Monopolies -- United States; Railroads and state -- United States
called upon to incorporate these different companies, and to grant lands
and money to aid in the different enterprises as they are presented. To
give color to this idea, the names of men from most of the states and
territories are included among the incorporators, some fifteen or twenty
of whom are named as provisional directors who are to hold their places
until the first regular meeting of the company, and the election of
officers. Congress fixes the time and place of meeting and the notice to
be given to the stockholders, and to carry out the idea that it is to be
a company in which all can participate, the charter provides that any
person can subscribe stock and become a stockholder who desires to do
so. In fact though, no petitions have been presented to congress, nor do
any considerable number of the persons named as corporators know of the
organization, or that their names have been used; nor is it intended
that they should know; the fifteen or twenty interested parties who have
formed their plan for a raid upon the treasury, are the only ones,
besides their particular friends in congress, who are supposed to know
anything about it. These fifteen or twenty men who have gotten up the
scheme, meet and elect themselves directors, and are then ready for
action. Having obtained their charters, and organized under them, the
work of robbing the people begins. With their friends, and some of their
directors in Congress, they have been able thus far to obtain all they
have demanded. There is no authority for the assumption that the
chartering of these companies is in obedience to the wish of the people,
either expressed or implied. On the contrary, this action of congress
has uniformly been in opposition to public opinion, and indeed it has
excited popular remonstrance. None but the few who wish to get their
hands into the public treasury have asked the interference of congress,
or desired the government to aid in these enterprises. So great is their
anxiety to aid in the development of the country that substantially the
same companies undertake to construct all the roads for which congress
will grant sufficient aid. All these railroad schemes which have
received the special attention of congress were planned by a set of
unscrupulous men, who combined to plunder the treasury.
The system of aiding in the construction of railroads by grants of land
was inaugurated in 1850, by grants to the Illinois Central, and did not
develop itself fully until 1862, when the plan of obtaining charters
from congress, connected with grants of land and subsidies, was
systematically adopted. Since the latter date, the practice has
increased with fearful rapidity, and within the last four or five years
it has assumed such immense proportions as to threaten the entire
subversion of the government.
Public-domain text, read in full here on John Shaqi.
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