Vermont watchman and State journal. [volume] (Montpelier, Vt.) 1836-1883, 1870-11-23

Inc pi knt UAilNNitN Ni NNllst NLNlilHA iif
bill, was read by the clerk
| Mr.. Kellogg Of Benson moved that the bill and
report be laid on the table and be made the spe-
cial order for tomorrow afternoon ut - O'Clock,
inasmuch a. this report was a surprise 10 him,
and he wished TO investigate the report before
acting on the bill.
/ Mr.. Ballard of Fairfax moved 70 add to the
motion, that the clerk be directed to procure the
printing Of the usual number Of copies for the
use Of the House.
| The motion to lay on the table was favored by
Mr.. Wood Of Fairhayen, Mr.. Ballard of Fair
fax, Mr.. Crosby of Brattleboro and Mr.. Bull Of
/ Hancock and the motion to lie was agreed TO,
and the order 10 print was disagreed b.
| The report Of the com. Is as follows
/ TO me Houss Of Representatives. nOir IN scssi0H
/ The undersigned. majority Of the committee
to whom was referred House bill No l6, entitled
/ " An act for the formation of Railroad COlnpa-
MES report that they have given to the bill such
consideration the delicacy and importance u
| the subject demand.
The 6ill involves a change in the entire railroad
system Of the State The old system is wiped
out and new one is inaugurated In It's place
| Such being the character OF the bill, we have felt
that the Legislature cannot proceed with too great
care and circumspection in its discussion and con-
sidemtion
/ # is now about quarter Of a century since the
commencement Of the construction Of railroads
in this State Charters have always been granted
I WIN llDerul hunu ny tlc I4eGshlufef WUtufNtf
and wherever the public interest seemed to de-
mand it.
Under the liberal policy adopted by the State,
railroads now traverse almost all its different
tons, north, south, east and west, and in those
sections where roads have not yet been construct
ed, it is believed charters exist for their construc
tion, when capital can be obtained 50 10 do.
At the same time it has been the settled policy
Of the S.e to keep within its control the exercise
Of 50 important function as a uilroad franchise,
10 reserve to themselves to say what railroads
should be built and when and where. II has also,
a. a rule, been the settled policy of the State to
refuse charters for parallel lines Of rairoad when
they would be injurious and detrimental TO roads
already in existence.
This policy was found necessary in order to in
yite foreign capital into the State, and It is under
this policy and the expectation and implied assur-
auce that 1t would be continued, that capitalists
at home and abroad have invested their money in
Vermont Railroads, and it is hardly necessary to
add that the money there invested has, as a rule,
! been very unproductiye OF wholly lost
/, is now proposed 10 abandon this policy which
experience has proved to be iudicious and sound
one, and to substitute in its place a new and uu-
tried one in this State, Of which those who have
already invested in railroads have just reason to
complain, and which, because new and untried
is Tor that reason more or less dangerous.
1t is proposed that the State shall part with its
control over the exercise Of the railroad franchise
anu tuhN IL Slthll w iAl-Nu III Ntlt HhiA1 VI bliN
twenty-five persons who may choose to exercise
3 il.
The argument in favor Of this change rests
chiefly upon the idea that it will save the necess-
ty Of an application to the Legislature for special
charters and thus save expense to the State and
prevent the strife and discussion which is some
times incident to such applications.
This argument has some plausibility but its
real force is not tatogetherapparent to US, because
/. The sessions of the Legislature are now
i. biennial not annual
2. Charters already exist for the construction
Of railroads in almost every section Of the State
where they can be built except where they are
parallel to roads already in existence.
= 3. The passage OF a general railroad law Will
not necessarily prevent railroad quarrels before
the legislature New York with It's large terri
tory, great population and immense agricultural,
position and characteristics every way different
: from Vermont, has general railroad law But
the strife and contention before the New York
Legislature in respect to railroad interests and the
immense expense incident thereto, have become 50
notorious as to need no comment
1t thus appears that it the old system contin-
ues, the State is not likely to be burdened with
expense by hearing new applications for charters.
