The Chicago, Burlington, and Quincy (report of December, 1886) was operating 4036 miles of road. Its only eccentric development was the recent Burlington and Northern, up the Mississippi River to St. Paul. Its main stem from Chicago branches out over northern and western Illinois, runs down to St. Louis, from thence to Kansas City by way of Hannibal, has a trunk line to Omaha, criss-crosses northern Missouri and southern Iowa, skirts and pierces Kansas, and fairly occupies three-quarters of Nebraska with a network of tracks, sending out lines north of the Platte, and one to Cheyenne and one to Denver. The whole amount of stock and bonds, December, 1886, was reported at $155,920,000. The gross earnings for 1886 were over twenty-six millions (over nineteen of which was for freight and over five for passengers), operating expenses over fourteen millions, leaving over twelve millions net earnings. The system that year paid eight per cent, dividends (as it had done for a long series of years), leaving over fixed charges and dividends about a million and a half to be carried to surplus or construction outlays. The equipment for the year required 619 engines and over 24,000 cars. These figures do not give the exact present condition of the road, but only indicate the magnitude of its affairs. Both these great systems have been well managed, and both have been, and continue to be, great agents in developing the West. Both have been profitable to investors. The comparatively small cost of building roads in the West and the profit hitherto have invited capital, and stimulated the construction of roads not absolutely needed. There are too many miles of road for capitalists. Are there too many for the accommodation of the public? What locality would be willing to surrender its road? It is difficult to understand the attitude of the Western Granger and the Western Legislatures towards the railways, or it would be if we didn’t understand pretty well the nature of demagogues the world over. The people are everywhere crazy for roads, for more and more roads. The whole West we are considering is made by railways. Without them the larger part of it would be uninhabitable, the lands of small value, produce useless for want of a market. No railways, no civilization. Year by year settlements have increased in all regions touched by railways, land has risen in price, and freight charges have diminished. And yet no sooner do the people get the railways near them than they become hostile to the companies; hostility to railway corporations seems to be the dominant sentiment in the Western mind, and the one most naturally invoked by any political demagogue who wants to climb up higher in elective office. The roads are denounced as “monopolies”—a word getting to be applied to any private persons who are successful in business—and their consolidation is regarded as a standing menace to society.