The times. [volume] (Richmond, Va.) 1890-1903, 1897-02-21
ON AMERICAN RAILWAYS
INTERESfITG STATEMENT ~ Mr.
KOBEKJ \. PORTIR,
A Table Showing That Rates Are Being
Steadily Ecduced-Nery Low when
Compared with Foreign Countries.

The latest general balance sheet Of the
railways of the United States gives us
q total valuation Of railway property close
10 twelve thousand million dollars. and
over ono hundred and eighty thousand
miles Of road.
Next 10 our farms, which aggregate
thirteen millions. these great properties
Will form, at The close of the century. tnc
most valuable assets of the Republic. The
capital invested ln our manufacture is
Jess than haif that invested in railways.
and yet the condition of our manufac-
turoa. II we may judge from the frequent
tariff aeitatiOn. seems 10 command much
more public attention.
Tho construction OF these great systems
! Of transportation has played an impor-
tant, if not the most important part. i'm
| the progress of tho Nation during the last
half century.
by the extension of these railways pop
ulation has been distributed. nrge areas
OF country have been opened 10 cultiva-
tion cities built. manufactures establish
cd. mines developed, foroign trade i'm
| creased. and tho varied products of our
vast domain brought from tropical and
! frigid zones to tho temperate region OF
denscst population. ln short. the laying
Of the track. and the penetration OF the
! locomotive have kept time with the build
ing OF the Nation itself
Within the last few weeks tho Ways
/ and Means Committee of Congress have
| granted hearings az Washington to those
| representing our several Industries.
In reading the published testimony, one
| is struck with tho dcplorable accounts
given OF the condition of many branches
/ Of manufacture. LOW tariff and cheap
| FOREIGN labor have played havoc with
American labor anc production.
This is undoubtedly true. And the REM
cdy asked for Is increased protection.
4 duty sufficient 90 enable tho American
manufacturer to ra. living wage and
compete NIin his foreign rivals. While
not occriN.hr lrc psb.r % ifd 20 any-
thing like the extent Of the manufac-
turer tle American railroad is in ass bad,
if not in worse plight
lf Congress would only extend fits hear
incs TO railways. tho stories of the recent
tariff hearings could Doc repeated with om-
phasis ON larger and even more im-
prcssiVc scale.
Loss of earnings reduction of rates be-
low the paying point. actual loss ON pas
scnger traffic. deterioration or roadbcd.
reduction i'm the number OF employees. oth-
ers working half-time. rcccivcrships. fore
closure sales practically half of this on0r-
tho blight of insolvency steadily settling
down upon our entire system
The losses and disasters arising from
these conditions have been wide
spread and flr-reaching Tn tia
first place. So is undoubtedly true
that in no other industry is 50
lalre business carried on upon
so small banking account.
a railway company is % great dlstrlbu-
tor. not only of passengers ana freight.
but Of money AS Ease ass ils earnings
come in. they 80 ont again. First we
have the army Of direct employee. which
reached nearly eight hundred and sevcn-
ty-hve thousand few years ago. but
which has been re ducei fully ono hum
dred thousand.
With continued prosperity our railway
system would have to-day furnished oi-
.cct employment to at least one million
employees. This. however, gives but an
imperfect idea of the number employed
Edircctiy that is in car shops and loco
motive works. and equipment shops Of
al kinds: blast furnaces rail mills. and
a myriad industries dependent upon the
railways for their prosperity Ass the
percentage Of increase in equipment has
been reduced from ten per cent in 1850
90 am actual decrease iu 1885, it may Doe
safely assumed that thousands indirectly
oneaeed have been thrown out of cm-
pl0yment.
s. perusal of the statistics OF railways
1e compiled by the United States Govern
rent shows couciusively that under cx-
sting conditions most of our RAILWAYS are
uuning behind and the few that are ap-
plrentiy holding their own are far from
hopeful for the future. Economical man-
asement is one thing but forced ocono-
mics can only result in a. deterioration Of
the property.
For few years some OF our older rail-
ways can thus economic. lut 70 is only
hy continued and liberal expenditure Of
money. that track ro1l-bed. bridges
equipment and rolling stock can be Kept
up-tO-late and in good running order
Tho loss TO labor bias been enormous
ana DO is important that railway employees
Of all grades should study this side OF
tle question With freight and passon-
ger rates less than those ar European
coWtr where labor is paid about half
tho American rates. how long win our
railways be able 10 tide along with Tee
duced forces and thrce-Quartor timer
Unless the decline in receipts b. stop
ped. wages must Doe reduced. and then |
the trouble viii begin. Talking an army
of two hundred thousand mon out OF |
active employment iu one occupation is |
pretty serious business.
That means an annual loss in wages |
alone OF not less than S51e1o0o. Here |
we have tho direct loss. The indirect |
loss comes ,rom irreparahle INJURY 90 the /
properties hr reason ~ not keeping them |
up. ultimately cntailns additional losses |
The reduction OF rates between l,D and |
1895 represents loss of revenue of over |
$780, 0ltWl-sl3.10 in passenger traffic |