The Leavenworth echo. [volume] (Leavenworth, Wash.) 1904-current, 1912-02-16

tortion would end. In European coun-
tries express companies do not exist.
There the parcels post is supreme, sat
isfactory to the people and remunera-
tive to the governments.
Poor's Manual of Indnstrials" for
1908 registered industrial corporations
with an aggregate capitalization Of sl7,-
52o, 1862 and some $4,000, 900
stockholders. The gross earnings OF
these corporations totaled 81, los, 1885,
OILS, according to their reports. In the
same year the railroads, with capitali-
cation of $4,000, 100000 ("Poor's
Manual OF Railroads" and some $780,
900 stockholders and probably more
than that many bondholders, say l.
000,00 for both, showed gross earn
ing of s2,513, 212,763, or S347, 426,-
TAB more than all the industrials. This
showing will be of peculiar interest to
more than one business concern in
America today. For it is an admitted
fact in hundreds of instances that the
earnings OF industrial enterprises have
decreased just in proportion as railroad
| freights have advanced.
In France, where all railroad bonds
carry the government guarantee, they
never exceed three per cent. In CIV
ing this guarantee the government re-
serves the right to take over any road
at will upon stated percentage OF what
it can be made to pay. Last summer,
while abroad, l saw such line in Nor
mandy, but lately taken over, vastly
| improved in service and management,
giving the best Of satisfaction to the
public and promising eventually fine
return to the government. In Ger
many, where less than $500 miles of
railroad are privately owned, the net
revenue to the government is annually
approximately ESQ, 100000. From 'SS
to 1906 clear surpluses were handed
the government exchequer by the
minister Of railways aggregating $685.
OOO,000; twice the amount of the cap
tai debt OF the railways in 1882. Dur
that time the nation saved just that
much in taxation, and without this in
come many of the government expendi-
lures, necessary to the public welfare,
would have been impossible. What has
been done abroad may be accomplish
ed in the United States.
Whatever capitalization may be fixed
by the government as necessary should
be forever restricted against increase
and the bonds should be made per-
petual thereby constituting an ireduci-
BILE debt. No person should be per
mitted to hold more than a million
dollars of these bonds. A limitation
of 100000 would be even better.
Such limitation would work no hard
ship on the widows and orphans"
tho it might peeve some of the multi
millionaires who have been overlong on
the inside. These bonds should be Of
small denominations, say from $40 up,
as an inducement to the workingman
to invest his savings therein. They
could be sold over the counter through
the system of postal savings banks.
They would make an ideal and ab-
solutely safe investment for the man of
limited means. With the government
ever ready to redeem them they would
provide a security on parity with ac-
tual cash. The laboring man would
enjoy the same privilege as the million
aire Of having a financial interest in the
nation. Each bond would be his GER
tifcate OF ownership in the government,
long boosted by the campaign trial
horses to be Of the people, by the peo-
pie and for the people. Finally the
working man would be getting square
deal.
With the postal savings banks loan
ing money in turn to the national
banks in the localities where deposits
are made there would be more equit-
able distribution of money throughout
the country. AS result there would
be renewed and deeper confidence,
more general and widespread pros
perity, keener and more personal in
terest in things governmental on the
| mart of the average man. II would