The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1896-09-02
NR. BRYAN ON RAILROAD RATES.
Speaks Falsely When He Says They
Have Not Been Reduced.

Baltimore Sun.
OF the many remarkable statements of
York speech the most remarkable was the
following: Railroad rates have not yet
been reduced to keep pace with failing
prices" The fact is that railroad rates
have fallen more than the prices of most
commodities, and is largely the cause OF
inquiries show that the fall in the price of
grain, for Example has been great at New
York and Liverpool since 1860. but has not
been considerable in the Northwest, where
it was grown. The reduced cost of trans
portation accounts very largely for the re-
duced price of grain in the great markets
of the world.
This is shown in a statement forwarded
TO Mr.. Bryan for his information by Mr..
+. b. Thurber, chairman of the New York
merchants committee on railroad trans
average charge Iof carrying a ton q
freight one mile on thirteen of the most
during 1865 was 3.08 cents. In 1870 this
charge had fallen TO Isl cents per ton per
mile; in 1875 to 1.S6. cents; 1885 to eighty
three hundredths of one cent, and in 1885
to seventy-sixths hundredths of one cent,
TIL fall since 1870 has been much more
than one-half, and exceeds the fail in the
price of most articles of merchandise.
In the twelve years ended June 30, 1894.
the railroads of the United States did work
equivalent to the carriage of 1856, 799, 677 $50
persons and S07, 49,. 3S2, S3S tons of freight one
mile, and had the rates of 1882 been col
lected the receipts would have been 50, 629,
043. 459 more than they were. The disasters
encountered by the holders of railroad in
VeSII1entS III recent years nave DSSn vast
in amount. During the year ended June
30. 1894" says MI, Thurber. railroad stock
having par value of 50, $50, 1901 94, or 63h per
cent. of the total, received no dividend.
During the three years ended Dec. 81. 1894,
OTIS miles of road. capitalized at $494, S2l .0oO,
were sold under foreclosure. From Jan.
to July 1, 1895. these totals were increased
by 2'o49 miles. capitalized at slf9,6 l5.QOO
each r of eetnieers w shd ve Tent sold lht1 nnd dee
foreclosure"
The losses from competition, reduced
- a-l duo M mi ~ c,e - ny u yn IN
smount with the loss of the farming inter-
est. Since 1893 nearly one-fourth of the
mileage of the United States has gone into
the hands of receivers. The roads are still
operated for the convenience of the public.
but their owners get small returns-or none
at all-and have seen great part of their
capital swept practically out of existence
by congratulations. The decline of income
caused the number of men employed on the
railroads to fall in one year 1888 from
S74. 900 tc $50, 900. AT the same time wages
and salaries were reduced in all branches
of the railroad service, thus affecting the
means of living of millions. Other mil
lions, concerned in the industries dependent
on the railroads. have been similarly af-
fected.
The statistics of diminished returns to
inventors, financial disaster and insolvency,
published by the Interstate Commerce Com
missicn, Indicate clearly that the present
railroad charges but little exceed the cost
of the service rendered, to say nothing of a
Rates are no longer high, and d~iscrimina-
ton is the only railroad evil of which any
complaint is made. 1t is not desirable in
the public interest to reduce all railroad
corporations to hopeless bankruptcy. Mr..
Bryan holds views which are characterized
I'm many quarters as revolutionary, but he
hardly desires to disseminate erroneous
views as to present railroad rates. "A pro-
gressive reduction from sos cents per ton
mile in 1865 to three-fourths of one cent per
ton mile in 1895 is certainly greater" Mr..
Thurber concludes. than the reduction in
most other commodities and ought, it is
held, to entitle the railroads to Mr.. Bryan's
sympathy.