Savannah morning news. [volume] (Savannah) 1868-1887, 1886-04-27

INTERSTATE COMMERCE. DIS
CUssED IN THE SENATE.

Ir. Van Wyck Stril1esss Blow AT Dtvi-
dends on WatereG stock and Fraudn-
lent BOnds-MonOpOliats Declared to
be the Advocates OF q Commission
Mr.. stanford's stand for the Cor
poratiOns.
WAsHINGToN, April 26.-In the Senate
Slay the Interstate commerce bill was
Gken up and Mr., Van Wyck addressed
lie Senate on it. Through rates from the
Vest, Mr.. Van Wyck said, nov nearly
mounted to condscatiOn. Another rise
Duld be prohibition. Last year he had
sid that the people in some sections of
hbraska were compelled TO burn corn
fir fuel, and that it required l50 bushels
corn to purchase one ton of hard coal
his condition did not apply to the entire
safe, yet last winter in more than halt
hr territory the people were again COM
piled to burn corn for fuel because of
Excessive rates of transportation. The
hsis of charges was 'all that the
taffic will bear.0 We were in the midst
G. Gdepre ssion, vet all pursuits must be
lid under contribution so that fall divi-
hnds shall be declared by railroad COM
IRnies on watered stock and fraudulent
binds. Grain, beef and pork might be
Rduced one-half in ppice, vet there could
10 no abatement in freight charges.
COMMISSION ADVOCATES.
AS to the commission feature of the
dill, the people, Mr.. Van Wyck said,
we're not demanding a commission, but
corporations were becoming earnest adj
locates of it. Railroad and telegraph
rates west of the Missouri river were
about four times greater than the rates
east of that river. For years capital had
been organized INSCRIPTIONS and rapa-
cious, moving as Gould had moved, ao-
cording to his sworn testimony, and as
Mr.. Huntington, according to his own
written history. had moved on State
Legislatures, courts and Congress, un-
blushingly purchasing Judges aHd Legis-
lators. But crisis was coming. There
twas an irrepressible conflict be-
tween right and wrong. Could
the nation be made-tO believe that
four billion of watereu stock and bonds
we're honest property, deserving protec-
zion from courts or Legislatures, or that
three hundred millions claimed by Van
derbiit aud two hundred millions claimed
By Gould we're honestly obtained. The
owners OF these fctiOns should accord de-
cent treatment 10 the remainder of man
kind, from whom they expected to force
dividends and interest. The Senate COM
mittee failed at tine precise point where
the monster evil should be grasped by the
INV. II INDUSTRIES we're Ouly required 10
paw fair dividends on the real cost of rail-
roads the nation would be prosperous.
A MIsNoMER.
Mr.. Stanford, of California, then ad-
dressed the Senate on the DILL. 1t pur-
ported, he said, to be an act to regulate
commerce between the States. He had
read it with a good deal of care, but did
not find anything in it that regulated
commerce. Everything in it was as to
the carrier only. Commerce" had wei
defined meaning. 1t meant trade, barter,
interchange of commOdities-matJers
with which carrier in the transaction OF
his legitimate business had no concern
whatever. He therefore thought the title
OF the bill ought to be changed
TO express its true meaning. In
stead OF being called "Bill to
regulate commerce" "it should be a "Bill to
regulate carriers" II it were bill to
regulate shippers and owners whose ma
terial the carrier moved the title would
be more appropriate. He might be told
perhaps that there were judicial decisions
10 the effect that the regulation of carriers
was the regulation of commerce, but when
legislation was proposed it was entirely
legitimate to discuss the question as 10
the original matter, and to determine it
uDon the principles which seemed to be
involved.
THE POWER POSSESSED.
There was a great difference between
the possession Of power and its exercise.
OF course the constitution plainly gave
Congress the right to regulate commerce
between the States. but as "a carrier had
nothing to do with The control of the
shipment of goods, wares and merchan-
disc, or their ultimate disposal or destiDa-
ti0n, tue regulating Of him or determining
the price he should receive for his SER
m No laf ffpn 70 dot in,
ing commerce between the States.
AS national question why should the
price fixed for carrying freight across a
n0nphysical line between States be differ
ent from what was charged for the same
service on either side OF that line? Would
It not be making our State lines more or
less obstacles to free intercourse? Would
it not be converting our State line into
something very nearly akin to a frontier?
STATES RIGHTS.
What did our friends say who had been
always so anxious 70 claim that we we're
of right one great family with free bust
ness intercourse between ourselves, and
what did our States rights friends say TO
the general government interfering and
controlling their local institutions? Mr..
Stanford said that admitting the power Of
Congress it was pertinent 70 inquire into
The wisdom of this Kind Of leg
islatiOn. /; investment in rail-
roads was so beneficial 10 the public
why should not i-Yest0rs be permitted %
reap the same ful ewards OF the wisdom
Of their inyestmei their industry and
their management direction thereof,
as though the same G. ital, wisdom and
industry had been emphy yed iu business
less ssimpOrtant TO the interests OF the state
and in whose behalf the state could not,
II solicited, exercise the right OF eminent
dOmaing
INDIVIDUAL INVESTMENTS.
In discussing this question OF right 10
regulate railroad fares aud treights In a
manner which would necessarily impair
the earning capacity OF these roads we
should not forget that Investments were
made by individuals. n railroads we're
30 important TO the public surely these
individual investors ought not TO be dis
couraRed by apprehension that the value
OF their investments might be lesseued by
adverse legislation. Further, in all these
Efforts az regulation Mr.. Stanford found
no protection 10 the railroad COM
panles, and no guarantee against
Impairment Of the income. II legislation
interfered To decrease The income value Of
the property, " was affected 20 the extent
OF the dimiuutiOn OF the income. Tbis
was taking property without compensa-