOn of ell railroads and their equip
ments is but q 1.-THE Of the capICal
nOminally invested in them. the rest IS
water pure and simple; but is figures
as Invested capital" as vested IN
Uerests" upon witch the capitalists
cain the protection OF the courts and
The government machinery, and alWay S
get 1t.
NJ better illustration Of the power
exercised by the mOnOpOlists is needed
than in the history Of the West Shore
enterprise Of New York State. The
Vunderbilts ana their cohorts up to
the time the West Shore road was
started. held the merchants and the
agrIculturists in an iron grasp, dictat-
ing rates and conditions for The hand
ling of 8ffic with absolute despOtism.
The prospect of q competitive line
reaching from New York City to the
lakes put the New York Central people
/ ar fhoyr YOoofkTn orH from tho u0pv IN
ceptiOn of the former measures were
taken to crush it out.
After the new line had been com
pleJed every obstacle possible wes
thrown in it's way. and the road finally
went into bankruptcy. a condition
which had been regarded as inevitable
by every one who at the time was &C
TAINTED with the tactics Of the Van
derbiits. When the West Shore be-
came hOpelesaly involved, the Wander
bits, through Mr.. J, 2. Morgan, COB
bled it up at their own price.
Those who had put money into it
were crowded out, all competition was
crushed and the business interests of
the State placed under the Vanderbilt
control as completely as ever. The
Vanderbilts and their friends were the
only ones who profted by the deal,
which is only ID of a hundred carried
through successfully, despite public
sentiment, and without interference
from the courts and judges whose duty
it was to interfere.
Take another case that is local to
New York City:
For years New York City pleaded
for rapid transit facilities and two com
panies were created to supply them,
one taking the east and q the west
side of the city. The Metropolitan road
ran up Sixth avenue, and the New York