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Show The Hegulation ov Kaiuioai Fares and Freight. Both the retiring re-tiring and incoming governors of California Cali-fornia insist upon the right of the State to rcgulato the rate of freights and fares on railroads. The present rates, says Gov. Booth, Were established at a lime when the standards of values weremuch higher than now, and when the construction of railroads in this State was regarded as a costly and hazardous experiment. That they are too high is a fair deduc-"tioii deduc-"tioii from tho facts that they aro not less thau three times the average rates ... in the States cast of the llocky Mountains, and that the local rates allowed are out of proportion with the through rates charged. The governor says that the tendency towards a consolidation of all the railroads rail-roads in the United States, shows that local competition cannot be relied upon to regulate pi ices. Tho inter-- inter-- . Chts of Passengers aud shippers and of curriers arc not identical. Tho one is ibr tho lowest rate consilient with gaiety, the other for a rate that will yield the Iari;e.-t revenue with the least expense. The ki.-laturo represents both, and . . ;-hnuld acivml to each that just and enlightened consideration which is due to every interest and every species of property iu the State. |