The Kalida venture. [volume] (Kalida, Ohio) 1841-1865, 1847-03-12

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ing AID MA = b.nL,n"s % ,.;,I w', W. D",in, IN.
desc,;n,;ar os !, A.. ~ ,,has. 81 "s
will np, ha an..,;.J ,hs...,:."y :"o'"y
,bis fioor o. slse ,vha,s rs.J, f,on, ~ aP o,,
oc WLo.,o,,s ra.s.,s a..s.' 5ee III 'a0 ,e1 %
tho de6ni,ion &c bsnL;,s as 10 ~. ,Ia,
Hammend l.,e l.,J;n- ,yh;n aJ;,o. - nh;,'
"Bankino i 4, Il. n.,n,a n,;va,s ,rads I.
and a huSs.oss IN wb;ch ;rg;r;dn.l. 80,
at all times ng,oo nplsss ths r.n;.;aaI
law forbids h Whers ~, !, NO, Tie c.rs
litis competent, for ;nd;y;Juais 70 co.,,.c, ~
pether. and create can;tal 10 smrlavsd I,
lending nancy and hnv;n, .nd saii;ng =
bullion. promissorv notes. and Nils af ~ ax'
change. Nc law E poces.ary 10 an,bsr;,s !,
cont,oe, between ind;vidu.Is ~ .oncan,r.
ting capital 10 be inns emnlovsd, mar doe.
the busines. ;t.elc donsn5 49, snos;.I
laws for its creation and existence A. ss
sociaiion thus formed NAV iaEe 10 them.
selves a name. and NAV establish rvles .nd
regulations to govern them IN The ,rapsac,ion
of their business. and 10 de,eym;.a ,ho;r rel.
alive rights and duties AMONG ,hemseIyes
The general law not only recogpizestbo oh.
legation ofthis contract between the parties !.
it recognizes also, the capacity Of tho assooi.
alton thus formed to make contracts in the
name they have assumed, and the right of
the individuals, as Join, partners. or one par
ty, to enforce those contracts. The whole
is private concern; the capital ID private
property; the business private and ;ndiyid-
ual trade; the convenience and profit Of pri.
vate men the end and object. Such is The
true character of bank, constituted by i'm
dividual stockholders. It's riobts and nrivil-
eges, liabilities and disabilities. are are all
the rights, privileges, liabilities. and dis,bil.
tiles OF private persons.n ,a
Banking is then wholly private concern
for making money. "The capital il private
property the business a private and ipd;yid.
ua trade; the convenience and profit of pri.
vate men the end aud ebiectn
The democracy, Mr.. Speaker. have no
opinion of bankers or banking. tbev think
| YnhhlfVs
and that those who pursue /, are destitute Of
even the air of responsibility which belongs
TO that life of licentious adventure. Bu, al.
Inwino only far ,roums.t, .,La that w..
nriyate banking ia sndurshle :, I'll I.s :, 80 =
so,l M we shall perceiva ths, l. nlaced M nnoa - .
ao.t axtraord;nar, f,o,;n.; II nh;o bu ~ III Iaa
;.,a,,re I,d;v;d,,1s he. o;.;oJ Ls..
oh,s;ned snec;,l aotS or;noas.o.a,;on go Ia, h;.
ara moi only snomalnus hn, n.s;,;roIv [ "Jr a.
aarans 70 ires ins,,u,;on. S P Th. synr.r.. srn
sSan,, or he Tinted s,a,as i ~ nar,mo',,S
4 Collese .caso dat;na : eornasn,,a. S - H. :
s;mnle means for The MARI consen;sns .ro,e. 70
cution of business: instead Of which We shall
6nd corporations IN Ohio 10 be an absolute
.Iusurpation upon the the constitution. The
j, Supreme Court say "a corporation is an ar
!. ,i6cial being, Invisible, intangible, and ex-
is,ing only in contemplation Of law. Being
the mere creature ofiaw, il possesses only
those properties which the charter OF its Gre.
ation coniers upon II, either expressly or az
incidental to its existence. These are ssch
as are supposed hes, calculated to effect the
object for which it was created.
They enable corporation te
manage its own affairs, and to hold properly
without the perplexing intricacies, the haz
ardous and endless necessity Of perpetual
eonveyances for the purpose Of transmitting
il from hand 70 hand. Hts chiefy TOR Ms
: purpose Of cloth'ng bodies Of men ,r'th These
qualities and capacities, that corporations
toeIe 'nue"'eu ""o a,e w uSo. 80 :, ig