The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1902-11-25
THE LoNG-AwAITEp BENEFACToR.

few years ago the low prices of the
products of the farm were generally de-
plored and general desire was expressed
that the prices of such merchandise might
be advanced. The advance came after the
millions of half employed people began to
find employment late in 1897 and in 1898.
The advance was generally regarded with
much favor, the assumption seeming to be
that it would not cost anybody anything.
When the prices of cattle and beef had ad-
vanced Is and later so per cent. those who
had congratulated the farmer on his good
luck began to find that the prices of
meats. poultry and butter were higher Gu
in the retail prices to the better prices
which the farmer was receiving, but
charged 1T upon greedy trusts.
During the past four years wages have
been advancing. Every announcement was
hailed as a general blessing. 1t never &C.
source from which increased wages would
be paid. but ii was assumed that the pay
ment was made from the increased profits
of manufacturers, and was. therefore, a sort
of forced contribution to wage earners and
the public that sold them goods. None
seemed to think that prices would be ad-
vanced to meet the increased cost OF every
material in which labor is a large ele-
ment
A few days ago, when ii was announced
that the raiIroad companies had voted to
advance the wages of a million men, there
was widespread satisfaction. The increase
which the Pennsylvania system will pay
It's employees will be equivalent to a per
cent. dividend on its stock. For a few days
II was assumed that the railroad compa-
MES would pay this 100000 or more a
year out of their increased net earnings,
forgetting that the railroads have been ex-
pending hundreds of millions in improving
their lines and providing facilities to handle
the increased business. Few recalled the
fact that the dividends paid upon railroad
stock during the year 1900 amounted to
sli00o00O0 on capitalization of s. 800 600 600
that dividends are earned by not over a
third or a half of the railroad mileage
in the country. yet 1t generally as
| sumed that at least a third of the amount
of dividends paid oh stock should be de-
voted 10 increasing the compensation of a
million of employees. When the fact is re-
called that the COVER nment is now paying
only $31 100000 as interest on nearly bill
| lion dollars of bonds it should be easy to
| comprehend what an increase OF $4,000, OOC
| in railroad wages means.
Later, when IL was announced that the
railroad companies would advance the
rates for carrying freight. there was both
surprise and disgust. Many asked why the
raiload companies could not have done the
| generous thing by paying the s5o.Ooo.oco in
crease in wages out of their present rev.
enues as If they were holding back vast
amounts of money which they have been
accommodating or paying as dividends
| Doubtless the railroads are doing better
| than they were few years ago. They are
carrying vastly more merchandise, and are
| abandoning or have driven out the ruinous
practice of rate-cuttng and the unjust IA
voritism of granting rebates. But the corr
/ the increase of expenditures and of in
| creasing wages a pretext. II not a good rea-
/ son. for increasing the price OF transporta-
ton do lust what individuals always have