pendix. Measured by the average standard of railroad legislation, this may be considered a stringent act.

The law of Massachusetts is considered by many competent critics to occupy the highest place as a precedent or model for railroad legislation in America, and is com paratively well known to foreign investors. A short extract showing powers reserved to the Commonwealth is subjoined.

APPENDIX.

Extracts from the Constitution of the State of Georgia relating to railroads, together with the law creating a Railroad Commission.

CONSTITUTION.

ARTICLE IV.-SECTION II.

Paragraph I.—The power and authority of regulating railroad freight and passenger tariffs, preventing unjust discriminations, and requiring reasonable and just rates of freight and passenger tariffs, are hereby conferred upon the General Assembly, whose duty it shall be to pass laws, from time to time, to regulate freight and passenger tariffs, to prohibit unjust discriminations on the various railroads of this State, and to prohibit said roads from charging other than just and reasonable rates, and enforce the same by adequate penalties.

Par. III.—The General Assembly shall not remit the forfeiture of the charter of any corporation, now existing, nor alter or amend the same, nor pass any other general or special law for the benefit of said corporation, except upon the condition that such corporation shall thereafter hold its charter subject to the provisions of this Constitution; and every amendment of any charter of any corporation in this State, or any special law for its benefit, accepted thereby, shall operate as a novation of said charter, and shall bring the same under the provisions of this Constitution: Provided, that this section shall not extend to any amendment for the purpose of allowing

any existing road to take stock in or aid in the building of any branch road.

Par. IV.―The General Assembly of this State shall have no power to authorize any corporation to buy shares, or stock, in any other corporation in this State, or elsewhere, or to make any contract, or agreement whatever, with any such corporation, which may have the effect, or be intended to have the effect, to defeat or lessen competition in their respective businesses, or to encourage monopoly; and all such contracts and agreements shall be illegal and void.

Par. V. No railroad company shall give, or pay, any rebate, or bonus in the nature thereof, directly or indirectly, or do any act to mislead or deceive the public as to the real rates charged or received for freights or passage; and any such payments shall be illegal and void, and these prohibitions shall be enforced by suitable penalties.

Par. VI. No provisions of this article shall be deemed, held or taken to impair the obligation of any contract heretofore made by the State of Georgia.

Par. VII. The General Assembly shall enforce the provisions of this article by appropriate legislation.

The following is the law under which the Railroad Commission was created, being Act No. 269, Part 1, Title 12, of the Acts and Resolutions of the General Assembly of the State of Georgia, 1878-1879:

AN ACT

To provide for the regulation of railroad freight and passenger tariffs in this State; to prevent unjust discrimination and extortion in the rates charged for transportation of passengers and freights, and to prohibit railroad companies, corporations and lessees in this State from charging other than just and reasonable rates, and to punish the same, and prescribe a mode

of procedure and rules of evidence in relation thereto; and to appoint Commissioners, and to prescribe their powers and duties in relation to the same.

WHEREAS, it is made the duty of the General Assembly, in article 4, paragraph 2, and section 1 of the Constitution, to pass laws from time to time to regulate freight and passenger tariffs; to prohibit unjust discriminations on the various railroads of this State, and to prohibit railroads from charging other than just and reasonable rates, and enforce the same by adequate penalties; therefore,

SECTION 1. -Be it enacted by the General Assembly of Georgia, That there shall be three Commissioners, appointed by the Governor, with the advice and consent of the Senate, to carry out the provisions of this Act, of whom one shall be of experience in the law, and one of experience in railway business. After the expiration of the terms of the office of the Commissioners first appointed, the term of office of successors shall be six years; but, at the first appointment, one Commissioner shall be appointed for two years, one for four years, and one for six years. The salary of each Commissioner shall be twentyfive hundred dollars, to be paid from the Treasury of the State. Any Commissioner may be suspended from office by order of the Governor, who shall report the fact of such suspension, and the reasons therefor, to the next General Assembly, and if a majority of each branch of the General Assembly declare that said Commissioner shall be removed from office, his term of office shall expire. The Governor shall have the same power to fill vacancies in the office of Commissioner as to fill other vacancies, and if, for any reason, said Commissioners are not appointed during the present session of the General Assembly, the Governor shall appoint them thereafter, and report to the next Senate, but the time until then shall not be counted as part of the term of office of said Commissioners, respectively, as herein provided. Said Commissioners shall take an oath of