Sacramento daily record-union. [volume] (Sacramento [Calif.]) 1875-1891, 1884-07-24
REGULATION.

Concerning the principles and doctrines
of the regulation of corporations by the
sovereign power in free State, there is
every reason to believe that the people are
coming into the true light. and that mere
passion and prejudice are giving way to
reason and justice
This is evident from the tone of public
sentiment in the West compared to its fever
ish state few years ago, when conservatism
was trodden beneath the heel Of passion. 1t
is evident in the revulsion of feeling in
Georgia, where the demand for the repeal
of radical legislation, arises out of the grave
injury of the results of unreasoning regula-
ton of railroads, that crippled the service,
drove enterprise and investment from the
State and put muzzle upon development.
Regulation, TO prevent the encroachment
of aggregated and organized capital upon
popular rights, and the interests of the
communities of State; between shipper
and carrier; insurer and insured banker
and depositOr, etc. is established in our
tanned the full growth of governmental
principle. But when it is once agreed that
the power of regulation shall be exercised,
the only thing remaining to be considered
by sovereign people is how shall it be ex
ercised? Destructivey or fosteringly? In
the interests of all, or by the measure Of
the selfshness of the few? Dictatorially
III the interests of the majority, or with
conservative regard for the interests of all,
irrespective Of their political power in the
State?
In short, the only remaining question is,
shall regulation be one or two-sided? Shall
it be in favor of A and opposed TO b, or in
favor of 3 and opposed to C and A, or shall
it conserve the interests and adjust the
rights of A, Is and with relation to each,
and each to the other?
1t is no more right, decent, honest or
respectable to say we favor regulation OF
corporation A, in the interest of producer
B, or shipper c." than it is to declare that
eve favor the regulation of producer B.
in the interest of corporation A." 1t is no
more unsuitable to say we propose to
regulate in favor of the carrier, than in
favor of the shipper
II is no more conceivable that deliberate
legislative or judicial bodies, born of a
Self-goyerning people should announce in
advance the side they will champion, than
that Judge should be respected, or re-
main unimpcached, who would declare Z" if
The ease of S against T comes before me, /
shall be for s.
The very principle upon which rcgula-
ton must be based, is that of perfect justice
so near as attainable by human beings
between the interests involved and bias for
none Regulation, to be maintained
among self-respecting and honest men,
must take on the IoftieSt judicial attitude.
And it is thinkablc that the aggregated
Judgment of rightly informed community
may approach to this ideal very closely. We
believe that if there is any progress to be
made under our system at all, it will be in
this direction, and that there are indica-
lions OF the tendency even now, though
we are driven to admit that they are slight,
and must be sought for beneath the froth-
ing surface of a demagogic cutlery and the
agitation that selfish interests and mis-
guided judgments cndeayor to keep up to
the boiling point.