The news & observer. [volume] (Raleigh, N.C.) 1894-current, 1896-02-05

the Caucasian says the Saaea9 ~ 9e ~ =
that the purpose Of that the currency
this combine is to put has been CONTRACTED ted
up % rltos k fo up cue 0f doliars. desnite
transportation, and the fact that hun
it viii take the last dreds OF failures
t tbmt' oAoept soe one aa LIZ ftai elr al
Queer from abiect through the year:
poverty or starva- despite the fact that
.!rba railroa'd P PIN FOR a HTofitabIe
were doing a more market for their pro-
prospeross business ance' the cry ma. mas
tor of Commerce he. prosperitv is return :,
fore this deal was ing These
made ma the report OF are are matters wnled
Mission proves tbis, watch and then let
That report shows the people combine
an increase e. t OF S5i = AGAINST imeSe Cos
net earnings of ali stroying and heat
railroads, in 1898 as G HI ling combines
ooa,.oa net ea,1,ines anu 'oi
for 1894
That the Caucasian ..nossessrs an
exhaustless reservoir of misinforma-
ton. from which there flows a weekly
stream of instrumentation has long
been evident. The item from the In
ter-State Commissions report was
seized put on the rack and made to
convey the impression that in the
midst of trade depression the railroads
were epioyino nrosnerous conditions
and contemplating an increase of their
already anorrnoue nrofits nv methods
OF extortion. IT is wen known TO those
who know ANYTHING about tbese cor
porations that the rates for transpor-
tation have steadily declined for a
number Of wears. ON a welLeouipDed
and economically MANAGED road nor q
hundred miles from Raleigh. in 1885.
the nrofit ne- nassenge, per mile was
~ cents in ten wears il has decreased
more than one half. the Drofit per ton
per mile for freight i'm 1885 was 3 mills
and the shrinkare to date is very
nearly the same as that in the passen-
ger earnings.
II then necassarit, follows that the
moi oain of S31 uer mile There being
no increase in TRANSFORMATION rates1
must have come from the roads carry
ing a greater tonnage: greater tonnage
can come only by greater activity
among SINNERS: shiDpers being farm
ers manufacturers. merchants and the
like. must therefore have participated
pronortionately with the railroads in
the increased nrosDeI-ity of the latter.
since they furnished the additional
tonnage from which was earned the
S31 net per mile.
In regard to the extract taken from
the January End edition of the eau
casian. there is n false statement about
contraction i'm the first sentence. The
domestic production of gold for 21s
wears to January 1st, 1896, has exceed
ed the net export Of that metal by a
sum rising five millions. no contraction
here surely. Against the contraction
ON account of sales of bonds. must be
placed increased circulation of ma
tiopaI bank notes. the pavment of ma
turing pacific railway bonds and the
shortaoe of revenue causing the gov
eminent to nav out part of the pro
ceeds of the sales to meet running OK
penses. so that instead of sixty mill
lions Of contraction there has been be-
tween July 1st. 1899. and the present
time an actual imitation of several
hundred thousand dollars. Considered
tooether these two extracts show the
faciIa non Of the ponnIist editor who
;e ,.as,,rn,,sil,Ie for them IN have been
dinned IN oau and his ntterapces TO be