The Mankato free press. [volume] (Mankato, Blue Earth County, Minn.) 1879-1924, 1897-03-19

With the exception of 1894, passen-
ger rates reached their lowest in 1895,
while freight rates, save small rally
in 1892, are steadily coming down.
When compared with foreign coun-
tries, our rates are indeed low. 1t is
said that if the Pennsylvania railroad
company could secure the same rates
as the London and Northwestern COM
pany, the annual earnings would be
Increased $l2,000,000. Mr. George r..
Blanchard, in his recent testimony
before the the Interstate Commerce
committee of the Senate, said that
had our railways collected the lowest
of the European charges. we would
have received $780, 100000 more than
we did receive. This calculation was
based on the figures of 1892. The
figures of 1896, which are lower for the
United States, would make greater
differedce.
The impartial student of these data
must be struck with the necessity of
commercial as well as industrial re-
construction. The census report of
1880 and 1890 and the statistics of the
Interstate Commerce commission, all
of which are uniform, together with
the valuable reports Of I'll. V. Poor,
give us material on which to base a
thorough inquiry. The presidents
and other officers who have charge of
these great properties should be &C.
corded the same opportunity to be
heard as the manufacturing industies.
So far as can learn, there is no desire
on the part of railway managers to
generally raise rates. There is, how
ever, a widespread belief that rock
bottom prices have been reached, and
that anything, even the merest shade
lower, will be absolutely ruinous. The
people of the United States, including
the million who should be directly en-
gagged in transportation, the shippers
and manufacturers, might as we'll
realize now as when deStructio has
set in. that our railway system can
not lose another $3.50, 100000 of in
come in ten yearS-an average of SIS,
000 600 per annum- without sweep
ing down with it the very interests
which sustain these roads. The fact
is, another twist or so in the down
ward direction will simply kill the
goose that lays the golden eggs.
When the revenues of railways are in
sufficient to keep up the properties,
To pay the legitimate interest, to give
even small return on the stock, to
nay American wages to the employees,
to give employment to an increasing
number of people, instead of to a
lesser number, allied industries must
languish. And the industries depend
ent upon railways are numerous and
ak wide range.
The case against the railways is a
familiar one. Those who realize these
rev conditions have no excuses or
apologies for past mismanagement,
,Or for the methods by which some of
these roads were built. Whatever
ray he said of those who built rail-
ways far in advance of popu alton, or
or purposes other than legitimate
trade, we have, on the other hand.
qnally TO blame, the cities and towns
AID individuals who were ready to
mortgage the future to help along the
w.rk In large measure the wind
md the water and the fraud have
ven squeezed out of these properties
IN their place new and honestly &C
1uired capital in the shape OF enforced
nans from hondhOlders and forced as
ssment of stockholders has been in
vested. Foreclosures, the sheriff and
he courts have wiped out much of
ne Inflated values, and new capital
With reorganization for business has
followed. Surely no one will deny
that the consolidation add changes,