The gold leaf., 1898-02-10

the commodity will bear it, and this
is as intelligent an explanation as
can be made. In like manner a rate
sheet, submitted to hundred men Of
admitted judgment and knowledge
on questions of transportation, and
no two of them will be found in agree
ment in criticism or proposed amend
ment.
"lt IS easy to say that rates should
be just and reasonable, and only
enough in the aggregate to issue earn
lngs sufficient to meet cost of opera
ton ard maintenance, and a given
rate of interest on the cost of the road
and its equipment, but where is the
man with wisdom to make such a rate
sheet9 TO do it, he must be possessed
with prophetic vision which can look
into the future and determine quantities
of all commodities to be offered for
transportation, for it requires the sum
of quantity before rate can be made
to realize any given sum of money.
The contingencies of, operation for
carriage are such that for any man to
assume TO provide for one with the
other by fixed rates, which shall leave
neither surplus nor deficit, is to impeach
his own intelligence or sanity"
| think it will be conceded by all
persons of intelligence that in no State
of this Union can passengers be trans
ported at say one cent mile, | mean
as regular rate, and yet conditions
may, some time in the future, make
such a rate reasonable, but the only
condition which can make it possible
with steam as motive power, and
other expenses for maintenance, as
now will be when the population has
increased many times its present num-
bers.
Passenger business may produce a
! profit, when taken at one cent per
mile, in very large numbers, as is the
case when special excursions are run,
for some great or popular event, and,
if | mistake not, the first rate of its
kind was made for North Carolina at
the time of the dedication of the
Soldiers Monument, at Raleigh, and
first named by the Seaboard Air Line,
at the urgent request Of the lady's
committee in charge. The sesult was
gratifying to your city and favorable
to our, and undoubtedly other com
panies, and it helped to swell the
general receipts and add to the years
results, but such occasions are fraught
with anxiety, for an accident al such a
ltime-sOmetimes unavoidable-wo would
take, in its final settlement, perhaps
the total earning Of the company for
days, and, possibly months. Rail
roads in North Carolina are by no
means completed railroads; in fact,
there are few, if any, in this country
that may be said to be complete.
Those in your State are far from it-a
perfect and complete railroad would
comprehend for safety, comfort and
speed, a double track, a we'll ballasted
roadway for its entire length, steel
bridges, reduction Of grades, the
elimination OF dangerous curves, the
filling of trestles where possible, com
Portable depots for the accommoda
ton of passengers, etc, etc., but the
present population hardly admits Of
the thought, for it barely meets in
revenue received the necessities, with
out serious thought of the luxuries.
Some persons conceive the idea, which
is erroneous, that because 1000 miles
tickets are sold al the rate Of two cents
per mile the same rate can be made
for all. This rate is for non transfera
bic ticket, lis a whole sale rate, and
open to all. 1t was made on the
same basis that a merchant would
make less rate for the sale of I, 900
barrels of -four for cash than he would
for 100; in fact, the same principle
governs largely, or should govern, IN
the management of railroads and in
the making of just and reasonable
rates that pertain with legitimate and
properly conducted mercantile or
commercial houses No business is
more subject to times of depression,
resulting from unfavorable crops,
storms, accidents, ETC., ETC., and the
reduction in rates ordered today under
seemingly favorable circumstances,
may sweep corporation into bank
ruptcy tomorrow, when the conditions
are unfavorable.
Now, i, is generally known, think,
that rates ordered by Legislative en-
actment and by Railroad Commis-
sions are not always obtainable. The
long line must meet the rates of the
short line if it would secure that por-
ton Of the business to which i, is en-
titled, and this reduces in a measure
the rate per mile. In many Western
States the laws classify railroads, for
passenger rate purposes, according TO
their passenger earnings per mile, and
when this classification is based upon
reason, 1t undoubtedly is the most
equitable basis to be found.
The average rate per mile per pas
senger received by all roads in the
United States, for the year ending
June 50, 1896, was o2oI9,-I,ooo
cent, and the average revenue received
by railroads operated by the Seaboard
Air Line, in North Carolina, for the
same year, ending June 50, 1896, was,
per passenger, as follows:
Seaboard & Roanoke, O1-752-1 ,OOOc
Raleigh & CASTOR, O1-9l5- ,OOOc