The St. Cloud journal. [volume] (St. Cloud, Minn.) 1866-1876, 1873-10-09

IAic Piactlcaoie, lucy DecoMe necessarily
subject to legislative control, to an unlimit-
ed extent But such a mode of operation
is demonstrably impracticable. They must
be reclothed with corporate power. They
must apply to the State for this reinvesti-
ture. The State can regrant upon
such terms as it chooses to impose. 1t can
prescribe as conditions Of the grant that it
shall exercise the very power which the
companies say it cannot exercise now,
claiming, as they do, that the immunities of
which have spoken are vested rights, in
violably lodged in their corporations by the
chartered compact which called them into
being. Or if they choose to .reorganize un-
der the general laws of thel State, then the
power of the State is undoubted to the ut
most extent which the people under the
smart of unbearable grievances, can claim. |
I am perfectly satisfied that there is not
railroad company in Minnesota whose fran
chises are not subject to forfeiture for fla
and abuse: Such forfeiture will possibly
leave the State free to change the present
system whereby taxes are committed for
tribute money, and it would most undoubt
eddy vest in the State full power of control
over these difficult questions of rates, con-
solidation and competition. l know that
the companies, when this sweeping remedy
has been threatened, threaten in their turn
10 meet it by drawing off trains and by
other vexatious retaliations. Such acts are
further acts of abuse which will make the
remedy more certain and complete. Pend
ing the judicial proceedings in which the
remedy is sought, the courtcould secure the
operation of the roads by sequestration and
the appointment of receivers to operate
| them, pending the litigation, just as the
Southern Minnesota has been operated for
| the last ten months by Mr.. McIlrath, the re-
ceiver appointed by the United States Cir
cult Court.
This remedy is no new device. 1t has al
ways existed at common law. By the stat
utes OF Minnesota, upon complaint filed by
direction of the Attorney General, any Dis
trict Court has the power to restrain by in
| junction any corporation from exercising
unlawful powers, or any individual from
exercising any corporate rights not granted
| to them by law. By these statutes it is the
duty of the Attorney General to bring ac-
ton in the name of the State, for the DUR
pose of vacating the charter, or annuling the
existence OF a corporation, whenever such
corporation,
First-Ofends against any Of the provis-
ions Of the act or acts creating, altering or
renewing such corporations; or,
Second-Violates any provision Of law by
which such corporation forfeits its charter
by abuse Of its powers; or,
Third-Whenever it has forfeite d it priv
ileges or franchises by failure to exercise
its powers; or,
Fourth Whenever it has done or omitted
any act which amounts to surrender of
its corporate rights. privileges or franchises;
! or,
Fiflh-Whenever it exercises franchise
orpriyilege not conferred upon it by law.
Such are the vast powers of the State I'M
der the one head of remedy.
It is amazing how history repeats itself;
and 1t does sometimes seem as if
there is no new thing under the sun.
! fhon hun
pany of English adventorers, partly by
force, partly by fraud, planted themselves in
East India. They gradually acquired COM
mercial and political supremacy over a
country larger than France in area and pop
ulation. 1t was land into which from a
time antecedent to all history the precious
metals had been flowing in an unreturning
stream; 1t had literature, philosophical,
poetical and dramatic, which was old when
Homer was babe. + was the seat of the
highest type of oriental civilization. In
many of the provinces every instrunentali-
ty by which human industry works out
material greatness was in full and active
play. These private subjects, just as the
corporators of the modern railroad COM
Parliament of Great Britain corporate fran
chises, under the authority of which they
used their relations to the new.land for pur-
| poses OF private gain, and ut the same time
exercised functions of government and SOW
ereiynty. The result was that in few
years that opulent country was reduced to
beggary and desoaltion by the extortionate
rapacity of the corporation. Little by
little successive concessions of govern
mental power were obtained from the ma.
tive rulers and from the home govern
ment, until it was found that all of the
essential elements of sovereignty had been
transferred to board of directors which
held sessions in London, as modern directors
do in remote financial centers. This board
made war and peace and carried on trade.
It established a plant judiciary, committed
in advance to the sanction of all that the
gluttonous rapacity of the directors could
crave. 1t had in the person Of Hastings the
finest and most INSCRIPTIONS administra.
tive talent, and in the person Of Give it
commanded the most pre-emin >nt military
genus. The outraged people of Hindos;an
for redress in a voice which re-
sounded across the sea, and at last
pierced the dull, cold ear OF compla-
cent Senators. The company, setting an
example which modern companies have fol-
lowed, opposed to the reform which was
threatened the pretence that it was conse-
Grated to immunity in wrong doing by the
"vested rights conferred upon It by its
charters. This proposition was opposed by
the massive understanding of Fox, and by
the magnificent genius of Burke-that most
marvellous of men who has lived since Fran
els BScOn-Wh0se oceanic expanse of
intellect circumfused the most remote lands,
the most alien interest, and made their
needs and their resources such perfect in
gradients Of his own mental organisation,