Liberty advocate. [volume] (Liberty, Miss.) 1835-1866, 1839-06-24
From the Ateaandria Gazette.
POLICY OF CORPORATIONS.

! POLICY OF CORPORATIONS.
An evil principle, now at work in society and
which is propagaled and encouraged by the
leaders Of the Administration party, is settled
hostility TO all Corporations, and especially
Banking Corporations, on the ground that they
are ARIsTocRAT institutions, and that il is.
therefore, no.t pcaisewortfy /, and democratic,
10 aehounce an1 oppose them lndlscriminateIy
Much of what is uttered on this subject. is, no
doubt. what it has been called, "Senseless lar.
fgon;" but there is With some of the decIama-
uon, so often used, jLs: enough of plauSbity
to make the doctrines incucated dangerous
Let US, therefore, examine this principle.
The camor against corporations, in these
4 days, and in this country, has high authority,
and extends from the Chiel Magistrate down
to the cross roads politicians. The President
has not scruped in his Message to Congress to
denounce constitutions OF associated wealth.
and his followers have taken up and echoed
The cry
Gov. Pope, Of Kentucky, in his speech in the
HOUSE of Representatives, Ga very able one)
| has referred To this war OF the corporations oi
The country commenced by the President. lie
saws that the President in aIs denunciations OF
corporarions and associated wealth initiates 4
British tyrant, james .ihetirst, or one Of the
I Charles, who, in the pleniIudc of his royal
4 preronative, asserted the right 10 annul the
charters of corporations in England. He an.
nuled one, that Of the city oi London, and "a
larfnel others into surrender OF their char
Tiers, and they obtained new charters from his
Majesty upon The payment Of bonus. He did
not make war or cosruptIons 10 secure the lib.
critics or good Of the Peoplt, but to increase the
power and patronage Of the Crown, and to fill
The Golfers OF the KING. Whether any higher
motives influence those who denouuce corpora
tons here, is left to others 10 determine
v ha, is meant by associated wealth? This
slang either has no definite meaning, or is the
lowest sort OF locoocoiSm --inten led to array
the poor against the rich. 4 State, every po-
ilicaI association or body polite, IS corpora
lion; it is associated wealth.; men unite and
form State or body pIiiric, 10 secure proper.
~ as well as Lille and liberty, and lor!he gene
rul happiness aud prosperity. An moor. ora,
ted city or town is body polite; an aS'oca-
| on OF wealth or property, Tor The better Secu-
rity Of property, AS we'll as lite and liberty, aud
every other blessing n}icnt to the social stare.
MANY corporations are COM posed al indlvl1u-
ais with small funds, who pet small sums to-
gether to accomplish some useful object, to
which the surplus capita, oi no one individual
i, competent. Bridges, roads, Insurance com
panie> OF every kind, are formed III this way
i These corporations, formed by many lndlyidu-
ais, create common interest, are SO many Xix
lures in The State, giving strength and stability
20 the whole frame of human society.
Withou, ueing al all partial 10 Corporations,
with extra or exclusive privileges, or the delen-
dcrs of the banking system, As II now exists, we
yet maintain that these institutions OF assocIa-
ted wealth arc the products of free principles
that they flourish best wherever liberty Is most
! understood and cherished--that they are demJ'
cratic in their nature, because they operate tor
the benefit Of the people, and confer the great
est good upon the greatest number--lhai they
restrain the power and patronage OF Govern
ment by prosecuting works, which, without
their aid, the Government would have TO en-
gage inland that the evils connected with
them are such as are inseparaGc IRON all hu
man contrvances, and originate more III The
I agents employed 10 administer their affairs
than in their general plan and organIzalloI--
ISuppuse that these reviled corporations were
stricken from existence, by the fiat OF pubic
> power, what would he the condition OF society
Instead of a thousand free corporations, wouIt
we not sec the wealth ofthe country carefully
boarded I'd by The richest men, and used by
6 them exclusively for their own aggrandIze
/, men,? Would not industry be paralyzed ant
, enterprise checked? eputthese questions tt
, the honest and rejecting people OF ibis country
, and ask them to answer OH their oonscenceS.
: II is, TO US, somewhat strange that the wa
against Corporalions should have sprung vi
: sui .eaIy. For fifty years the States hav'
: gone on quietly and regularly in organizing
The constitutions Of associated wealth." Is,
their means canals and railroads have inter
+, sected the land-4manulacIureS have sprung VI
II and enriched the peope-comncrce has pros
pered--weulth has spread, increased. and equal
lized-lands have been cultivated and improves
--and business, trade, and industry aided an
Encouraged These are the results oi Oener
a cent Iegislations, against winch politicians no'
: seek 10 enlist popular prejudice and the wors
feeling oil those who will consent to oe duPe
by the arts Of demagogues May we NOT see
reason for the cause Of this, IA the fact tina
= these CORPORATIONS, BY their very actlo,h ole
] barrier to the progress Of those who won'
take advantage Of poperty and ignor nee Z
w here thew are in full operation dispenslrl
y ,re, and facilities To the indusi rious and el
!, ierprisng, there are not many vile and mi
~ chieyous enough TO lend themselves TO the ust
~ of their fatterers--nor have the people u
time 10 spare--to listen 10 the harrangue
IS, those who labor 80 assiJuOusly 10 make the
= believe that they are abused and oppressed.
Indeed. we may safely assert that the ext
y ,ence cr ,b.se constitutions ofassociaicd wealth
kS.Nlt SfaaIM