The Arena. Volume 4, No. 20, July, 1891

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Various. The Arena. Volume 4, No. 20, July, 1891

OLIVER WENDELL HOLMES

PLUTOCRACY AND SNOBBERY IN NEW YORK,

“SHOULD THE NATION OWN THE RAILWAYS?”

PART I.—Objections to National Ownership Considered

THE UNKNOWN.1

PART II

THE SWISS AND AMERICAN CONSTITUTIONS,

THE TYRANNY OF ALL THE PEOPLE

REVOLUTIONARY MEASURES AND NEGLECTED CRIMES

PART II

“ÆONIAN PUNISHMENT.”

THE SON OF GOD

THEOLOGICAL SEMINARY

PROFESSOR SHEDD

MORAL RESURRECTION

THE WORD A GOD

MELLO

THE NEGRO QUESTION FROM THE NEGRO’S POINT OF VIEW

A PRAIRIE HEROINE

II

III

EDITORIAL NOTES

AN EPOCH-MARKING DRAMA

THE PRESENT REVOLUTION IN THEOLOGICAL THOUGHT

THE CONFLICT BETWEEN ANCIENT AND MODERN THOUGHT IN THE PRESBYTERIAN CHURCH

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Let us imagine that a foreigner has entered a New York ball-room for the first time, and let us make that foreigner not merely an Englishman, but an Englishman of title. He would soon be charmed by the women who beamed on every side of him. Their refinement of manner would be obvious, though in some cases they might shock him by a shrillness and nasal harshness when speaking, while in other cases both their tone and accent might repel him through extreme affectation of “elegance.” But for the most part he would pronounce these women bright, cultivated, and often remarkably handsome. They would not require to be amused or even entertained after the manner of his own countrywomen; they would appear before him amply capable of yielding rather than exacting diversion, and often through the mediums of nimble wit, engaging humor, or an audacity at once daring and picturesque. But after a little more time our titled stranger would begin to perceive that behind all this feminine sparkle and freshness, lurked a positive transport of humility. He would discover that he had swiftly become with these fashionable ladies an object of idolatry, and that all the single ones were thrilled with the idea of marrying him, while all the married ones felt pierced by the sad realization that destiny had disqualified them for so golden a bit of luck. He would find himself assailed by questions about his precise English rank and standing. Had he any other title besides the one by which he was currently known? How long ago was it since his family had been elevated to the peerage? Did he personally know the Queen or the Prince of Wales? Was his mother “Lady” anybody before she married his father? Did he own several places in the country, and if so, what was the name of each?

The men would naturally be less inquisitive; but then the men all would have their Burke or DeBrett to consult at their clubs, and could “look him up” there as if he had been an unfamiliar word in the dictionary. And these male followers of fashion would, for the most part, distress and perplex him. He would be confronted with a mournful fact in our social life: the men who “go out” are nearly all silly striplings who, on reaching a sensible age, discreetly remain at home.

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Possibly this would be true, but they would be much better built and cost far less for maintenance and “betterments,” and would represent no more than actual cost; and such lines as the Kansas Midland, costing but $10,200 per mile, would not, as now, be capitalized at $53,024 per mile; nor would the President of the Union Pacific (as does Sidney Dillon, in the North American Review for April,) say that “A citizen, simply as a citizen, commits an impertinence when he questions the right of a corporation to capitalize its properties at any sum whatever,” as then there would be no Sidney Dillons who would be presidents of corporations, pretending to own railways built wholly from government moneys and lands, and who have never invested a dollar in the construction of a property which they have now capitalized at the modest sum of $106,000 per mile. After such an achievement, in making much out of nothing, it is no wonder that Mr. Dillon is a multi-millionnaire and thinks it an impertinence when a citizen asks how he has discharged his trust in relation to a railway built wholly with public funds, no part of which Mr. Dillon and his associates seem in haste to pay back; their indebtedness to the government, with many years of unpaid interest, amounting to more than $50,000,000, which is more than the cash cost of the railway upon which these men have been so sharp as to induce the government, after furnishing all the money expended in its construction, to accept a second mortgage, and now ask the same accommodating government to reduce the rate of interest—which they make no pretence of paying—to a nominal figure, and to wait another hundred years for both principal and interest. To make sure that the government’s second mortgage shall be no more valuable than second mortgages usually are, and to make it more comfortable for the manipulators, Messrs. Gould and Dillon now propose to put a blanket first mortgage of $250,000,000 on this property, built wholly from funds derived from the sale of government lands and bonds, and to pay the interest on which bonds the people are yearly taxed, although Mr. Dillon and his associates contracted to pay such interest. In his conception of the relations of railway corporations to the public, Mr. Dillon is clearly not in accord with the higher tribunals which hold, in substance, that railways are public rather than private property, and that the shareholders are entitled to but a reasonable compensation for the capital actually expended in construction and a limited control of the property; and in this connection it may be well to quote briefly from decisions of the United States Supreme Court, which, in the case of Wabash Railway vs. Illinois, uses this language: “The highways in a State are the highways of the State. The highways are not of private but of public institution and regulation. In modern times, it is true, government is in the habit, in some countries, of letting out the construction of important highways, requiring a large expenditure of capital, to agents, generally corporate bodies created for the purpose, and giving them the right of taxing those who travel or transport goods thereon as a means of obtaining compensation for their outlay; but a superintending power over the highways, and the charges imposed upon the public for their use, always remains in the government.” Again, in Olcott vs. the Supervisors, it is held that: “Whether the use of a railway is a public or private one depends in no measure upon the question who constructed it or who owns it. It has never been considered of any importance that the road was built by the agency of a private corporation. No matter who is the agent, the function performed is that of the State.”

Mr. Justice Bradley says: “When a railroad is chartered it is for the purpose of performing a duty which belongs to the State itself…. It is the duty and prerogative of the State to provide means of intercommunication between one part of its territory and another.”

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