Democratic Sentinel, Volume 13, Number 38, Rensselaer, Jasper County, 11 October 1889 — OUR RAILWAYS. [ARTICLE]

OUR RAILWAYS.

Annual Report of Commissioner of Railways Taylor. Secretary Noble has received the annual report of Commissioner of Railroads Taylor for the.fiscal year ending June 30 last. As Taylor was not appointed to the position until July 17 the work of the bureau does not come under him, and he confines himself to recommendations. Several railroads which received land grants from the State refused to report to the railroad commissioner, who differs from them and claims that as the States received land from the United States and then gave grants to the railroads it is the same as if they were granted directly. Ho has, therefore, reported these railroads to the Secretary of the Interior for judicial action. The commissioner next devotes himself to the subject of the rate wars between railroads. He says that in most cases they are devoid of palliation or excuse, and that they destroy or imperil the value of railroad securities and impose unjust burdens upon the commerce of the country. The commissioner disagrees with the claim of the railroad managers that the recent losses sustained weri due to restrictive laws enacted by Congress and various States. He believes that in many sections of the West, notably in lowa and Kansas, roads have more mileage than necessary and, therefore, run at a loss. * The commissioner also expresses his belief that the railroad managers do wrong in fighting to secure trade from competing points in a State for developing local traffic.

The commissioner indorses the recommendations of his predecessor in favor of enacting a law providing for the funding of debts of the bonded roads. He believes also in extending the time and reducing the rate of interest. He opposes having regular fixed payments and thinks that the law must not be .too strict, for in that event he sees that the roads could not be able to meet them and the government might be compelled to pay off prior liens and take possession of the roads. Besides the extension of time and the reduction of interest the commissioner decides that the roads be required to pay a certain per cent of their gross earnings to the liquidation of their indebtedness to the government. Thus in the years of depression roads could not pay much on the indebtedness, while in prosperous years they could do better. In conclusion he gives a complete statement of the indebtedness of the Pacific railroad, etc., and shows that it will be impossible to pay all off at maturity.