Monopolies -- United States; Railroads and state -- United States
Let us look at the "Central Pacific railroad company," of California.
This company received its charter from that state, was duly organized,
and as we are informed, was at work on its road when the charter was
granted by congress to the "Union Pacific." But congress, not to show
partiality, in the ninth section of the charter of the Union Pacific,
provides for the Central Pacific as follows:--
"The Central Pacific railroad company, of California, a corporation
existing under the laws of California, is hereby authorized to construct
a railroad and telegraph line from the Pacific coast, at or near San
Francisco, or the navigable waters of the Sacramento river, to the
eastern boundary of California, upon the same terms and conditions, in
all respects, as are contained in this act for the construction of said
railroad and telegraph line first mentioned, and to meet and connect
with the first mentioned railroad and telegraph line on the eastern
boundary of California."
Here is a company building its road exclusively in a single state, under
a charter derived from a state having the exclusive control of its own
affairs, and not subject to the legislation of congress, or the
administration of the general government, like the territories; yet
congress, that it may aid a great monopoly, assumes control of the
matter, reaches out its hand laden with the people's land, and the
people's money, and says to this California company: "If you will unite
with and become a part of this giant monopoly we are creating to crush
the people, and will accept the provisions of this act and render fealty
to the general government as the 'higher power,' we will give you twenty
sections of land, and subsidy bonds to the amount of sixteen thousand
dollars per mile, with the privilege of issuing your own first mortgage
bonds for an additional sixteen thousand dollars per mile for every mile
of road you build in the state of California." Of course this California
company accepts this tempting offer, and in addition to the fifty
thousand of subsidy bonds for sixteen thousand dollars each to the Union
Pacific, an additional sixteen thousand dollars per mile is issued to
the Central Pacific, all of which, as we will show, principal and
interest, will in the end come out of the pockets of the people. The
uniting of these two companies, and the completion of their roads and
telegraph lines, afforded to the country and the government (provided in
all cases they paid to the companies the amounts they charged therefor)
a road for the purpose of travel, and transportation of freights, and
secured a _"safe and speedy transportation of the mails, troops,
munitions of war, and public stores thereon,"_ and if the construction
of the road was aided for that purpose, it would seem to have been
accomplished, and as a matter of justice to the public, no further
burdens should have been imposed upon the public. Two companies had been
Public-domain text, read in full here on John Shaqi.
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