The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1872-02-21
The Erie Railroad Bills-An Opportunity
for the People.

Tho Eric Railroad Bills-An Opportunity
for the People.
There are at present two prominent bills
before the State Legislature designed to
secure to the stockholders of the Erie
Railroad protection for their property
and restoration of their legal rights
the one, Senator O'Brien's bill, to re-
peal the Classification act and to provide for
a fair election of directors in July next; the
other, the Assembly bill, pressed by Attorney
General Barlow, comforting upon that officer
extraordinary powers over corporations for the
purpose of enabling him to institute summary
proceedings against the present directors of
Erie and to obtain possession Of their books.
The two measures do not necessarily conflict;
nevertheless it would be well to withdraw the
Assembly bill, which is open to serious objec-
tons, and to leave Senator OBrien's repeal
bill, which is simple measure of justice,
alone before the Legislature. Special legis-
laton is at all times Objectionable, and of
late years it has been too much the practice
of our legislators to crowd the statute book
with laws designed to meet special emer-
gencies or to accomplish special OBJ
jects. In the eagerness to effect
particular purpose no thought is given
to the mischief that may be done in other
directions. The present Attorney General
may be honestly anxious to reach the Erie
Ring for the public good; but to accomplish
that end he would place in the hands of
Attorney Generals of the State who may
come after him extraordinary powers never
before contemplated under our political sys-
tenn, and liable to be dangerously abused by
less scrupulous men. The repeal of the
Classification act, and the assurance to the
bona fde stockholders of the Erie Railroad
corporation of a fair election of directors at
an early day, would render the legislation
contemplated by the Assembly bill unneces-
sary. The protection of the stockholders In
terests would be secured without resort
to extreme legal proceedings. The Erie
Ring directors ask nothing better than an
opportunity to avert direct vote by the
Legislature on the simple question of the re-
peal of the Classification act. The reform
majority can justify opposition to such bill
as that now before the Assembly committee on
O dozen plausible pleas; but to vote against
the direct proposition to end the term of Office
of the present corrupt combination and to re-
store to the stockholders Of the Erie Railroad
the right to say who shall hold and
manage their property, Is to insure reputa-
ton as unenvable as that which attaches to
the debauched Legislators Of 1869. Not
single reform member can hope to justify
vote against Senator O'Brien's bill. To sup
port the repeal of the Classification act and
fair election of directors is not even to oppose
Gould, Lane and their associates, unless it be
conceded that they are playing the part of
freebooters and holding on illegally to prop
erty that does not belong to them. If they
enjoy the confidence Of the stockholders they
will be reelected; if they do not they have
no right to the positions they now fill. To
vote against Senator O'Briens bill is to vote
to confirm lawlessness and fraud, and no one
will believe that representative elected un-
der the banner Of reform would so grossly
betray the cause he processes to uphold with
out having been well paid for his treason.
| One-half the session Is now over, and up to
the present time, although the repeal bill was
introduced by Senator OBrien on the first day
of the organization of the Senate, vote has
been avoided. The constituents of the Sem
ators who are hanging back from the work
| !hV were elected. to perform gh9slA iQsiat