The record-union., 1897-05-03

gerated and assume abnormal proper
tons
Any thinking man must see the fall
sity of the idea. Railways are as de-
pendent upon the people as the people
upon the railways. Damage to one is
injury to the other and good times for
one means good times for the other. If
this fact is recognized, and l believe it
will be, because right is bound to pre-
vail, you will see activity in railway
circles Moneyed men will invest
where they have some chance of get
ting their money back with fair rate
of interest. but this will not be so long
as their interests are endangered by
adverse legislation"
Every intelligent thinking man must
agree with Mr.. Nevins in his cOnclu-
sions. The interests of the large trans
portation corporations and those of the
people are identical. The railroads
and the aggregations of capital nee
essary to their construction and oper-
alton are the product of the civilization
and progress of the age. Both the. cor
poratiOns and the people sometimes
lose sight of their inter-dependence and
the results are disastrous to both No
community can hope to be prosperous
for any length Of time in this day and
generation without railroad and there
is no progressive community but seeks
connection with them. One of the
most unfortunate things for the gen
eral prosperity of the country is the
attempt to array the people and organ
lied capital. whether invested in rail
roads or other large enterprises, against
each other. It's tendency is to paral-
we business and block the wheels of
progress.
The large interests that capital has
invested, in railroads especially, that
can be materially affected by legisla-
ton and the administration of the
laws, have furnished the opportunity
for demagOgues and blackmailers,
frequently in newspaper Offices but
more frequently among office seekers,
to work upon the prejudices of the peo-
pie for the purpose of gaining popular
ty and position. There is not a sess-
ion of the Legislature al which cinch
bills and hostile legislation is not at
tempted for purposes of blackmail and
to gain popularity with the unthinking
public. Intelligent people know that
the result of this is general disaster
They know that the expenses incurred
to prevent hostile legislation have to be
paid out of corporation earnings, and
that, as a rule, corporations do not
NEEDLE with politics except for the
purposes of self-protection. Besides
that, hostility to railroads or other
forms of corporate investment, whether
in the shape of legislation or vexatious
administration of the laws. has de-
terrent effect upon the investment of
capital in other enterprises, and the
State or the community that unreason-
ingly follows the dictation of dema-
gogues and unprincipled blackmailers
is dropping to the rear in the procession
of progress The State or the commu-
nifty that is progressing to-day or that
hopes to progress in the future must
not only encourage the investment Of
capital but protect it after it is in
vested.
The powers and rights of corporations
should be as clearly defined as those of
an individual and like those of the in
dividual they should be as fully and
fairly protected. When that is done
the energy and money expended in
fighting and protecting corporate in
terests will be used for the general
good.