248 HISTORY OF THE GRANGE MOVEMENT; OR, 



pect of its indefinite extension is not likely to over- 

 whelm the public with delight. It would, of course, be 

 childish to expect Commodore Vanderbilt or any one 

 else to run railroads from philanthropic motives or as 

 charitable institutions. He runs them to make money, 

 and for no other purpose. This being the case, and 

 such being his policy, it is not surprising, considering 

 how extensively railways control commerce, govern 

 prices, and influence our closest interests, that people 

 should feel nervous at the news of this Great Economist 

 capturing another thousand miles of railway, and 

 stretching out his long hand to grasp all the telegraph 

 wires in the country. It is probably unfair to grudge 

 the Central stockholders their dividends. But people 

 who are not so fortunate as to belong to that happy 

 class cannot be blamed for remembering that the Cen- 

 tral & Hudson property, which is now made to pay 

 dividends on $115,000,000, was represented in 1862 by 

 only $50,000,000 of stock and bonds, and really cost 

 about $35,000,000, the difference between this sum and 

 $115,000,000 being mostly what is called, in the jargon 

 of the street, ' water ; ' and that if there had been no 

 water mixed with the good old Central wine, the road 

 could have carried passengers at one cent a mile in 

 clean, well-ventilated cars, and have paid the same divi- 

 dends that it does now. 



" In truth, however, it is a small matter to a pros- 

 perous people like ourselves whether we pay one or 

 three cents a mile to go to Albany, or whether dust and 

 discomfort do or do not drive us into drawing-room cars. 

 A much graver matter is the inevitable tendency of 

 these grasping monopolies that are springing up around 

 us, and the inexorable law which punishes corporate 



