The Pulaski citizen. [volume] (Pulaski, Tenn.) 1866-current, 1883-04-12
RAILROAD COMMISSION.
Senator Edmundson's Speech Upon
the Question.


Mr.. SPEAKER IL am for railroa
commission, because l believe on
properly constructed with such limits
!. tions and safe guards thrown around
as not to encroach upon or impai
vested rights possessed by these corpor
tiOns is not only demanded by the pee
pie for their protection against unjus
and extOrtionate charges in ireights b.
, these corporations, but one with thes
restrictions administered by prudent
practical and conservative men wouit
be mutually beneficial to both the peo
pie and the railroads.
In creating this commission we shoulG
bear constantly in mind that we are
not here to legislate in the interest o
any particular class OF men or places Il
the exclusion OF another class or place
We should not forget that stock-holder
and railroad officials constitute one ele.
ment of our constituency, whose inter.
ests claim our attention as much as any
other class. Stock holders OF banks Of
other institutions are no more entitled
to our consideration than are those oi
the railroads; nor are the gentlemen ol
any of the professions or avocations
Who would consider for one moment
the idea OF fixing and regulating, in
any manner, the rates or charges OF
these professions or avocations, and es-
pecially by parties who know nothing
or but little of such business called up
on to regulate? How would those OF
my legal brethren here who are so de-
termined to have.these roads turned over
to commissioners like for their fees to be
regulated or fixed by others? And If
there is a class OF people of any occupa-
tion or profession that have any more
arbitrary power in fixing and collect
ing fees, don't know who or what it
can be. have frequently heard their
charges criticized as unreasonable or
unjust, and especially in regard to
small estates which by virtue of de-
clared insolvency get into the courts,
wherein the estates are pretty much all
absorbed by the fees of the lawyers
having charge Of such cases, and the
court1costs. The law being su"h that
lawyers fees, be they what they may,
are paid in full with the court cost and
| that, too, to the entire exclusion of other
and older creditors. 1t may not be i'm
proper for us, at the proper time, to
| give this matter little regulation also.
We hear complaint also of banks
and brokers making unjust charges in
their rates. Suppose legislation should
be had regulating these institutions by
parties unfamiliar with their affairs.
| 1t would be short time only before the
last one OF them would go into liquida-
| ton. The way to reduce their rates OF
| discount and exchange is by having
more of them to compete If there
| were but one bank in Nashville its rates
for discount and exchange would ex-
tend to the farthest limit, but since
there are many competing ones they
are compelled to charge just and rea-
sonable rates. The same principle ap
plies to merchants, mechanics and
manufacturers When there is but lit
tie or no competition We find their rates
or prices unreasable and unjust; and
this principle applies also to that much
neglected class OF people by legislation
the farmer. Let there be a drought
or anything to cut short the crops OF
the country, whereby the grain and
stock are shortened, we always find the
few individuals who happen to be 81
fortunate as to have a surplus OF these
articles demanding unjust and extor-
tionate prices for them. Now repeat,
II we want to lessen the rates Of dis
count and exchange we should encour-
age the establishment OF other banks; II
we want to lessen the prices OF mer-
chandise, encourage competition in
this line. So in every class or depart
ment. When we had but one or two
railroads here their charges were high,
but no higher than their charters or
vested rights permitted. The charters
of these roads-for the charters of all
roads subsequent TO the Nashville and
Chattanooga are the same-granted o
cents per mile for passengers and 30
cents per 100 pounds for 100 miles, and
while to-day their charges are but little
more than one half of these rates they
| could go up to these rates and would do
80 did not the close competition pre-
vent. Competition keeps down extor-
tionate rates. If we can bring about
more competing lines, rates will be still
lessened, for competition eheaPens and
lessons everything. Take the regula-
tion OF these roads entirely out OF the
! hands OF the stockholders and place
them under the control and direction OF
three men to fix and MAKE rates as is
proposed by the caucus bill ,and be these
men ever so practical, conservative and
wise, If they are allowed no discretion
but to conform strictly to the provisions
| of this bill, fear one OF two things
would follOw-the e-law would Re set
aside as unconstitutional and void by
the courts after being appealed to for
| protection by the road officials, or II
| sustained by the courts the road would
go into the hands of a receiver and be
sold. And when sold we might natur-
ally expect them to be purchased by
one OF the two railroad kings of the
country-Geuld or Vanderbilt, and then
being owned by one man or forty, old
rates of cents per mile, etc., would be
re-established, because no sane man
believes but that were there no cOmpeti-
| ton the rates would be as high rs
the charter would permit them to go,
but beyond there they could not go, and
a commission would be powerless TO re-
strain them under the rates granted by
their charters, because such rights are
vested and both constitutions-thdt OF
the United States and state of Tennessee
Say no law shall be made TO impair
the obligation of contracts. Now il
such would follow the creation OF such
law, wouldn't we entirely fail in our
objecta Instead of alleviating the
wrongs Of our people by lesseninR the
charges and determinations of these
roads, we would largely increase them
aud we would not only cripple and
break down many of the existing ones,
but we would effectually put stop to
the building OF any more. Already we
see the effect the passage Of the bill in
the house, with the prospect of its pass
age here, has had upon roads now In
course OF construction. We hear OIL
many such roads stopped. Such is ouI
information and it comes in such a way
that we have no reason to doubt it,
This is not because OF their opposition,
SO much to q commission; but because
of the stringent and unreasonable and
monstrous character of the bill in ques-
tion. We have assurances that they
would accept and abide by such law as
Is proposed by my bill as an amendment
to the house bill. While the most o.
these roads want no commission they
say they would not resist one of such
terms as is contained in the senate bill.
hut would acquiesce In il, and, indeed,
know some OF the roads that want il.
therefore favor the Substitution OF
the bill and then when we come TO con-
slider IL seriGtffa we can amend il as the
senate may deem proper. While IL
fully protects the rights Of shippers and
travellers by preventing discrimination
and extornon, It does 1t In a way that
shows a full regard for the rights of che
corporations and protects them as well
Such a law, repeat, will be mutually
beneficial. While this bill protects fully
the rights OF the people, it is done under
the constitution. The house bill is
directed wholly to the interests of the
shippers, with an utter disregard of the
rights Of the roads, which should receive
an equal share OF our consideration