New-York tribune., 1901-01-04
TWO FEATURES OF THE MESSAGE.

One of the subjects dealt with in the Gov
ernor's message which deserve the careful con-
sideration of the Legislature is the practical
effect of the incorporation laws; but because II
is a subject which men with mean fear of the
polls in their hearts are shy of discussing in
frank and instructive way il is more likely than
some others of less Importance 10 be let alone
or timorously handled. a reasonable regard for
enlightened public opinion is due TO the people
from their representatives. but conduct which
shows lack of moral courage is particularly
discreditable when it is meant TO be particularly
shrewd, and we are convinced that it is usually
quite as improbable TO the individual as it is
intrinsically ignoble. We hope that all our poll
ticians will learn useful lesson from the swift
and grateful response to Governor Odelrs bold
message TO the Legislature and the people.
The Incorporation laws unquestionably oper-
ate TO deprive this State of large revenue. If
they were intended in good faith to protect the
people from evils which aggregated capital is
able and possibly prone to infiict. they have not
accomplished their object TO any great extent,
while they have caused much loss by driving
investors TO seek more favorable conditions else
where. During the last year. a period Of great
industrial and commercial activity, the proceeds
of the incorporation tax as the Governor OBJ
serves, were only about 1857 900. showing that
only S34, 100000 of capital was organized under
the laws of New-York. whereas many instances
could be cited where single corporations
with a greater capitalization than the aggre
gate just referred TO have been made in other
States" feeling of dread and resentment.
whether rational or the reverse. ought not to
find expression in such sacrifice as that II is
the height Of folly to let New-Jersey, for ex-
ample. continue TO relieve herself of the burdens
of government at our expense while at the
same time the corporations which she hOspita-
bly, welcomes obtain from whatever else is
essential TO the secure and prosperous transac-
tion of their business. The Governors sugges-
tOn OF practical means 10 rectlfy this evil is
valuable to this extent, at least, that il clearly
exposes the absurdity of regulations which are
in part vexatious that they drive large
amounts Of capital to other States for the pur-
pose of organization and in part so readily
avoidable that their application to the rem
nants of capital organized here has little or no
beneficial effect. There may be good reasons
for modifying the Governors recommendatio TONS
but ii is undoubtedly time to modify the law,
and the Legislature ought TO take the question
up in fearless, open minded manner.
Those who have accused Governor Odell of
tenderness for the Ramapo company find their
suspicious confuted by his emphatic declaration
that 1.-THE ownership of water rights sufficient
ito provide the city of New-York with an ample
supply of pure and wholesome water should
''be entirely under the control and direction of
that municipality" and consequently that such
provisions of law as interfere with the exercise
of powers essential TO that purpose should be
revised without delay. Ii is satisfactory TO note
that on the first day of the session bills to -e-
peal the Ramapo charter and give this city the
power OF condemnation which it needs were
introduced by Senator Slater and that in the
Assembly Speaker Nixon, who stood sponsor for
the mischievous act of 1885, asserted the neces-
sity Of getting rid of the monopoly which it
created After such a beginning NewYork may
pretty confidently look for safe deliverance
from the Ramapo schemers.