The new North-west. [volume] (Deer Lodge, Mont.) 1869-1897, 1873-03-01

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The Hoass having under Confederation
The bill authosizimx the Wyoming anal Non
tans railroad NJ. hOsr said. NJ. Speaker,
shsrs have i,esn many public discussions In
regard to The oDnduct 1T great railroad tOr.
p..ra'ioYs chartered by an act Of C"ngres
Without expressing any opinion rs to the
prOpsiety Of the conduct of persDus cOnncc.
led with these institutions, the investigations
have gone far enough to sh.'w that Con grese
itself has been grossly reMiss In it, duty
when II created them. The ordinary safe.
guards which every State puts into 10 sets
Of Incorporation, either by general orspecial
legislation. have been wholly omitted, or
nearly %, in many vi the acts of incospora.
ton pSssed here. They ore brought before
10 crude. hastily drawn, incomplete, and
passed with little debate. and yet they are
IL he the organic law for great routes Of
business and trnfIlc for all time u come In
those Territories Tow being rapidly devel.
oped. They ought to be scrutinizsd with =
care like that with which We scrutinizs the
constitutions Of tho States Of which we are
citizens.
Now, there 10 not State in this Union
which would Incorporate . railroad com
2any without . provision that ito capital
provision securing the public against abuse
Of ito franchise, directly or Indirectly, by
having the computations, who have got pOs.
session of it under guise Of attorney OF 9th.
erwise, get into their irresponsible contrib
the entire franchise Of the company.
Nothing Of that kind IL found in this bill.
II 10 . simple authority to receive corporate
powers to construct great rsilrDal In what
are to he In the future two great States.
There 10 not the slightest safeguard against
abuse provided for In this bill. hope il
will BIZ laid upon the table.
Mr. Potter. hope the gentleman from
Pennsylvania will yield 10 me for . mo-
ment.
+ Nj. Hoar. As have stated before, this
bill does not require The payment BY any
msn In that enterprise of . single dollar Of
his own money. It does not provide when
the capital stock shall be paid In it shall
be al again paid out In dividends, leaving
the rOad bankrupt, swindling the commu.
nifty. and putting burdens and disgrace upon
the State where 1t exists.
Now, without going fully. In the i've
minutes allowed me, into twenty other
points OF the same nature winch might be
!
another act Of Incorporation until there has
first l,een decided by the Committee on Ju>
dietary or some other competent committee
carefully, strictly guarded, and secure
system which We can sdopt ~ the settled
pulley Ut the country On this question.
Mr. Potter send 10 the Clerks desk an
amendment which desire to have read, and
which ask the gentleman from Pepnsyl.
vania Mr.. Packerl u allow to be considered
pending; and ] shall then ask him To yield
me few moments In which to speak to the
bill
The Clerk read Is follows:
Add |" the bill these words - . separate
section:
All persons who arc stOckholdem iu the
said company shall I've jointly and severslly
liable for oil debts to laborers or opcratocs
Of said Company.
M. Packer.--I decline to admit tho
amendment.
Mr.. Chsffe Il would like to ask the gen.
tleman from New York one question, and
that 10 whether he IL Ia favor 1T letting the
pcoplc Of the Territories build their own
railroads with their own money?
Mr.. Potter.-l am Klsd to answer the gen.
tleMan from Colorado. though he hes -.
eumed was going tOoppcse this bill bafore
aaid = word on this subject. am exactly
In favor of the people Ut Colorado building
their own railroads. and ana also in favor
Of their Incorporating companies to build
them, 1t they want corporations 10 build
them. But ! nm opposed to the creation by
COcgTess, without Limitation, restrsint, or
due consideration. Of artificial persons that
never die. authorized to accumulate proncr,
~. and preserve aud hand down in perpelu.
sl succession their accuMulati0ns forever.
When this Government was formed one
Ut the principles upon which Il Was based
was that there should b no class Drivilssed
tn hand down accumulxtiOns Of property
And N our fathers put into the Federal
Constitution provision against nobility:
aud every State passed laws against entail
and primOgcniture, and like limitations
against perpetuating accumulstions Of Drop.
erty.
In every State of the Union q man NAV
accumulate property during his life. o. much
- he can. But aimee God dues not give 10
men the capacity " carry with them out of
this world the property which they have &C.
comulated In i, they sre dependent on poe.
Tive Law for the preservation Of their accu.
mulstions after death and the wise policy
OF these States has been 10 provide that no
class should be privileged to perpetuaie the
~
oil this wise policy the legislatures Of the
country have gone on reck lessly and heed.
lessly and created these great srtiiicial ner.
e0ns that never die, until We have In The
United States In these monster corporations
the most dangerous and PRIVILEGED claas ,hat
exists In the whole world. And one of the
heslthiest signs Of the times 10 when mem.
bers ut this House, like the gentleman frvm
Massachusetts Nj. Hoar] II last begin 10
see that this action Of Congress in creating
members ct this privileged elias. 10 danger,
Ous. II corporations are 10 be created at Ill
they ought q least 10 I've made subject Ia
wise rules, 70 careful restrictions. and he
chartered With come regard for the inierest
Ut creditors and Of the public, and be sub>
Jcctcd aJsO To some restraint on the mart Of
Congress and the Ststes Othsrwjee Ne afe
creating IN aristocrisy, II seems 10 me. Of
the w0sst and m0st dankes0us kiud--vorse
than the afis,ocracy Of natural per,ooe. h.
cause these corporations never die, because
they have neither soul nor conscience. be.
cause trDm the nature 1T things they can
hardly ever he managed In the public inter
cot o. tor the public g.n,d. I therefore
heartily agree that this House, ard Congress
itself shall stop making corporations eyo, in
The Territories until snme wlss and carefully
eaerded system on which u charter them l.
lid down.
4 SDesinsa 0IAalay.
There 70 quaint device known ~ Chi.
nese puzzle. One carved sphere Of ivory 10
'oaod With" another ill the eye cannot
penetrate the scccsses Of The toy. What
sh's gimcrsck 10 In tho child world the IN.
ION Pacific Railway 10 In the realm Of fr.ud.
No doubt there are many like compsn,es
just - bod, bat In this the badness hes been
recently brought into prominence, and IN
exposure thereof may serve to point 90 n.