The daily exchange. [volume] (Baltimore, Md.) 1858-1861, 1858-08-24

1t seems to have been the fate of the Baltimore
and Ohio Railroad, for several years past, to have
become the football of clques and parties and to
have suffered accordingly. Whether the line of
policy advocated by the private stockholders in
the Board of Directors, or that supported by those
other members of the Board, who are supposed to
represent in the management the interests of Bal
timore city and the State of Maryland, would be
most conducive to the prosperity of the road, it is
not necessary for us, on this occasion, to enquire
Our immediate concern is with the want of har-
mony visible among the members of the Board of
Directors, and with the injurious results that nat
urally flow from such evidences of strong antagon-
ism. That the material prosperity of the city of
Baltimore, is dependent, in large measure, upon
the prosperous condition of its Great Western Rail
way, is too clear to admit of any doubt whatever
If the road suffers from quarrels4among the Drec-
tors, the trade and commerce of Baltimore must
necessarily be seriously affected by eand it there
fore becomes with our citizens APPOINT of paramount
Importance that unity of effort shall prevail in the
Management of the Road, and that no conflict of
opinion should be suffered to interfere with its utili
ty There never was Railway commenced under
more fattering auspices than that of the Baltimore
and Ohio, or that met with more difficulties in the
progress of construction. The auguries of its
early friends have been more than justified by the
advantages which the city has derived from its
triumphant completion, and it is therefore with
profound regret that we find those whose duty it
clearly is to maintain the high reputation which
the roaq4nas already acquired wasting in acrimo-
NOUS discussions at the monthly meetings of the
Board those hours which should be devoted to
careful supervision of the working details of the
Road, its revenue and its expenses, the condition
of its rolling stock, and all the multiarious points
to be considered by body of intelligent gentle
men, occupying a position so responsible, and
charged with the care of interests so complex and
so extensive. How stands the case at present.
Four of the city Directors have resigned their seats
but their places cannot be filled by Others because
their resignation has not been rendered to those
empowered to receive it. Of the remaining
Directors, appointed by the City and State,
part of them are enlisted in favor of the measures
advocated by those members of the Board who are
elected by the private stockholders, and a part
stand aloof and refuse to cooperate 1t is the old
story of house divided against ITSELF and we
fear that one cause of this division of sentiment,
and point blank opposition of views, is-politics
Is there no remedy for this? Are we never to
have independence of action, either in the conduct
of our municipal affairs or in the management of
such corporation rs that of the Baltimore and
Ohio Railway? Are politics to enter everywhere?
Why, above all, should the political opinions of
every man be made the test of his fitness for a
place in which the interests of trade and not those
of government, are deeply concerned? If a domi-
nant party will assert its right to rule, let that
right be asserted within the limits of its appropri-
ate sphere. But, it may be said that with respect
to works OF public improvement, they are chosen
10 protect the interests of the City and State
Granting this to be SO, and that the popular idea
OF the nature of their services be correct it does
not follow that political partisans are the ablest
men that could be selected for such purpose.
They are usually men of extreme views, and not
unfrequently of narrow and contracted minds.
They enter upon the duties assigned them, not as
merchants, nor as tradesmen, but as politicians,
and with all that strong political bias which leads
them to weigh every measure proposed for their
acceptance not by its merits simply, but by its
party consequences. 1t is, moreover, simply ri
diculous to suppose that the true interests of the
private stockholders are antagonistic to those of
the City and State. That which benefits the road
benefits stockholders and bondholders alike. Now,
TO benefit the road, it must be prosperous; and if
the road is prosperous, how can the city be other
wise, into which it discharges its freight and
passengers? If on the other hand the road suffers
from acknowledgement, or from the opposition of
rival lines, or from any of the thousand and one
causes which have a tendency to affect all enter
prlses OF any magnitude, do not the private
stockholders suffer even more severely by rea-
son OF their holding personal risks, than the
public stock or bondholders2 That both sets
Oh directors may err at times, may be read
lily conceded; but that those who are most
deeply concerned in sustaining the value of their
Investment will be more liable to commit oravo or
rors than those who having nothing at stake them
are appointed to protect certain general in
terests, Is scarcely to be credited Let us not. how
ever, De misunderstood. We neither desire to coz
sutute ourselves the apologsts of one portion of
the Board OF Directors or the accusers of the other
win the reasons that have led to the unfortunate
uilerehces existing between them, we have no
WISH 10 meddleb but we cannot fail to observe what
every one else has seen for q long time past that
the introduction of politicians by professional
we may so term them in contradistinction to those
VINO hold distinct political opinions, separate from
partisanship-into places where politics should not
enter, has been already productive of much evil.
ana has never been counterbalanced by any posi-
1--WE good. The Management of the Baltimore and
onio halfway should comprise none but gentlemen
qualleu 10 undertake the duties which would de-
volVe upon them either by previous training or by
the magnitude of their investments in the road In
either case, the prosperity of the road would be as
sureu, while active opposition persistently main
famed among the various members of the Board
naS not only had the tendency to unduly depress
the market value of the stock, but is calculated to
,'lhict permanent injury upon our citizens generally
IL Is noble work. and one of which we have inst
reason to be proud 1t has already added incaIcu-
s 70 the wealth and population of Baltimore.
o-' ".'n harmony in the management, and inst
appreciation of what such work under the con-.
sfel u sagaeious and energetic men is capable Of
results in the future. t'''n gu" s'e"'e'
~ '' commencement of th;s ;o,,rnl It