nvenience. It is safe to say that had
the nation been operating the railways, there would have been no
Fourth Avenue tunnel horror; and Chauncey Depew and associates would
not now be under indictment, as the government would not have
continued the use of the death-dealing stove on nearly half the
railways in the country in order to save money for the shareholders.

Existing evidence all negatives Mr. Acworth's postulate "that State
railway systems are incapable of vigorous life."

An objection to national ownership, which the writer has not seen
advanced, is that States, counties, cities, townships, and
school-districts would lose some $27,000,000 of revenue derived from
taxes upon railways.

While this would be a serious loss to some communities, there would be
compensating advantages for the public, as the cost of transportation
would be lessened in like measure.

Many believe stringent laws, enforced by commissions having judicial
powers, will serve the desired end, and the writer was long hopeful of
the efficacy of regulation by State and national commissions; but
close observation of their endeavors and of the constant efforts--too
often successful--of the corporations to place their tools on such
commissions, and to evade all laws and regulations, have convinced him
that such control is and must continue to be ineffective, and that the
only hope of just and impartial treatment for railway users is to
exercise the "right of eminent domain," condemn the railways, and pay
their owners what it would cost to duplicate them; and in this
connection it may be well to state what valuations some of the
corporations place upon their properties.

Some years since the "Santa Fe" filed in the counties on its line a
statement showing that at the then price of labor and materials--rails
were double the present price--that their road could be duplicated for
$9,685 per mile, and the materials being much worn the actual cash
value of the road did not exceed $7,725 per mile.

In 1885 the superintendent of the St. Louis & Iron Mountain Railway,
before the Arkansas State board of assessors, swore that he could
duplicate such railway for $11,000 per mile, and yet Mr. Gould has
managed to float its securities, notwithstanding a capitalization of
five times that amount.

(_Concluded next month_.)

THE UNKNOWN.[1]

PART II.

BY CAMILLE FLAMMARION.

[1] Translated by G. H. A. Meyer and J. Henry Wi