The miners' express. (Dubuque, Iowa) 1849-1854, 1850-11-13
For the Express.
Corporations,

MIR. EDITnR.-Sincc my last communication
for your paper another political contest has
been determined in this State in favor of De-
mocratc principles. Equal rights and privi-
leges to rich and poor, and exclusive privileges
to none is living feature Of the Democratic
creed. Relying, as every honest Democrat
does and always will, on the merits of our prn-
ciplcs for success, it seems to me that now is a
proper time to review those principles and see
whether they will stand the always efficient
and never wrong" test Of the "sobcr second
thought hold it to be not only the privieg
but the duty OF every man, who processes love
for our common country and its sacred Insttu-
tons to review his political creed and the mea-
sures advocated by his party, and compare them
with those of the opposite party. Ii he is right
let him stick to his creed if the other party
is right let him pass over Jordan to his brethren
IN the faith, and If both are wrong let hin,
search tor political truth, but always be sure
never to abandon those principles which he has
long cherished till he can exchange those prin.
ciples for better. Never strike a lick backwards
Let every change be reform.
| During the late political canvass in this part
of the State, the federal candidates had mnch
to say in favor Of Corporations Our Consti.
tuition and the delegates who framed it, got
many hard thrust, because all Joint stock Cor.
porations for enterprise and speculation were
compelled to stand an equal footing, and
| come into existence under general principles
and regulations by a standing law of judicious
provisions, rather than BY special act of the
| Legislature for each CORPORATION, with such
special and exclusive privileges as the Legisla-
ture could be induced to grant them over part
| ncrs in trade, and over the common people
| And for prohibiting banks from running riot
through the State, they brcathcd out anathamas
as loud and strong as Saul did against the
| christians when he started to Damascus Their
doctrines were repudiatcd by the people, |
propose now to enquire a little into the nature
and influence of Corporations, and see whether
this decision is correct do this now because
it is we'll understood that there will, during the
next session Of the Legislature, be an effort
made to pass such a general law the subject
of Corporations as will give them the exclusive
privilege of taking private property Of individ-
uals Tor the use OF Corporations without the con-
sent of the owner, and the further privilege of
dividing the profits Of a successful speculation
among the shareholders, and rrpudiating the
debts of bad speculation
AS to the ori gin of CORPORATIONS it is suflici-
cnt to say that they have existed more than two
thousand years, and though their dirrc: ten
dency is to divide and curtal the power of des-
pots and kings, yet they were, by the Greclans
and Romans, and ever since have hecrl, con
sldcrcd dangerous to the freedom and soycr
eighty Of the people.
The object Of special acts of incorporation is
to give certain classes Of men the exclusive
privilege of doing some things, which, as indi-
vduas, or co-partners they could not legally
do; and of retaining from doing certain things
which by all principles of law, equity and mo-
raj honesty, as partners and individuals they are
bound to do.
ms granting exclusive privileges to classes
OF individuals is an Infringement upon the sover-
elgnty Of the people and tends to establish an
arstocracy and legal nobility There is SOW
erign power to every government In despotic
governments it rests in one man in aristocra-
tic governments, with the Legislative body and
the nobility But in 4 DEMnonArIC govern
rests upon the 7rhole Of the peoplc as bodu ;
each and every member Of the nation possesses
an integral share of the sovereign power
Whatever, therefore, extends the privileges of
one man lntrlngrs upon the sovereign rights of
another. Whatever infringcs upon the rights
OF one man, or extends the powers and priv
lcgos of classes Of men beyond their natural
rights, intrngcs upon the sovereign power, and
IS radically wrong. It is sclt:cvidcnt fact, that
Just so much power as the sovereign grants to
| another, just much the less he has himself,
grant away his power by Titles and Titles, till
the major part of it is gone, and if these lttics
can be united, though granted to different classes
OF men, they will form the balance of power.
lh's IS the case with Corporations. Whatever
| exclusive privilege is granted to them is taken
from the sovereign. If that sovereign is Il King
every exclusive privilege granted to the people
or to certain classes Of the people, till all these
united will possess more power than the King
hlmsclf or it may be parted out to all the pco
pie, till each one Will possess an equal share OF
power with the King himself This will des-
troy his sovereignty and the rholc people be-
come sovereign.
Now the very reverse of this may take place.
The rights and privileges Of all the people as a
body may be restricted by Titles, and given into
hands OF one man, until he gets the whole power,
or 1t may be given to classes of people by lit
ties, till the ma or part of the sovereign rights
OF the people are surrendered, in the form of
special grants md exclusive privileges to Ger.
tain classes Of individuals, and if these classes
can unite their power together, they will hold
the balance Of power, and in spite of the pco-
Pile, become, il legal parlance, de jnre and de
tdcto, the sovcrei On power of the nation. 1t is
against this surrendering the sovereign rights OF
the people by special privcges-to this accumu-
latlon OF power by few individuals | stand
opposed. | do not object to Railroads or Man
utacturing establishments, or any other associa-
ton, the nature of which is to give our agricul-
turalIsts better access to the mars Of the world
or to create wealth by mingling labor with the
raw material; provided the individual rights of
the people are not takcE from them, and given
into the hands Of those capitalists, who are de-
slrous of investing their money in this way for
the sake of the liberal dividends they receive.
| am aware that these Corporations arc by some
called "public Corporations but the position
IS untenabc. The diridcnd is the object of
these Corporations, and not the public good
Their object is n DIVIDEND. These capt.
allsts employ their capital in business which ac-
commodities community, for the sole reason
that they reap a greater harrcst in this manner
than by private speculation. Such is the nature
OF all Jolnt-stock corporations with special pri-
vcgcs.
The influence and power of Corporations is
almost beyond the mind of man to conceive
Magma Carta, or present Charter of England
was granted by King John about the year
1877. Soon after this the East Indian Trading
Company was Incorporated, with the exclusive
privilege Of doing all the East India trade for
the nation. This company was comparatively
small when first created, by its exclusive ad
vanlag's 1t soon "waxed great and became
OD1pnt nd ,orf, Al.