the consideration that in turbulent times they must not be so carried out as to endanger national life, through suspensions in the supply of necessaries, these _a priori_ principles would have guided statesmen, as fast as circumstances allowed, towards the normal condition. We should have been saved from thousands of needless restrictions. Such restrictions as were needful would have been abolished as soon as was safe. An enormous amount of suffering would have been prevented. That prosperity which we now enjoy would have commenced much sooner. And our present condition would have been one of greater power, wealth, happiness, and morality. Our railway-politics furnish another instance. A vast loss of national capital has been incurred, and great misery has been inflicted, in consequence of the neglect of a simple principle clearly dictated by abstract justice. Whoso enters into a contract, though he is bound to do that which the contract specifies, is not bound to do some other thing which is neither specified nor implied in the contract. We do not appeal to moral perception only in warranty of this position. It is one deducible from that first principle of equity which, as above pointed out, follows from the laws of life, individual and social; and it is one which the accumulated experience of mankind has so uniformly justified, that it has become a tacitly-recognized doctrine of civil law among all nations. In cases of disputes about agreements, the question in each case brought to trial {156} always is, whether the terms bind one or other of the contracting parties to do this or that; and it is assumed, as a matter of course, that neither of them can be called upon to do more than is expressed or understood in the agreement. Now this almost self-evident principle has been wholly ignored in railway-legislation. A shareholder, uniting with others to make and work a line from one specified place to another specified place, binds himself to pay certain sums in furtherance of the project; and, by implication, agrees to yield to the majority of his fellow-shareholders on all questions raised respecting the execution of this project. But he commits himself no further than this. He is not required to obey the majority concerning things not named in the deed of incorporation. Though with respect to the specified railway he has bound himself, he has not bound himself, with respect to any _un_specified railway which his co-proprietors may wish to make; and he cannot be committed to such unspecified railway by a vote of the majority. But this distinction has been wholly passed over. Shareholders in joint-stock undertakings have been perpetually involved in other undertakings subsequently decided on by their fellow-shareholders; and, against their will, have had their properties heavily mortgaged for the execution of projects that were ruinously unremunerative. In every case the proprietary contract for