The times. [volume] (Richmond, Va.) 1890-1903, 1898-11-02
WEDNESDAY NOVEMBER 2 lS's'
soNt,. RAILROAD VIEWS OF THE
TRAFFIC DECISION.

Nr Cbauncey VI. Depew, president o.
he ro,,t Traffic Association of raili Dads
that has just been pronounced un'""lu'
~. ,,a supreme court Of the un.tca
e,ates has given the newspapers state
men, Of his views Of the influence anu
a1e,, Of that decision. In The course
81 I. ne makes the following remarks
The greet error % the people VINO
teamed The Interstate commerce act i IL
supposins that fl preventing the ran
Gods from agreeing upon rates ana nav
ing a 200, hey were getting lower fd'eS
for the purpose OF preventing olsci I'M
nations Their legis' alton proceeoeo upon
the thought that there IS Du. one
fo- instance. between New On anu
Chicaco. whereas there are eight mes
s-nw =, "a nossiblefor a combination of
CAPITA 70 take the weak Nne ana snip
,.s nro6uct over that Inc upon on agree
r,en, much below ire current rates. The
weak line NAV be IN the hands OF a re-
ceiver an1 have ~ obligations 10 pay
either upon It's stock or upon It's BONDS
IN other words. upon the invested capi-
tal which built IT, The other lines can
not AFFORD 10 go into bankruptcy by foi-
lowing this rate and so they lei the
weake- Ire have this tiafAc. or they
conduct their own tra1lc upon regular
and reasonable rates.
The erect OF his Is very soon evident.
The rates which these big shippers get
over this barkrup, line enables them 70
rake their product so much cneai err
Than the p,op'e who are situated upon
the other lines or who send 10 ma ret
from o'har places than rho O. -m'nls or
he bankrupt Ire. sat they ir'vc u en-
out OF business. Then The anti 'r'st,
arti-corno-a non. anti-c )mhin .tiun reo-
Die - heir own device have created a
combination and a trust This process
has been going On ever since me in'er-
state commerce act ans he anti-pooling
provision were enforced II the process
continues the present rapid progress of
he consolidation ~ cvelv product into
tho hands ~ one concern OF Few men
VIII continue until both the producer
and the consumer In ire country will
rova fhoir prices fve9 by the comh'na-
ton IN nc various products OF the peo-
re
s'r' me eight ilres. however. were IN
position whore they could Trotec' one
arn.he~ qn4 The o1h.ic i~ g'v'n~ -00n''
ra'es and equal opportunities by al lines
,Non tho enterprise and onergl and nat
u-al facilities % Intermediate places
IN thai- busl.ess w''h the owners a.
tending ~ their own affairs would result
n wide distribution OF Independent
,ryiness IN The farmer finding many
competitors fc- the produce Of his farm.
and ne RAILWAYS having thousands of
ruStomers instead ~ = very few
These are sensible observations. We
have no doubt whatever that the inhibi-
ton upon thr roads 20 regulate their
charges by agreements among them
selves vill produce just such evils as
SIR Depew points out, and many others
also These agreements are natures
way % controlling competition. whereas
the prohibition OF tAen b. acts OF Con-
gress are the cruise methods Of men who
are far from understanding the subject,
ana who, therefore. produce nothing but
mischief IN attempting 10 Interrupt the
course of natural law
This decision OF the Supreme Court IS
most disastrous 10 the railroads, hut the
way IN witch their managers have ac-
cortsd = furnishes most Instructive
example 10 re people al large. they
havs universally resolved 10 obey Il in
spirit as well as In letter, however II
nhy irjure them and IN coming 20 that
resolution they nave Fiven just reouke
10 the Ti'lmans and Aitgelds Of the new
Democracy who clamor COR the abolition
or radical change OF the supreme Court
when II makes a decision that does not
conform to their Will notions OF political
economy.
There has been nothing hner IN long
time tnan the comments OF ono Of the
railroad presidents OF New York when
the courts decision was made hat tt
may be unfortunate for the railroads.
bnt that the important thing Tor the
peorle Of tho United States was that The
reverence Of the people for their SUI
premo Court should he preserved unlm-
paired That is the spirit IA which such
events should be received. We can work
through a disastrous decision OF the SUI
preme Court an1 find ways 10 set along
with our business IN spite OF It. But VIC
can never repair the injury done when
our people are seduced into thinking
thar the sisAAsstv Ct the laws should DO