The Topeka state journal. [volume] (Topeka, Kansas) 1892-1980, 1909-02-05

which did not require cash, or could
be done on credit
The unfortunate railroads were
again the first to suffer. Should
the blame be laid upon the people
for this? The fact is sure, that the
condition now under considera-
ton was brought about. has al
ready been said, in New York city by
the men who secured the corner on
the money of the country, and we
will call them bankers and brokers'. if
stockjobberS and gamblers seem too
severe terms.
I am much opposed to speculation
upon events; but, in this instance. we
ought to consider what would have
happened to the country, if financial
New York had succeeded in it's de-
signs. Every bank in the country
outside of New York would have been
broken; and all the money in the
country would have been found in
New York.
The owners of the railroads of the
country live in New York. Would
they have gotten any of this money?
If they had gotten their share, could
they not we'll have afforded to see the
country. including their railroads, in
distress?
Mr.. LOOMS says that our railroads
at $5S. $50 per mile are not overcapi-
talized. although he gives US an in
stance, where about eighty miles of
railroad We're practically given away
However this average capitalization
per mile may strike the man who does
not know, and who has no means of
knowing it will not do to tell it to one
who has ever been away from home.
Averages often hide real facts.
The comparison of the railroads of
the United States in capitalization with
those of Great Britain, Germany,
France and Belgium is altogether mis-
leading because no basis of COM
harrison either as to their physical con-
s-fr
traffic, or their earning capacity is
given.
The common starting point now of all
railway schemes. progresses by censur-
ing the people for all the misfortunes
and crimes of the railroads, makes
railway projectors and magnates the
object of the public gratitude; and ends
with Mr.. Hartman.
Give me a blue pencil. having the
power welded by the editor; and, by
very few lines. 1 can take the pay roll
of any of the great railway systems in
the United States, and in five minutes,
can save it at least five hundred thou
sand dollars a year. This is retrench-
ment at the rate of hundred thou
sand dollars a minute; and its erect
will be more far reaching than the
mere amount of money saved; 1t will
also eliminate from the railroads, and
from the business of the country, men,
and a. class of men, whose methods and
operations have always been, and
against the interests alike of the peo-
pie and the corporations they pretend
to serve. but which, in reality, they are
using to the detriment of the people
and the corporations for their own
selfish purposes. With this elimination,
little would be left in the way of a
complete understanding between the
corporations and the people.
The people do not seek to destroy the
corporations but, on the other hand,
the people do not desire to be de-
stroyed by them Battles. however,
sometimes become so obstinate, that
the commanders on the one side may
be unable to call their men to retreat
or the other to moderation. until one
army or the other has suffered com
plete humiliation.
No such condition yet confronts us.
because the people are yet persuasive,
but. if the corporations persist in con-
tinuing the fight. they should not com
plain of the result, if defeated; and, II
triumphant. they should treat the peo-
pie with moderation, and not BIND |
them with too many chains, or make
their conditions of servitude too hard,
because the people will still continue to
be their chief asset.
A. A. GRAHAM
Topeka, Kansas, February 4, 1909