The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1873-07-16

districts through which It might build its national
trunk freight lines, leaving the rest OF the coun
iative interference to az rates or transportation,
there are two 0bjections-the rights and interests
dangered and the people cannot be CO. to
pay more nsr the railroads to acceW An
there there is the danger or oorrppvS wealth S
always exerts on public afrstrsk s,re 10 every
probability that hail. 4 4 xsFe onoa sstsa that ran.
legislation, the people would have greater cause
Tor apprehension than the corporations. All that
y wanted Is plain rule Of evidence to throw upon
the railways the burden Of vndicatng their claims
whenever they are disputed, and such legislation
as win enable US TO ascertain the COST and actual
value OF railroad property so as to decide upon the
ably entitled.
all laws fixing the character Of the stocks OF rail-
way companies as personal property must be re-
pealed, SO as to prevent stock gambling and the
attendant evils, Governor Palmer made the most
significant utterance Of his speech, which was
loudly cheered:-
''The time will never be again IN Illinois when
the popular demand for justice Will be silenced Dy
quoting ancient precedents Of stupid concessions.
Inc corporstors who control she railways OF the
respect 60 their rights their duties to the Others
They have organized to engage ia an important
privileges bound themselves By new engagements
TO obey the law and discharge the duties they I'M
SON Then relying upon theories Of
constitutional law, they have arrogated to them
selves vested right to defy the popular WILL"
TIE INvI0LABILITY OF CHARTERs AS CONTRACTS.
This slant at the Dartmouth College decision OF
the inviOabily OF charters as contracts "a princi
pie recently and strongly afnrmed by the supreme
Court IN the Whining ION and Weldon Railway easel
was followed by significant reminder that the peo-
pie had 1t In their power to prevent or remedy Oil
thiSin other words that they should 60 on and NIL
the supreme Bench as they have nled the limos
judiciary. The hearty manner IN which the allu-
sion was received shows that the advice was agree
able and would likely be followed.
The speech OF Mr.. s. M. Smith, Secretary and real
Pontiac. and excited much Comment. though gen.
eral satisfaction. Mr.. Smith has always been
consistent republican and Is understood to De .
prOtectiOnist. He has been well abused Tor run
ming the Illinois oranges in the interest OF the re-
puDlicans and earned much notoriety as the engi-
neer of the movement that undertook to repeal the
anti-tar1f and salary grab resolutions at the big
Springfield Convention. Be that as it may. ne
placed himself SQUARE on the record yesterday 70
Mr.. Smith first dwet on the causes OF the farm
ers' movement, which he declared to have been
the conviction OF the farmers tnat their class
Alone Of all classes IN America, was steadily going
behind while ali others were receiving fair remu-
their crops barely paid the cost Of production,
some less The idea OF union, to overcome the
greatest and nearest OF the evils,
THE RAILROAD ExTORTIONs,
was not at first favorably received, hut now the
movement had attained national Importance and
had proved the lallacy OF the assertion That farm
ers could not unite, like members OF other indus
trial classes, for mutual assistance and protection.
After further dwelling on more local or personal
features OF the movement, Mr.. Smith came to
touch upon the political relations OF the grangers
THE PRESIDENT DENOUNCED.
After adverting to and condemning the financial
policy OF the government Mr. Smith came to the
salary grab and, for the drst time in the political
history OF the year, coupled the name Of the Prest-
dent with those Of the grabbers. He said -
PARTY has given us Chief Magistrate who, in
stead OF using his influence to stay the tide OF
ruption that is debauchng every branch Of the
public service OF the country, and protect us, by
the nterposition Of the veto power from this foul
wrong, could not himself Withstand the temptation
OF private gain.
Thanks for this lesson, it will teach
10 after ages more
Than high philosophy preach,
And vainly preached before
That spell upon the minds of men
Breaks, never to unite again,
That led them to adore
These pagan things Of sabre sway
With fronts OF brass and feet Of clay"
These were the important passages of the speech;
the expression OF the determination OF the
farmers to form new party; their confidence OF
success, and the including OF General Grant In the
censure passed upon the salary grabbers. Com
ment and anticipation now belong to the editor,
not to the correspondent.