The Kalida venture. [volume] (Kalida, Ohio) 1841-1865, 1847-03-19
WHOLE NO. SIG.

ilShi iIoin INC common l0t oT unllmlt0Q res
possibility for bis dealings, which should be
The universal condition Of all sorts of indus
try. But sir, 10 the point for which have quo
ted this precedent: Does any member here
dare, upon his respeciabIlity, deny that this
} law is now, and at al! future time, at the abb
solute mercy OF the legislaturei will an-
sNer for myself There is no doubt Of tho
right of this aud any subsequent Legislature
TO change or abrogaie the State law of Ohio
authorizing limited partnerships. As little
doubt exists oftho effect of any such partial
or total alteration. If partial, the partner
ships under il must conform If total, they
! must ihenceforth cease altogether from doing
any other than business requiring uncond-
tional responsibility. al aa.
This whig precedent Is received, Mr.. Spsa.
ker, by the Democrats with thanks and graf
itade. Itis the very wedge with which the
whole banking system win be rent asundsr
before il is cast into the FIRE. l cn
1t will be perceived sir, thatI deny the
power of any legislature 10 incorporate any
private corporation but literary and scieutfio
institutions. Sorry am | sir, that there should
be any such "bad emiHence conferred on lit
erature and science. Education can only
be retarded by special legislation, and If il
taught TO rely on the favor Of Government,
It vii! soon be effemnate in its nature, and
corruptin its application. aeoT ha2
Another passing remark II was never
Intended by the convention by the 9th sec.
of the Sth article. to confer on literary and
scientific corporators an exemption
from unlimit0d liability for contracts.
| ask gentlemen TO scrulinize the language
of thatsection, and they will agree with me
hat the convention intended literary corpora
lions according TO the CIVIL law. Under that
law "any ASSOCIATION of persons" could as.
socaie by common name, provided, says
Blackstone, Com. All. "Such connection
was not contrary, 10 law" Now the indivd-
ual responsibility of tho corporaters was net
altered, the association Of persons by suit
able designation was for convenience alone.
And so say in all our schools, colleges and
universities. the corPoraiors are individually
liable the same as if mot incorporated. To
proceed, it has been uniformly held that
public corporations for state sad municipal
purposes, the legislature can create, or r9peal
at pleasure. Nowit seems to me thet all
tUd JusI oUIecIs GIIa PuIpUSss Vf "A PGuIIc cor
poration might be as we'll attained and bet
ter, by general laws than by charters but I
will not 90 into that question. The gulf be-
tween these private corporations we are dis
cussing, and those public corporations, is
wide and impassable, and ] am dealing with
these, not with thosc. They are the mer.
cenary stra,agems for making the "rich rich
er aud the poor poorer'' called "priv,te cor
poratons" against which this whole argu-
msnt is pointed, and the hottest hos,ility Of
the Democracy is sternly invoked. Ofthese,
banks are the head and freni AS to other
corporations for roads, bridges, and manufae-
turing, which shng the state ia every dir
ecioh; they may be permitted to exist by
suherance, but they have no legal rightves..
ing them with any title 10 continue beyond
the pleasure efthe Legislature, and the whole
system can only work at all under general
laws. sa H. liH gs4o f4- aud
Mr.. Speaker, my third great proposition ON
this subject remaiRs;and approach it with
more confidence because the unhallowed
ogressions of power and privilege are yanish-
ing before the lgh, of truth and freedom,
and see the path on which they
shine before me. Even the wings are be-
ginning to feel that some answer to these ar
guments is necessary, and | assure them that
i; is not awaited by them with greater anxiety
than await it, The magnitude of the cri-
sis before US cannot be exaggerated. Sir,
we are fighting the battles of the first state
of al! the new sixteen of commonwealth
whose escu,cbeon should be as bright as that
ofeach Of the old patriot thirteen, when they
gave us a country out of the wild and sormy
waves of civil war. That country came to
us from the proudest line ofancestry in re-
corded annals, and it was their mightiest
work, AS it will ever be to them the noblest
AS proceed with the pregnant
divisions of this discussion, each drawingoR'
to each, and uniting together il were out
of the chaos of previous error end uncortain-
ty; the firm and sure ground Of old dcmo'
cratic foundations, like continent arises
from the sea- Upon the triumph Of the con-
s,itntion we will bring back its despised au.
,hority, because we shall reclaim for it those
true principles of equality, which were ce-
mented together sentence by sentence in
tho declaration of Independence with the
bes, blood ofthe Revolution, and re-enactcd
in Ohio.o.lo qFa s pagil aem iwbi
affirm then, Mr.. Speakef,rin the last
place, that the assumption by the Legislature
Of the power to charter banks, is contraryto
tho letter and fatal to the spiritof The Con-
.las asi agll gn anii 9 1s7 hiaim
In 1902, less than sc, 900 people then in
habiting Ohio, agreed togeiher in convention
to form themselves not into an arlstecracy
with its. equality Of mobiles, and its servitude