The Kenosha telegraph. [volume] (Kenosha, Wis.) 1860-1888, 1876-01-20

, OF me Legislature to make and enforce these
restrictions has been distinctly affirmed by the
Supreme Court. Their decision is now under
revision by the Supreme Court Of the United
States. and it is believed that the decision of
our own Supreme Court will be affirmed. It
will be admitted by all that this power is one
of vital Importance, requiring for it's exercise
great care and Judgment.
It cannot be denied that the existing laws
passed in the exercise of this power, have,
eitherIiu or unjustly, impaired the credit
of the state and of it's individual citizens in the
commercial and financial centers of the world.
With immense resources undevelOped and q
consequent need Of capital from sources whore
it is in excess, the people find capital Iepelled
by legislation which would seem to be SO far
in conflict with the rights of capital as 10 put
the best interests Of the people themselves at
hazard.
That such legislation should have excited
unfavorabIe comment is not strange. That
capital has been invested in the building of
railroads that they are in daily use in the ser
vice of the people; that such use pays nothing
to it's owners; that the owners are compelled
by law to permit such use, and are deprived
by law of the right to say what the Y shall re-
ceive for it, are facts patent to all observers.
It must not be forgotten; On the other hand,
that it has been persistently charged that be-
fore this legislation was had, the companies
were extortionate in their charges unjust in
their determinations, and arbitrary and OPP
pressive in the exercise of their chartered
powers; that the true interests of the people
are promoted by these statutes, and that their
continued existence is indispensable to the
protection of their rights.
Can there be found medium in legislation
which shall fully protect the rights and inter-
ests of the people, and st the same time be
just to capital / believe that such may be
found, and it's Importance will justify the
earnest efforts of both the Legislature and ex--
ecutive.
Certain fundamental principles must be kept
con stantly in view in preparing such legisla-
tienl
/. The rights of the people against cospor-
atoms, as against all Others, must be protected
by efficient laws No extortion no unjust dis
examinations, no arbitrary acts of oppression
must be permitted. The remedy for such acts
must be speedy, and the punishment sure,
2. It must also be remembered that such
corporations are indispensable to 1.-THE material
prosperity of the state. 1t is not desirable
that these great properties should be owned
by single individuals. That corporations
should continue to own and manage them
seems necessity. They must have the Same
protection from the laws that other citizens
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
capital invested in any business, it should not
by legislation, so restrict it's employment, or
so limit it's compensation as to deprive it of
the opportunity of earning a legitimate return
upon the capital really invested.
With these principles in view, respectfully
recommend that the existing laws by which
rates are regulated, known as chapter 273 of
the laws of 1874, and chapter 1874 of the laws
of 1875, be repealed 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 OPP
preston or wrong be prohibited, and ample
provisions made for the prosecution and pun
ishme,It of offenders as for crimes against the
state that extortionate rates be prevented by
the establishment of maximum rates for the
transportation of persons and property 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 q fair return upon capital actually
and in good faith invested in them that with
that limitation, the companies be free
to establish their own rates; that provisions
be made for continued supervisory control
over these corporations, similar in general