The daily union. [volume] (Washington [D.C.]) 1845-1857, 1850-12-18

the Jasgs must be allowed either 10 Isi l1en ont o.
kill the that them: II would - unsaie
and improper to let 60 al arge 10 the community NoH
have examined this corporation this silsefy monster
which coils itself up in the bill before ~ have
found the iangs within its jaws We must be psfmstied
to pull ou, these fangs, OF shall Join In pulling 10
death. tAf
Mr. BADGER. My friend from Arkansas has given
me satisfactory Tor bis great horror OF cor
pors,ons lie informs that in his State they eel eut
under the influence Of corporation mania and in
quenee OF that with The aid Of their corporations. they
inflicted ,he greatest evils upon his State. can under
stand perfectly well why the very moment that he sces
corporation he regards il with great nsncvs oathpg
and ahhorence, feels towards the serpent
tribe do not wonder. il the people of Arknnras
under the influence Of mana that they did what was
injurious themselves with what might otherwise have
been benecaliust as we knives and forks which.
In the hands of desperate men and madnen, do great
deal Of harm themselves and others. do not say one
word in behalf OF corporation that sprngs up under the
influence of corporation mania, any than would
OF any oher operation that carried under the in
fnence OF monomania. II makes man fancy every
thing is to be done by the use OF particular principle,
I Now, sir il the people OF Arkansas, having FIRST run
mad upon the subject o corporations have injured them
selves they become II they sake-biiten, to nse
the smile employed by my friend from Arkankas. But
have lived in State where the people sane. We
have always had corporations there have used them.
as we use knives and forks for the lust and legitimate
fallen into any extravagant admiration Of them, never
having fallen down worship them. and never having
looked upon them all supreme but merely considered
them ordinary nsrumentaiies for the accomplish
Of ordinary good, have been able get along
not only without sustaining injury but really deriving
complain at all of my friend, touched, as he seems
have been, with this mania operating in the reverse
drscon yer as nave never been placed = similar c
hands of men, under the direction OF s0und-mnded
senator like my friend from Virginia. who is moi at all
corporation mad beneficial in their influence; and
feel disposition give my against any Limitation
in this corporation which is not to be found ineyery in
stitution of the kind. ia 1870
Al. - II. >st
ment as amended, and i was accordingly read.
Mr.. MASON. The question upon the amendment
amended will be equivalents suppose 70 the question q
agreeing or disagreeng 10 the amendment oil the BILL II
the Senate disagree with the amendment amended they
vii! disagree with che amendment, Of the House.
The PRESIDENT Most certainly. 8~s 8gRf
Mr.. MASON Now. sir. wish 10 say one word.
This District of Columbia, has been suggested by my
friend before me, stands in the legislative body Of the
Dsrct-the Congress of the United Satcs--very much
as does mouse under the receiver OF phjlosopher,
wishing to see how far he experiment upon those 10
whom he is not responsible This has been iore6ly i'm
upon extending the charter Of company 70 insure against
fire in the town Of Georgetown and it is proposed
the people OF the Distrc, Of Columbia BY involving an
individual liability upon each shareholder Now. that
TO be done il s 10 be done for the benefit of those in
sured, for they the only interested in il. But
have before me here petition addressed TO Congress,
signed by l64 OF those who insured BY that
pany asking Congress to orbear and hold of The very
persons for whom this benefit is designed ask that
such benefit be conferred on them and the reason that
they assign s that they have done well foI twenty years
under such charter unaffected by such an amendment
and Il is matter of great importance TO the town o
Georgetown that they should have such corporation for
their business and they satisfied that ii this new
10 reeop eU mise hsss is
great known wealth. and mbodyng, II not the larger
poron the wealthy and responsible portion Of the
Mr.. BADGER. would ask the senator from Virginia
II he knows whether any OF the gentlemen upon that pa
per have democratic instincts. [Laughier]
Mr. subn fnrU nfoH hat c.rnn n<1(th hapn
have but that can only infer from the paper, which
reads thus: llE ~ q 7f'e}H H
Here the honorable senator read the petition which
the Reporter was unable 10 obiain.J
Now, sir, these are the men for whom this benefit is
in,ended and they ask that il be withheld. shall vote
against the amendment as amended. because csnno,
agree with thai provision in any form.
Mr. MANGUM. | am opposed to the amendment as
it came from the House, and am opposed TO Il
amended by vote OF the Senate. ! should have ndi-
Gated this position earlier but for the fact that did
choose 10 ntepose thwart any interest desire
the part Of the senator from Virginia TO make his
marks the chairman OF the Committee for the District
OF Columbia Sir, seems TO me that must Be obvious
every that this idea sprung up and worked itself
the late Bank Of Se United States The losses were 50
enormous, the frauds supposed TO be obvious,
and the odium that il acquired in the public mind gener
ions in generals and upon that point in regard to such
institutions, there great diversity OF opinion among
teigent The failures OF the State banks tie
enormous frauds that have grown out OF these in
stutions that were originated simply for dealing in
money were such 10 render the whole thing odious
But in regard TO great fire. j, TO hat this
whole argument fails to any application for they
neither enhance the injuries that arise the public by
these fires, nor can they dimipish them shall vote
disagree to the amendment amended for these and
other which have already been better
expressed by Others than could do !, myself
Mr.. CASS. One word. Mr.. President; and II is only
this am in favor OF individual responsibility and be.
iieve that dear bought conviction has satisfied the
American people thai those who reap the advantage
should run the risk believe that when body OF
requre the machinery OF corporation 10 carry their
business they should take with the same liability under
which they manage their private business Imersly sug
suggestion OF the honorable senator from Virginia
winch is. that the people OF Georgetown having asked
this form OF a charter should give 10 them: MIR.
President, here Is great principle involved in this mat
ter. Are under any kind OF obligations TO vote Tor
charter con,radicng this principle because we are
asked for IL The principle is greater than any applica
ton As IL has been correctly asked u there y no risk,
where il the njuryi And If here is risk, those who
reap the advantages should run the risk.
Mr. BERRlEN. II the principle stated BY the sen.
a,or from Michigan really applicable To this case
the conclusion which he arrives might Be fairly de-
ucedthat chose who derive the benefits shall be
exclusively liable But is that true IN regard 70 the
poaiors OF FIRE company Are they the per.
sons who are alone derive the benefits OF the corpora
ton and the advantages OF the corporation IL Il no
beneficial thing in a community 10 have company By
which they can be insured against the risks against
secured to individuals in the community without an
sociaton OF capital Is there any in which iDsu
rance against FIRE is effected by individual capal i b