The Pascagoula democrat-star. (Pascagoula, Miss.) 1878-1920, 1896-05-15
THE

IL 10 pfsSlnR strange. lnaU Win tut
widespread dissatisfaction at Trusts,
aud the National and State legislation
aiming at their destruction, a much
greater evil than any existing comb
nation is drawing our life-blood un-
checked and almost unnoticed. We
refer to that giant, omnipresent and
omnipOtcnt monopoly, the telegraph
companies. \ diligent search, the
world over, would fail t. locatc another
suchenterprisc, combining, asdOt these.
legitimacy and extortiOnatc methods.
Modern progress has rendered the
telegraph an Indispensable adjunct to
civilization; and, being so necessary
to the wants Of mankind, they have
ever been willing to offer more than Il
Quid pro quo when its services were
invoked. But, in that blind submis.
sion TO familiar and everyday evils,
which is so prevalent among our race,
especially in the land OF the free"
we seem to have lost sight OF the
mOnstrOus evil that lcyics 50 heavy a
tax upon one and all. There is no
person in this broad land, of any age,
sex or surrounding, who does not con-
tribute, directly or indirectly, to feed
the appetite of these insatiate cor
porations. Under the iniquitous WA
tering system" SO much in vogue, their
capitalization is enormously larger
than their tangible values, though the
former, thanks to excessive tolls, finds
compensating interest nevertheless.
1t is commonly believed, and alto
gether probable, that the Western
Union Telegraph Co. is stocked at
four times its value, i. e., four times
the actual cost of its property. Bear
ing in mind that the stock in question
is fair dividend paying, it follows that
the grasping owners thereof are gath.
ering in from the public four times as
much from the investment as would
satisfy capital engaged in most legiti.
mate pursuits.
Wherelies the remedy? Aye, there's
the rub" In all humility, hut with
the general good before us, we beg to
throw out a suggestion. Why cannot
a corporation be formed, drawing its
capital from the great mass of the
people, non.dividend paying in clarac.
ter, and cooperative in design? Let
the capital stock, cash and fully paid
up, be subscribed for all over the
country, each State, or rather the
business community thereof, com.
Ing in for a holding pro rata as to
wealth or population, and holdings
limited to M share each. Twenty.
five millions of dollars could easily be
raised | IN that way, with probably no
individual or firm owning more than
the one share as above, say of ten dol
las par value. Establish the tele-
graph tolls with disregard to profit,
and ut such figure as would make the
affair merely self-sustaining, with a
moderate sum left over for constric.
ton work, or to cover contingencies.
The affairs could be directed by a gov.
crning board, consisting of one rep
resentativc from each State, and who
would be selected by a majority OF
the stockholders. The fduciary Off
GERS could be placed under bond, and
Il system Of check inaugurated which
would insure an honest adminlstra,
ton of the company's business.
What would be the result of thi.
measure? Here is the answer: The
cost OF tclegraphing, that is to say
the cost to those who pay it, woul;
be REDUCED perhaps to one-third tn,
present figures, saving many millions
OF dollars annually to the genera
public. Commerce, vide business
would receive IN enormous impctu,
through the increased facilities for, o.
inducements to, Geographic communi
tion. Stockholders, in lieu of dircc,
dividends, would save annually man,
times their little holdings. Once lie
this cOnceit find fruition, as onl,
leadership and concerted action i
needed to assure, and at least on,
grasping monopoly now gnawing L
the vitals Of the country would see tn,
handwriting upon the wall. RICH
gladly would it sell out at a just val
uatiOn, rather than suffer destruction
through the loss of that patronag
which its powerful successor woult
receive from the very start. The con
victiOn is deep within US that tn,
scheme herein proposed, or on,
drawn on similar lines, offers q feast
bic solution to the appalling problem
in question. If, happily, some promi
ncnt citizen of our monopoly-cursct
country should take upon himself II
espouse the public good, and cham
pion the cause which, In our veal
way, we have vcntured to dwell upon
"A grateful country will rise up ant
call him blessed.
Pharr claims to be have been elected
governor of Louisiana. The indjca
tions are that much trouble is in stor,
for the Pelican State before the Ques
tiOn is finally settled.