The progressive farmer. [volume] (Winston, N.C.) 1886-1904, 1897-07-20
roonoLupEp FRoM PAar 3 l

make more money asswell as more
friends by themselves voluntarily con.
ceding this reduction. These agitations
for two 90 cents fares, wherever they
have been begun have never ceased till
the demand has been granted. The
demand is so just and reasonable in it.
self that it could not be otherwise.
Ihave preferred the above methods,
which demonstrate clearly from your
own reports thatethe rates here are too
high to entering into a comparison
with rates elsewhere, which are so
various and sc numerous that conten-
ton could easily be raised On this col
lateral question by railroad advocates,
anxious to divert attention from the
real issue. That Interstate rates to
North Carolina are higher than either
to Virginia or South Carolina, was
clearly shown by two late conventions
of manufacturers at Greensboro and
Charlotte, and it is not to be supposed
that these corporations in their local
E6gCS h6NO bCOA y SOA04SNOAOSO "a q
people who have been SO ~forbearing
and patient under corporation imposi-
ton as those of this State have so long
been. But my own investigation has
been thorough and has satisfied me
that the railroad rates in this State,
everything considered, are the highest
on the continent.
I learn that the answer fled by the
Seaboard Air Line, when it was on
tending against an in junction brought
by a rival line) for tho privilege of re-
ducing their rates, set out this fact.
But, however, it may be as to the an
swer, I am confident as to the fact that
our rates are the highest. Wherever
the rates elsewhere approximate our
it will be found that they are in those
States where the railroads have almost
without disguise taken possession Of
the government,
1t is true that some States have more
people than this, but they have more
railroads, too.
ONLY TWELVE STATES
have as many people per mile of rail.
road as North Carolina.
The taxes paid by the railroads here
are admitted by that one Of the officials
of the lines in this State who is perhaps
best acquainted with the subject to be
the lowest paid by railroads in any of
the States. The property tex paid by
them here is not supplemented by any
tax on gross earnings, or stocks, as is
usual elsewhere.
I know that there is always the
threat that we will drive capital from
the State. That was threatened if the
6 per cent. law was passed, but to day
North Carolina As are at par and Raj
eigh 5 per cent. are So above par.
What we need is to keep our own cap
ital in the State and with $13, coo, 900
saved every six years, as above shown
could be done, we al build railroads
and get us a good school system upon
our own money. Foreign capital will
not come here because we are humbly
respectful and submissive to the own
ers Of it, but because 4 per cent. net
above taxes and all other charges is
more than can be had by investing in
United States 8 per cents
In conversation recently with a direc-
tor on one of these lines, though a North
Carolinian himself, he said: THE
truth is getting to be an old country.
Oar laborers must come down to E 1ro-
pean wages and our farmers must live
cheaper and be content with European
small profits. They cannot help them
Selves" That is the way in which the
banker owners of cur railroads, and ali
within their influence Iook-with per
feet c~omplaCency, too, upon the situa
ton. But if it is true that our farmers
must surely and steadily be
TURNED INTO pEAsANTRY
and tenant holders, and our Iaborers
into semi serfs, the net reduction should
be all round-top as we'll as bottom
and the capitalists who have $50, OOO..
600 invested in cur three systems should
take 2 per cent. net profits-for 2 per
cent. per year is the bank rate in Lon
don and Paris.
But 1 take it the railroad n
would now be perfectly satisfied with
the 4 per cent. net which the Wander
bilt roads in New York pay. They
Would not grumble at that. What
they strenuously object to is getting 4
per cent. only on their investment.
They would be satisfied with 4 per cent.
on the t26, 600, 600, but they want you
to go on and allow them 4 per cent. on
something which Vol and thew both