Monopolies -- United States; Railroads and state -- United States
Now, state legislatures must be approached, and _persuaded_, as well as
congress; then a single legislative body, and that one the farthest
removed from the people, would be the only body to claim the attention
of this great corporate interest. When grants were once made to railroad
companies, and privileges conferred upon them, it would be simply
impossible to effect any change, no matter how oppressive they might be
upon the people. The idea that railroads are public highways, and that
railroad companies are public corporations, already obtains among
congressmen and in the supreme court of the United States. This is well
understood among railroad men, as well as the fact that there is an
increasing demand on the part of the people for the reform of the many
abuses that are now practiced by them. Hence their anxiety to have the
United States government assume control of railroad corporations. They
desire it for another reason: Most of the special favors and grants they
have received have been the result of bargain and sale. The same means
will be used in the future unless a thorough reform is effected, and it
will cost the corporate interests of the country less to deal with one
body representing all the states than it would to deal with the
legislatures of all the states. Another reason for this desire on the
part of railroad companies is, that the supreme court, as now formed, is
in full sympathy with them upon the points at issue between corporations
and the people.
Careful consideration and examination of this question will satisfy the
people that their only hope for the restoration and preservation of
their rights in the conflict now existing between themselves and the
railroad companies is in states retaining exclusive jurisdiction and
control of all the railroad corporations and railroads within their
respective borders. Another remedy suggested is, for the general
government to purchase and own all the railroads in the country, and
control them in the future. If this plan were feasible, it is of
doubtful wisdom. The purchase could not be made without the consent of
the owners of the roads. This consent could only be obtained upon
payment of the prices demanded, because railroad stock is not such
property as can be condemned for public use. It is not to be expected
that the companies owning the stocks and roads would sell for less than
cost; and this cost would be the amount of money represented by the
roads. This we have shown is over $6,000,000,000. To pay less than this
amount (being nearly three times their actual cost) would be aiding the
companies to defraud their creditors, for the reason that the roads are
the only security the bondholders have. The purchase of the roads would
increase the national debt to the amount paid for them, and impose
additional burdens in the shape of taxes upon the people. It would add
to the list of government officers and employés at least two hundred
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