New-York daily tribune., 1846-01-14

18th ult These were received week ago In COM
pany with other New-York papers of every date
from Nov 9th TO Dec. l7th and with letters posi-.
marked 18th December
IL the Is cent rate of postage would form rene
dy. for decency's sake let us have Il imposed
Very respectfully yours, Y.
Constitutional Observation-Disclosures of the
Judiciary, sc.
The fret of series of Constitutional heiorm
meetings of citizens of Madison County without
dis,incton OF party was held at Hamilton on the
10Th nit A Committee of forty was appointed to
araf, resolutions for the consideration OF the meet
Ing, who reported series embodying the follow
ing propositions:
l. thorough Judicial and Legal Reform;
Q An shrdgement Of Executive Patronage
g. No State Debts unless sanctioned by direct popu.
ar vote;
T. No loaning of the State Credit to Corporations
s. No chartering OF Companies for Banking or Busi-
ess purposes without exactng the Individual Liability
Stockholders;
6. Tho Senate to be no longer Court OF Errors;
T. The Right of Suffrage every male citizen over u
years. unless insane criminal.
8. All citizens to be eligible 10 all Ofices
0. Single Senate and Assembly Districts;
10. Local Legislation left to Boards of Supervisors
cept the Sd, 4th and 5th, and we are inclined TO
concede the Sd and 4th for the sake OF peace and
harmony among Reformers. That regarding a
State Debt is all right unless the People are TO be
required TO vote specially on each Public Improve
naent, which would be wrong. Let the friends OF
Internal Improvement make out their bill, pass IT,
and lei the People say whether f shall or Shall not
take effect in case it shall involve loan or will
render one necessary. This accofds with the Hoo
sick and Hamilton Resolutions; why won't 1t do!
As to Loans to Corporations, we doubt the policy
OF their imperative prohibition. Tho Southern Sec
ton of our State has been greatly benefited by the
Delaware and Hudson Canal, constructed by the
help of just such loans which will have saved our
People at least 81 100000 in the cost OF their fuel
without taxing them tarthing as tive Canal VIII
readily pay off its loans. Messrs. Van Buren and
Wright fathered this and ii was wise and benet-
cent act Is it necessary that should prohibit all
such hereafter Boston is connected with Albany
by e Railroad constructed by means of very large
State Loene to u Corporation, which Eoans the
Corporation will pay, leaving the State "ome mil,
lions richer for the operation without It's co'ing her
one cent. Why must this be forbidden?
The Individual Liability of Corporations is a
There is needed for example, n Bridge over the
Hudson River at some point where 1t Will cos
$4,000, and Company is chartered TO construct 1t
Every one who can spare Slo0 within the vicinity
is importuned into taking at least 500 share o
the Stock. The stock fills up slowly, and meantime
contractor takes the job of building the Bridge
and goes about II, 1t is finished and accepted, but
not all paid for, when freshet comes and sweeps il
away. The same freshet bankrupts most of the
stockholders go that they can be made 10 pay no
thing: but there are two three widows and or
phans left with something, and on them the con
tractor pounces. and strips them of their all TO I'll
his measure of profits on the lost Bridge. This /:
the way the Individual Liability clause has worked
and will work The roguish, the cunning the SHARP
dealers never caught by it the simple and the
unprotected are. 1t is very wrong, and will keep
the rich and the careful of enterprises that they
ought 70 assist and encourage. There are many be
nefcent and benevolent enterprises which canno
be prosecuted because of the natural and jus, dread
of Individual Liability. We have repeatedly aske,
men of Properly take stock to the amount of slot
TO $500 in some enterprise which we deemed lauda
bic and benefcent and been answered. Il woult
cheerfully risk the sum you ask, but cannot ven
'ture to involve myself in difficulty. &c, charter
50 tha, my liability will be limited to my subscrip
ton and will do what you require" Now sup
pose hundred men willing to risk 500 to
$1,000 each in laudable enterprise, fairly ad
verdsing the public OF the amount of their invest
ment and the nature and limitations of their respou
sbility leaving the public free trust them nor no,
on tho strength Of such investment and responsible
y. Why should the State in,erpose Veto and say,
oo sash not do as you all agree to do. bat as we
cnoose 10 have itr We freely admit-nay insist
on-ne fishs OF the State TO interfere with ndivid.
aai bargains where the Public Good requires such
interference but we insist tha, in this case the ood
is exactly the other way. and ,ha, Bu.ness ba.
its own laws In this respect better than The State
could make them for il This principle os Jir,;,.d
Liability is so rooted in justice and genera, n,;,,
tia; it cannot be eyadicated-,he law NAV ,vo--,,
and badger it, and drive j, under cover bu, i, will
go on, and nothing but mischief result from rn
attempt TO destroy it AS TO Moneyed Corpora.
ions, the General Banking Law exactly hits their
case by exactng ample security for their issues,
be lodged with the Comptroller; and if the present
requisition is insufficient let US have it increased
But requiring one man who takes fen shares in a
Railroad, Manufacturing Bridge Company, to
risk thousand lines as much thereby as another
man who holds equal interes, in the same enter.
prise and receives equal profit therefom, is most IN
Just and tends, by discouraging the investment, Of