January 1, 1887





The   Record  and  Guide.





THE   RECORD   AND   GUIDE,

Published every Saturdaj/-

1©1 Broadvv^ay, 2^T. "Y.





Our Teleplioue Call is





JOHN 370.





TERMS:

ONE YEiR, in advance, SIX DOLLARS.

Communications should be addressed to

C. W. SWEET, 191 Broadway.

J, T, LINDSEY, Business Manager,





Vol. XXXIX.





JANUARY 1, 1887.





No. 981





Next iveeJc ive will publish a forecast of the business for the year
1887, written by Samuel Benner expressly for The Record and
Guide. This will greatly interest all ivho deal in real estate, stocks,
grain and provisions, as Mr. Benner's previous predictions tvere

remarkably accurate.

---------•---------

The year closed vpith business having a very prosperous look.
There does not seem to be a cloud in our sky. Ravf gotten, grain
and provisions are selling at very low figures, which would be dis¬
couraging to our farming class were it not that the extension of
railroad building and the settlement of the country is rapidly
enhancing the value of all land. An agriculturist can afford to
sell his wheat for seventy cents a bushel or his cotton for nine cents
a pound, if within the year the value of his plantation or farm has
increased from five to twenty dollars an acre, and this is what has
occurred during recent years. But all the conditions exist for good
times, at least up to the close of the present crop year. We are
shipping more than we import; gold is coming to our shores J
manufacturers find ready markets for their goods; the railroads
are carrying more freight at better prices than at any period for
the last four years. The New Year will open under pleasant
auspices._____________

The Inter-State Commerce bill, instead of being a bugaboo to the
stock market, will, after its passage, bean argument for an advance
in the price of securities. The railroad magnates do not like the
proposed law as a matter of course. The monopoly they now
possess of information about the systems they manage they
would have to share with the public, for a national railroad
commission'would require sworn exhibits of the condtion of each
corporation—quarterly if not monthly. This would interfere with
the stock-deals of the directors, who now have so great an advan¬
tage over ordinary stockholders. Then in every way the companies
would be forced to deal;fairly with the public. There will bene
rebates, no free passes, and no favors shown to special interests.
The private arrangements between the managers of roads and
subordinate corporations, such as sleeping-car companies, stock¬
yards, fast freight lines and expresses, would be in danger of
coming to light; hence the violent opposition of those who now
control the various railway systems of the country.





class ? The convention is much more likely to be successful if the
number of lawyers in it are kept down to a reasonable limit. The
convention of 1867 came to naught because of the superabundance
of talking lawyers which it contained. One recommendation this
Mayor's committee ought to make: All the leading amendments
proposed should be referred back separately to the voters. In
Switzerland, it will be remembered, there is what is called a
referendum; no important law can become valid in that country
until it is passed upon by the voters. The discussions consequent
upon the people being asked to indorse provisions of the funda¬
mental law of the State will prove educating. A discussion of
principles instead of the merits of the candidates for office is very

desirable in a Republic like ours.

------------a------------

Switzerland is indeed a model Republic. It is now testing the
value of a graduated income tax, to see if it is possible to keep
down very large fortunes and add to the resources of the poorer
classes of the community. The same nation is making an experi¬
ment in temperance legislation which will be watched with keen
interest all over the world. The government proposes to monopolize
the liquor traffic. The diJ tillers must sell all their products to the
State, which sees to it thdffc the materials and methods of distilla¬
tion are of a wholesome character. A high price will be charged
for liquor, and the government expects to secure a profit of
$3,000,000 a year; $150,000 of this sum is to be spent by the
cantons to mitigate the evils caused by alcoholic drinks. It will
be remembered that Bismarck recently tried to induce the Reichstag
to permit a government monopoly ot strong drink, but the liquor
interest was too strong for even the man of " blood and iron.''
Tobacco, however, is a government monopoly in France, Gefmany
and other continental nations ; but Switzerland is the first country
to undertake the retailing of alcoholic stimulants.





