New-York daily tribune. [volume] (New-York [N.Y.]) 1842-1866, 1847-03-08
Srecisi OBSERVATION-DISCLOSURES EncTOaeh-
ments-Isw Reform

ALBANY, Ialch > 1871!
70 deny to the Constitution. or fundamental law.
of any country, an Interpretation obvious and eyi
dent to al men--to evade its provisions for the sake
OF convenience or 10 override and contenn them, is
practice dangerous to liberty and property, and
may eventu ally become a cause OF convulsion and
permanent injury TO that country OF what use is
a Convention and the appreciation Of the people,
awarded to the safeguards it may have provided,
for life, estate. ndlcommon rights, if the next Le
gslaturc, or the next to that, may pass laws for.
hidden by the Constitution or eyade its provisions
so openly that any schoolboy may clearly compre.
bend the act OF contempt
Section LIST Of Article sth OF the Supreme Law
OF this State iorbids the formation OF any corpora
ton by q special act where the object can be at
tanned by general law-and the morale OF this
rule is TO prevent any set OF men from enjoying
privileges from which other men, under Ike circum
stances debsrred although the law Of privilege could
have been made general in Us operation.
Many bills for special corporations, and for changing
the powers or increasing the stock OF such corporations
have been forced upon the Legislature this session
in the very teeth at the supreme law. shall, at pre-
sent only trouble your readers with specimen or two
In last Mondays letter gave you the outline Of gen
eral law authorize manufacturing corporations,
the wording Of which made no comment Ii was
ported from the Committee on Trade &c. who are
Messs. MaeF srane, Butrick, UPham Van Valken5urgh
and IAndee- Strange 70 tney IcpDILcu sAME DAT
bill, authorizing the Waterloo Cotton Company to
increase It's Capital Stock and 10 distribute the
among the present subscribers or among oass.
II the Legislature, BY special law. can increase the
capital Of corporation from $50 0O0 10 100000 they
can increase IL TO ten mlons- they can do this and
prescribe who may control the stock and that
number OF additional partners may be added the whole
character Of the corporation be changed and 20
evade the Constitution band Of speculators Will only
have TO enzrsft few millions Of amendment, on any
petty charter they may bay up and thus have an sTsa
sive corporation as eaeetrally az heretofore. How
Messr. MacF srane &C. could have reported the private
BILL on the very day which they had presented pub
nc one 70 effect 20 the object for al passes my.
comprehension The general bill dictates IN eject that
no special act could De passed for such purpose for it
processes show how e can and shall be done ~ gen
eral bill.
By another bill from the Railroad Committee the Al
burn and Syracuse Railroad Corporation to have 4OOO
new shares equal 70 $4,000 and the Dreeors are 10
nave power to sell IL for cash on credit on such
terms they may see ~ or they may borrow sfO1OyJ
and pledge the additional stock and mortgage the Kali
road create sinking fund pay 10000 due the STATE
and 700 thus borrowed IN Improving their
road and paying Interest to stockholders but WHICH ,
10 not stated
and why l. the former case, create aeD corporation
with new stock and stockholders Why not guard all
By the genera Ia and allow companies to De incopo-
rated under H. Including those already In existence
The DRY Deck Bank VI New York has recorded capt
tsl Of $4,000 and is charter is UNLIMITED. Csn the
Legislature allow that bank 81 10000 Of additional
stock new partners, &c. and II not ~ enc case now
and WHY IL another The Bank Of the state q New.
YORK hss million capital, and 10 years 70 run. Can
tie Legislature give II other two millions A. Especial cor
7 poraaong What honest man, who has lore enough 10
spell and groroEHos phhisc, would say so' Ara nol,
then. Avs Ike tnis, Il passed, deception on many
stockholders and likely to 70 their injury, or 70 In
duce them 70 mix In the rocs elections In order thar
Judges may Re returned who VIII call black white, and
\ buff scarlet
II Yea had Witnessed as have, more than whole
dAs II az occupied % get Legislative delegation 70
march I'D TO Scholars and view IrRxFIXE GATE, you
would be ind gnsnt 1t the means By which our tories
are striving and waste the session, so that
its close they may raise the chorus 81 old Tsnnnsny
OF HAnf A1ce 1S Wigs d0as''
do enter into the question, whether the section
requiring general laws for corporations q right
thocgh admire IL myself-my argument a. that az The
people have set IL political landmark, the Legs
lature may not trsmple or remove IL without the coz
sen, Of the great power which placed i where itis
ROGER SHERMAN.