The Railroad Question: A historical and practical treatise on railroads, and remedies for their abusesLarrabee, William
History
The Railroad Question: A historical and practical treatise on railroads, and remedies for their abuses
Larrabee, William
Railroads; Railroads -- United States; Railroads and state -- United States
The "Citizen of Burlington" replied by accusing the directors of
defalcation and falsifying their books. He charged that from 1840 to
1847 no account had been rendered of the receipt of no less than
$5,266,431, on which $493,066 was due to the State. As soon as the
legislature convened, a resolution was introduced that a commission be
appointed to investigate the charges preferred against the Camden and
Amboy Transportation Company. The resolution was adopted, but it was
virtually left to the accused to select the members of the commission.
That the directors had a guilty conscience appeared from the fact that
the last annual report of the company, which had just been printed, was
withdrawn and destroyed. To silence their unknown accuser, they
threatened him with criminal prosecution. He now gave his name. It was
Henry C. Carey, the noted writer and authority on political economy. Mr.
Carey did not give up the contest. He proceeded to show how the policy
of the managers of the Camden and Amboy Transportation Company depressed
commerce, manufactures and agriculture alike. He showed how the company
as a public carrier discriminated in favor of industries which they
carried on as private individuals. He claimed that the company had
forfeited its charter, and that it was the duty of the State to
authorize the construction of another road. In the meantime, early in
1849, the legislative investigation committee submitted its report. It
was perhaps as shameless a document as was ever placed before a
legislative assembly. It lauded the directors, to whose influence the
members of the commission owed their selection, and whitewashed their
past management of the company's affairs.
But the people of New Jersey were far from being satisfied with this
report and demanded the appointment of another committee. Another
investigation was ordered, and this time the company, or rather its
directors, found it impossible to control the selection of its members.
Soon after their appointment the committee asked Mr. Carey to lend them
his assistance in their labors, and he readily consented. During the
summer of 1849 the members of the committee had occasion to go to
Bordentown, to inspect the company's books. From that time on a
wonderful change seemed to have come over the committee. They found they
could dispense with Mr. Carey's further services. What had previously
appeared to them a ring of rapacious monopolists seemed now an
association of worthy philanthropical gentlemen. In their report to the
legislature they completely exonerated the company's managers. They
admitted that the State had not been paid all that was due to it, but
they asserted that this difference in the company's accounts was due
solely to clerical errors, for which the management were in no wise
responsible. The report was accepted, although not even the annexed
testimony supported it, and thus the matter was dropped.
Public-domain text, read in full here on John Shaqi.
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