Iowa capitol reporter. [volume] (Iowa City, Iowa) 1841-1855, 1851-01-15

The following anonymous communication came
to us through the post oiiice and the writer ap
pears to be greatly befogged in relation to re-
marks last week, will correct him through the
publication Of his communication and word Of ex-
planation.
MEssRs. REPORTER: Being friend to the Cause
Of Democracy aud after having read yo0r marks
on the subject Or ssindiyidual liability wish TO
present to your consideration the following emarks
or certain distinguished persons which you will
find by quoting the Congressional Globe. Lewis
Cass says: shahi in favor Of the principle of indi
viaual responsibility Of stockholders in corpora
tions, and believe dear bought convection has
satisfied the American people that those who reap
the advantage should the risk, believe that il
a body Of men require the machinery of corpora
ton to carry their business, they ought to incur
the same liability that they would in carrying on
their own private concerns. That is my convc-
tioo." In order to present plainly the views of
Seautor Dorland, Democrat, mast quote All ex-
tract from Senator Badger, (whig.) Senator Badger
says, :st is well known to all that by the agency
of individual enterprise, acting through corpora
tions, every thing has been done which has given
this country ITS great stand in advance OF all Others
Individual enterprises acting through corporations
and acting no otherwise, has cut our canals, built
our railroads, encouraged and supported commerce
from ono end of the union TO the other,'' he then
asks ~what would nave been the present state of
tAr country but for corp0rations?'' To which Sem
the s,nator's question, in terms almost as briefs;
anu 20 ne full as pointed. as those in which he put
u; that not neuer had any such corporations our
country couts hduc been in far better condition than
Now, sirs, have no speculative motive in view,
but only present these extracts and request you
to compare them with the views contained in the
Reporter Of the sth and wish to suggest If 1t would
not be for the stability and long life Of the Demo-
cratic party to advoca. tho same principles as far
as circumstances will anow) Throughout the Enion.
For my own edifcation and others, desire this
published and also your remarks.
am, sirs, subscriber to the Reporter and
also q DEMOCRAT.
Now this writer appears to be lahoring under The
impression that we have opposed individual liability
and is preaching us sermon accordingly. How
any man could have drawn that conclu SION from
remarks Of last week, we are at loss to guess
but for q full explanation of our position we beg
iease 10 refer him 10 the article upon the first page
MA DEtocxAT'' will there see that have all along
contended for the very identical doctrine advocated
by Mr.. CAss, to wit: that ssthose who reap the I'D
vantage should run the risk.' But how Is this doc
trine tobe carried out unless the risk il in proper
80 the advantasep LIN other words in proper.
o stockp He win also see that we commended
for ~ xsrx clause in our Iaw which Nj cAss
voted for, viz; that in wesks Of intefnsI 3npf0ve
ment, stockholders should be responsible to the =
mount Of their stock; not in proportion to their
property-the hard earnings Of years, which they
may have accumulated. In all other corporations
We are for applying the principle TO its fullest ex-
tent. 8
We may here be permitted to remark, that when
we psnnei the article upon first page, we were
under the impression that Mr.. RoBINsoN's amend
uent, restricting corporations from creating debts
exceeding the amount of their capital Stock with
lie peual enactment against directors for violating
the same, had been adopted. This was not the case,
and ws;are sorry TO say that most of those demo-
Gratis vino voted for limited liability, voted against
this safeguard so just in itself and SO necessary
We are inclined to think, the refore, that both the
limited and the unlimited liability democrats OF the
House have been induced to 60 farther towards
their respective extremes, than they would have
lone, were y not for the heat Of excitement in de-
bate For this we feel inclined to hold them ssindi-
yidually liabeo only sto the extent Of the sock''
contributed to the discussion; but if we are disap-
pointed IN our present expectation OF seeing this
business compromised and amicaby adjusted, we
shall hold them aindividually responsible" to the
full extent Of their [politca1 property acquired or
hereafter to be acquired.
ga MECHANIC OF LEcLAIRE," was unavoidably
crowded out. His communication win appear next
week.