Rensselaer Union, Volume 7, Number 30, Rensselaer, Jasper County, 15 April 1875 — Railroads vs. The People. [ARTICLE]

Railroads vs. The People.

The great excitement which was raised when the Legislatures of lowa, Illinois, Wisconsin and Minnesota attempted to regulate railroads is passing away. The roads have passed through the first year of panic on the subject in’a better condition than at any former year. It is true public attention has been called to the manner of their management, and the consequence is a large number have been either declared bankrupt or have gone into the hands of assignees. Over three thousand miles of road in Illinois, the best State in the Union for railroads, have gone into receivers’ hands, bond and stock holders not being willing longer to trust the rings that have managed them. But every thing is working admirably and if the people and Legislatures stand firm no man in the nation who has any respect for his reputation will contend that the Legislatures have no right to regulate. And to a par tial degree the great problem will be solved, that lower freights and passenger tarilis will increase the net revenues of the roads. Hon, Charles Francis Adams, of Massachusetts, the Railroad Commissioner of that State, makes an able report for the past year. His facts and figures are valuable for future Legislatures, and should be preserved for eud,s for railroad lawyers to chew. Without going into his statistics we annex a paragraph of his conclusions: “The great issue involved in the struggle is already decided; the essential victory on the part of the community is secured. The sense of accountability to the public as well as to the stockholder; the necessity of dealing equitably, under a heavy responsibility to public opinion; the recognition of the distinction which exists between a railroad corporation and a manufacturing company, all these material principles are for the future reestablished. These were also the practical points at issue. With the tacit recognition of these principles the abuses incident to the former system of railroad management will; pass away, and with them the feeling of popular anger which they very naturally provoked.” — lowa State Register.