Year: 1870

The tendency TO consolidation Of the grea


railroad lines and interests of the country ha'
been apparent for some time past This nov


begins to take place on gigantic scale. Tht
railroad kings, who control the principal lines


have ceased that rivalry which promised to bt
q benefit to the country by reducing the rate
of fares and freight to the lowest paying
figure, and are now combining with view tc
increase their profits and vast fortunes at the
expense Of the public. The very significant
telegraphic despatch sent by Jay Gould to the
Vice President of the Pennsylvania Central
Railroad the other day shows what is taking
place. Mr.. Gould says :-'I have arranged q
consolidation with the New York Central,
which Of course requires the acquiescence OF
| all competing lines. When can you come to
New York;" We understand Mr. Gould says
this "new consolidation affects every dollar Of
interest In the two roads," The New York
Central and Erie Railroads and Vanderbilt,
Gould and Fisk are united in common inte-
rest to keep up high rate offares and freight
and the Pennsylvania Central, as Is seen by
Mr.. Gould's telegram to Mr.. Scott, is invited
to join the combination. With the terms OF
this arrangement or as to which has made the
greatest concessions we are not informed.
Nor do we think it Of much consequence to the
public, for that is a private matter among
these railroad chiefs. But as TO the fact
and probable consequences Of this con-
solidation the whole community is deeply In
terested.


Look at the thousands of miles Of railroads
the two great trunk lines of Erie and the New
York Central embrace and control. Look at
the area of country they stretch over, the
many millions of people, with all their vast
| agricultural manufacturing and other material
| interests dependent upon these roads and their
connections for transportation. Then add to
this combination the Pennsylvania Central,
with its branches and ramifcations, and we
see the most stupendous monopoly that ever
| existed in the hands Of four or five men. Nor
is it likely the consolidation will 60 no further.
The Baltimore and Ohio line and its branches
may be brought into this common interest.
Indeed it is difficult to conjecture how far this
consolidation mSy 60 unless either the govern
ment of the several States or the federal gov
ernment interpose. The three great trunk
lines named, with their connections, represent a
capital, probably, Of not less than six or seven
hundred millions Of dollars. The income they
draw from the people for travel and freight is
enormous. Ten per cent more or less of
| charges makes vast difference to the public.
Ten per cent addition would be an oppressive
direct tax upon the whole community; for
there is not man, woman or child who is not
dependent upon or affected by the railroads
either directly or indirectly. All must use
them, and all must pay whatever charges the
managers choose to impose. In this direct tax
these railroad kings are irresponsible, and
study only their own interests. Their power
is as great in this respect as that of the ma
tional government ITSELF 1t may be said, per-
haps, that the interest of the railroad COM
panies is identical with that of the public; but
these companies do not look at it in that light,
and never have looked at it SO. They do and
will swell their incomes as much as possible
at the expense of the public unless restrained
by the hand of government.


There is danger, then, in the consolidation
of these great railroad lines-danger to the
pockets of the people, to the progress and
material interests of the country, and in the
end, possibly, to the institutions of the repub-
lie. Agreat deal used to be said about the dan
gerous power ofthe old National Bank in Presi-
dent Jackson's time, and we hear, too, Of the
danger of the present national banks, as well as
of other institutions and combinations; but
none of these were or are fraught with so much
evil as the stupendous railroad consolidation
with which we are threatened. 1t is evident
something must be done to check the growing
power of the railroad monopolies and to regu-
late their charges. The State of Illinois has
taken step to this end. She made pro-
vision lately in her constitution to prevent
railroad consolidation and to check the growth
Of this gigantic monopoly. Other States
| that many of them will do so. Is it likely, for
example, that the Legislature of Pennsylvania
will pass any law inimcal to the interests Of the
Central Railroad of that State when that road
is all powerful and controls legislation at Har-
risburg? In fact, the Pennsylvania Central
owns and controls the State as much as or
more than the railroads Of New Jersey dc
the State of New Jersey. The same remarks
apply in great measure to other States and
their railroads. Besides, it is known that
with the enormous wealth and power Of the
leading railroad lines they can buy up and
control the Legislatures whenever they choose
There is no effectual way Of reaching these
monopolies but through the general govern
ment. Congress must, sooner or later, and
the sooner the better, make laws to regulate
the railroads and their charges. These roads
are now the great arteries of internal COM