Essex County herald. [volume] (Guildhall, Vt.) 1873-1964, 1897-03-19
AMERICAN RAILWAYS.
Some Facts aud Figures About Their
Condition and Future Prospects.

Some Facts aud Figures About Their
Condition and Future Prospects.
Tho latest general balance sheet OF the
railways ot,hs United States, writes RooerP.
Porter, gives US total valuation OF railway
property close to twelve thousand millions
Dt collars, and over one hundred and eighty
thousand miles of road. Next TO our farms,
which agcrega = thirteen thousand millions,
these great properties will form, nt the close
Of the century. the most valuable assets OF
the Republic. The capital Invested in our
manufactures is less than half that invested
in railways. and vet the condition OF our
manufactures IL we may Judge from the
frequent tariff az ,tatioL. seems 10 command
much more public attention. The con-truc-
tion Of thesn great systems OF tr 'nsportt-
ian, has played an important. ii not the
most important part, in the progress OF the
Nation during the Inst half century. BY
tho extension OF these railways, population
has been distributed, large areas Of country
have been opened TO cultivation, cities
built manufactures established. mines de-
veIoped foreign trade increased, and the
varied products OF our vast domain brought
from tropical and frlgid zones to the tenn
perate region of densest population. In
short. the laving of the track, and the pene-
tratiOn of the locomotive have kept time
with the building OF the Nation itself.
railway company is great distributor.
not only OF passengers and freight, but OF
money. As fast as its earning come in, they
20 out AGAIN. First, We have the army OF
direct employees, which reached nearly eight
hundred and seventy-fve thousand few
years ago. but which has been reduced fully
one hundred thousand With continued
prosperity. our railway system would have
to-day furnished direct employ neDt TO Mt
least one million employees. This, however,
gives but an imperfect idea OF the number
employed indirectly, that is. N car shops and
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
Ct increase in equipment has been reduced
from ten per cent. In 1890, to an actual de-
crease in 1895, it may be safely assumed that
thousands indirectly engaged have been
thrown out OF employment. perusal Of
the statistics Of railways as compiled by the
United States Government shows conclu-
sively that under existing conditions most
OF our railways are running behind and the
few that are apparently holding their own
are far from hopeful for tho future.
Economical management is one thing,
but forced economics can only result
in a deterioration CT the property.
With freight and passenger rates less
than those of Europeln countries, where
labor is paid about half the American rates.
along with reduced forces aud threp-quGrter
timer Unless the decline iu receipts ia
stopped, wages must be reduced, and then
the trouble Will beg u. Taking an army OF
two hundred THOUSAND men out OF active
employment in ona occupation is pretty
eerious business. That means an annual loss
In wages alone of not less than $780, 0,J00.
Here we have the direct loss. The indirect
loss comes from the irreparsble injury to the
properties by reason OF not keeping them up,
ultimately ent ailing nd titional Losses. The
re iuct on Of rates between 1880 and 1898
represents loss OF revenue of over $780,.
90. .0O0-s15. 500, 900 in passenger traffl: and
sS7, 900, 0U0 in freight traffic. OF course this
sum was remitted to the people Of the United
States. but the question is, can he people NJ
ford to force an inlustryi in which nearly one
fifth or twenty per cent. OF the total wealth
Of the country is invested to point where
nearly half the stock aud bonds pay nothing
in dividend and interest, and the curront ex-
pens must be reduce below the safety
point' This is the problem the people will
soon have to face In relation to our railways.
The people OF the United States, including
The million who should be directly engaged
in transportation, the shippers ami manutac-
turers. might as we'll realize now as when
destruction has Sc. IN, that our railway sys-
ten cannot lose another $3.50, 900, 900 OF IN
come in ten years-an average OF SIS, ,OOO, 900
per annum-vhhout sweeping down with 1t
the very interests which sdstain these roads
The fact Is, another twist or so In the down
ward direction will simply Kill the goose that
lays the golden eggs. When the revenues Of
railways are insufficient 10 keep up the pro.
pcrties TO pay the legitimate interest, to give
even Il small return on the stock, to pay
American wages to the employees, to give en-.
poyment to en increasing number OF peo.
pie instead or to IL lesser number,
allied industries must lnnguish. Aud the
industries dependent upon railways nre
numerous and take wide range.
The loss OF one hunIred millions OF dollars
income in five years must have been stag
gering blow. A continuation Of this sort OF
thing would simply destroy much of our
wealth aud arrest the progress OF the Repub-
l'c 1t is important that the people OF the
United States should realize this situation.
The facts hero!u brought out should be borne
In Inlud in any discussion OF the railway
prob 'em, whether for the purpose OF State
legislation, for the modification OF our inter-
state commerce act. or for the purpose OF
giving additional employment and more
steady wages TO tho million that should be
directly employed by our railway system,
and to the additional hundreds OF thou
sands who, under normal conditions, should
be kept busy in the allied industries. To
ignore these factg will work n great injury
and place additional obstacles in the way Of
aIeturn tc prosperity.