Shepherdstown register. [volume] (Shepherdstown, Va. [W. Va.]) 1849-1955, 1881-04-16
THE GOVERNORS VETO.

Tn view of the fact that the hydra of
.,ononolv threatens to ride roughshod
Yer the fortunes and best hopes of this
country. Gov Jackson's veto OF IAN act
to confer additional powers on the l.. q
n n. II. company" deserves more atten-
tion thar il has received at the hands OF
the press. lie has OPPORTUNITY promul-
,ratel some very wise and salutary doc
trines in respect to corporate powers which
should be impressed upon the public
mind.
La 1873 the Legislature passed law
giving TO these corporations all the rights
and powers necessary to build ana oper-
ate a railroad, but it seems TINS compahy
proposed to consolidate under one iiah-
ugement an almost unlimited nuhioer Vi
enterprises which are entirety lofeiSh "
the legitimate business OF a railfoau anu
,'hirh in view of our undeveloped re-
sources. are of vital Importance W lhe
present welfare of the state.
when we remember that these corpora
lions are generally controlled by men not
nersoually interested in the immediate
nro,peritv of the community and that
their capacity to acquire property Is al
most unlimited; when we consider that
they are to continue forever ana thitI
their Investments are usually made WIN
mn eve To the distant future anu NOT us
i.the case with individuals, with an eye
To "A present and immediate prom, we
roadilv understand the wisdom OF that
rriucinle of the common law which pro-
hihits A CORPORATION from buying any
nronerty except such rs is necessary 10 aC-
comnlish the particular work 1or which IL
yyns created. The community suffers COM
paratiyely little injury when private
citizen accommodates large tract OF uhlll-
proved land, because at his death IL Will
come into new HANDS and III the nature Vi
THINGS cannot be withdrawn from the
market for any great length of time; but
since the corporation is perpetual there Is
no limit TO the period during which 1t
NAV hold the land idle and unproductlve.
Many other illustrations at once suggest
themselves TO every thoughtful reader.
NOT only so. but il is common observation
that these corporations gather wealth
with facility and rapidity unknown 10
individual eXCrtion, because combination
has every advantage over lndlVidual en-
,nrnrisr. while each increase OF capital
auJmeuts the power OF acquisition. a
,rain. Every sensible man recognizes the
danger that these gigantic corporations
by Substituting the Press Will mlslead pun
re opinion and exclude from once every
one not subSeryient 10 their scheIhes'
Sad experience has taught Us the perni-
cions Influence exercised by corporation
whose charter restricts It's business 10
,inoIe branch of industry, but who can
forGsee and measure the political power
of 4 CORPORATION authorized 10 prosecute
an almost unlimited number of enterprlses
i'm addition to the business OF rallroad!
Now the bill passed by the Legislature
gave TO the L. q o. Il. r., in addition 10
The usual franchises and powers OF a rail-
road company, d the power OF mining
for coal, (2) the power to buy, holu,
lease, mortgage aud sell real estate III any
quantity and for any purpose, I5) the
mower to build and operate manufacture
les, mills and furnaces, az the power 10
build boats and vessels and (o) the power
10 carry on the business OF transporta'loh
bv water as well aS by railroad.
Lei us look into the future and conten-
,late the probable proportions OF this cor
iorution after it has been growing for
twenty or thirty years. Judging the M
ture by the past, we may well expect that
II would be owned and managed by men
living i'm other states and not interested III
mr. domestic affairs; that it would con-
t-Ol all coal mines, factories, mills, lur-
naces, BODYBUILDING and water transport
tation in this State, and ut the same Tune
welding the tremendous influence OF an
imnortant railroad, would own, III de-
tached bodies, thrce-fOurths Of our unim-
proved land. Such was the GIANT 10 DC
developed under This act OF the legislature
and who is bold enough TO undertake TO
fix the limits OF the power ana influence
commanded by such giant.
Gov. Jackson, with forecast that does
him infinite credit, by throttling TINS
scheme has called halt to this loose and
uuguarded legislation and by his decisive
action has rendered the State a service
which ought not to be, and W hich, II his
future conduct is characterized by the
same wisdom and broad craftsmanship,
WILL NOT be forgotten.
We have not the space to review this
message; there is no attempt at rhetorical
display or fine writing, but 1t bears the
impress of bold, independent, aggres-
sive mind fully alive to the great dangers
which now threatens this country, ana IN
the name of our people we thank the Gov
ernor for what he has done.