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Show The Railroad Power THE railroad power In this country fills the mind of the thoughtful man with awe. It is hardly three score years since it began to expand, who can measure it now? It represents one-fifteenth of the aggregate property value of the country; it employs an army of men, the strongest and best of the land; so much do the people depend upon it, that were its trains to stop for a week millions of people would be brought to the verge of starvation; the aggregate of its earnings and expenses make a presentation of figures which are like those which compute the distances to the fixed stars; the larger companies think nothing of making $100,000,000 improvements improve-ments it is almost another government within the government of the United States. The laws put certain limitations upon it, but it is so strong that It often ignores the law. If this has come in fifty years, what will it be fifty years hence? It is so tremendous that it seems to u3 it should be the most serious concernment of the government. As it Is advancing there will not be money enough in the country to pay the interest on its bonds in a few years more. All the surplus from field, factory and mine will be absorbed and still there will be a deficit. Are those who are framing a new financial system for- the country keeping that fact in mind? We see no remedy except to found a system on the assets rather than the debts of the country, and on every new road the government should own one-third and have its directors in the roads. Then there should be limitations put on building new roads, and the launching of new railroad schemes by straw companies should be inhibited altogether. If a company can organize a road with stocks equal to the honest cost; if then it can sell bonds enough to build the road, it is clear that so long as the road runs, the effort will be to make the people pay the interest on both the stocks and the bonds, and when enough of these bonds are piled up in foreign countries, all the revenues of the nation will not be sufficient to meet the Interest. As it is the country is running run-ning behind now every year; the immense foreign expenditure always keeps a feeling of uncertainty upon the minds of monied men where it is going .to end? |