State Agricultural Society. 113 



has turned out not so ^^ood for the government. In all their con- 

 tests with that government, in one of its own departments, the judi- 

 ciary, the corporations have won and the government lost. The 

 contract, tlierefore, has been fulfilled. If there is any censure due, 

 it has always seemed to me it should have fallen upon those who 

 constituted or represented the public in making the original bar- 

 gain. San Francisco, a few years ago, was justly alarmed at the 

 threat of being left on the wrong side of the bay, and indulged in a 

 good deal of hard talk of the railroads, buj, she has ne\''er called her 

 "favorite son," who represented her in Congress, to account for voting 

 away untold millions to the railroad without inserting in the grant 

 itself a condition that the western terminus should be in the city he 

 represented. Having read the speeches of the California delegation 

 upon the question of these grants with great care, and enjoyed the 

 glowing description of Oriental i)roduct, scenery, and life therein, I 

 am inclined to think that the odors from the "Isles of Araby the 

 Blest," or opium fumes from the Celestial Empire entering into their 

 l)rains, caused some of our delegation to forget at least something 

 which would have advantaged us, who live by this "western sea. 

 Wiiat consistency or justice is there then in denouncing those who 

 did nothing but accept the aid we offered, and confessedly performed 

 their contract? The people are, however, constantly told that cor- 

 porations are monopolies, and for that cause they are odious. The 

 assumption is without the slightest foundation. 



These artificial bodies were originally undoubtedly monopolies. 

 Granted by the king or head of the State, they received and enjoyed 

 privileges from the use of which all others were excluded. It was 

 the personal and exclusive nature of the privilege conferred alone 

 that constituted the monopoly. No such rule has obtained in this 

 country for a long time, and in this State never. 



But it is said that the cost of these railroads is so great that the one 

 first built will necessarily become a monopoly for want of competi- 

 tion. This certainly is no reason why we should not have one road, 

 simply because we cannot Ijave two, though it is a good reason why 

 we should not be imposed upon by the one we may have. By the 

 common law a right of visitation, as it was called, was exercised by 

 the crown to see whether the franchise had been abused. This power 

 is, in substance, represented by that reservation of })ower to the State 

 to so modify the law regulating corporations as to protect fully both 

 the corporation and the public. I speak of these things for the pur- 

 pose of diverting attention from the wealth of these bodies and the 

 way it was acquired, topics only calculated to dis(|uiet us, and to 

 direct it to their {)resent conduct. The fact is, by listening to insane 

 talk and nialiciuus insinuation, some of us have got into a state of 

 mind that we seem incai)able of sensible investigation and just judg- 

 ment. The capital and skill involved in these corporations should 

 be treated exactly as those of the natural man, as agencies to be used 

 and directed for the development of industry, the carrying on the 

 business of the State, and enlarging the sum of human happiness. 

 This can neither be done by destroying these institutions, nor by 

 delivering the interests which they are intended to promote over to 

 them as a si)oil. 



Surely an intelligent and honest people can settle all such questions 

 with neither hatred or disquiet. Permit me to close what 1 have to 

 15 • 



