Sacramento daily record-union. [volume] (Sacramento [Calif.]) 1875-1891, 1883-08-11

good or evil, because they are
in no sense misers, but have in
vested their wealth in enterprises
that must remain to benefit the world.
While it may be admitted, says this essay.
ist, that great corporations with millions
of capital may use their power to injure
smaller corporations and particular classes,
yet such cases form the exceptions rather
than the rule, and those who are injured
are comparatively few to the vast multi
tudes who reap the benefits of capital
wisely invested in great industries. Cor
porations are not philanthropic concerns,
but business organizations, which, while
their functions bring them more immedi-
ately under Government supervision than
do those Of other associations, do not there
by cease to be private corporations, formed,
owned and managed by private individuals.
He adds: Even when they received land
grants or other subsidies from the Govern
ment, these, it must be presumed, in the
absence of express stipulations to the con-
trary, were not intended to secure for the
Government control in their management,
but simply to encourage their formation, as
a means of settling its wild lands and in
creasing its revenue" These advantages
are more than sufficient to compensate the
Government. Corporations are managed
by men, who, like the rest of men, will
sometimes exhibit the ordinary frailties of
human nature, and be indiEcreet and over
bearing and vindictiye and selfish, and &C.
casionally engage in business to extend I'm.
due advantages to certain persons, etc.
And this is all wrong but it does not, in
his opinion, justify legislation that would
embarrass the action of the companies
themselves, or prevent their development
or curtail their legitimate profits. Rail-
roads are, especially in this country one of
the chief factors CT material prosperity,
giving employment to hundreds Of thou
sands, stimulating manufacture and iuven-
ton, minimizing the cost and hardships Of
travel and developing natural resources as
no other agency can do. They meet the
immigrant and carry him swiftly to the
soil awaiting his hand upon the plow, and
give him home on terms that make it
almost gratuity; they transport natural
products TO the factories of the country
and beef and bread from plain to sea.
Without them the West would to-day be
hundred years behind the point it has
reached in material development. But he
deems they have done far more, since they
are great conservative forces in society.
They have vast interests at stake, and
have, as they should have, al influence in
proportion to the numbers and capital they
represent. They are thus enabled. and
in self.defense they are often obliged, to
keep legislation within proper limits, and
defeat the schemes of INSCRIPTIONS lobby
lists and wire-pullers TO fleece the public.
Whilst they protect themselves they thus
protect others. But, further, he argues in
defense of these much-abused agencies of
civilization; they are bond of union be
tween the States and the various sections
of this confederacy; the broader their op-
erations, the greater their influence, the
stronger the bond becomes 1t is their
interest, and of all who hold their securi-
ties, to do all that can be done to avert civil
strife, and discountenance whatever will in
the remotest degree threaten the integrity
of the Union. Sectional interests had
mora to do with the late war than slavery,
in his opinion, and railroads are. of neces-
sity, the enemies of all such conflicts. The
rapid changes in Che avenues of trade and
commerce taking place now may put like
temptation to that presented to the South
in the way of other parts of the country,
sooner than we think for. Professional
patriots, he well remarks, and professional
politicians are not to be relied upon in
such an event. In such contingency, he
holds, our chief hope must be in our great
corporations, and especially in our great
railroads. He points out that had North
ern roads and Northern capital the infu-
euce in the South in the year 1860
that they now have, the rebellion
might not have occurred. Be that as
it may, it is certain that the great rail
road companies, extending their arms as
they are doing, are in themselves the best
guaranty we can have of national unity in
the future. They will prevent secession,
otherwise to be remedied only at the cost
Of much blood and treasure. He would
have US provide against abuses by corpora
tions, but would have US deal with them
in friendly and not hostile spirit. Tidal
wave legislation regarding their affairs is
likely to be productive of very serious con-
sequences before it can be repealed, in the
effort to remove the evil of monopoly.
The danger to be apprehended just now,
it seems TO him, is not the growing strength
of private corporations, but the undue in.
reference OF the States in their affairs.
The essayist at length proceeds to discuss
other branches of his subject, all which
have relation to that we have outlined
but we cannot follow his line of thought
further 1t is a dispassionate and philo-
sophie paper, which should command the
respect the truths enunciated with unusual
courage in the face OF the fanatioism OF
the day on these topics, deserve.
SOME REFLECTIONS ooNCBRNIEa saEI-
TARY PROGRESS, AND POWER UNDER
sAsIfARY LAWS.
Al ~ b;noa CO far 40 Modern history af