, 1840-12-05

-.
tiun. unhapp.ily 10" prevalent OF late when
by grant, 10 associations of individuals. oil
pr, lle.es AMI i%mnuniiies of an exclusive Nh
ture. with the "~stenSilie design ui aiding ano
Stimulating industry and enterprise, has
brought INTO bel G Il comblnatiun III asS"cii''
ted wealth, exercising, 10y means oi It's "X-
elusive privileges, its vast pecuniary resour-
ces, and its sordid appeals TO the most selfish
passions that find an abode in the m
heart, a political influence fraught with the
most imminent danger to our republican IN
situations.
We point. with just pride to these insittu-
tlnns as founded upon the sublime axiom,
that the people are the legitimate source oil
all political power; we openly proclaim, that
our government is one of equal rights and
equal laws: we acknowledge the supremacy
of the laws; and yet in the midst OF us, we
behold a privileged order, openly setting at
defiance those very laws TO which they W
their being. and impugning every republican
principle upon which our government Is ba-
sed.
MANY of those wholesome checks that IN
every civilized community are imposed upon
uIan for the protection OF his fellow man,
are rer"vcd from most Of these Toney I'd
cnrroratIons. In truth. they are sought l"r
as much from that unnrinlri license wth'ti
ihev generally ic>ruw. as :"r the political
influence they are ena'IIed 1" exercise.
Wealth in the hands of those subject 10
the general laws of the land, is Il potent IN
s,ruunent of either good or evil: IN The hands
of those not subject 10 those laws. 1t Is, uSu-
ally. the instrument of evil rather than good.
We are fought IN The history ot nations, that
~poIular rights once voluntarily parted with
arc no, easily regaiued; and the history Of
our own times is filed with instructive les
sons. at tie danger Of deparlIngir"m iundl-
mental political principles. May we profit
by these lessons.
la making these general remarks, | am not
10 be understood as entertaining a settled
hostility To all moneyed corporations. Il
created with the view of atlording facilities
To exchange. Father than OF furnishing n cir
c%ulating medium; il their members are not
exempted from the same Liabilities that are
imposed upon the rest of the community. and
such restrictions can he thrown around them.
as will eilectullly prevent their .eing used
as political machines. or rendered suhScrvIent
10 personal ACKNOWLEDGEMENT. they will retain
every useful quaiI'y, aud he <horn If ;heir
present dangerous Influence upon the rights
Of individuals. and The character at our InSti-
tutInUS.
Tie L. %isIaiure Of Missouri has not been
Ilibeial IN granting acts of Incorporation To
private companies, Tor various purposes:
whether those corporations have fulfilled the
object Of their creation. whether they have
ItrIsci he powers granted, or exercised pow
ers not given: whether they have obtained
charters. ">,cnSlrlv for one purpose. and
then engaged ~ the acconpl shment "i very
dI!lrrrnt purposes. are al questions deeply
Interesting I" the community. and worthy "l
street inquiry bS the represent lives "i the
people. aud # ii shall be found that any ui
them need the correcting hand al the law
mrkIn-. mr Law administering power, the
r.meiy can he applied.
Ia view Of the rapid increase Of incorpora
tel comp mes. the avidir with which they
are sought and the immense influence and
power tIriehy Conferred upon The few. sub
nii. whether II IS Just, or consistent with the
spirit 81 our government and her free InSti-
luiIpn>. la exempt the members oi such cor
per ,IinnS from the il Utilities imposed upon
the rest oi 0ur ellow-CitiZens. In your ef-
forts to bring about so desirable Il reforma-
tIon. WITHIN the limits of our state. | tender
you the z alous corporation Of the Execu-
tive.
The trainers of our constitution, sensible
of the evils Of exclusive banking. limited the
power of the legislature To the establishment
of one bank 4 five branches. and the capi-
tai Ia five miIlIrnSs uf dollars, one half OF
wrIc'r. Il le tSt. 10 be reserved for the use of
the state. Ia citing upon this subject. the
L. gISiaIul" ERECTED ne whole of the capital
stock not sur>,r he'd ~ miIv,d ats. - hr Ia
ken by the sta. ari i',rri> t. -, ..-uri
The. Ik"wISr p'ciLrti IL. iutii
ni the State lar IN additional five millions.
when borrowed by the hank. IL he loaned
Ia the ~ciriZens. under the character of Il trust
fund. These measures Ind their origin.
Il 'ujtleSs. !, The best intentions, and were
designed l., nd Vance the Interests. and pro-
mote the prosperity al the people. But ]
t" the legiSi iture, with difiidence |
whether ifthe citizens Of the state
de- not feell sufficient interest. to aid in the
ltInn of bank facilities. by voluntary sub
for the stock of the bank, they