Massachusetts spy and Worcester advertiser. [volume] ([Worcester, Mass.]) 1823-1825, 1825-06-08

lty OF the nation. ]: is upon this class of men,
thus bound TO country by the ties of an insep-
arabic interest, that Free Government may
always securely rest, for the best support of
patriotism. The special countenance which
recently has been accorded by the Legisla-
ture to the incorporation Of Agricultural So
cieties, and in liberal gratuities granted to
their encouragement, has been attended with
the most decidedly beneficial effects. The
style of hus5andry has extensively improved.
Labor is more advantageously applied to the
cultivation of the earth; domestic animals are
of better quality, reared with more care, and
treated with greater kindness. The salntary
influence of these institutions can no longer
be doubted. The general face of the coun-
try, the increase and variety of the product
of the soil, the selfcon6dence of the Farmer,
and the highest estimate, By others, Of his
occupation, alike distinctly bear witness 10
the utility which attend them.
If the Commerce of the country has latterly
been attended with diminished gains, it has
nevertheless been pursued with general ad-
vantage. and with but little interruption in
the ordinary channels. The dangers to
which portion OF our trade, and the lives Of
our seamen have been exposed, through the
blood-thirsty and remorseless :apacity Of the
freebooters of the ocean, have been in a
great degree removed, by the energetic meas
nres of protection and chastisement adopted
| by the General Government, and enforced by
the gallantry of a devoted Navy. The nation
is on terms of friendly intercourse with every
civilized people, and the marts Of the world
are busy with the traffic of our enterprizing
merchants.
| In .4anufactures, the progress of the coun-
try has exceeded the anticipatons Of the
| most sansuine. A few years sInce,. and
scarce water-wheel moved in our Common
wealth, except for the ordinary purposes OF
preparing grain for bread, or lumber for build
ing, or in facilitating TIE simplest operations
Of the mechanic. Now there is hardly
waterfall in our streams, but is improved TO
the propelling Of machinery for the manulac-
/ ture of fabrics of clothing, and of articles of
domestic economy. Through The instrument
tality Of the most ingenious Of our citizens,
the nation may be considered already indie
pendent of foreign supplies, for whatever is
useful in the arts of peace, or Indispensable 10
defence in the calamity Of war. The objec
tons which heretofore were SO much urged to
the foundation oflarse manufacturing establish
ments, from the fearful neglect Of education,
and a consequent Indifference 10 the restraints
Of social obligation, are found not to exist un-
| der the well regulated tone OF American sem
tilnent, and we have the delightful witness of
every days observation, that the richest
sources of wealth TO our country may be
cultivated without danger to the moral habits
and chaste manners of numerous class of
our population. 1t was long political soph-
| sc ;,,p, II,
and instructed people would be easy TO yield
to a selfish and sordid ignorance, and that the
facilities which an opportunity for acquiring
knowledge gives to the power of industry,
would be battered for the gains, which few
hours of time might extort from manual labor.
Happily the workshops Of our artzans exhibit
nothing of such reproach. Occupation, So
briefly and skill, are their distinguished char
acteiistics. A conscientious and praise-wor-
thy regard TO the instruction of children has
mingled with the provisions for their employ
ment. The parental superintendent of the
Legislature will continue to watch over these
institutions, that they shall never become The
nurseries Of immortality and crime.
| cannot permi. myself to pass from this
interesting subject, without inviting the atten-
ton of the Legislature to a consideration of
the expediency of revising some of the pro-
visions of the statutes, defining the general
polcers and duties Of Manufacturing Corpora
lions. As the law now exists, it is to be fear
ed, that no uncomfortable portion Of advan-
tage, which would result from the employ
ment of capital in profitable business, and
from the encouragement Of an industrious pop
ulatlon, is lost to the Commonwealth. Not
only the property and credit Of the Corpora
tons are made responsible, in the first in
stance, for the payment Of debts, but the per-
son and private estates of the stockholders
are holden ultimately liable, pithom En,ifa-
lion Of time, and 10 the full erient of contracts,
however small may be the proportion of
stock which the individuals shall possess.
| Thus single share, of inconsiderable or no
value, subjects the proprietors to the hazard
OF being made guarantor to the amount of
hundreds of thousands of dollars, in credits
obtained by the corporation. Nor is he exon
Grated by an honest transfer of his stock, and
ceasing to be a member of the corporation
for the jealousy of the law. not satisfied with
devo!ving upon the purchaser the same LA
bilty, holds the seller also, bound to the dis
| charge ofevery precedent obligation. While
the success of manufactures was of doubtful
| experiment, and the business, to some extent,
| as at first, in the hands of rash and unskilful
adventures, such provision might be requir-
ed for the protection Of the confdins and
unwary: but the soundncss of the principle
which gives to the creditor of corporation
resort TO personal responsibilities, which did
net exist when the credit was obtained, and
could not have induced TO it, is, at best,
questionable. The trust which is given TO
corporation is always voluntary. The
amount capital stock, the management and
success of business, the apparent Circumstance
es of solvcncy, may easily be ascertained,
and if these are unsatisfactory, special sure
ty-ship may be required, or credit refus-
ed.
In government protesting deep interest
in the prosperity of Domestic Manufactures,
and acting under this profession, in incorpo-
rating Manufacturing Associations, the policy
ofrequring that each proprietor of stock shall
personally guarantee the responsibility Of
every other, and they, severally, the credit
of the Corporation, to the full extent of the
doh IA h. I'll I.