Phillipsburg herald. [volume] (Phillipsburg, Kan.) 1882-1905, 1884-02-21

corporations, and slavery Tor the people
1t is time that the common law has put |
an indefinite limit to this power of ex-
tortion, by saying that the charges cor
porauonS make Tor services shall be reas- /
sonabIe, but this limitation has been
found to be practically unavailing for
public protection, unless enforced by Wig
liant supervision. 1t has always been
found that human greed coupled with
power Will ride rOughshod over every
right. The people of this State have de
clared against the continuance of that
commercial freedom for which you sigh,
and they will never again deliver them
selves into your hands. Railroads are in
the nature Of public agencies. The public
has given to this class of corporations the
power to plant their public works in def
mite location and to operate them there and
this carries with it the power of taxation.
Where Is the limit to this power? Your
theory evidently is that, that limit is
only reached when you have arrived at
the utmost bounds of possibility, t. e., just
short OF exciting open rebellion against
your eXactions, and this carries with it
every element of despotism. If the
principle of reasonableness, on the other
hand, means anything at all, it implies
the right to collect from the business a
sufficient revenue to pay the expenses of
management and maintenance of the
property, and a fair return upon bona
Jide investment and in estimating such
fair return, due allowance should be
made for the risks attending this class of
investments. But exactions to pay divi-
dends on Watered stock, or stock that
represents no outlay, and no bona tide in
Vestment, is neither just nor reasonable.
We have shrunk from the task of pre-
scribiHg rates for your road, not because
it was not clearly apparent to US that eK-
listing rates were unfair and unreason-
ably high, but because we desired to alb
stain from every appearance Of coercion.
But you have persistently maintained
your rates against every argument and
every remOnstrance from us, notWith
standing you were heaping UP, millions
of surplus revenue. You forced us to do
what you now complain of. Have you
not exerted yourself to create combina-
ton among railroad men to resist VIVA
we believe to be reasonable demand of
the public? We can only interpret your
objection to be to break down the law
We have labUred to deal Justly with your
company, and to do nothing that would
impair its prosperity. We are fully sat-
isfed that the rates we have fixed will
leave to your company, after paying all
expenses, and every obligation, and the
usual dividends to shareholders, a sur
plus. We have given the facts and fig
ures in our decision which we believe
iustifes this conclusion; though yOuhave
had abundant opportunity, you have
never shown the contrary.
It is far from the intention of this
Board to in any manner jeopardise the
railroad interests of the State, nor
| do we give to the law that rigid, infexi-
ible and literal construction that you
seem disposed to apply. The railroads
/ have done more perhaps towards secur-
! ing to this State its present prosperity
than all other enterprises combined.
The people of the State fully appreciate
the great good that has been done them,
in assisting to build up cities; encourage
ing immigration, thereby enhancing the
value of lands otherwise comparatively
| worthless to the State; uniting the prai-
RES of our West with the markets of the
East" creating market for the products
of our lands that would otherwise real
ize nothing to the producer. The peo-
pie of the State therefore cannot afford
TO coniscate railroad property nor can
they afford to have railroad companies
coniscate their property. Under the
! former management of your company,
there seemed to be a disposition to meet,
the people upon just and equitable
basis, but if we are to judge from the
tone of your letter of the 31st ult., we
! fear the disposition of the management
has been very materially changed.
Respectfully,
JAMES HUMPHREY,
L. L. TURNER,
Railroad Commissioners
! E. J. TURNER, Secretary.