Monopolies -- United States; Railroads and state -- United States
of sovereignty, and place the entire government in the hands of
individuals and companies. The constitution has conferred no such
power upon any department of the government. If such power is
conferred, the constitution, instead of being the paramount law as
intended--establishing the rights of the people, controlling legislative
enactments, defining the powers of the different departments of the
government, and guaranteeing protection from unjust and oppressive laws,
and decisions of courts--is instead but an instrument to be used for the
enslavement of the people. The power to grant to private parties a
monopoly of any of the rights belonging to the whole people, or to
confer upon these private parties such exclusive privileges as will
infringe upon or take from the public, the rights that naturally
attach, or belong to, the whole people, was never conferred upon the
legislature of the state or nation. If legislatures have entered into
contracts with corporations, under which the rights belonging to the
people are transferred to such corporations, they have exceeded the
power vested in them, and the charters granted, so far as they infringe
upon the rights of the public, are null and void. The plea, that a
repeal or amendment of such charters would destroy vested rights, has no
force, because the power to make such grants or contracts is wanting.
Nor does the plea, that innocent third parties would suffer, add any
strength to the position. The corporations are the parties with whom
these innocent parties contract, and to whom they must look for the
fulfillment of their contracts. All acts of legislatures, granting to
railroad or other corporations, rights belonging to the whole people,
are subject to the control of future legislatures, and are repealable.
The only purpose for which a railroad charter should be granted is to
subserve the public interest. For this purpose the legislatures possess
the power to confer upon corporations such rights and privileges as are
necessary to enable them to have continued being, and to transact
business, but reserving at all times the right to control them and
reform abuses. Good faith on the part of railroad companies requires of
them fair and honest dealing with the people. Adopting the idea that the
public was to receive great benefit from the construction of railroads,
large grants of lands, subsidy bonds, local municipal subscriptions,
donations of money, and direct taxation, in different localities, have
been afforded the different companies for the purpose of aiding in the
construction of their roads. The benefit the public was to receive, and
which the companies agreed to afford, was the only consideration
expected by the people. This consideration the public has never
received. We have shown the course pursued by railroad companies, in
constructing their roads, watering their stock, and selling their bonds,
and the oppressions practiced by them to force from the people the means
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