Burlington weekly free press. [volume] (Burlington, Vt.) 1866-1928, 1875-12-24

BURLINGTON, VI, Dee 18th, 1873
7. rhs El.tof VI The Zee Press and Tia.s,
Ia the report of the address oi f = Col
t.n. i,4 to the " Patrons Of lInshaulry,
as gwen IN your issue oi the 18th inst ]
notice it i, boast on the part OF the Dran-
ger, that State through their iegisls
!urc- have the right 10 regulate. BY statute,
the rate, u transportation over our rail-
road. and canals. and that railways are pub
iiy highway, whether owned by State by
corporations OF private iadiyiiuals 4
person Interested t. a very small extent "a
railwa, corporation, am not Ii-pu>ei 10
permit this statement t. pas without chal-
lsuge A Il fact, il The INST plare, rail
wa,- aie GENERALLY bulk a. n matter ct sie,
ulation by M association Of individuals II
!, thought, t1r instance. that = certain ID.
tl.et II ouantiy. tJwn. or village Is al
want OF transportation iari..lie-. sud d the
building OF a road PROMISE 10 be- 4 laiic,oa-
undertaking, there are generally person, Of
me.u- t. embark III il Some oi these Gu
terrip-ss pay well " hale the history oi the past
two or three years show On the contrary
that many 80 not A. = general resuN IL
may be- stated that railway, neal lhe great
centres OF trade offer, generally lar re
t4rn iof tie capital invested in sparsely
POPULATED districts the contrary i the ca-eA
Bat 90 matter whersa railway may BE lycg
ted. the operation Of building it j. .egiti
mate operation. just a. farming or manutac
turing OF mining Is ami II State uiakes i
uaIgsIn with railway corporation ~ build I
read d, l. expected that both parties 10 /
the contract Will observe it, terms II 1
ihe state chooses 10 impose certain coni- |
lions u j. perfectly proper Tor it 10 DO -
when granting the road it, charter bat
after tie bargain is struck, it has no right
Whatever 10 violate IL terms Now this
the Grangers have done in one State. Wis
rousin In the first instance ofer~ were
usl. shieh induced persons here and there
to iu5sst lhBiF savings in railways IN that
State and thrp, altar these roads were
built certain Il past tacis laws were passed
prohibiting these railways to collect such
rates as are customary in the Western States
- As final result these las. have thrown
al the Younger corporations Of Wisconsin
int = .su1jti0n Of bankruptcy. Aud the
worst Of it II. g seems impossible to con-
vince the Grangers Vi .i.e.f eTror in this
matter. The railway commissioner u lh5
Stats reports that in the majority Of cases
the ycas,sy rpads were ouly earning from
3 to per osst. ~ The capital Invested
but il was all 10 no p1ris~'e TIE prineple
that the Legislature has right 10 pss-
.eribe the rates on railways could not be
absndo,..-. and it i only by an appeal 10
the Supreme coG.. Il the United States
that the corporations eIpecr 20 oh.s,n Justice
IN this matter. To give an instance The
railway in which happen 10 be interest
I'd has nr,st - get earned enough money 10
pay ihe interest On its Erst mortgage bonds.
and the action Of the legislature in , and
30 was such, that its credit is nov destroy |
I'll aud it cannot meet its obligations.
And although the doctrine may seem q
leret.s4l one, | confidently assert that
STATE hss u tight any more than an indi-
,idual to violate is obligations. U the in
.tance already spoken Of, the railway las
its part of the bargain fhe
-oad has been built, 4 new country has been
opened, The land along the line of the road
~, been increased four-fold in value, and ,
eady cOnEeysnss "a Afforded for ordinary .
arm products 10 market. lst the Grang
,rs now perform their part Of the bargain
hat IS to say. let them not seek to enrich
themselves 10 IN indefinite exteu. and AZ
b.. a.tne time sink the other party to the
l.ntraet in helpless bankruptcy.
saa. respectfully, your most obi serSt
BioATEp BoSDaoLDER.