The representative. [volume] (St. Paul, Minn.) 1893-1901, 1894-10-24
Money Governs Legislation.

The money power has governed legisla
ton in all civilized countries for genera
lions. 1t matters not what party is in
power in the national or state govern
mcnts of our own country, the money
power has exercised a controlling influence
in many instances in the shaping and adj
ministration of our laws
If the accumulation of vast fortunes
goes on another generation with the same
accelerated rapidity as during tho present.
the wealth of this country will soon be
consolidated in the hands of a few corpo-
rations and individuals to as great an ex
tent as the landed interests Of Great Brit
ain now are.
What is the remedy for this state of
things, which, if permitted to continue,
will make the masses of the people de-
pendent upon the generosity of the few for
the means to live? So far as concerns cor
porations of public or quasi public char
acter, and none Others should exist, the
remedy is simple. They are completely
under tho control of the legislatures,
whence they derive all their powers.
1t is entirely competent for legislature
to provide the manner in which the bust
ness of corporation shall be conducted.
1t may provide that the directors shall
-
ton of them shall be taken from the en-
ployees of the corporation, selected by
them, another part from the stockholders
who furnish the capital for carrying on
its business. 1t may provide that the en-
ployces shall first be paid from the rev.
enues Of the company certain fixed sum,
graduated according to the character Of
the work performed by each; that fair
rate of interest shall then be paid upon
the capital invested, and tho balance DO
distributed upon some equitable principle
between the employees and the stockhOld
ers. In case Of loss the stockholders would
have to suffer, since the employee, having
right to live must in all cases receive
his daily wages when dependent upon
them for subsistence. This principle re-
ceives judicial sanction from United States
Circuit Judge Caldwell in a recent order
entered in case of tho Santa Fe railroad
as follows:
Ordered that the men employed by the
receivers in the operation of the road and
the conduct Of it's business shall he paid
their monthly wages not later than the
18th of the month following their accrual
If the earnings of the road are not suff1-
Gent to pay tho wages of the men, as here
In directed, the receivers arc hereby au-
thorized and required to borrow from time
to time, as occasion may require, suffi-
cient sum of money for that purpose. The
obligations of the receivers for money bor-
rowed for this purpose specified in this Or
der shall constitute lien on the property
of the trust prior and superior to all liens
thereon
Under the powers inherent in every SOW
ercignty government may regulate the
conduct Of it's citizens toward each other.
and when necessary for the public good
the manner in which each shall use his
own property.
In the Legislature Is the Power.
I do not undertake to specify all the
provisions which it would be necessary to
incorporate in charter to secure to labor
its just reward. All attempt is to indi-
cate the power which the legislature has
In creating and controlling corporations
Formerly corporations having special
privileges wero created by special acts,
which tho courts construed to be contracts
between the granting power and the cor
porators, which, once granted, could not
be repealed or varied by the granting pow
er. This granting of charters to favored
individuals, comforting upon them privi-
leges not possessed by the general public,
became obnoxious to public sentiment,
and as a consequence general laws have
been passed in this and many other states
under which any three persons may be-
como incorporated for any private purpose.
This has become a worse evil than the old
system of granting special charters. Un-
der the general law enacted i1 this state
| 90 years ago am informed 81, 200 corpora
| tiOns have been created.
Irresponsible persons arc often induced,
for a small consideration, to form corpora
tions with proposed capital Of millions;
| to subscribe for the whole stock except a
share or two, and for a fancicd, imaginary
or worthless consideration to issue to
themselves as fully paid up stock, which
! is subsequently transferred to tho real