The Irish standard., 1910-08-13

COST or value of the service per-
formed, nor on the capital invested.
your money or your life," it says to
the commercial world and often out
classes the highwayman of old by
collecting at both ends.
Starting with hand satchel as an
investment, the express business in a
few years had property of every kind
from mules to men. working every
where from stable to Senate, at every
kind of job that made money, from
buying hens eggs to Matching out
presidential booms in the corridors OF
the capitol.
The Adams Express Company began
business, 1854, and accumulated to the
date of it's last report, $45,617, 0S7.65,
In addition to paying enormous divi-
bends annually, the last of which was
$1,000, 100000.
The American Express Company,
during practically the same period, ac-
cumulated s45,s64,67I65, besides pay
ing large annual dividends.
The United States Express Com
pany accumulated s15,345,O27.92, and
paid in the last eighteen years in div
idends, s6,15O,OoO.oo.
The Wells-Fargo, in it's last report,
lists assets amounting to $157,SSS, $685.
OBI, large part of which was accu-
mulated during the past ten years, in
addition to paying out over seven
thousand dollars in dividends.
The Great Northern Express Com
pany was organized in 1892. The to-
tai cost Of its property. including real
estate. fixtures and equipments, was
to June 30, 1909, S71.2sS.91. The last
annual dividend Of the company was
s500,000.00. During the past ten years
this company paid in dividends 3d.
2O0,0O0.00 and in addition to this ac-
cumulated assets amounting, on the
date of its last report, to s1.448,ss1.5s.
All of the money to pay these divi-
dends and acquire these assets came
from express charges.
The history of all other express
companies show substantially the
same enormous earnings on practical
ly normal investment.
There is no sense, or statesman
ship. in permitting this unnecessary
drain Of money from the public for
the profit of politicians and enrich
ment OF millionaires. Double taxation
Is as vicious in principle and more
oppressive in practice than taxation
without representation. such as our
fathers rebelled against.
Not one per cent of all the proper
ty and money engaged in the express
business today was invested as ORR
ginal capital. Over 80 per cent was
paid in by the public for express serv-
ice. Equipment was maintained and
enlarged from daily earnings and
charged to operating expenses. Money
was spent in lobbying and campaign
purposes; safe and sane legislation
was negotiated in divers states: re-
formers were rebuked and reduced to
the ranks regardless of cost and still
the surplus accumulated so that from
time to time it was necessary to cap
italize and distribute it to the share
holders.
There is no legitimate field for ex-
press companies in this country. They
are unnecessary drains upon the gov
eminent and business of the people,
The United States is better equipped
to handle by parcels post all small
packages. The banks legitimate bust
ness is the transfer of money by
drafts and letters of credit. The rail-
roads can as readily haul fast freight
for the public as for the express COM
panies Why should the burden of
business be increased by duplicating
the machinery of operation? Why
should the taxes be. raised by this
law-protected monopoly? Why should
the railroads, undertaking to handle
the public business of transportation,
be permitted to shirk part of their
work and make more money by their
dereliction than they would in the full
performance of their duty? Why
should the transportation tax be lev
led, collected and diverted from the
public treasury by men doing public
work for private profit?
The same plan of building out of
earnings and capitalizing surplus was
followed by the Pullman Company In
40 years it grew from one to about
five thousand cars; from a capitaliza-
ton of one hundred thousand to one
hundred million dollars; from an &C.
tual market value of fifteen thousand
to over one hundred and fifty mill
ions. In addition to building these cars
and accommodating this property the