New-York daily tribune. [volume] (New-York [N.Y.]) 1842-1866, 1845-08-29
THE TRIBUNE.
NJ, UurIbpf ON Corporations. The Loco
FOcO Theory.

.,sect Of the now dominant party OF thls country.
sbsve begun 10 exercise a control over It's masses
I'm influence its action, set forth in clear and
,,.oog light, by one whom the public would recog
90 as master of the school, and in whose
IND. they would assume method, consistency aud
oalpabe form. The party very naturally es-
.,oe. any serious responsibility for the defamation
q n. minor brood Of journals about the unchar
ord Masses soullcss corporations, &c. &c. which
,rs populary held to mean nothing more than an
,,,ions desire TO win votes from the most excable
and leas, rejecting portion Of the Constituency
,,d thus in the current belief of the party you
x;l6nddihereni shapes and phases about as numer
,.s a. the individuals from whom you seek to
,ber the party creed One is hostile to all corpo-
atoms whatever; another 10 all moneyed corpora
lions, third only to those which issue irredeema-
he PAPER. las who is notl) The hobby Of fourth
,.,denia OF the right of the Legislature to author
ne the taking OF private property for corporate
uss-snd so on ad iafHitem. If any phase OF le-
Ultimate deduction from the general party doctrines
happens to be locally or temporarily unpopular
hats opposed to what is clearly felt to be
The general interest of the communicate sure thai
and cunning sachems of the party part of H.
authorized creed, however ii may be brawled In
barrooms or even on the stump by weak brethren
whose zeal ouiruns their knowledge and discretion
Mr. Hurbui. therefore, has done the public and
especially the Wing portion Of II, service by the
earness and fullness Of his statement OF what are
,ruy the doctrines which characterize not dis
pnagingy but purely for the sake of distinctness
and convenience, as Loco F0co. The rejecting
reader cannot fail to discern on a careful perusal OF
Ri. volume that these doctrines clearly understood
and stated form a system, which cannot be severed
bat must be accepted or rejected altogether He
will see too that these doctrines have necessary
or natural relation with Democracy, properly SO
termed, though untiring exertions are made to
blend and coniound them. Democracy simply as
sers the equal right of all men to a voice IN cOnst
iuling aud directing the Government which all
must obey. If all are equally hoard in making the
law, equally sub iect 10 its requirements and equal!
punished for breaking them the ascendency of De
mocracy is complete. But Loco Focosm insists
tina, the sphere OF Government and Legislation shall
be bounded by certain narrow limitations which II
sets up. condemning all action beyond those limits
as usurpation and mischief Let Us quote this doc
irine in Mr. Hurbuis own words
II set out in the first par, Of tins work by asserting
that Government merely the instrument which
mankind adopted 10 the full protection OF tho-t
rights which theirs boy the laws OF nature. Tins
the cornerstone OF our entire theory-whch' II WEI
founded precudcs the idea of any state interference
with individual righs except for the conservation OF
rishs in general
We have read this book very a,tentively. Yet We
cannot remember that the author gives US any other
authority for this sweeping assumption beyond his
mere ipsc dirt. or what is the same thing, his re-
peaied afirmance and implication that such oRghf
70 b the limitations of the sphere Of Government
But neither of these begin TO produce conviction il
our hardened nature. II Our entire theory means
the theory Democracy of our actual Federal and
State Constitutions we take issue at once. We
appeal to the prcambes of our Constitutions, ard
TO an unbroken series of legislation under them IN
refutation Of our authors assumption The world
maniiestly. has never yet seen government so lin
tied aud directed as is here set forth. But if
our theory mean simply Mr.. Hurlbuts theory, and
that Of those who agree with him. very well only
lie, it be duly understood that he is propounding
theory Of his own. and not expounding that of the
American constitutions
Aud now let us pass to a practical test OF the
soundness of this theory, in It's authors and advo
Gates iavorile application TO Internal Improvements
80 called and 10 Corporations.
Here our author starts upon the confident assusp-
ton that Corporations are created and works of In
'erna Improvement constructed mainly for the di
rec, pccuuiary benefit of those who take stock IL
hem But we say at once that II no other oi
higher object than this is to be subscrved the argu
neni against extraordinary grant OF power IL
Corporations would have much force. But we fee
sare that intelligent men generally must be aware
NAT the cases SO os,cn,aiously paraded by Mr.
harbut Of extensive corporate powers being per
'er'ed to merely private and pecuniary ends arr
exceptions to the general rule and owe their prom
aence 10 this fact In these cases. the Legislative
ran, OF power was perverted and abused; and
DER legitimate moral is not the uniform denial OF
corporate privileges but caution in granting then
AID in surrounding them with Improbable safe
guards against abuse.
Bu, e, us trace the operation Of the doctrines o.
Leo Focoism on that which zee understand TO be
ne legitimate object of Government, namely. the
Promotion Of the general welfare
Here is the State of Vermont for example. al
nos, entirely Agricultural and greatly needing
cheap and easy access for her products to her
favorable market. which is Boston with iis Manu-.
nc'uring ouipos,s OF Lowell Nashua, Manchesicr
&c A, this time the farmers Of Vermont probab,
Ya'' IN time and travelling expenses. an average o.
H'een per cent on the value OF their products toi
1Anspor'ing them 10 market or what amounts "a
s's same thing. they could, if Boston were just a.
AUG raise something else at least fifteen per cent
N'e profitable than their present products Now
w railroads from Boston TO Lake Champaign
'y way Of Rutland, the other through Monipe
would enable them to send their products to
"A' al an average cost no, exceeding FIRE per
o. In other words. bring Vermont practical,
n''n'n one,hrd of its present distance from Boston
o''a In effect raise the average value Of b.
property a, least ten per cent-ive times n
:. me two Railroads She could ,hereaftc
~. '''an'ase OF any favorable position OF the
W as she now cannot. the opportunity passing
lie. y' on Humsn Rights and ,hsir Political Gusrsn.
Yorh Z. hrkIBuT. Counselor q, Law New.