The Atlantic Monthly, Volume 05, No. 32, June, 1860: A Magazine of Literature, Art, and PoliticsVarious
History
The Atlantic Monthly, Volume 05, No. 32, June, 1860: A Magazine of Literature, Art, and Politics
Various
American periodicals
But there is something more wanted yet. As we have said, railway men are
not out of the reach of temptation. Let the various officers of a railway
manage it so as not to exceed the average expense of other roads of their
State, and their reputation stands high. Let them reduce their expenses
below the average, and their power is despotic. If they are men of ability,
they can do all this,--operate their road for less than many others, run
their trains regularly and without accident, even treat the public with
civility, and make themselves rich, in a few years, by percentages and
commissions on the cost of supplies, and by other modes, which, perhaps,
had better not be referred to here. If any one doubt this, let him take
pains to inquire how large a proportion of railway-men get rich in a few
years on salaries of from one to two thousand dollars per annum. Nor can
this be prevented; for every new check is only a transfer of power from
intelligent to ignorant hands; and ignorance, however honest, is a more
expensive manager and easier victim than knavery. There is but one remedy.
Make it for men's interest to reduce the expenses of operating to a
minimum. Make it for their interest to do so, by allowing them to share in
the profits, and then the question is solved, and you have a thousand
vigilant guardians of your property day and night. Let all supplies be
furnished by public competition under sealed tender, as is done in the army
and navy, and on the large railways of Great Britain.
There are, no doubt, practical difficulties in the way of carrying out
these changes, as there are in introducing all new systems. You have to
meet the doubts and suspicions of those who are unacquainted with them, the
opposition of interested parties, and the general feeling which influences
all men to let well enough alone. But that there are no insuperable
obstacles in the way is evident from the fact that this system has already
been partially applied on a railway doing a very large business, the
Philadelphia, Wilmington, and Baltimore, under the able superintendence of
S. M. Felton, Esq., who, in his last Report, says, "It still works well,
and is productive of much saving to the Company. [Footnote: The cost of
operating this railway for 1859, as per last Report, was only 37.4 per
cent. of the receipts, while that of the railways of Massachusetts for the
same year was 56.9 per cent. The result is a dividend of 8-1/2 per cent.
on capital, after paying the interest on bonded debt.] It promotes
regularity in running the trains, and in all branches of our business. It
diminishes accidents, _by bringing home the responsibility directly upon
individuals_ instead of the corporation."
Public-domain text, read in full here on John Shaqi.
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