374 TEE POPULAR SCIENCE MONT ELY. 



steady, rhythmic development which results from the operation 

 of natural laws and is ever indicative of genuine progress and 

 stability. 



The pernicious influence of such conflicting legislation has led 

 capital to alternate its moods between the extremes of inexcusable 

 recklessness and unwarranted timidity ; whereas the repeal of laws 

 encouraging construction would withdraw the incentive of the 

 reckless, while a similar repeal of laws discouraging construction 

 would quiet the fears of the timid, and a healthy growth and a 

 stable development would result. 



Laws which have led to the construction of parallel lines of 

 railway have diverted capital from the improvement of the coun- 

 try's highways ; and even in Illinois and adjoining States, during 

 certain seasons of the year, a ton of freight can be shipped a thou- 

 sand miles to the seaboard at less cost than it can be hauled a dis- 

 tance of ten miles to market ; yet, in spite of this grotesque condi- 

 tion, laws encouraging further railroad extensions still deface their 

 statute-books. 



The Interstate Commerce Bill aims to correct the evil, but it 

 will fail, for it does not touch the cause. It attempts to cure evils 

 which have come from unnecessary and premature construction 

 by regulating the operation of railroads. Its direct and immedi- 

 ate effects appear to be good, for men do not concern themselves 

 with the necessary reactions which are the true adjustments by 

 which any laws or systems of laws must be judged. 



Here is our railroad system in a state of utter demoralization 

 and confusion, and yet the " Railway Age " of April 12th presents 

 a table in detail showing that six hundred and sixty-six new lines 

 are in contemplation, with an aggregated mileage of over fifty- 

 three thousand miles, of which nearly fifteen thousand miles are 

 under construction or contract, nearly ten thousand miles are sur- 

 veyed, and twenty-nine thousand miles incorporated only. Does 

 this not suggest the probable direction which the reaction to the 

 Interstate Commerce Bill will take, unless stimulating laws are 

 repealed, viz., a separation of the men who build the railroads on 

 speculation under the one class of laws and the bona fide investors 

 who will be compelled to purchase and operate them under the 

 other class of laws ? Can any one imagine the bewildering com- 

 plications which the new adjustment threatens ? 



The Interstate Commerce Bill gives fair warning to investors 

 that, if they avail themselves of laws which encourage the con- 

 struction of railroads, they must suffer the consequences of their 

 rashness, for they will be permitted neither to combine in pools nor 

 discriminate in rates. This would be fair and logical if the par- 

 ties constructing railroads were also the ones who operate them ; 

 but, unfortunately, our laws are so devised as to give aid and en- 



