Lynchburg Virginian. [volume] (Lynchburg [Va.]) 1829-185?, 1839-05-13
Erom The AlerdHdrid Gazette.
POLICY OF CORPORATIONS.

An evil principle, now AT work in society and
which propdsatej and encouraged by the leaders of
the Administrator party, is settled hostility To
all Corperatioos and especially Baking Corpora.
tons, on the ground lhat they ALisrocRAr ins
tions and that II IS, therefore, most prass ouhy and
democratic. 10 denounce and oppose tlsm indlscrm
natey Much OF what is uttered on 'his subject, is
no doubt, what 1t has been called " sanseess Jar
gcn;" but there Is with some of the defamation, so
often used just enough of paushillty make the
doctrines incucated dangerous. Letus, therefore
examine ms principle
The clamor against corporations, in these days,
and in this country, has high authority, and extends
from the Chief Magistrate down TO the cross roads
politicians. The President has scfuped in his
Message 10 Congress 10 denounee " institutions OF
associated wealth." aud his followers hIve ,aken up
and echoed the cry.
Gov. Pope, OF ken,ucky, in his speech in the
House OF Representatives, "a very able one) has
ferred to this the corporations Of the country
commenced by the President. lie says. that the
President IN his denuncIatons Of corporations and
associated wealth initiates British lyrant, James
the FIRST Que OF he Charess, Tho, IN the plentude
OF his roy al prer0gatye asserted the ugbt TO annul
the charters OF corporations IN England lie annul-
led one, that OF The city OF London, and alarmed o.
Tiers into a surrender of their charters, and they
obtained new charters from his Majesty upon the
payment of a bonus. He did not make
tuptons 10 secure the Liberties good OF the Peo-
pie, hut TO increase the power and patronage of the
Crown. and to ill the Golfers Of the King. Wholh-
ersBy higher motives influence those who denounce
corporations here, is LETT 10 others determine.
What is meant by associated wealth This slang
either has definite meaning or is the lowest sort
OF loo oocoisnl-ntended TO array the poor against
the rich. State, every political association bo-
dy polite, Is a corporations it is associated wealth
men unite and form State or body polite.
cure property well life and liberty and for the
general happiness and prosperity An incorporated
city town is body polite; association Of
wealth or property, for the better security Of pro
perry well as life aud liberty, and every other
blessing incident to the social state Many corpo-
raious composed of individuals with small funds,
who pat small sums together to accomplish some
useful object. which the surplus capital of
individual is competent. Bridges, roads, insurance
companies of every kind, formed in this way
These corporations, formed by many Individuals
create common interest, and are so many fixtures
IN the State, giving strength and stability 10 the
whole frame OF human society.
Without being at all partialto Corporations, with
extra or exclusive privileges, or the defenders
of the banking system, as 1t now exists, We
vet maintain that these institutions OF associated
wealth the products Of free princ ples-thal they
flourish best wherever iiberiyis understood and
chcrshed-that they democratic in their nature,
because they operate for the benefit OF The people,
and confer the greatest good upon the greatest num-
ber-that they restrain the power and patronage Of
Government by prosecuting works, which, without
their aid, the Government would have to engage IN
and that the evils connect ed with hem. such are
inseparable from all human contrvances, and org-
nate more in the agents employed to administer
their affairs, than in their general plan and organiza-
ton. Suppose that these revived corporations were
stricken from existence, by the fiat OF public pow en-
what would be condition the OF society Instead of
a thousand free corporations, would we not The
wealth of the country carefully boarded up by the
riches, men, and used by them exclusively FOR their
own ACKNOWLEDGEMENT! Would not industry be par
| ayzed and enterprise checked We put these
questions TO the honest and rejecting people of this
| sciences.
1t is, u.s. somewhat strange that the war against
Corporations should have sprung up suddenly. For
fifty years the States have gone quietly and regn-
larry IN organizing the institutions OF associated
wealth." BY their means canals and raIros,Is have