Savannah morning news. [volume] (Savannah) 1868-1887, 1885-08-01
THE hammond CoNIMIssION.
What a New York journal Thinks
OF IL.

From The NelO York Nal and Erprsss
The Legislature OF the State Of Georgia
Is in session at Atlanta, and considerable
anxiety is manifested here as TO the action
it may take in regulating the powers of
its railroad commission. For several
years the Georgia Railroad Commission,
clothed with arbitrary powers, has not
only impaired confidence in the value OF
securities of roads under its jurisdiction,
but impeded the development Of the great
resources Of the Empire state" Of the
South. The chiefruler of this commission
Is said to be Mr.. Campbell Wallace, ven
cradle gentleman possessed OF some rail-
road experience and of vigorous VIII.
A strong anti-railroad sentiment has been
developed in Georgia by politicians, and
this sentiment has hitherto enabled Mr.
Wallace to control the AFFAIRS OF the COM
mission and obtain from the Legislature
almost anything he desired.
Toe Railroad Commission claims that
the State OF Georgia has made progress in
it's works OF internal Improvement under
commission rule; to which answer Is
made that Georgia has progressed some
what in spite Of the drawbacks OF the
Railroad Commission. 1t is said that Mr..
Wallace made his railroad reputation III
the management OF the Western and At
lantic railroad ut a time when that road
was owned by the State and was prac-
teal monopoly with high rates. His eff
forts in railroad construction were not
attended with success. In his attempt 70
build Il road from Atlanta to the Alabama
coal fields he exhausted the subscriptions
OF Atlanta, after which the road was aban-
doned until Northern capital was induced
TO take it up and finish the line
The contests between the Georgia Cen
trail, Louisville aud Nashville and other
lines have forced, in several instances, the
leasing OF roads in Georgia at high rates.
Apart, however, from these roads, which
are at best only necessary burden TO the
lessees, there ia very little return from
railroad investments at present in the
State. Capitalists here and in Europe
have been repeatedly led into Improbable
investments in the South through
the eloquence Of the promoters Of en-
terprises there. Millions of dollars have
been sunk in that section with no hope but
to wait the gradual development OF the
South. II the people OF Georgia owned
their own roads, arbitrary commission
rule such as exists now would be impOs-
siole. Railroad commissions may he
necessary to regulate traffic, but that is
an entirely different thing to clothing
commission with absolutely dictatOral
anu iAiquiSAOVlAHi pOWSlb Ofci AhNVob
ments that cannot be removed from the
State, and are, therefore, dependent upon
the justice of its citizens and representa-
tives for protection.
Until the people of Georgia learn that
Such arbitrary powers are prejudlclal 10
Investments, capitalists are likely to seek
employment for their money in other sec
tions OF the country. The people Of a
State which will give such powers over
capital invested in railroad property may
not hesitate, after the capital has been
secured, to make the same arbitrary laws
regulating investments in cotton and iron
mills, and, in fact, any class of invest
ments within the State.