The daily morning Astorian. [volume] (Astoria, Oregon) 1883-1899, 1897-04-14
RAILROADS AND THE PEoPLE

y grave crisis is nov befor, the
American people. The rccent decision
of the five members ot the United
States Supreme Court preaal,'d by Jus
tice Pecklam In the trans Missouri
rate case declaring tha, uNder The
sherman antitrust law agreements
between railroads to maintain stable
rates are negal. is a blow at every
business man and c,,iHsn OF the oaun.
cry Rates for transportation enter
into tbs COS, OF every ar,icle con-
sumed by the people, and the sudden
luctu@suS IN rates causes tremen-
ious losses 70 merchants aud brings
hardship upon consumers. justices
White, Field, Gray and Shir,s, real
iElng the tremendous effects " such
a ruling upon the business ~ the
country. also that there is vast az
ference between an agreement to
maintain stable and reasonable rates.
and a trust oomhina.cidn to CCsltrO, trade
dissented from the opinion Of the ma
iority of the court. They knew. also.
that congress had specifically refused
to add an amendment to the trust
law, when 81 was passed. % include
railroad rate Associations under its
terms and that no such intsrpreta-
;ion was given by oongress to the bill
as passed. The New York Herald
we'll says:
Railway managers declared that
the only way TO secure stability was
by having all the competing lines in
a given territory work in harmony
in other words. by forming pools. But
the Interstate ao. prevented this. A.
ter experience under the working 4
this law some Of its original advocates
advised the repeal Of the anti-polliug
clause. Many merchants and CONNER I.
cial organizations favored this, and a
bill 20 secure the repeal was intro
duced in congress and passed the .
house a year ago. but failed in the .
senate. Meanwhile, the roads. many
of them banlrupted or impoverished
and tired of cutting one another's
threats, srrove to reach some basis of (
agreement. In the summer Of 1895.
when their great meeting was held in
this city. grain was being carried .
from the Mississippi river to the sea
board for ten cents a hundred weight.
At that time the mileage Of an en-
pire was in the hands Of receivers.
bondholders were foreclosing, and
stockholders, instead Of getting d.vid-
ends, were contributing heavy assess
ments TO put the companies on their
fest. The extent to which all this was
caused by inflated capitalization and
dLshoaasi, management 1t is aside from
our present purpose to discuss. 1t Is
sufficient to say thar the prevailing
rates were not only ruinous 10 mil
lions Of investors. but by their uncer-
tainty and constant variations demor-
alizing to trade"
The Supreme Court decision is a Sc
we're blow 10 the railroads which have
built up the country, and which are
now only just recovering from the
panic Of S3; while it also will defeat
the very objects of the interstate
commerce law, Itself an abortion. OF
the railroads Of the country, in three
years $4,000 miles-s3, 900 900, 900 capital
were sold under foreclosure, and 70 ?
par cent Of the stock Of railways to- ,
day pays no dividends. The inter St
Of the railroads are identical with
those Of the people. Both demand SOL
vent roads and stable ra.es. Sc, for {
example, how unrestricted and ungov-
erned competition affects Astoria, a
small town on the Pacific coast Let
a railroad rate war. break out-ths
..-.chaat "1l5 buys gods .oday can
BE- undersold by his nelghbcr tomor-
row, who secured a better rate The
salmpn packer has a large part of 4
The cost Of his goods in tin plate He
)uys a large quantity and tomorrow
he rates go down and his competitor ,
makes great saving in the cost Of e
'aw material, which enables him 10 q
'educe the price Of salmon on the
market. 50 the war goes on, reaching
he very web and woof Of life.
What Is the remedy for all this q
rouble, which now threatens the de- a
1truction Of 100000 miles Of railroad
property, millions in investments, and
ne prosperity Of the whole country? n
70 be sure, it can be said that no n
ate war can take place unless ordered ,
y the presidents and officers Of the =
ailrOads; but rates are not, even now, q,
n as equitable basis as they should g
e as between companies, and with no a
influence or agreement to
egulate and adjust rates in common :,
srrftOry, first one weak sister and h
len another gives way to pressure, d