Cheraw gazette. [volume] (Cheraw, S.C.) 1835-1838, 1836-12-13

| At no period OF our history, anu VIC oe-
levc at no period ofthc world. has the mama
for stock companies been 50 rIic, and we
may add so alarming. us at the present day.
Hardly a new branch of industry can be
mentioned, however adapted TO individual
means and enterprise, which is not mmc-
diately monopolized by mammoth charer-
cd associations. We say monopoh=ed-
for when these associations come in COM
petition with individual effort, the weaker
party must either be crushed, or become
humiliatngly subservient to the stronger
power. Nor does the disparity exist alone
in the amount of wealth, and the weight Of
inhucnce,-the stronger party has further
advantage in its chartered privileges, which
are not only withheld from the individual,
but which absolutely abstract from his nat
ural rights ;-as for instance, the individual
is amenable to the laws for his honest debts,
TO the ertent of his entire means while the
chartered associations arc not amenable Tor
company deb,s beyond their actual Unrest
ments. although its members may be worth
millions. 1t is question worthy OF high
public consideration, whether q, charter
should be granted for any object, which an
individual, or common partnership, arc
competent and willing to undertake-and
whether they should be granted in any case
where the public good does not indisputabIy
demand them. Mankind are disposed to
live ratherby their wits than by their labor,
and when government protlers ready faciI-
ties for speculation in stocks, without
manifest countcrbaancing public benefit, it
feeds some of the worst human passions,
and impairs that equality OF rights which
ever ought to be preserved among the citi.
zens of "a free State.
But the multiplication Of chartered CON-
panies, for trivial or doubtful objects, has an
irresistible tendency to unscttle and derange
the good order of society-to bring honest
industry into dscrcdit, and TO foster spirit
ofdeceptive, desperate speculation, which
proves the ruin ofthousands. Our situa-
ton, for the last twenty years, has enabled
US to observe the movements, and to scan
the motives, which have led TO the rapid
multiplication of chartered associations
among us; and We honcs; " avow it as our
belief, that the motives have been generally
those Of speculation, with little or no re-
gard or tendency to the public good: and
that the means rcsor;cd to, to ob!ain char
tiers. have generally been disingenious, ofien
dishonest, and sometimes infamous. We
admit that the public interests have been
greatly promoted by charters for objects of
magnitude, requiring great capital. But
because some are beneficial, it docs not fol-
low that all arc so. Because it requires
concentration Of capital, and corporate priv
Ieges 10 dig a canal, or construct rail road,
neither Of which come in competition with
individual enterprise, it does not follow, that
the like capital and privileges are required
10 plant the mulberry, or cultivate the beet,
which every farmer and gardener can do
without corporate powers.
The subject addresses i;s.lf TO the good
sense, and dispassiona:c consideration Of
every friend TO good order and wholesome
laws.-The evil can only be arres,cd by
tic mandate of the public will.-CuAirator.