Grant County herald. [volume] (Lancaster, Wis.) 1850-1968, 1877-05-17
Railroad Legislation.


from his messages. The first is
from bis message of 1876. he said
"The present condition OF the rail-
way interests in the state, and tn u
existing laws affecting that system,
are earnestly recommended TO the
consideration OF the legislature With
the exception of the line from Port
age 10 Stevens Point a portion OF
the line 10 aid which the state receiv-
cd land grant,, which Is now IN
process Of construction, no railways
are being built within the limits OF
the state. While the centralnnd eastern
portions Of the state are well snpqli-
cd with these facilities, the south
western and northern portions are
almost wholly without them. None
of the companies owning or operat-
ing lines within the state have paid
dividends 20 their stockholders for
the past two years. Tho line from
Milwaukee to Mantle woes and thence
to Appleton, has recently been sold
under judicial proceedings growing
out of failure TO pay interest on
their frat mortgage bonds, those cit
liens and municipal corporations of
the state who had contributed large
" toits construction, losing their in
vestment.
"With the exception Of the Chicago
Milwaukee and ST. Paul, the Chicago
and Northwestern, the Mineral Point
and Western Union Railroads, none
of the companies have paid interest
on their bonds during tho past year,
and during that year, the existing
laws restricting the companies IN
the amounts they shall charge and
receive in compensation for services
rendered, have been enforced: The
power of the 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, il is believed
that the decision of our own Supreme
Court will be affirmed. 1t will be
admitted by all that this power is
oDe Of vital Importance, requiring
for its exercise great care and Judge
ment.
at cannot be denied that the ex-
listing laws, passed in exercise of this
power have, either justly or UNJUST
~. impaired the credit of the state
and it's individual citizens in tho com
mercial ana financial centers OF the
world. With immense resources un-
developed and consequent need of
capital from sources where it is in
excess, the people find capital repel-
led by legislation which would seem
to be so far in conflict with the rights
of capital as to put the best interests
of the people themselves at hazard.
''That such legislation should have
excited unfayorable comment is not
strange. That capital has boon in
vested in The building of railroads !;
that they are in daily use in tho sor-
vice of the people that such use
pays nothing TO it's owners; that the
owners are compelled by law to per-
nit such use, and are deprived by
law of tho right to say what they
shall receive for it, are facts patent
TO all observers. 1t must not be for
gotten, 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 discrimina-
tons, and arbitrary and oppressive in
the exercise of their chartered pow
ers that the true interests of the
people are promoted by these statues
and their continued existence is in
dispensabIo to the protection Of their
rights.
"Can there be found modiu n in
legislation which shall fully protect
the interests of the people, and st
same time be just to capital? | be-
love that such may be found and it's
importance will justify the earnest
efforts of both the legislative and ex-
ecutivo.
"Certam fusdamen al principles
must be kept constantly in vlel0 IN pre-
pairing such legislation
1. The rights of the people against
corporations, as against all others,
must be protected by efficient laws.
No extortlon, no unjust discrimina-
tons, no arbitrary acts Of oppression
must be permitted The remedy
for such acts must be spi edy aud the
pun iShme7lt sure.
2. Il must also DO remembered
that such corporations are indispen-
sibie to the material prosperity Of
the state. 1t is not desirable that
these great properties should be own
ed by the state. They are too large
to be owned by single individuals.
That corporations should continue
to OWL and manage them seems
necessity They must have the same
protection from the laws that other
citizens have.
Tine state cannot afford to be IN
just to any interests. Capital invest
ed ia railways must be equally pro-
tecled 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 its employment, or so
limit its compensation, as to deprive
it of the opportunity Of earning q
legitimate return upon the capital
really invested.
"With these principles in vielo, re-
specially recommend that the exis-
ting laws by which rates are regplat-
ed, known as chapter 273 of the laws
Of 1874, and chapter 1874 Of the laws
of 1875, be repealed; that there be
for them carefully prepared
provisions Of law By lohich all unjust
betl0een either persons
or localities, and all acts of oppression
or ,orong be prohibited, and ample pro-
risionS made for the prosecution and
Of offenders as for crimes