336 THE G&QUNDSWELL. 



Resolved, That the system adopted and now practiced in the build^. 

 ing of railroads, viz : The soliciting of stock subscriptions from indb 

 viduals, corporations, and counties, and after receiving these subi 

 sidies to depress the value of said stock by forcing it upon, the market 

 and depreciating its value to such an extent as to enable a few 

 speculators to secure control of the road, thereby depriving those 

 who aid in its construction of all voice in its management ; increas 

 ing the cost four or five times above the amount it would have cost 

 if those managing it in the outset had had the foresight to have the 

 funds on hand at the start to build and equip said road ; then re 

 quiring the producer and shipper to pay dividends upon the ficti 

 tious cost by charging excessive freight and passenger tariffs ope 

 rates most injuriously to the best interests of the farming class, and 

 calls loudly for reform and restraint by adequate legislation. 



Resolved] That we recommend all farmers to withhold their voices 

 and their aid from railway corporations, unless it be fully conceded 

 and agreed that corporations so aided are subject to regulation by 

 the power incorporating them, and will not, after receiving the ad 

 vantages conferred by the public authority, claim the immunities of 

 a private corporation. 



Resolved, That we indorse and will support the doctrine promulga 

 ted by some of our courts, that a railway corporation in receiving 

 and exercising the State s right of eminent domain, and receiving 

 aid raised by taxation from public authorities has thereby accepted 

 and admitted itself to be a corporation with a public function, and 

 subject to the power from which it has received its charter, in the 

 limitation of its rates. 



Resolved, That a railway being practically a monopoly, controlling 

 the transportation of nearly all the country through which it passes; 

 and that as competition, except at a few points, can not be relied 

 upon to fix rates, therefore it becomes the duty of the State to fix 

 reasonable maximum rates, affording a fair remuneration to the 

 transporter, and without being an onerous charge to the producer 

 and consumer. 



Resolved, That, inasmuch as Belgium has succeeded in regulating 

 the rates upon railways by Government lines, we ask an investigation 

 of the proposition to control the rates upon existing railways by 

 trunk lines built and controlled by the States authorities, and run 

 at fixed uniform and cheap rates. 



