The representative. [volume] (St. Paul, Minn.) 1893-1901, 1896-04-08


pletely as ever. The Vanderbilts and
! their friends were the only ones who profit
ed by the deal, which is only one OF hun
| dred 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 companies
were created to supply them, one taking
the east ond one the west side of the city.
The Metropolitan road ran up Sixth ave-
nue., and the New York Company took
the Third avenue route. Each issued
| stock to the amount of $6,500,0 900 together
with small lot of bonds. The amount
| was put in cash in the road.
Wall street saw the possibilities of profit
in rapid transits, and proceeded to take adj
| vantage of it. The first step was to con-
| solidate the two roads, not by adding the
two capitals together, making $4,000, 900,
| but by creating a new company called the
| Manhattan, merely to take the lease OF
| the other two roads.
| rms lease had such large prospective
| earning capacity that it was capitalized at
| $l3, oOO,0 600, making a total Of SIG 600 0OO of
| winch one-half was clear water or wind
| 1t represented no investment in the prop
| erty, and was merely so much stock
| printed to order, to be unloaGed on an in
| nocent public.
| For months before the amalgamation of
| the roads they were the center of a cy-
clone of villifcation and abuse until the
STOCK were pounded down to II cents on
| the dollar Once the property had passed
| into Jay Gould's hands it was manipulated,
upward until it reached It's. and then in
gay because of quarrel between Cyrus
w: Field and the Gould interest it fell 20
points,
1T has been a favorite gambling stock
since then, being specially useful in cases
where deals were made with local politi-
| Grams, they being let in with points on the
market in return for the granting of pub
! lie privileges
1t cannot be gainsayed that congress
has legisate6 steadily in the interest of
the corporations, and to curtail and re-
Strlct the power of the state in control
ing the railroads and protecting the small
investors and shippers. The machinery
on Inc federal courts has been the main
engine IN this robbery and ruin. During
the past thirty years, with very few ex-
ceptions and l speak of the exceptions to
the honor of the few judges who have
Wlthstood the almost empowering temp
| tatlonS with Which they have been beset
| the decisions of the supreme and circuit
courts nave been uniformly against the
people anN in furtherance Of the aims of
,hose who have stolen, under forms of
law the larger portion of this railroad
property from its original owners.
| The reason why the federal judiciary
mas been thus antagonistic to the best in
tereSts OF the country and to Justice is
mat the Judges are almost uniformly Sc
lecIeu from among corporal ton attorneys,
ana nave no doubt their names have
peen frequently suggested or dictated to
| the president for appointment by the cor
porations.
IL addition to this the raw products
hauled to market, together with the
manufactured poducts transported to the
interior in exchange, have had to pay
freiSht far in excess of what is reason
able in order to yield fair dividend on
the capital originally invested This in
spite OF the fact that the interstate COM
morce law was passed by congress essen
tally with view to the control Of the
eXtortions Of railroads in handling freight
and to prevent discrimination and re-
bates
The United States treasury is run as
though 1t were private corporation The
| secretary of the treasury goes to New
YORK when called upon by his masters to
receive instructions. His deputies are
constant visitors at the Offices of the men
VINO control the treasury from this CITY,
1t is notorious-at least it was general
ly reported in the newspapers-that Mr..
Cleveland, in the early part Of 1885, said
that Wall street had the country by the
throat. We would have naturally looked
10 a man who appreciated that fact and
who sought to loosen Wall streets grip
| on the country's throat, to have selected
| other advisors than men who are leaders
dnG directors in Wall street.
But he coolly and deliberately opened
the doors of the treasury and bid those
leaders in Wall street enter and work
their own sweet will.
There have already been issued $685.
o0J,0OO OF bonds to add to the. burdens of
me already desperate taxpayers, and the
end is not vet Still, we are told that the
financial question will not be an issue in
the next campaign.
The best illustration Of the existing con-
ditons, and one which will appeal directly
to every farmer in the United States is
picture which I will draw The idea,
however, is not original with me-
Spread the map of the United States be-
fore you. Let us consider for purpose of
illustration that there is an enormous
haie COW, SO large that she can reach
half way across the continent. Suppose
her mouth to be in the Mississippi valley
and set the myriad wagons and freight
trains of that granary of the world in mo-
ton to transport into her capacious nav
all the surplus products of the farms of
the South and West
1t is never-ending stream. and the
sturdy toilers in the field. with brawny
arms and sunbrowned. toil-stained faces.
push forward with the products of their
labOr to satisfy her OmniverOus appetite
So much food should produce some milk
But where is her udder? Stretch one of
her legs back in the usual attitude for
milking so that it will rest in New Eng
ldilu. lie Oluer nina leg Will rest IN New
Jersey.
The bag hangs over Manhattan Island.
See the streams of rich. golden milk drawn
from the udder of that great cow The
farmers feed and ever feed. The milk
streams into the receptacles of the capital
ists-the bankers, brokers and specula tors
on Wall street
How much longer, o benighted sons of
toll. will you feed that COW? You are
getting no milk. How much longer will
you vote like dumb, driven cattle with
out considering why you vote or for whom
you vote?
Let us reverse this picture. The last
congress, after bitter struggle passed an
income tax measure. The idea was to
nave wealth bear some proportonate
share Of the burdens of government. From
those who had much it was intended to
take just little.
Congress turned the great mich COW
around and placed her head in New York
and her udder at Washington. What
happened? The supreme court of the
United States took the COW by the throat,
choked 1t to death, and the poor farm
ers standing at gaze have not yet re-
covered from their amazement
No milk.
How much longer will the farmers SUBJ
become the tool and instrument of the
oppressors make the few more wealthy
and the millions poorer?
On this very island Of Manhattan an
Aston owns II 900 houses. 1 have been
told. We are asked to fortify New York
Harbor to protect this property from de-
Strl1ctiOn. nv an hostile foot Ac+o, l,oa