Richmond enquirer. [volume] (Richmond, Va.) 1815-1867, 1836-12-15
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.or Of this morning, you make quotatlon

,rcr Of this morning, you make quo'at'oh
10 your written BY correspondent OF ene view
from an al t,,riuc!,c, stating that IN 1881, sta
Yok jtH'" Sw Yusk. suhsctin4 all corporations Gre
,e pass" - ,, after tina, time, TO He annued ny icgis.
,cd u W." And y"n express des'te mat 'he Ne"
Arr' .o,lt lurash lie provisions "t ie statute,
lEn ',y .s:sjuas wh'c' nave oeen !aae ah''ef II.
- vi ,a.;n:u. accurate Information on the sub
r;>:'" I;...,,: 10 the second edition O! Chancellor
~; :.'I ',..iics Oh Amcr;cra Law, published in
k&.:> ;..p satisfied that if amy saca general
rr toni = .ic correspondent ~ the New loTk
49,, ''.n.,,d It w"u! not ha'r escaped 'e Chan.
,,'r. :'l' ;'j, rrn,.:as ii The Chancellor on lie
- raraorat:ans. a:ii he found in his second ~
=. ..,,.:,!r; At ?sg'' sd
b*' ..iu ,ysarci public corporations which tx
H. II, rahc purposes, as counties, Gates and t'r"S'
r;'" ,,,urs u.,rr proper limitations, have risNt 10
6: I,fy enisrrc or restrain Them securing, how
- ',rl~ for The uses CT those for whom 1t was
tt,":; \ rGb!ic corporation, instituted for rurpo-
r:@iS..cJ with tl,c administration OF The govern.
=: .,,y !t controlled by the Legislature, bfcause
f5. ,.,,r.i:un is not contract within HE pUTvlcw
-, Constellation OF the United States In th"sa pub
ri ' ,.ns there is in reality BIZ, one party. and the
,.::a',soT E''t'r" - "
- 10 ra.!. c.?uratna whether civil oEscleemosynary
- !,oY ;..twrel the government and the corpora
F". IN, legislature cannot repeal, Impair or alter
" ,1s and privileges conferred ny t'e
=, =,n, a,i without The default Of the c"rpoTaiinn
- 5 o,,r:ai:"d and declared This great prnci-
,,:;,rirnaI law settled in tic case oil Dart
+ " Cj.rt y Heo.!cnrd; and it had been asserted
rzrc, by The Suprrm!e Court OF the United States
''-,, other cases antecedent to that decision But
orr guic The practice IN ell the recent acts Ct in
NH Trans i,r 1ricnic purposes: for the Legislature 10
" r., ihtstcf$ rotccr to alter, 1nad.ty or repeat
sr 4, rs:surc: aud though the validity OF the al
or repeal Of charter, IN consequence Of s"ch
''.,:u NAV nol br legally questionable, yet It may
matter oi serious consideration in many cases,
;c lar the exercise oil Such power couia DC couSis
~, with Justice or policy
Tb.s, legislative reservations OF tight OF repeal,
a. properly remarks, ought to be under the gut
go o.. extreme mode ration ami discretion. An nhso-
~ aud UNQUALIFIED repeal at OF charter OF moor
cfa money trading institution would be attend.
,b ,nost INJURIOUS and distressing consequences.
:. 4 very Guarded and moderate example Ut these le.
,,vc reservations annexed to charter, he says, is
,ipc! in the act ut the Legislature OF New YORK; OF
y ",a,r - le22 cn 90, where it is declared by way
;r,,,:ss p:ov;sn that he Legislature may, alter the
a.,,,u oi five wears, alter aud modify and expunge
~, u,,u cnati:un nevertheless, tba, alteration
;r,,;on shall aul.! or ava!idae the contracts made
-: r with the corporation. and that the corporation may
81 continue 4 COMPUTATION FAR to cp'!ec' and reco-
w. md dispose O! their csia,e real and PERSONAL and
49,, ,,ipir Gyj,$ and divide the surplus
I'm a.5s /. C'ch HpGn tAS i0,crT q repeat al The
,,oa 9, Var lor ,ci:cA re4nircS the assent IF tcO-
> Of The mcsr1rE rsrrd 10 caci braaca IF lac icgis!n
10 ,rtl& i.H H'i,Tjrg arg Jcdy poHtc or tmcorp0Iaic
4.cr gnicr G"y rca,ioM, says The thance!io,
m I, a<.,'rrd by irgiS'ai'cc act rithpM Ike consun
,~l ro,g,.iy ct itrv-EyhS Gj raca housc." The cor
,,..;! 81 Tee New York Journal has probably heard
: -. statute eli Massachusetts passed IN lc3l-l, MAX
80, c...yai provision that al charters VI corporations
,,,9rr cs;iis.cd hi a!': he amended. altered Or re-
.l. i; the pleasure OF the legislature, Ua!csS hre
i he n<e.i,d IN tic act Of interpretations an cypress
.;tfisn q! 20 the Guro.io ot The kents Com
~ aele 4 Even in Massachusetts, where the charter
is .nr ;o certain term Of years, without any rrscr'
wien in Of rgh, to repeal the Legislature has no
p.w,I to repeal II.
Ia New York. when the charter is granted without
aYy :sscryat!" N H. wien i! is granted with such re-
~ and tie constitutional n,aj9rity Of lwo-ihlTds OF
y House be obtained to repeal II, the remedy
then is hy jutjc:a! proceeding.
In .si state It charter be procured from the L"gls-
lac upon spn:c fraudulent suggestion or ccnce"'inenl
material .ac: made by or with the consent or know.
;., If the pcrsoHs Incorporated. it may BE- vacated or
aaGre CpnH ciHS upon the relation OF the Aior-
rrv. General SEE = kcnt's Con-, p 3G6, note Il.
Where The charter has been iair!y obtained without
arv reservation IN II q: Iyl to repeal 1t Is clear pro.
;o:cn bolt, according 10 the Law of New Io'k and that
v;gnia HAT lis corporate privileges can only he Tor
sc by lis own default: judicialIy ascertaired.
am Induced to send This article from belief that The
aorr.aiion it contains will be acceptable from me rs
:l, the New losi Press. PENDLEION.
TUESDAY, December -