, 1873-04-05
GOV, BEVERIDHE'8 gpEEOII.


GOV. BEVERmGEB SPEECH.
Gov. Boyoridgo made briof speech to tho
Farmers' Convention, ut Springfield, on Wednoa-
day, which Ia to be commended for the tono Of
imparttality aud gravity which tho speaker
adopted. Thcro was undoubtedly temptation
to give vent to crude and reckless uttorancos on
tho subject Of railroads, and Gov. Boyoridgo e1-
hibited good Judgment md temper In not yield
ing to 1t. When ho announced his intention OF
bcing tho Governor 'not OF any ono of these in-
toresta, but OF tho ontro nterosta Of the State Of
Illinois" ho laid down on excellent rule for his
administration, tho observance Of which will DO
the ruloot safety well as Of equity. This prnci-
pie, moreover, gavo greater forcc to tho Govorn:
ors declared Bympathies With the movement
against tho oxtortions and un lust determinations
Of tho railroads, md itnduoes tho belief TINT his
| personal influence will DO exortod in way TINT
will enforce tho will Of tho people In lawful
and regular manner.
Gov. Boyeridgo exceeded Ills duttes, how
ever, in predicting that tho timo will Soon como
whom tho principles Of tho Dartmouth College
decision will DO tudioially royosscd. Tho Coy
| ornor mny DO right in this prediction but we
venture to suggest that before that decision ia
reveraea MI othor romcdics for existing OWLS wl
have been exhausted. It ts Just now highly un-
popular to refer to the Dartmouth College do
ofaion except In terms Of donunciation, aa though
it were something akin to the Drel Scott decia-
ion. It is spoken Of solely in reference to tho
railroad question and 1t Ia popularity understood
that revcrsal Of tho decision would bo ehort
cut to cheap freights-and that that would bo
the end Of 1t.
Dartmouth College was endowed by m Eng
liahrnan in old Colonial timey. It received a
chartor from tho Government Of Great Dritain
which exempted its property from taxation.
Whom tho independence OF tho United States
Was achieved, it became corporation OF tho
state of Now Hampshire. Tho uqw State Coy
ernment proposed to change its chartor by max
ing its property subject to taxation. Tho Col
lego resisted tho tax, and the caao found it's way
to tho Supreme Court Of tho Unitod statos,
whorc 1t was decided that tho State Of New
Hampshire could not alter tho torms of tho
chartor without tho conaont OF tho corporation,
Among tho principles Of law laid down by this
decision aro tho following:
Efrst-It ia we'll sott1od TINT Legislative nets
diyesting corporation Of any rights with which
1t Is clothed by charter aro void under tho Con-
stitntlon Of tho United statos, az i,npairing the
obligation Of contracts.
Second-Tho objects for which an incorpora-
ton is created arc universally such as tho Gov
xriA +n
beneficial to tho country; this bonont rnnati.
tutcs tho consideration, ana, in most caBoa, tho
solo consideration of tho grant.
To rovorao tho Dartmouth College decision
would be to oyorturn tloso principles Of Inv,
To ovorturn these principles of law would bo to
deprive all Incorporated companies, wl,othcr for
banking, life insurance, flro insurance. etl,,ca-
ton, religion, charities cemeteries, rail-
roads, steamboats,, canns, manufactures, or
what not, Of their legal baaIa. Whonovor |
two or moro persons aro associated |
together undor chartor from tho State, they
bocomo corporation, whether tho purposes of |
tho organization are religious, eleomosynary, Cd
ucational medical, or commercial. All contracts
which arc made with corposation-all it's ill., |
bialtoa-aro bascd upon the faith Of tho ohartor /
or act Of incorporation. II It wore lawful for |
tho btato Legislature to alsor or modify tho |
chartor at will ouch right not having boon re-
served in tho act Of Incorporation, tho contracts
OF tho corporation would hayo no loyal force. II
tho right to alter tho charter Is roHorvoa thon
tho stockholders aud crelltora understand whit
they arc about, and cnnuot complain IT tho right
18 exoroiBea, thoug. in point OF fact 1t ie seldom
exercised. Wc cannot recall IN Instance in tl1a
country whore clartor has boon altered with
out tho consont Of tho oorporators. Whom poo
Pic ta't about "the croature being superior to
the creator" they aro oithor doceiyol themselves
or arc seeking to deceive othora, by cunuingly-
devised words. THU is q plzaao Which It is