Business; Capitalists and financiers -- United States; Speculation; Wall Street (New York, N.Y.)
If my reasoning here is correct, there is cause for our great
railroad capitalists to look out for the security of their
investments. The basis for their wealth may prove far less
certain than they have imagined it to be. With the prevailing
and steadily increasing public feeling against the methods of
railroad capitalists and the working of our railroad system,
what assurance can there be that, when a remedy for these
corporate wrongs comes to be clearly propounded, it will not be
eagerly urged upon the attention of the Legislatures and adopted
without much ceremony? The dash of a Governor’s pen is,
therefore, all that stands between the railroad millionaire and
the sudden extinction of a large portion of his inflated paper
wealth. Is this a chimerical conclusion? The question, it seems
to me, deserves a far more serious consideration than those most
vitally concerned have yet bestowed upon it. No man can
confidently deny the possibility of such a result as is here
indicated. No one familiar with the present public temper on the
subject of railroad monopoly can reasonably question _the
probability even_ of a settlement of this kind being ere long
resorted to. Under these circumstances, it is a question very
pertinent to the times, whether the foundation of our railroad
aristocracy is as broad or as firm as it has been supposed to
be, and whether a healthy solution of the great railroad problem
is as difficult and as remote as some despondent people have
represented it to be.
[Illustration:
A ONE THOUSAND DOLLAR BOND OF THE STATE OF GEORGIA.
Repudiated.
]
------------------------------------------------------------------------
CHAPTER XXVII.
GEORGIA REPUDIATION BONDS.
Public-domain text, read in full here on John Shaqi.
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