Spirit of the age. [volume] (Woodstock, Vt.) 1845-1913, 1897-03-13
An -,.SSa.', RA,t";r,T-.
Some Facts and Figures About Their
Condition and Eutura Prospcota.


me latest general balance sheet OF the
railways Of .he United States. writes RobsrtP.
fofter. gives MS q total valuation OF raj way
property ctoss to twelve thousand millions
OF COLLARS, and over one hundred and eighty
thousand miles OF road. Next to our farms.
which agHreSae thirteen thousand millions.
these great properties will form, Mt the close
OF ths century, the most valuable assets OF
the Republic. The capital invested In our
manufactures Is less than half that invested
In railways, AMI yet the condition OF our
manufactures. II we may judge from the
frequent tariff agitation, seems 10 comm and
much more public attention. The construc.
ton OF these great systems OF tr 'nsport,-
ton, has played an important. II not tho
most important part, In the progress OF the
Nation during the last half century. BY
tho extension OF these railways, population
has been distributed, large areas oicountry
have been opened to cultivation, cities
built, manufactures established. mines de-
velopei. foreign trade increased, and the
varied products OF our vast domain brought
from tropical and fright zones to the tom.
perate region OF densest population. In
short. the LAYING OF the track, and the pene.
Grafton OF the locomotive have kept time
with the building OF the Nation itself.
raj way company Is great dis ribuior.
nor only OF passengers and freight. but OF
money. As fast rs Its earning come in, they
go out a'ain. First, W. have the army OF
direct employees, which reached nearly eight
hundred and seventy.flvs tn ousaul n few
years ago. but which has been reiu ed fully
one hundred thousand. With continued
prosperity. our railway system would have
to-day furnishei direct emp oy nept to at
least one mil lion employees. This, however,
gives but an imperfect Flea OF tho number
employed indirectly, that is. IL Gar shops ana
locomotive works. and equipment shops OF
all kinds. blast furnaces, rail mills and Il
myriad industries dependent upon the rail-
ways for their prosperity. As the percentage
q increase In equipment has been reduced
from ten per cent In 1899, to nu actual de-
GREASE in 1895. 1t may bs safely assumed that
thousands indirectly engaged have been
thrown out OF employment A perusal Of
the statistics OF railways ~ compiled by the
United States Gov. rnnent shows con .lu-
sivey that under existing con litions most
OF our railways are running behind au the
few that are apparently hodin: their own
are far from hopeful for til, future
Economical management Is ono thing.
but forced e'onomics en- only result
In deterioration CT III, properly.
With freight uni passenger rates less
than thoss OF European countries, where
labor Is paid about half lho American rates.
how long Will our railways TO able TO tide
along with REDUCED forces and thre '.quartcr
time? Unless the decline in receipts Is
stopped, wages must b9 reduced, IN 1 then
tho trouble will leg II. fading an army OF
two hundred thonsanl men out OF a0iva
employment in onn occupation Is Il prs:ty
ser.ou, business That me ms an annual loss
Ia wages alone OF not less than $500 0,L0o.
Here we have tho direct loss. Tho indirect
loss comes from the irrsparabls injury to the
prop rites by reason OF not keeping them up,
ultimately en,aiiny ND iitiona! 'ses. This
re uct on Of ratio, between 1899 aud 1895
renr"o suts n loss OF revenue OF over $780,. |
nm ,,n.l
SS7 900, 600 in freight traffic. or course this
SUN was RENTED to the people Of the United
States, but the question Is, can The people af. |
lori to force AN INDUSTRY In which nearly one.
Il th or twenty psr cent. OF the total wealth |
Of tho country Is invested to q point where |
nearly half the stock and bonds pay nothing |
In dividend and lnterts', and the current OK.
pens must be reducs below tho safety
polnt7 This is the problem the people win |
soon have to face In relalonto our railways.
Ths people Of the United States. including
lhe million who should De directly engaged
turers, might ns we'll renllze now as when
destruction has set in, that our railway sys-
ten cannot lose another $4,000, 900 Of In
come In ten years-An average OF 316, 900, 900
per apnum-without sweeping down with 1t
the very interests which sustain those roads.
The fact is, another twist or so ln tho down.
war; 81 dr se will smRyy . goose tina;
railways are insufficient 10 keep up the pro.
perlles, TO pay the legitimate interest, to give
even u small return OH the stock, TO pay
American wages to the employees. to give en-.
ployment to an increasing number OF poo.
pie instend OF TO lesser number,
nllled industries must lungulsl. And the
industries dependent upon railways are
numerous anil tako willie range.
The loss OF onH hun ired millions Of dollars
income In five years must have been slug.
cering blow. A continuation Of this sort OF
Thing would simply destroy much OF our
wealth and arrest tho progress OF the Repub.
l'c. 1t Is important that the people OF the
United States should iea.iz, this situation.
The facts herein brought out should be borne
In mind In amy discussion OF the railway
problem, whether for the purpose OF State
Legislation, for the modification OF our inter.
state commerce net. or for the purpose OF
giving additional employment and more
steady wages to thu million that should BIO
directly employed by our railway system,
mil to the additional hundreds Of thou.
sands who, under normal conditions, should
DO KEEP. busy In tho nlliel Industries. 10
gnore these facts will work great injury
and place additional Obstacles in tho way OF
l rp. urn to DrOSperity,