The Saint Paul globe. (St. Paul, Minn.) 1896-1905, 1905-03-07
S. $40 9S7 OO0



Totals .....sS.5S5 S5.3S2 2S7- 900
Let US analyze the foregoing marvellous
statements with judicial mind in our
search for justice. Further i'm drawing
conclusions we must average for long
period of time. because none will deny
that all history proves that periods of
prosperity follow periods of adversity.
one who quotes results from prosperous
conclusions, is an unsafe man to make
laws which govern our progress Alas,
100 many shallow conclusions are drawn
On that pasls then trouble ensues.
Queries to PROFOUND
First-f table 1 shows in 1908 that g.
500 millions of stock was outstanding. and
Jaole shows average dividends paid for
- years S Were. but per cent, two thirds.
ont and the one-third left, or 211S mil
lions. received but per cent interest
Inc interstate commerce commission re-
ports show that about go per cent of fine
struggling railroads in the United States
paid no dividends whatever in the past ten
years. 1t Is rare that feeder lines of pio-
lm6urse their owners for years after
building them.
Second-In table 2, columns s and 4 is
1t not clear that the trend of freight and
passenger rates has gradually declined i'm
the past p years? If one sees fit to go
farther back, statistics clearly show much
higher rates than in 1888
Third-Table shows that in q years
81 per cent of all the railroads in the
United States were placed in the hands
of receivers and about 81 per cent of the
whole were sold under foreclosure" of
mortgages. What an amazing revelation
to the average citizen.
Railroads Owned by the People
1t is popular idea that a few million
aires own the railroads of the United
States. Out upon such a preposterous
proposition! The facts are they are simply
the captains of industry whose guiding
genius manages these great corporations
for their real owners. who are numbered
by the millions and scattered from Maine
to California. Railroad bonds and stocks
are held by investors everywhere. In
Surance companies, both fire and life, saw
dredS of millions OF dollars of them and
they belong to the millions of depoSitoTS
and policy holders. Many railroad bonds
are held as trust funds for widows and
orphans. Crush these interests and you
crush the prosperity of the whole people.
Crush these interests and you jeopardiZe
the pay rolls of more than a million rail
road employees.
When the honest masses, who cannot
be expected to have at command full
knowledge on these complicated matters
are swept from their mooringS by the en-
ticing promise of relieving them from tax
eS or materially reducing freight charges
by throwing these burdens upon the rail
roads, in view of the foregoing facts, not
theories, is it not the duty of our states
men to calmly ponder what stupendous
results may follow any radical action in
this matter?
No honest man will object to legislation
rlghting wrongs of discrimination in
freight rates unjust rebates. special ia
VorltlSm to special car lines or other clear
~ defined wrongs. The railroads doubt
less will welcome legislation to kill off the
sandbaggers. But alas! the theorist is
the only man who has sure cure for
all evils. The practical business man
alone knows the difficulties in bringing
about the millennium. Nevertheless. evO-
luton on conservative lines, correcting
la lDahl evils ShOnI6 a welcomed nv
Revolutionary methods are generally ca
lamitouS in result.
Tile reePte.s t-te-est at etaIxe
None but a pessimistic malcontent can
deny that in this country greater prosper
ity abounds and labor is better housed.
clothed and fed than in any other country
on the globe. When we compare the cost
per mile of railroads in Europe with our,
to wit:
In the United States . $64 900 per mile
In all Europe ........... 100 900 per milo
In Germany ............. 100, 600 per mile
In France lac, 900 per milo
In Great Britain .......... 267. 900 per mile
When it is a well known fact that our
railroad rates. both for freight and pas
sengers. are less than those of Europe.
Notwithstanding lower prices for labor
there, and our systems are far superior in
general comforts. every American citizen
should feel just pride; when the fore
going tables clearly show small profits to
the stockholders in a risky enterprise.
constantly decreasing freight and passen-
ger rate-eXcept when prices of labor and
material are higher in certain yearS-not-
withstanding the cry to the contrary;
when all fair minded men must admit
that capital will not venture If haraSsed
by constant political interference and
without promise of fair rewards for the
risk involved; when the terrible object
lesson of 81 per cent of the railroads sold
under foreclosure in twenty-one years is
a matter of history; when material re-
duction of rates will bring bankruptcy to
the weaker roads, and only the strong will
survive, thus bringing in its train general
distress; when We consider that the rail-
roads do not run money factories. but
must get their income from the people for
services rendered to the people. with which
to pay labor, taxes, fixed charges and a
reasonable return to the owners; when
we consider that only those who make
money employ labor and thus multiply
prosperity, and that certain bankruptcy
and general adversely follow any losing
buSiness-hOw careful should our states
fecting such large interests should be
enacted into law!
A rate commission appointed by any po-
liticaI body. with absolute powers to fix
rates, not subject to revision by the
courts is simply monstrous. No other in
terest is denied this right When appeal
to the courts, which are as far removed
as possible from unstable politics. is de-
MED vested interests, then freedom and
justice will be banished and autocratio
government be enthroned in their stead.
In the final solution of this troublesome
problem. may vested rights be protected,
and may broader prosperity follow gener-
ally accepted sound solution of the rail-
way rate question: May reason reign!
rotary Taft was confronted with the ques-