The record-union., 1897-10-13


What guaranty have they that the man
who walks the track, the driver who sits
in the cab, the train dispatcher a hun
dred miles away, at whose telegraph1c
command the train proceeds or waits,
VIII each be prompt, intelligent and
faithful, for upon each and all of these
life depends? This guaranty they have.
1t is this, this only: The guaranty of
self-interest which enforces the exer-
else of all these qualities upon every
man from the President of the great
corporation down to the man who sup
plies oil 10 the boxes where the axles
run. Faithful and efficient service is
the fundamental condition of success to
the associated capital embodied in the
road
The same law operates with manda-
tory power upon associated capital in
all forms of industrial action, whether
the association be small or great. Capt.
tai must do service or it dies. The new
and unfamiliar forms in which we see
it co-ordinated alarm us. We see its
power; we forgot the law of its life.
And yet, it is held out to us that CAPT
tai is tErannical and oppressive, thai
it ought TO be feared, restrained, legis-
lated against. The contrary is the
truth Capital is tinlid. 1t has passed
into an adage that there is only one
bigger coward than 81 900, 600, and that
is twice as big a coward, namely, 81
0O0,000 Do we need evidence of this
fact? The history of the last four years
is sufficient. Intimidated by the men
ace of a change in the standard by
which capital is expressed and counted,
il sought safety in retreat and hiding.
Reassured in the present, it now seeks
every avenue for safe and profitable
employment. But it is affirmed that II
capital itself is innocuous. or even if it
be desirable. it is dangerous to the
State for any considerable portion OF
it to fall under the control Of one man.
What may be regarded as a dangerous
portion is measured by varying stan
dards. The man with one thousand or
ten thousand, honestly acquired, feels
a comfortable assurance that he is
useful member of the State, and we all
agree with him He himself regards
fifty thousand or a hundred thousand
as not incompatible with righteousness,
but five hundred thousand he suspects.
and at a million he draws the line, and
by a general concensus of opinion we
have come to distrust if not to hate,
the millionaire Well, if they are
worthy to be feared, their number is
not appalling.
'In 1892, with a newspaper relish for
something new in the way of informa-
ton for the people, the New York
Tribune" instituted a careful canvass
over the whole country to ascertain the
number of 'millionaires.' It discovered
a total Of 4,047 such persons, but made
this comment in relation to its work:
Some of the men reported a year ago,
when this investigation began, as worth
a million, have died since then. and
their estates have been found far below
the million mark It is hard, therefore,
to say who is actually worth million
But believe that if instead of the pal
try number of 4.047 alleged million
aires, they had found 40 600 actual
millionaires the fact would have been
indicative, not of a concentration OF
wealth into relatively fewer hands, but
would have been indicative Of an enor-
nous advance in general wealth, to the
total of which the millions brought in
to sight would have constituted but a
moderate percentage.
Let US consider the path by which
these large possessors of wealth reach
their much envied, if much hated posi-
ton. I shall bring IN {, few Illustrations
drawn only from those who have
worthily won their large estate. They
may throw light ON the theme. They
will certainly refute the statement
made by a Kansas orator who recently
Il. ir1N III
in a long lifetime, unless he does it by
robbery
About the year 1770 Arkwright &
Hargreaves invented machinery for
spinning cotton Within a period of
twenty-five years the product of the
spindle in Great Britain had increased
from about 4, 100000 pounds per annum
to 37,000,O00 pounds The number of
persons engaged in that occupation had
doubled, the annual output had been
multiplied by eight, the cost of spinning
per pound had diminished more than
four-f1fths, while the earnings OF oper-
ators for the same number of hours had
substantially increased. 1t is impossible
to measure the value to society of these
men, nor can any money reward be
named which woud have been an over
payment for their services.
In the last century a Mr. Blackwell
discovered a method of improving the
breeds of cattle and sheep which 50 i'm
proved the culture of these animals
that in a period of fifty years the
weight of the fatted OK was raised
from 400 pounds to / 200 pounds, while
the fleece of the sheep was increased
fourfold
within the personal recollection of
many here present Bessemer introduced
a process of making steel which re-
duced the cost of that article from $500
ton to $50 per ton in a brief period of
time. Reesemer received $1,000, 600 in
royalties. but it is estimated that with
in a period of forty years he saved the
world the enormous sum of 500. 900, :
GOO. Vanderbilt rose from poverty and
died leaving to his heirs railroad secur-
tiles and other property to the value
100000 COO He drew it not from the
previously accumulated product of toll
and industry then resting in the hands
of the people. 1t was his well-earned
portion of economical savings in trans
portatien inaugurated by his superior
genius. energy and courage. the much
larger share of which Injured to the
people
Consider this: BY improvements in
construction and mana cement the
freight rates of the New York Central
Railroad have declined within a period
of thirty years from an average of 3lla
| cents per ton per mile to an average OF
| less than three -fourths of l cent per ton
per mile 1t has been estimated that if
the freight rates of thirty years ago
were now current the producers and
l ..or,c41,,oar,S Of tha United States wcllld