Excerpt from The Desecration of Our Homes

Under the laws as prescribed in the Federal Constitution, no means for regulating the consolidation of lines of commerce over disconnected roads were provided. Power was invested neither in the nation, nor in the several States. By judicial decisions, both Congress and the States were denied the power. But such consolid ation was a national and an inevitable necessity. What could not be done lawfully, was of necessity to be performed. And it was ao complished by adventurers, whose success was accomplished revo lation. The Courts, bewildered, were induced to affirm hasty and ill-considered opinions. They were forced to depart from the letter and spirit of the law. Amidst their embarrassments all was novel. There were no well-considered precedents, - no beacon lights of his tory appeared to guide the upright judge. It was a period of change and confusion. Conservative stockholders, fearing the untried fu ture, fought against the inevitable. The meetings of stockholders became stormy. The adventurers caring for no law, were often equal to every emergency. New methods for controlling corporation meetings were devised. Merchants and traders favored consolida tion. It secured economy and despatch in extended trade. Com merce knows no humanity, no liberty, no human rights. In com merce, the weak are always the victims of the strong. The system of selling stocks on margins was devised to control the officers of railroad corporations. Stocks were sold for a small advance, and pledged for the balance of the purchase money. By this means, many votes were procured for a small price. In mercantile comma nities, judges often upheld and encouraged the schemes. At corpo ration meetings, the adventurers often secured its offices. Once in othee they encouraged reckless speculation. When appeals were made to the law, justice was tardy. Interested judges delayed the day of trial, and honest judges, confused, knew not how to decide. Control once obtained of contiguous roads, speedy consolidation was accomplished, while judges remained bewildered. Having obtained control of trunk lines. Tariffs were modified, despatch was secured, and merchants. Traders and the people were temporarily benefited. Through high salaries and discriminating tariffs, the oflicers and their confederates were enabled to support and pay the margins.

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