The Atlantic Monthly, Volume 02, No. 13, November, 1858 by Various
page 30 of 309 (09%)
page 30 of 309 (09%)
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railway-directors who know how to reduce the operating-expenses per
mile, and not men who oppose their bigoted ignorance to everything like change or improvement, who can see no difference between science and abstract ideas. It would seem that the only question to be asked with regard to the fitness of a man for being a director is--Is he rich and respectable? If he has these qualities, and is pretty stupid withal, he is in a fair line for election. We tell our railway-readers, that, if they desire to make their property valuable, and rescue it from becoming a byword and a reproach, they have got to elect men of an entirely different stamp,--men of practical experience, in the best sense of the term, who have intelligence enough to know and apply all those vital reforms upon which depends the future success of their undertakings,--the men of the workshop, the track, and the locomotive. And we shall yet see the more intelligent of them taking the place, at the directors' board, of the retired merchants, physicians, and other respectable gentlemen, who now lend only the names of their respectability to perpetuate a system of folly that has reduced our railroad-management below contempt. As at present constituted, our boards are a very showy, but very useless piece of mechanism. The members attend at meetings when they feel just like it, and sign their names to documents and statements which have been prepared for them by others, without much knowledge of what the contents are; their other duties consisting chiefly in riding over their own and connecting roads, free of charge. Why should railway-directors work for nothing for the stockholders? Ah, Messrs. Stockholders, you little know in reality how fat a salary your directors make to themselves, by nice little commissions, by patronizing their favorite builders of locomotives and cars, and by buying the thousand and one patents that are so urgently |
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