The Pulaski citizen. [volume] (Pulaski, Tenn.) 1866-current, 1885-05-14

The Supreme Court of Missis-
sipRi on Railroads. Charter
ed Rights Must be Re-
spected.
The supreme court of Mississippi
has had Under Amusement, in the
case of the Mississippi Railway
Commission We. the Yazoo d. Mis-
sissippi Valley Railroad Co. the
Identical question involved in the
case decided in Mis- state by Judge
Baxter; the rights acquired by the
charter as coAtragt with the state,
and whether the legislature may in
terfere with the chartered rights or
change the contract at will. We
quote from the opinion;
"Section 6 of the charter of the APP
pellee confers on the company power
to fix, from time to time, by it's board
of directors, the rates at which it will
transport persons or property over its
railroads, provided they shall not ex-
coed maximum specified in tue act.
Fixing rates in charter is a s2ecifi-
cation OF what is reasonable; an exclu-
sion of tacit or implied condition on the
subject. 1t is an essential part OF the
contract OF Incorporation, the most i'm
portant condition of its existence, the
inducing cause of its acceptance.
That 1t lwas the legislative intent to
vest rim the appellee an unrestricted
right to fix rates, within the limits pre-
| scribed by the charter, is clear. That
this was valid contract by the state,
obligatory and inviolable by it, we re-
gard as settled authOritatively by feder-
al and state decisions too numerous for
citation.
If anything is or ever can be settled
in American constitutional law, the
sanctity and inviOlability of a contract
between state and individuals, in the
| shape of charter for business enter
prise, accepted and acted on by tie
cOrpOratOrs, on the faith of its terms
and provisions must be so regarded.
The appellee has the unQuestionable
right from time to time, by its board OF
directors, to fix the rates at which il
will transport it over the railroads,
| provided, those rates shall not exceed
the maximum prescribed by the char
ter. That is the contract. These terms
were expressly made. On the faith OF
them capital was invested and the en-
terprise set on foot. 1t is not allowa-
BILE now for one of the contracting par
ties to inter fere with the exercise by
the other OF its plainly granted rights.
They are secure beyond the reach OF
legislation and cannot be impaired
The state cannot, by an act of its legis-
lature, abdicate the right to govern ar
tificial as well as natural persons; but
it may create corporations, and, where
they are not part of the machinery OF
the government, the franchise cannot
be rescinded by the legislature, or its
benefits be essentially impaired, with
out the consent of the grantee. To
h I'D otherwise would be revolutionary,
and disturb the foundations OF society
as nodded by the judicial utterances OF
half century of constitutional govern
ment of America.
This decision is to the point, and
sustaIns the opinion delivered by
Judge Baxter. We have spent
some time trying to convince certain
self-constituted leaders that the
courts nor the people will reach the
communistic point of interfering
with the rights of property fixed by
seems they will not be convinced,
or rather they have come to the
conclusion that it was not to their
interest to be convinced. The state
debt issue being out of the way
and finally disposed of, they are
fearful that unless they have some
hobby which they can ride continu-
ously in front of the dear people
they will soon be forgotten. There
is good deal of solid PHILOSOPHY in
this position.
This court holds that the charter
vests certain rights in the railroads
which the legislature cannot take
away and which no commission
can interfere with, and this will be
the tendency of the decisions
in every state where the charters
are similar to those in Tennessee.
This being the law-as it certain
ly is-where is the necessity for
any commission? 1t can certainly
be of no benefit to the people. The
legislature can regulate the rail
roads, and give the people as much
protection against unjust and un-
fair discrimination without as with
a commission. The commission is
expensive without being serVicea-
BILE, and the people will not allew
any set of men to again put tho
party in jeopardy by the incorpora
ton of any such foolishness in the
platform.
1t has been said that few of the
leaders held a meeting in Nashville
last week in certain office and
solemnly resolved that the
railroad question should be made
the leading issue in the next
canvass. This is futile effort to
keep alive the railroad question by
agitation, and themselves with it.
They see in the retirement Of the
railroad question the back seats be
ing reserved for them. Hence the
struggle.
But it must go, and those who
live by its agitation likewise with
it. The people have said SO and
the courts have echoed an amen.
Nashville Union.