The Caucasian. (Clinton, N.C.) 188?-1913, 1897-04-15
RUSSELL AND PlNGREE AND TWO
CENT FARES.

The CAUCASIAN is glad to note the
following news item:
In his inaugural address, Governor
Russell alluded to the high railroad
and telegraph rates, and recommended
their reduction. Now he is going to
ask the railroad commission to make
the rate cents instead of IA cents
mile for first class fare on all roads
whose gross earnings are $4,000 per
mile, and to make the telegraph rates
ID &c nts instead of % for 10 words.
The Farmers Alliance deserves the
credit for establishing the Railway
Commission in 1891. Among the many
important powers given to the Com
mission is one to fix reasonable pas
senger and freight rates. The Peo-
Piles Party has constantly and persist
emily urged a reduction of rates and
fares in addition to other important
transportation reforms. The Com
mission has not done its duty. There
fore, the Peoples Party members of
the last General Assembly pressed to
a vote a bill to reduce rates and stop
free rasses. But the bill was defeated
by majority of one in each House.
The Democrats and Republicans in
the legislature stood almost sOlidly
for the railroads and against the peo-
pie in their demands for justice and
equity.
We are glad to see that Governor
Russell will urge the Commission to
exercise the power placed in it and to
reduce railroad and telegraph tolls to
rate that is reasonable and Just
alike to the people and to the copper
atoms.
The railroads and all other monopo-
lies always contend that the high
rates charged is a reasonable rate on
the ground that they must charge
such rate to realize any profits. The
falsity of this claim was punctured
and laid bare last week in a mastery
argument before the Supreme Court
by Hon. W. J. Bryan. He was sus-
tainirg before the court law passed
by the Populist legislature of Ne
braska reducing the rate so as to al
| low the railroads to earn a reasonable
profit, not on watered stock, but on
| the actual value of the roads at this
time-that is, what it would cost now
to duplicate the road. He showed that
| if monopolies were allowed to initiate
their stock with as much "wind" or
"watered stock as they desired and
then were allowed to charge rates
high enough to make profit on such
fictitious capital, that then there would
be no limit to the charge that these
monopolies could extort from the
public. He argued that the roads
should be allowed to charge rates
based only on what it would now cost
to build the road. He maintained that
this was reasonable rate and that it
was the only way to do justice to the
shipper ard patrons of the road as
well as to the roads themselves. He
maintained that the stockholders of a
railway corporation had DO higher
equity than the patrons of the road.
The decision of the court in this i'm
portant case will be looked for v 18th
no little interest.
1t gives The CAUCASIAN pleasure, in
this connection. to also note that Gov
ernor Pingree, of Michigan, has been
making a determined fight in his State
| ro rsduce railroad rs<os 70 <~-o
per mile and also to reduce telegraph
and telephone rates. Besides, Pingree
has champiOned the. cause of good
government aud Justice and made q
square fight ali along the line against
the entertainments of the mOnopolies
on the pocket books ard liberties OF
the people.
When the long procession was pass.
, ing in review in front of the national
; capital just after the Inauguration a
, Mckinley the throng Of people or
either side stood in silence and looked
on. When the Governor Of Michigau
ss the head Of his staff passed . chez,
went mp from the vast throng: "Hur.
rah' for Pirgree and two cent fares.'
And this was the only cheer given t.
any na~ ri ne while distinguished
Procession
Ii l. noi &c -aoie hat III all thu s.,d
, parry Gcvtrnsrs the Two that ar. tsk-
Ing ise firm-ss aud must pronounced
! stand agaiIs the grasping greed and