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Page 165 - The owners of not more than eight shares each were entitled under the act to one vote for every two shares which they held ; those owning shares in larger number should have votes in a scale decreasing until it reached the basis of ten votes for forty shares and one vote additional for every ten shares above that number. Elections thereafter should be made annually according to the same system of balloting. The company was vested with all the general powers enjoyed by corporations in the state, was...
Page 20 - And yet, in the larger aspect, that system was a source of weakness and a failure. Transportation is not an end in itself, but, when rightly used, is a means to the end of increasing wealth, developing resources, and strengthening society. And in the South these greater purposes were not accomplished. The building of railroads led to little else but the extension and the intensifying of the plantation system and the increase of the staple output. Specialization and commerce were extended, when just...
Page 407 - In connection with the recent talk of gold production as the cause of high prices — there is much of value and illumination in this wellreasoned, scientific, yet readable work." — Record Herald. THE MACMILLAN COMPANY Publisher* 64-66 Fifth Avenue New York BY EDWIN RA SELIGMAN, LL.D. McVickar Professor of Political Economy, Columbia University. Author of "Essays in Taxation," "Shifting and Incidence of Taxation,
Page 55 - In point of situation and commercial consequence it is second only to Augusta. * * It is a handsome, well built Town, and presents to the view of the astonished traveller, a Town which has risen out of the Woods in a few years as if by enchantment : It has two Warehouses for the Inspection of Tobacco.
Page 136 - Charleston . . . has for several years past retrograded with a rapidity unprecedented. Her landed estate has, within eight years, depreciated in value one-half. Industry and business talent driven by necessity, have sought employment elsewhere. Many of her houses are tenantless, and the grass grows uninterrupted in some of the chief business streets.
Page 158 - The whole country for 100 miles from the seacoast is as level as your frog pond. After warming ourselves, we were shown into a room furnished with a few old chairs and a table. The food upon it was good; the cooking probably that of slaves — miserable. After supper I went out and stood by the fire in the open air. . '. . At last tired and fatigued I applied for a couch to the landlord. There were, I believe, but five rooms, and twenty-five or thirty passengers were to share them. The landlord led...
Page 397 - History of the Railroads and Canals of the United States of America, Exhibiting their Progress, Cost, Revenues, Expenditures and Present Condition, covering the development of transportation in the New England and Middle Atlantic states and Maryland.
Page 12 - Canals, on the whole, were clearly not the solution of the problem, except for such special localities as, for example, that of the Dismal Swamp. Efforts were made at systems of turnpike roads, and in Kentucky and Tennessee they were built with considerable success. But in the cotton belt the case was peculiar, and hostile to the prosperity of a toll system. The cotton producers harvested and marketed their cotton in the fall and winter season, when there was little other work demanding attention...
Page 407 - Indeed, we doubt if any author has achieved such eminent success in the solution of the difficult problems of city government as the author of the present work.