On the other hand il the new system is adopted
it is BY means sure that these expenses will be
reduced, but it is probable that the Legislature
/ will be applied 10 year alter year to amend this
law in order to adapt it TO our local situatos and
circumstances to entirely repeal it, and thus the
! expense to the State will be increased instead Of
! lessened.
The argument Of economy as a rule is a sound
one but in Its application To this bill we think il
! has no force.
= On the other hand it may be beneficial to en-.
u Qure what use may be made Of this bill if it be-
comes a law.
: : Suppose stock opeiators in the cities desire tC
y get control affect the securities Of some OF OuI
l. slrI 10,
= ed by organizing a company under this law &
. build railroad parallel and within ten rods o.
= the road whose stock it is desired TO control OF
!; buy. 4 few thousand dollars spent in commenc-
y ing to construct parallel line would greatly de
preciate the security Of the other road It's stock
y would then be bought up and the new road aban'
Z doned
= 1t is more than possible such thing as th
= = might happen, and that it may happen is abun'
u a dant reason why the power should not be given
=, 10 accomplish it.
= Suppose again. that under the operation Of th
y law the management Of our roads falls into th'
u hands Of foreign stock jobbers as we have showI
they may Does any one doubt the rates wouli
- instantly be increased the accommodations lessen
I. ed and the whole management directed 10 one pur
- pose only that is, the realization of the mos
y money out of Vermont patronage, without re
spect 20 the facilities offered for its nccOmmoda
ton 4?
Suppose again that company is organizes
y under this law 10 build railroad in new section
~oo ~ of the State foreign capital be obtained t
- do it, when the people Of whom the money /
y sought are told that under the Vermont laws an
u other road may be built parallel with it and thu
- the whole investment he destroyed 1t is no
charters but money that is needed in Vermont t
:, build railroads, and il seems to us that the oil
m policy Of protection TO these interests will b
~ much more likely 10 encourage its introduction
= than new law which, while it strikes at old col
VI hold M a
Again, under this law any twenty-five me
- who organize themselves into company ma
" take the land or buildings OF any citizen or col
a. poration in the State for railroad purposes Ur
~ der this law it is lett TO their discretion ll0tel
e banks, churches, school-houses and every othe
II species of property are thus exposed. It seen
. 30 us this is a very dangerous power 10 grant b
y such sweeping provisions. Such company ma
e- be composed Of totally irresponsible person
!, whose motives may be entirely foreign from bullt
i ing a railroad. They may by the organization
~, a sham company attempt 10 affect the price
~ real estate to graily private malice or other ult
20 rOr purposes Under our present laws no man
~ property can be taken for railroad unless Il
l ~, State authorize it. No Omans property can be d
"' ken for highway, cemetery, bridge or schoo
- house unless upon the judgment of board
- commissioners some other public tribunal thel
;,r appears to be public necessity for it.
w. When such public necessity exists private pro-
- erty ought 10 be subseryient to public uses, bl
'"' the State or some public tribunal oug to
clothed with the power TO say whether suoh pu
lie necessity exists or not. This bill enables an
him to judge Of this public necessity, and fro
their decision there is no appeal. They mt
las Judge too of the amount OF property requisite
r- satisfy this necessity, and on this question the
Judgment is ordinarily conclusive.
I'd. These are a few among the many mprop'
on uses which may be made Of this bull If it becom
a law.
on II is desirable that Vermont Railroads shou
ON be retained under Vermont management 80 loT
as they properly can be, and the Legislature at 1
II early period aimed at this object By proyidlI
pe that no one stookholder should vote more thu
one-tenth of the capital stock Of railroad col
&c pany BY this law the large stock k-holders in Z
IN. cities were precluded from 0NerrlulhH tne si''
ones in Vermont, and thus the control was ke
in in the State.
Finally, we can see no demand for the la'
the As to all except parallel railroads the bill is OF
consequence, because charters exist or would
md Granted for sueh railroads without opposition.