New-York daily tribune. [volume] (New-York [N.Y.]) 1842-1866, 1865-04-28
Veto Of TIE Eiii Authorizing nm rucr~a'e
sGToils or PIsuk and y arnpike Roads

STATE OF NEW YORK. EXECUTIVE nRt'T }
ALlAAI. a. prl -. ls,5.
l To THg SENATE: ! respectfully return here
tu.th Senate bill No iOi entitled IAN Act 10 authorize
Plank Rood Companies and Turn Ike Road Companic'
to eemsrd and collect additional .olls" without ny
Eppproygl.
l Ire present law IN relrtion to turnpike ard plank
roads espc cia to the former the result oi year,
Of observation and experience. aud an average u
toll was established which was regarded rs fair com
pensatiJn 20 corporations for the belen which the
public derived from such investments. Capitalists who
bult roads under this law doubtless expected. in one
way or another. 70 rep fair compensation for thu
tcapits employed But neither the Legislature III,
public guaranteed this. They. knowing the rates
Invested ut their risk, and with the result,
that characte ize almost every system Of Investment
Many roads in eligible locaii0ns nnGer good manage
ment did pay fair dividends; others were built
no reasonable expectation could have al time hes
cntertainel Of prot from the investment, other thar
the convenience of the people The ilrc and tho In
orease IN value Of property IN tie vicinity Not uniie
qrenty the rapid development Of section has made
ai the djnereDce between d pom insosiInent aud
good ono.
On tho other hand the changing currents OF traffic
have many instances nau h the sang un,
I and iggtly founded expectations of profit
The Legislature has not refused 10 take cotton IN such
kcxgaordIIaly cases. It's general legislation has MOI
been regarded fixed end Interchangeable br IL has from
time 20 time granted special relief adar ell 10 the pccn
isr circumstances Of each case Ills r. last within
proper limits The public. while prucci7g itself iron.
undue burdens aud imposition, should Coal Eberali,
with fhOse WHO nix their capiia for It's benefit Bat
y
application us the one Which defines tie o
toll
md this change is not clairsed ~ the result o.
selae OF years OF experiment demons rating that TIE
present rates on fair average TOO sneil-nP,n
such experience that which resulted in establishing
tho ~ esent rates, but Is prcdicaed upon the Dividend
an led TO suppose OF single rear, and that year
most extreme aud exceptional Any system Of per.
anent Investment which has paid during The Last Year
or two, sn per cent net piOif, must under Ordl,fy
Circumstances have declared very handsome dvicenus
Tie Injustice Q. such rule would 10 very clear 70 t,ese
cofp"'0tiOnG TIE pubicWith equal right Ia tl,s.e
matfIE-shOod insist that tie rats of fare should be
adjusted Will re.esoEce 10 year u unparalleled psos.
peiIy ald Large gains.
dealt I'll ILLEGALLY but lewis ias interests of tn
public ehOud he guarded with wut.hfl care Ca
pOTatIOs arc, foW their very nature powerful a. ia
Euepoe and conf ro and are in wee deyoi az tb.
selfish conn q human nature They are nsnollr
CON posed II the shrevhest business tsenis az con
,nuLity-sOmInaLuirg comparatively fs.ge suoguas al
capital redaced - uniy Of purpose add action ont
prepared % tstc ironIt advantage Of every cicun
alsnOe ia TIKI Jayor. .
On the otter hand takes time 10 direct the uni,eJ
etted0n Of o1mm.iuity to any seton Igoposed viii
reference 10 ia uiefosts. and lol2r Zine > oIlal
irhLc seTtirt ihts "a power 81 reaistssce. lest
sp,i iaiion Offtese cia. secured tie ircorp ls,
40 t.s CoastitGs on OF clause roqsi ny 80 alton
20 be orgaBDed wal refsrenOs 10 &c "''ll iw rhe:
sale c1as:dsia sion ior toe SAFETY u ~ n y
IA no, deisands that q tsA,ngc IN gc~ 81 iW ~ I4su
htict stOtd NJy be the ieslh u cxterd, ..
ler.eEoc.
n Impossible adjust nv Iegis ation &c ,oome
dcrre' ff''n permanent Investments In ttu 'e iLee
10 tao latSiols Ia u price 81 l~gI Or pf iaI i
ihts ia d. y rtGellg ef ted W =. lrrout 80.
nornt- rCf' ... - ~ ased blyafe b., "a fie :
irc~ = - rLd Kyit 'rclu'tolsby w "a =
Ia +i1?l pi ne ."'t youI yesfg Gait 81 40 vii,
hszo b. Jng in pHs i3dlth pppan is, pos a.itv aa4
Ia TIE next threaten diSiser AMI ffia T. sflu-f
eycy business interest ~ tLcCpu8tIg. flt irr4.i' 1
,bilo p,!.nauciL m'tsHnrts hon such esl.sMes j. (