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As long as individuals are allowed to accumulate money from mines, urban real estate, municipal franchises, or semi-monopolies of any kind, just to that extent will the economic system of the country be poisoned, and its general efficiency impaired.
The nation kept the same ranks, the same orders, the same privileges, the same franchises, the same rules for property, the same subordinations, the same order in the law, in the revenue, and in the magistracy, the same lords, the same commons, the same corporations, the same electors." Mr. Burke's Speech in the House of Commons, 9th February, 1790.
We will do toward Alexander, King of Scots, concerning the return of his sisters and his hostages, and concerning his franchises, and his right, in the same manner as we shall do toward our other barons of England, unless it ought to be otherwise according to the charters which we hold from William his father, formerly King of Scots; and this shall be according to the judgment of his peers in our court.
But how few there were in the first seventy years of American history who had any of these experiences! No one supposes, or has ever supposed, that had the Federalists demanded any very large sacrifice of local franchises, or attempted to set up even a close approach to a centralized Government, the adoption of the Constitution would have been possible.
Franchises is bein' handed out to none iv thim; an' wanst in a while a mimber iv th' club, comin' home a little late an' thryin' to ricon-cile a pair iv r-round feet with an embroidered sidewalk, meets a sthrong ar-rm boy that pushes in his face an' takes away all his marbles.
One of those consolidations with 'holdin' companies' and franchises and extensions and water by the hogshead. Wa'n't that it? I remember now; the Boston papers had considerable about it, and I presume likely the New York ones had more. One of those all-accordin'-to-law swindles that sprout same as toadstools in a dark place, but die out if the light's turned on too sudden.
Sure, they might warm themselves by that sprightly blaze, without approaching it so close as to singe their wings; they may come as near it as their master. Not that I would discourage that purity of diction in which he excels all other poets; but he knows how far to extend his franchises, and advances to the verge without venturing a foot beyond it.
Again, there is no more legitimate tax for any State than a tax on the franchises conferred by that State upon street railroads and similar corporations which operate wholly within the State boundaries, sometimes in one and sometimes in several municipalities or other minor divisions of the State.
For example, the Court held that, in the absence of specific legislation by Congress to the contrary, a State may erect a dam across navigable waters of the United States for local purposes *; that the mere grant of a charter to a corporation does not prevent the State from taxing such corporation on its franchises, notwithstanding that "the power to tax involves the power to destroy" ; that the Federal Courts have no right to set a state enactment aside on the ground that it had divested vested rights, unless it had done so through impairing the obligation of contracts *; that the first eight Amendments to the Constitution do not limit state power, but only Federal power that decisions adverse to state laws must have the concurrence of a majority of the Court. *
We'll lay out a town and build an Opera House, get electric light and street railway franchises a million? Why, there's millions in sight when you consider the possibilities." The painting of the roseate picture had flushed Mr.
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