The Austin weekly statesman. (Austin, Tex.) 1883-1898, 1886-07-08

No man doubts the justice of such a reform
does any one poubt our legal right 20 effect II
| Listen, then, TO the testimony OF Mr.. Jay Gould
before the labor commission, on september D
| lsS3 He SAYS: corporate property is clothed
with public rights and has duties TO the public. and
| regard those duties as paramount really to the
| rights of the stockholders
Again, he said, speaking OF Legislative
control: Their control is paramount
TO every other control On that same day Dir.
I;ould was asked: sought corporations be al
lowed to charge and collect from me pubic dlvl'
bends on an amount Of capital stock largely in eX
cess of the money they have actually invested
Ought the government 10 interfere and effect re-
duction of charges He answered; swell, as far
as know most of the stockholders would be very
Glad to have the government do that, If they would
guarantee fair dividend. / know would. Now,
the government never guarantees Its WORK, nut
through a commission 1t should secure fair divi-
dends on actual road values without guaranty
Surely Mr.. Gonlds testimony Will be received by
those who so frequently remind us OF the unldlty
OF capital. And right here | want to say that an
honest man shOuld feel more concern In protecting
capital already invested in agriculture and cities
than In inviting corporate power to increase Its area
of unrestrained plumber. ,
hold in my hand a statement certified TO by the
comptroller of the state, and made from the sworn
reports of the NJ. X IL T. and +. j.. IL X. X. rail-
roads, showing that If sixty per cent OF It's gross
earnings for 1885 be taken for current expenses,
that road paid that wear twentythree and Onethlrd
per cent on a valuation of $4,000 per mile. Re
member also that this was done with low freight
rates on long hauls. And yet there was 10 diyl-
dend and we are told that the roads don't pay.
What became of that twenty-three per cent? IL
was sunk by the New York holders Of the watered
bonds We have no competing water ways IN
Texas az in other states, and our commerce ls al
the mercy of railways while they remain uncon-
trOlled. go,
My fellow citizens, the great question OF the
hour il, how can we rescue the rights OF tne peo'
pie from the despotsm of mOnOpolies! know
how dangerous 10 the enmity OF these giant cOrpo-
ritions and il had no other evidence to show now
completely they Overshadow the aspirations OF
men would find It in the fact that men are this
day aspiring 10 high Office, whose lips remain
sealed on this great question. Duty to our civil
ization. now threatened by the financial tyrant OF
corporate power forbids silence; duty to civil lib
erty now trembling in the grasp OF that same
power, which corrupts courts, and invades legls
atures, forbids silence; duty to the great farming
and commercial interests OF this state, whose
property il burthened with unjust freight charges,
10 make railroad kings, forbds silence, and he VINO
aspiTes to the dignity of law-maker, and would
perpetuate without control this corporate des-
potism, deserves not the confidence OF man or
woman For eight years ! attempted in vain as a
state senator to secure a railroad commission, and
thus check this wholesale plumber of the people,
and now announce that relief will never come s"
long az conventions are stocked by railway agents,
and representatives 90 to Austin nninstructed.
Let us control the WAYS of the railway corpora
lions and they will confer in their developing in
nuences, blessings on all the people. Leave them
uncontrolled and they will continue to control the
state.