The St. Johns herald., 1891-03-19
What Bees a Railway Company
 Buy, Pay For, and Own!


 its own price on the property il owns; but that it may be controlled in the exercise of franchise rights which it does not buy, but which are conferred upon it by the public
 is only reasonable and no more than just. The property right and the franchise right of common car rier are two distinct things. Justice Bradley of the United States Su- preme Court said in an opinion re- gently delivered that "when a rail- road company is chartered it is for the purpose ot performing a duty which belongs to the state itself; it is chartered as the agent of the state for furnishing public accom- modation," If this statement IS correct, it necessarily follows that a railway company has not the right to charge what it pleases for that which 1t owns, but that by reason of its position, in that it takes the place of the state Tn performing a service to the inhabitants of the state, it is under obligation to those from whom it obtained the charter to perform that service, in degree at least, on the same basis as it would have been performed by the state. That is to say, 1t can not charge what it pleases, but can only charge what Is reasonable. There is an other law, old as the eternal hills, technically known as "cavcat emp tor" The exact provisions of the law do not apply to the question under discussion, but the principles involved have an important bear ing. It is the doctrine of let the purchaser beware" In practical effect the law is that the purchaser can take no greater title than his grantor, and is bound to take notice of all defects in title which by req sonable diligence he might have as certained. And so with railway in vestors. The franchise rights, or the rights incidental to common carrying, are quite independent in their operation and effect. It would not be consonant with good govern ment to place irrevocably in the hands of any man or men the pow
 CT to oppress a fellow-man for once conferred and falling into the hands of already unscu:upulous men, those otherwise honest would soon become corrupt. Power is the basis of corruption. Every political par ty that succeeds learns this lesson, and history is full of example of the doctrine. It is because of this that wholesome regulation is re- garded by good railway men as not only not inimical to their interests, but absolutely necessary for their preservation. Even granger legis- lation in its most violent and mali
 cious form is by its reflex action on the people often productive of good. It may be safely asserted that in broad sense railways can stand any thing that the people can. The work of a railway is for the people, and when the law hampers that work so that it can not be well done, the people, although slow, are nev- erthelesS certain to realize it, and equally certain to apply the remedy. The courts, too, hold firmly to the doctrine that while on the one hand railways may not charge more than a reasonable compensation for the service rendered, on the other hand the law may not compel them to carry for less than a reasonable rate; and it has almost never hap pened that really unreasonable and injurious regulation has been sus- tained in the court. 4 railway com pany does not own, does not pay for, and therefore can not put a price upon it's franchise right. A com mon carrier has always been sub ject to the control of the law, and always will be. Remove that veto