The Manitowoc tribune. [volume] (Manitowoc, Wis.) 1866-1878, 1876-01-20

that the decision OF our Supreme Court
Will be affirmed. It will be admitted
by all thaa this power is one Of vital
Importance, requiring for its exercise
great care and judgment.
1t cannot be denied that .he existing
laws, passed in the exercise OF this
power, have, either justly or unjustly,
| impaired the credit Of the state and Of
its individual citizens in the commercial
aid financial centers d She word, With
immense resources undeveloped and q
consequent need OF capital from sources
WHARF it IS u excess, the people find
capitai repelled by Legislation which
Woala seem 10 be SO far in conflict with
the rights Of capital as to put the best
! interests of the people themselves at
heard.
.!''.-t such legislation should have
eze 5ed unfayoroble comment IS not
si1. So 8 That capital has been invested
in 5lle b. ing Of railroads; tha5 they
Gro in daily use III the service Of the
peaple; chat such use pays nothing 10
It's owner; that the owners are compelled
by law TO permit such use, and are de-
priyta by law Of the right 10 say what
y
to III observers. It must not be for
gotten, Oh the other hand; that it has
been persistentiy charged that before
tllis legislation was had, The companies
were extortionate in their charges, IN
just i'll their determinations, and
arbitrary aud oppressive III the exercise
Of their chartered powers; that the true
interests OF the people are promoted by
the statutes, and that their continued
existence is Indispensable to the protec-
tion Of their rights.
Gan there be found q medium in
legislation which shall fully protect the
rights and interests OF the people, and
at the same time be just to capital? /
believe that sucl may be found, and It's
Importance viii justify the earnest cf-
forts OF both the legislature and excu-
t.ye.
Certain fundamental principles must
be kept constantly il view in preparing
such legislation
1. The rights Of the people against
corporations, as against all others, must
be protected hy efficient laws. No ex
Qftion, DO unjust determinations, no
arbitrary, acts Of oppression must be
permitted. The remedy for such acts
must be speedy and the punishment
sure
2. Il must also be remembered that
such corporations are Indispensable to
The material prosperity OF the state. 1T
is not desirable that these great proper
ties should be owned by the state. They
are too large to be owned by single
Individuals. That corporations should
continue to own and manage them seems
2 necessity. They must have the Galne
protection from the laws that other citi-
zens have.
The state cannot afford to be unjust
to any interest. Capital invested in
railways must be equally protected with
capital invested in any other legitimate
business enterprise. While the state
will not guaranty any return upon capi-
tzeS4 invested in eny business. ii should
not, by legislation, SO restrict its employ
ment, or so limit its compensation, SIS TO
deprive it OF the opportunity of earning
q Legitimate return upon the capital
really invested.
With these principles IN view, [ res
pectfully recommend that the existing
laws by which rates are regulated, known
as chapter 237 of the laws Of 1874, and
chapter 334 of the laws OF 1875, be re-
pealed that there be substituted for
them carefully prepared provisions of
law by which all unjust determinations
between either persons or localities, and
all acts OF oppression or wrong be pro
hibited, and ample provisions made for
the prosecution and punishment Of Of
Tenders as for crimes against the state !;
that extortionate rates be prevented by
the establishment OF maximum rates for
the transportation of persons and pro
perty. not greater than those fixed by
the companies when they made their
own tariffs, and which may be presumed
to be sufficient TO enable them to earn
fair return upon capital actually and i'll
good faith invested III them !; that with
that limitation the companies be free to
establish their own rates; that provisions
be made for continued supervisory con-
troll over these corporations, similar in
general terms to those which have been
found satisfactory in Massachusetts and
Minnesota; that anual reports be requir
ed from officers appointed by the state
under official sanction, containing fall
information of all matters affecting the
public interests, 50 that if at any time in
the future further and more stringent
exercise Of this reserved power should
be necessary to prevent wrongs on the
necessary to full understanding OF the
subject will be accessible to the legisla-
ttlre and the people.
In determining how the agency shall
be constituted through which the state
shall exercise its control over railroads,
as in all other matters, economy is an
object that should be kept steadily in
view; and it is worthy Of your considera-
ton how this may be efficiently and
performed, with the least ex
pense to the people of the state.
TIE CENTENNIAL.
You viii recognize the Importance Of
providing for the adequate representa-
ton OF Wisconsin at the Centennial
Exposition, which is to take place at
Philadelphia during the present year,
both as matter OF state pride, and FOR
more substantial conscientious. The
occasion will afford an excellent oppor-
tunitY TO display the resources and pro-
ducts Of the state, and TO attract hither
capital and immigration. Nearly all of
the states have appropriated liberal sums
for the purpose, and Wisconsin should
be credltably representated, OF not at all.
L submit 10 your generosity and patriot
ism to approprite such an amount as
shall seem to be sufficient, to be placed
in the hands af the Board OF Centennial
Managers leaving it to them. to deter
mine how it shall be expended.
SALARIES.
I would call your attention to the
present pro. ision OF law under which il
is possible for many officers and en-
ployes Of the state TO receive their salary
IL advance, and in view Of the fact thai