Daily Kennebec journal. [microfilm reel] (Augusta, Me.) 1870-1975, 1881-03-21
AOGOsTA MAINE. MONDAY MORNING,
NO. So.

| the United States in the case of Railroad vs i.
Maine, has declared that such provision
amounts to n contract between the Legislature
and the corporation, contract which the
Legislature had no power to violate, and of
the benefits of which the corporation could
be deprived only by its own act. as in the
case of the Maine Central Railroad contain
ing similar provision, was Incorporated
into another and distinct corpor-
alton. Having made this contract with
the State, the Atlantic and st. Lawrence
road was leased first to three individuals, with
all its rights and privileges, under authority
of the Legislature. Afterwards. with the as
sent of the Legislature, that lease was trans
ferred to the Grand Trunk Railroad of Can
ada,a foreign corporation it was true. but one
that had brought more property into the
State which is subject to taxation than almost
any other single agency. lt was still in their
possession, and he had before him schedule
showing the amount of expenses which that
railroad had been put to in order to carry out
their agreement To pay the interest upon
bonds which were issued in order to build the
Atlantic 4 St Lawrence road, and the run
ing expenses, and there was not year since
1873, when the working expenses, interest
and dividends above income from every
source had amounted To less than 500, 900.
put thSN uau put tteif Ctutfdtt III
good faith. contract which they had made
with an understanding that the legislature
had, by its charter. agreed that under no cir
cumstances should it be subjected to any
other tax than prov ded in its charter.
Here was proposition TO tax indirectly,
il it could be done, that which the people
through the Legislature had agreed should not
be taxed, and the city which he in part rep
resented, and the Grand Trunk Railway had
united in saving that anv such attempt would
be a violation of the faith of the State, and
would tend to the encouragement of future
enterprises in connection with this road. The
present terminus of the road was in the State
of Maine. Massachusetts was to-day using
every exertion within her power to defect
this enterprise from this State to her own
borders, and if rightly informed, large pc
euniary offers had been made in that con-
nection. All were willing to make sacrifices
to keep the property within the State. AL
ready there was in contemplation by the road
improvements which would add to the taxa
able property of the State some hundreds OF
thousands of dollars. But the corporation
may well say, il we are to meet with this
spirit of oppression, if we cannot rely upon
the contract that is already made with
us, il we are to be driven into the courts
in order tn test these rights then, it is for us
to consider whether it is better for us to
bring that property into the State or not
1fthe road was liable to such taxation under
the law as it stood to-day, he asked no ex-
emption; if they were not liable under the
law as il stood to-day and AS it was when
their contract of lease was made, then he
asked this Legislature simply to say to them.
gentlemen bring your capital into the STATE
of Maine and We will keep good
faith with you. II you are already