The Kenosha telegraph. [volume] (Kenosha, Wis.) 1860-1888, 1867-04-04

dollar could have been procured; for no sane
man would have placed his money wi ere
there was even danger of its being wrested
from his control Now we are called upon
to say Gentlemen you have planted mil
lions amongst US in the railway enterprises,
under the most liberal laws that could he
framed as an inducement and for your pro-
tectlon--although we accuse you of no VIC
latlon Of your privileges and can point to
no special acts Of Encouragement still in
view of the complaints made against yon,
the truth of which we have not investiga-
ted, aud concerning which we have given
you no hearing, we propose to divest you Of |
rights you may have supposed to be secure
and may have considered sacred. But you |
should have known that under our constitu- |
ton you could acquire no such rights. In
the exercise Of a power conferred by that
instrument we are about Passing a bill to |
annul these rights, and to repeal all parts
of any law which gave them existence
Hereafter The Legislature in the regulation
of rates for railway transportation, will con
troll the use Of your money invested i'll any
railway enterprise Of this state, according to
their view Of the Interests of the public, aud
without regard to yours You might pre-
fer to have the state take the property, on
giving the owners an adequate remunera
ton; but our reserved powers confer no au-
htrity to do any such act, however just or e
qutabIe; and even this remedy must he de-
MED
This is a fair statement of the spirit, if
not the language Of the legislation proposed.
1t may all be Ill accordance with liberal
and beneficial construction, for the purpos-
es and objects intended, Of the constitution
al provision i'll question: and the laws pass
ed under it, but we fail to see it. 1t may
be constitutional but we cannot so regard
it. 1t may be honest and just legislation,
but it don't have that look And if we were
called upon for policy by which capital
should be driven from the state, and further
investments, especially in railway enterpris
es, entirely prevented, we could not devise
one better adapted to accomplish the object
There are thousand miles and more Of rail-
road which ought now to be under construc-
ton in the state.
What is the reason the charters of the
land grant roads conveying grants capable
Of constructing the lines of railroad t~ice
over, are not eagerly sought after? There
is no more tempting field for legitimate en-
terprise III the world than in the Conslruc
ton of these land grant roads yet where
are the men in the state, who will invest a
dollar III them?
Their construction will add hundreds OF
millions to the wealth OF the state, aud that
is all thrown away, while the legislature
spends session after session devisiug means
to cripple the existing lines which have
been struggling into existence through vast
difficulties Capital is frightened out Of the
state Of Wisconsin by unpriucipled propo-
sitions and eudeavors by legislation to alter
al depreciate existing charters regardless
OF principles which are elsewhere acknow-
edged as essential for the protection Of prop
erty.
There are directions in which the people
are really oppressed by exorbitant exactions,
for the relief of which legislative action
would be just as legitimate as III the case
of railway Tariffs
PrlnceIy fortul es have been accumula-
ted all around us in the lumber manutac-
ture and If 40. aud the people III the pur-
chase and consumption Of this article have
been compelled to pay extravagant profits
aud prices. The paper manufacturing mo
uopoy ieVes its enormous gains upon eve
rs man in the state who writes letter or
reads newspaper And there are other op-
pressive mouopoes, many of them created
by and acting under acts of Incorporation
granted 10y the legislature Why then sin.
gle out railway corporations whose divi,
bends on the most economical basis of 0pe-
ration fall below the legal standard of inter
est, as especial objects of regulation and re-
ct 10
drawn from consumers of their products are
ten times ten per cent, or more, upon the
capital invested to escape entirely? If
these could be Justification tor legislative
intervention in matters Of this kind. it wo'd
seem to exs; here, and they who advocate
this character Of legislation, should make
the application In directions calculated to
afford the most relief. But corporate and
individual rights aud interests, as regards
tie use of capital Within prescribed and Ie-
climate spheres are ali to be respected
and protected. Unnecessary and unjust in
reference from whatever pretext or motive
of temporary expediency results in injury
only Any thing which tends to disturb
the basis Of obligation as regulated by law
or otherwise, So far saps the Foundations Of
public and private enterprise and integrity
aud detnoal yes aud weakens the state
Wisconsin for her growth Of population,
the opening of her varied resources and Der
uuexampled general progress aud develop
ment OF wealth, is indebted to her railway
improvements Her future growth aud i'm
portauce as state depend upon the same
cause. And no policy is more vital to her
interest than that which, while sacredy re
gardiug aud protecting the vested rights
aud franchises of capital now used in her
railway enterprises shall at the same time
give the most liberal encouragement aud
satisfactory guarantees for the further in
vestments required
With these views we report back here
with bill No % A, and recommend |
its indefinite postpone ment
How different you soldiers are from us, -
said Arabela to tue captain. With us IA
conquest only begins, while with you it |