Minnesota weekly times. [volume] (St. Paul, Minn.) 1854-1859, 1855-02-13
10 act from interfering with the primary disposal

10 act from interfering with the primary disposal
of the soil. al
Therefore, to give and grant to any body the
right Of way and the soil to the width OF two /
hundred feet, from the Iowa line to Lake Superb
TO avoid this, Congress must first grant the
right of way to Minnesota, and then she may |
grant it to company, and not before. This will |
not be denied by any one, Ipresume, unless his |
pecuniary interest blinds his Judgment. II the
act of Congress approved 29th June, 1854, grant, |
ing lands to Minnesota for Railroad purposes was
now in full force, and unrepealed, the right OF
way has been accidentally omitted to be granted
unless by implication arising out OF the right to
build Railroad from and to certain points. The
right of way is only granted expressly over the
reserved lands, subject to the approval OF the
President of the United States.
I'd. If the right of way was granted, by the act
of the Goth June, 1854, that act has been repeal
ed by the act of the 4th of August, 1854. But it
is said that Congress had no right to repeal the
grant because the company had commenced the
construction of the road and had thereby vested
right. This utterly deny and distinctly aver
that said company hayo not expended one dollar
or one cent in the construction OF said road.
And in proof of my position, have in my pos
session, (and have transmitted a copy to your
body,) the report of the acIis.g President and
Treasurer made to me the first day OF January,
1855, under their oaths, duly attested by COM
petent officer, that said company had not expen-
ded any Dtateuer, in the construction OF said
road but that they had expended about nine
thousand dollars, in some way not made known to
me. -t
By the bill presented to me, it appears that the
10th section Of the charter of the NJ. & N. w. R.
r. Co. is repealed. The section thus repealed is
the one which declares the charter absolutely UOid
if they fail to comply with all the provisions, and
Al. Az 4 ~ Ae <hnh hafO
me, declares that said charter shall only be cold
if the company fail to build the said Fifty miles
of Railroad, from ST. Paul North, within three
years. and the whole line within three years there
after, and to complete line of Telegraph from
Dubuque to st. Paul within % months, afte- the
passage of said act" while the 10th section thus
repealed required that the board of directors
should have been organized on or before the LIST
day of July, 1854 1t is believed that here is the
difficulty with this NJ. & NV. R. r. Co. from the
beginning, that they in all probability have not
complied with the provision, as it has not been
made known publicly, at least who their officers
and directors are, or whether they did elect and
organize them, by the time required and this leg
islation is intended, presume, to cure this de-
fault. 1t was this clause that caused the altera-
ton to be made in the act of Congress, whereby
We lost our lands. Mr.. Breckenridge, in his Off
cial report to Congress, says that .sThe parties
who were dissatisfied with the Minnesota Charter,
and who desired the grant to be thrown before a
future Legislature, wished the Sd section to be
reported from the committee, and passed by the
House in the above form while those who desir-
ed the company to receive the grant by virtue Of
| the charter, wished the word future before the
word Legislature to be stricken out, and the
word 'and' to be substituted for the word sor,'
between the words CONSTITUTED and organized"
This explains the reasons for the alteration, and
points out who did it, and why it was done, es-
pecially when We observe the 10th section Of the
NJ. & n. W. r. r. Co.'S. charter.
| Another section of the bill proposes to exempt
their lands from taxation until the patent issues,
and there is no other right of taxation reserved
to the Territory. Under existing circumstances
have serious objections to this clause. LIST. By
the time the patent is ready to be issued after the
completion of the twenty miles, the lands will
have been in the possession of our citizens as
purchasers from the company, and thereby cause
the settlers and owners to pay the tax and not
the company. In the next place, the 9th section
of the NJ & N. w. r. r. Co.'S. charter declares
property which will only be taxed where the own
ers and holders reside, unless you expressly re-
serve the right of taxation and it is clear that
this provision was to avoid taxation in Minnesota.
therefore cannot let 60 our right to tax their
capital stock, and all their property, both real
and personal: our fellow citizens are taxed on
all their capital stock of every kind and descrp-
ton instead therefore. of this clause bcttering
the old charter, far the interests Of our peo-
pie concerned, it puts the burden off the shou-
ders of the company on to that of our citizens.
| But let us look at the question of taxation in
another light. 1t has been proclaimed that we
have the right to tax the capital stock, without it
is expressly exempted by law. Suppose this to
| be true. BY declaring the whole of their capital
| stock "personal property" you can only tax the
stockholders who reside in Minnesota, unless you
expressly say it shall be taxed, and put clause
to that effect in their charter for personal prop
erty follows the person of the owner and can on
y be taxed in the county or district in which the
person resides. Then what remains for us to tax
belonging to this company under the extraordina-
ry privileges of their charter? The capital stock
| represents the rold, depots, buildings, machine
shops, and every thing which that capital has been
expended in making and constructing.
If the capital stock is therefore to be taxed on
ly as personal property, it is out of your reach
unless you secure its taxation by special enact
ment. -;
The per centage secured by the bill before me
is Objectionable, and it is not in the form should
regard as safe to the Territory.
The clause giving the right to alter, amend or
repeal after twenty years, is (by the last clause
making Minnesota pay all damages that the cor
poration may sustain thereby worse than if no
such powe. was given. The moderate doctrine is
now well understood among the public men,
that no corporation for the concentration of a
larger capital should have perpetual and unaltera-
BILE charters, and in most of the n England States
this guard is reserved to the people, as it right
ly ought to be. The people have an inherent right
to alter, amend, or modify even the most sacred
fundamental law at pleasure, and there is no
sound reason why they should not possess unlim-
tied power over every laws their representatives
may enact. But in attempting to retain this
right in this charter, the representatives have
shown their lack of confidence in the justice of
future Legislature and the people, by holding
the Territory bound in damages if they should be
inclined after, 20 years., to ask for alteration,
modification or repeal. 49,,
But allow me in conclusion, to ask whether the
representatives Of the people have any security
that the company will accept the amendments
proposed? Where is ysuri guaranty? What do
they forfeit, if they do. not accept these amend
ments? What pledge have you, and from whom,
that they will accept them?
In the ordinary business transactions of life,
men of capital do not consent without some con-
sideration to have their bond increased.
In looking at these amendments impartially,
am constrained however, to say they enlarge their
privileges, franchises and rights, instead of con-
tracing and limiting them.
LIST. The per centage to be paid the Territory
is the same as in the old charter.
I'd. The taxation of their lands, is postponed
until the patent issues, thereby throwing the taxes
on the purchasers and off the company, while the
old charter did not mention the subject and there