Gross profit is up �20.900. and net profit �53.200. So that this company will be in a most favorable condition for the Panama Canal trade. The liner tonnage of England is actively employed all the year. and especially with the emigration movement to Canada. and that emigration movement to Canada will continue and increase very largely in the next few years. and indvitably increase the earnings of the Canadian Pacific Railroad both in freight and passenger traffic enormously. giving them a still further power to use its great resources in extending their steamship lines to use the Panama Canal. while our railroad companies come under the restrictions of the Interstate Commerce Commission. and the further restrictions. which you are placing upon them by this legislation. will be eliminated as a factor in competing on the sea with our British competitors. One of the excuses made for this legislation is thal it is to discourage monopoly of domestic traffic by placing these restrictions on the railroads. yet a careful study of its real effect will readily show that instead of discouraging monopoly it can easily have the effect of fostering and promoting steamship monopoly. since it would forbid a railroad from establishing a steamship line in competition with an existing independent line. and it certainly would not restrict and might even promote industrial monopoly through the control by large corporations of steamship lines. But the main object and the most serious fault in the entire matter is the advantage that it gives to foreign steamship companies and the tribute it will make Americans pay to foreign Governments.
Keywords matched
emigration