Daily Democrat and news. [volume] (Davenport, Iowa) 1859-1864, 1862-06-25

The great strength of this position, ana
be 10 free to a6nit that If the qoesuon
before % involved no other pr'ncip'e
than that Of . right construction Of .
statutory enactment, J . could no' ~
persuaded to disturb adjudicat,ons uo'
der which large interests have Deen ~
ouired. Bot, unfortunately. 10 bso P'nr
ion. this case does raise . question Of
much praver import, which goes nsck
~ tho .,.tnte. and which must md its
solution in the personal conscience A.u
judgment of each court, 10 we" o. ~
connection With, and bearing upon; tue
GREAT fuudame ntal and reserved 'gnt OF
the citizeo.
This brings us 10 another and mucn
mole important branch Of thi. SUBJECT
which has chiefly for it, consideration
the question whether the legislature can,
under any circumstances, pass . vano
law which will make it lawful tor
county or city in its corporate ca Paol'y
IN anhscribe stock in . railroad com-
The consideration Of this proposition
naturally refers itself TO the true theory
Of our State government, the nature OF
municipal, and the character and re-
sponsibil,ties Of railroad corporations.
II we can ascertain the relations be-
tween these several corporate bodies
and the inherent elements Of power on
which each ia founded. We may be able
to deduce the principle that ought to
govern in determining the question in
controversy.
We commence our examination Of
this subject, FIST, with what We under
stand to be some of the leading features
or characteristics Of q railroad corpora.
ton. under the laws of this State, TO-
gether with the rights, obligations and
RESPONSIBILITIES Of those who become
stockholders in such corporations, in or.
der to exhibit the bearing and Judicial
effect of q county railroad subscription
upon the rights Of individuals, tor, the
awfulness Of such subst rlption must de-
pend much upon the question whether
the reserved rights Of the citizen are or
are not iDjuriouely affected thereby.
l. A railroad corporation in this
State il not created by epecial charter
granted directly from the Legislature,
but is a voluntary association, self.or-
gan zed under general incorporation
act which confers upon them the ordi-
| nary privileges and franchises that be-
long to other private joint stock COM
| panies.
The general act just referred to-the
object, as we'll a. the mode of accom-.
pIishing that object-the law that regu'
iates their conduct, establishes their
rights and ixes their duties and liabili.
ties-show very conclusively that these
corporations or extended partnerships
are essentially private and not public
that they are associated capital in aid Of
private industry and enterprise, directed
to be sure, in this instance, to works Of
internal Improvement, but only as 8
means to an end which end is the max
ing of pecuniary profit in the business
of common carriers.
Then, agaio, the authorities showing
such companies to be private corpora
lions are numerous, many of which vii
be found collected in note by Redfielt
on Railways. page five.
| 2. They are contracts between th
State and the companies, which canno
be affected by subsequent legislative in
reference; no power of modification
change or repeal, having been retained
10 the law authorizing their formation
Kent PIP marginal. Subject to th'
) qualification, they are, nevertheless, un
} DER the control, for certain purpose
aud to limited extent, of the Geners
Assembly Of the State.
3. They are voluntary,-the cond
ton Of membership being the paymen
Of certain amount Of stock freely an
without violence offered to the will.
; will not be, as it has not been, contend
ed by any one, that the corporation j,
self, or any other power in the govern
ment, can resort to any compulsory pre-
cess to compel an individual citizen
. become member Of such association
, Like all other contracts, to become
) party thereto must be matter Of abss
lutte peasonal choice.
4. The officers Of these corporation
are elected, and business matters whic
! turn upon vote, are all determined
upon principle totally different fro'
the elective franchise as it exists undt
; the laws Of the State. Each member
, entitled to vote for every share (
ock be may Own, making thereby th
amount of capital invested by eac
/ member, instead Of the number of ind
5 v,dual notes.-the basis of representation
7 in regulating and controlling all its bu'
I mess operations and interests.
s. The final cause or object Of tbee
monied associations is to engage in an
, carry on the business Of common ca
riers. That they are such, see Red6el
on Railways, 234. 1t is said to be q
elementary principle OF law that all VII
carry goods or persons for all who 81
ply, are common carriers; and 40 this
the thing which railroad corporation
hold themselves out 20 do, it follow
+ that they stand before the world in tb
+. attitude, charged with all the hazart
and extraordinary responsibilities whic
8 attach themselves to this relation, sui
: jcct to the same laws which control II
I action and tx the liabilities of all 9th,
classes of common carriers.
1t is proper in this connection th'
: we should allude TO the nature aud e.
tent of some Of these risks and liabil
3 ties. ..s rs 81