We adhere to the 'position we have heretofore taken that the
passage of the CuUum compromise will give value to every rai -
way security in the country. An interest representing 8,000,-
000,000 of dollars, and which is controlled by the most enterprising,
shrewdest and wealthiest men in the community, is certain to be
benefited by government intervention. This matter has been
tested by State railway commissions. These have worked well in
Massachusetts, in New York, Ohio, Illinois, California, and other
States. The only commonwealth which has made any serious
objections to a railroad commission was Georgia, and there the law
was amended to allow an appeal from any decision of the commis¬
sioners. But it is a curious fact that since this right has been
granted the railroads no appeal has ever been made. A national cpm-
mission is inevitable, and the Pennsylvania Central Company shpws
its wisdom in declining to fight the CuUum compromise, .for
the reason that if that enactment is not accepted a much more
objectionable one to the railroad corporations is certain to ^ss

later on.

------------a------------

Mayor Grace has called into existence a committee for the pur¬
pose of arranging the topics to be discussed by the State Constitu¬
tional Convention, which it is supposed will sit some time next
summer. This is a good thing to do; but why confine this advisory-
commission almost entirely to lawyers. There are some good
names among the gentlemen asked to serve by the Mayor,'-bufc
surely other classes should be represented as well as the legal
profession. We notice the name of a banker in the list, but there
ought to be a manufacturer, and, then, is it quite wise to ignore the
labor element, or on© or ffipre Representatives, of the eiBpIdying





In the recent strike of the Brooklyn car-drivers and conductorl
it will be noticed that one of the demands was for more respectfus
treatment on the part of the officers of the companies. The men
objected to being spoken to as if they were horses or cattle. This
certainly shows an increase of self-respect on the part of rough
and unskilled laborers which is probably a result of our common
school education. Another noticeable feature of that strike was
the victory of the men in obtaining recognition for their leaders.
Mr. Lewis, the president of the company, made the point often set
forth in these columns, that an organized corporation could be
forced to keep its agreement while he could get no guarantee that
the employes would abide by their side of the bargain. But he
was finally convinced that by dealing with an organized associa¬
tion instead of individuals the agreement entered into would be
kept on both sides. The Record and Guide is still of opinion
that the only solution for labor troubles in the railway system of
the country is the putting of the employes under government care
and oversight. If every brakeman and conductor in the Union
was a government officer there would be an end to all danger Of
strikes in the future and an assurance against the possibility of a
civil war. Then, if the conductors and car-drivers were made a
branch of the police force of the large cities, "tie-ups" would
never again be heard of, and a great riot, if one broke out, would
be promptly repressed. But until these radical naeasures are
taken we shall be constantly exposed to interruptions in the rail¬
way systems of the country, due sometimes to the greed of the
companies and at others to extravagant demands by the men.

---------«------:---

Chicago is determined to try the experiment of reforming its
municipal government. The problem in all large cities is how to
secure honest and efficient management under the limitations
imposed by universal suffrage. A Citizens' Committee in Chicago
called on the leading clubs and exchanges to send delegates to a
central body to devise a plan. It was agreed to ask the Legislature
to call into existence a body of sixteen commissioners who should
have charge of the financial administration of the city. The
citizens hope to get rid of " boodle " officials by some «uch means.
The town of Pullman, a few miles from Chicago, is prospering
under a very despotic form of government. There are no city
officials at all and no local elections. The officers of the Pullman
Car Company attend to everything. B/ all means le|; every sort
of local government be tested. Americans are a practical people,
and eventually they will hit upon some plan of local government
which will be honest, efficient and practicable.





The matter of the opening of Elm street to relieve the pressure
on Broadway is postponed until Mr. Abraham Hewitt cdn take it
up as Mayor. Something should certainly be done. Our great
thoroughfare is gorged with travel of ^1 kinds, and the city needs
another main artery for vehicles and foot passengers on the east
side of the city. This new avenue should have no surface horse-
cars, as the tracks interfere with the carriages, wagons and drays
wbich will use such an artery of local traffic in very great num¬
bers.   But permission might' be given to build another elevated





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