New-York tribune., 1867-08-19

consequence VI SIilu Va AAANAD1ao NN
vote was taken.
THE PROCEEDINGS Oh THE CONVENTION.
Mr.. CHAMPLIN Dem., Alleghany) moved
the following which lies over:
Resolved, That the Committee on Preamble and Bi OF
Rights be instructed to report part Of the same the
nth Section OF Article OF the existing Constitution win
part Of the lands included within limits and ursdc
on of this state shall be ccded to any created
by Federal Government tO the Federal Govern
meut except for mail military, ana naval purposes eNolu-
siYey ana In such only upon the express cOndonS
that The right Is reserved to execute cv and criminal
process under State authority on such ceded tei
tory also the writ OF aDeas corpus on bchaI O any
person therein Imprisoned restrained of liberty.
Mr.. GRAVES Qep, HcrkimeI) moved reeonSidera
ton OF the adverse vote on the resolution OF MI r.
Brooks nstructng the Committee on Suffrage 10 inquire
into and report upon the possibility of requiring younS
at all general State, and county elections by opoh oao
upon the Joint report Of the Committees on Currency anu
Banking aud on Corporations other than MUNICIPAL MI
The &C., CHAIR Gnn0esG the % GIndns qSTS qPSEef DEM
Albany fOrbdding tho consolidation of railroad corpora
tOns when their capital exceeds $l5,0OO,O1O A., ia
not been properly presented The real question was as
10 whether it best TO insert in the Constitution an M
flexible rule upon this most important question AZ Ws %
better TO leave it to the Legislature. They were he
proper body to consider it. Ihe ConVeto 5d % " issue
proper data sufficient TO enable them TO decide @ nr
fntegently The objection made against Tan.otu Cod
SoSc The same dangers that alleged against con
sOlidaton may lie as justly against & t ~
permission for consolidation is given, Improper
influence win be brought to bear upon tue 10
,tion that f6r twenty wears TO come our Legislatures VIII
Ss corTnpt He did not believe in the assertion that
the same period of time these corporations VIII OpeSs
the people II 1t happens be true, it viii be in the
power OF the Legislature restrict these bodies and to
prevent any oppressive action their part He did not
believe that they prepared to lay down financial
rolcy for twenty years to come. The experience Of
twenty years past only brings us up to the present he
The increase and mutations OF commerce WI necessalo
great changes IL must be overlooked that they were
laying down law for one year or ten but ior many
years to come. Look at the Ocean Ielegiapn ana Ie
Pacific RaroadwhO could have fQretold twenty years
their inception and ~ Iserday as S the S gene
tleman from onondaga Mr.. Alyordl had shown great g
secured the connection and control OF the racine nc
road for themselves Chicago was now trying 70
and we should be interested turning the commerce that
she shall receive into channels that will bring TO our
Considered when we are called upon to decide queS
tion of railroad financial policy that shall last Tor 20
yenton knew more upon this point than the legislators
who shall m these halls for 20 years TO come Above al
fundamental law Of the State.
Mr.. WAKEMAN rep, Genesee) favored the amend
ment of Mr. Parker, and was opposed to consolidation
Mr. FLAGLER Rep, Niagara) approved OF the object
sought TO be attained by the gentleman from ALBANY Dn9
any practical result He would prefer an amehe
any railroad except consent of all the stock
holders He thought that consultations Were always
formed the expense Of innocent stockholders He pro-
ferred limit by the interests Of all parties concerned
This would be the safer plan.
Mr.. OPDYKE (Rep, New-YOrO was opposed to a sub.
sftute which was intended to promote the interests Of
stockholders This gives protection 10 the interests OF
SH @ nr he en- n hst the d his argument would
lead wholly from relying upon the experience OF the
past He thought it right TO restrain the consoda-
ton of capital .
Mr. GOULD CRep.. Columbip held that the great
mOnopOzng railroads OF this State had acted lIlOusy
upOn interests Of the people. The Hudson River ana
Harlem Railroads able 10 dictate to the towns an
along the line of the road, whom they snail SEND 10 te
Legislature The politics OF an tne 9npoyeS .Soy No,d
be checked. He favored Mr. Parkers amendment
Mr. PAIGE Dem, Schenectady said the question was
great railroad lines State could bc managed The
capital OF the NeYEork Central is S29OCOVV anu ls
funded debt Sls,ooOOoO The Hudson RVer baioad s3d
and Harlem have each capital OF $6OOOO ana fuded
debt of as much more. Add the Erie, and You Will run
the aggregate capital above $00OO0OOO The question
whether this enormous amount II eosonut.eu, VIII no
and head When they regulate the taIl OF iTclghl
and fare, will they not be able TO work injury TO the
imperial city Of Newell I3S y life SDSf Of fao W b
the mOneyed Qe would not say pohileaD mnu-
ence OF this mammoth corporation Couid any
Legislature withstand III The great demand OF MT Jay
issthat restrictions shall be placed upon the powers OF
the legislature He believed that some such restrictions
should placed I'm the Constitution. Again, water trans
The benefit OF the consumer Nowif you consolidate rom
Buffalo 70 NewYOrk they viii endeayOr 10 ignore the
water carriage II this consolidation goes on 10 VIII COM
bine with Chicago Combination means q contract 10
operate without any break in freight passenger trac
lie could what possible benefit could arise from
consolidation. On the contrary, it would be easy 10
change a mOneyed power into great political power.
For this restraint should be placed upon them
Mr. HATCH (Denl., Erie approved the amendment or
Mr. Parker. II struck blow at the greatest ey Of the
day, viz, consolidation.
Mr. HATCH moved that the Committee now rise and
report progress. Carried by q count Of Al to 20
The Convention then adjourned to Monday morning at