New Orleans Republican. [volume] (New Orleans, La) 1867-1878, 1873-09-04
CORPORATIONS AND THEIR DANGER.

| The great speech" of Governor Booth,
OF California, presents on perusal pothing
OF very marked ability, and very little
pathos which may move the emotions Of
distant and disinterested reader twas,
however, received with uncommon marks
ofapplause by the audience. Torealize the
force of this speech one must go back, in
imagination, to the time when the Missis-
sippi, the only highway of New Orleans,
was infested at its chutes and islands
by river pirates. who killed and plum
dered all unwary navigators. It may
well have been that the population
of New Orleans would assemble to hear
with acclamations some fervid orator
describe the cold ferocity Of the robbers,
Or the criminal neglect Of the government
which allowed them to prey upon life and
commerce, for California is connected
with the other portions of the Union pre-
cisely as New Orleans formerly was, by
single way of communication, and that
way has been seized, and infested with a
set Of robbers SO audacious, so entrenched,
as that the whole people suffer by their
exactions. From the naughty president
to the monopolist train boy, who
awakens the passenger at midnight, 70
thrus. under his nose basket Of pea
nuts, or dime novel, it is che grand
and systematic swindle and oppression
Can we then wonder that a speech con-
tanning nothing absolutely new, or ex-
pressed with any peculiar felicity should
have been received with cheer upon cheer?
1t is the old war cry of the millions against
the monopolists. 1t is the Philstines who
have bound the popular Sampson until he
writhes in his withes, and whether the
captive shall stand free and redeemed by
his own strength depends upon the innate
virtue OF his manhood. The explanation
of the device by which the ring acquired
the control Of the great highway and it's
incidental influence is simple enough. 1t
is like the explanation Of Mr. Hercules
Houssah as to the manner in which the
ropes are tied and united by the imposters
Of the dark seance. First, there is
the audacity that walks boldly into
the halls of legislation with an
act Of incorporation, and without a
dollar Of paid capital. Next, the stupidity
of kravish legislators who steal from the
State or federal treasury large sums, on
commission to be paid them from the pro-
ceeds Of thGr own villainy The ring
procures tie largest subsidy possible.
With the smallest possible share of this |
public gift they build the work, and the
difference between the gift and the cost
constitutes the dividends Of the corpo-
rators. It is very common trick, only |
played on larger scale. An obsequious
agent gains the good will Of a careless |
employer. He is entrusted with an ex-
cessive sum for the purchase of needed
supplies. These he buys at the lowest
possible rates, not impossibly Of the shod-
diest material, and pockets the margin.
It is trick with which many commissa-
ries Of the late war were perfectly familiar;
il is practiced by many dishonest servant
on the market money of his employer.
Such was the organization OF the Pacific
such the origin Of the Credit
Mobilier and such we may add was the
theory upon which the Chattanooga rail-
road was founded, although the resources
Of public faulty were not available to
.he extent expected by their proprietors.
We will not follow Governor Booth
through his exposure of the enormous
niquity by which these public robbers,
having enriched themselves by ''divi-
lends Of as clear ''swag" as ever a
orger or burglar got away with. They