Monopolies -- United States; Railroads and state -- United States
They now hold the secretary of the treasury at their mercy,
and compel him to serve their selfish purposes. When they achieve their
final victory (and achieve it they will under the present system) they
can, without hindrance, fix the value of gold, and extort from the
people and the government just such premiums as they please to ask for
it. They can render specie payment impossible, and thus reap the full
benefit of the "Legal Tender Decision."
CHAPTER XXI.
HOW WALL STREET BUILDS RAILROADS--A HOT-BED OF CORRUPTION.
We have attempted to show the controlling influence of these railroad
corporations upon the legislative and executive departments of the
government, and have placed before the reader the danger to republican
institutions and liberties of the people, resulting from this influence.
In this connection it remains for us to treat of the influence of these
corporations upon the judiciary of the country. Before proceeding to
this branch of the subject we desire to direct the reader's attention to
some alarming facts respecting these corporations, hitherto only alluded
to, and the disastrous results which must follow their present
management.
We have already shown that railroads, in stocks and bonds, represent
capital to about three times their actual value, and that because of
this, the people are compelled to pay rates of transportation ruinous to
the agricultural interest of the country. We have shown the relations
existing between the men who manage these corporations and the Wall
street gamblers, with their manner of issuing and putting upon the
market fictitious or "watered" stock. The idea generally prevailing is,
that the enormous wealth which these monopolies represent is real. In
fact, about two-thirds of it is pure fiction. It is _manufactured_, and
by reckless and dishonest men, who stop at nothing, and who care not for
the prosperity of the nation, or of the government, when their own
interests are in view. They drain the country of its wealth, concentrate
it in Wall street, and there spend it in stock and gold gambling; and
this hot-bed of corruption which has no counterpart, save in the
infernal regions, has raised such a combination throughout the country
as to control the whole financial policy, and compels even the secretary
of the treasury to yield to its demands. The public and private wealth
of the country is being rapidly destroyed by these corporations, and all
departments of government are compelled to do them homage.
Public-domain text, read in full here on John Shaqi.
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