Vermont watchman and State journal. [volume] (Montpelier, Vt.) 1836-1883, 1845-10-30
WINDHAM COUNTY.
777--77-77------------
RAILROAD POLICY.

The reader will observe that an important prn-
ciple settled by decisive vote of the House
Monday, on an amendment Of Mr.. Thomas to the
Western Vermont Railroad bill and we are happy
to add that it settled with wise regard to the
true interests of the people of the State. After
some little knowledge Of the views Of capitalists,
upon whom the people must ever mainly depend
for large and costly enterprises like that of rail-
road, we think we can safely say, that stability in
the legislation tChich is TO affect their interests is what
they desire above all things. 1t is well, indeed TO
offer capitalists liberal terms in charter, so to
induce them to take the stock but they care less
for that than for the certainty that their property,
when invested, shall not be disturbed. And this is
reasonable: no sane man would think Of placing
millions of money in the State, and fixing it there
even more permanently than our rugged rocks
which human power and skill may possibly remove
without some assurance that the investment will
be safe. Some spectators may do this some have
done it in other States either trusting that the State
tcW not interfere, to their luck in whistng up
the stock and getting it off their hands before any
danger is encountered. But these are not such
stockholders as any company or any State should
desire. Substantial captalsts-men who make
permanent and bona fide investments, are the right
men; and such would prefer, and might reasonably
require, pledge that their rights shall not be i'm
paired. If this is not accorded, the State and the
corporators do not stand on fair terms: the latter
have their property fixed that they cannot with
draw it, and against dangers, which might follow
from changes and convulsions in the State they
have no delence the State would possess all pow
err, whether for good or evil, and could be held TO
no sort Of responsibility to the corporation Clear
ly it is sound policy in the State to ensure stock.
holders perfect safety, and to take good care, in
all its Legislation, that nothing is done to impair
the confidence of those who have been Or are to be
invited to entrust their money to our care-to
entrust it, we will add, for the benefit of the State
quite much for their own. This is equally
essential to the people of the State, to all interest
ed in the roads chartered and to be Chartered and
to the stockholders at home and abroad and we
rejoice in this decision on the Western bill, as an
earnest that capitalists abroad may place full conf
dence in the legislation of the State. We trust
that every thing tending to impair confidence abroad
will be disposed Of in the same spirit and that all
parties and the friends of all routes may be agreed
in maintaining the faith, the honor, and the inter-
ests of the State. Thus will the confidence of
capitalists be secured-the best starting point for
every project: thus will foreign capital be made
to seek opportunities of investment here thus
may our state be covered with railroads and other
improvements, as fast and as far as its business
and resources will warrant