New-York daily tribune. [volume] (New-York [N.Y.]) 1842-1866, 1851-11-13

Parties and terlsless
No point is more frequently or earnestly
insisted on in the speeches and editorials
of the self-styled Democracy than this,
that the Country is habitually governed and
controverted questions ultimately decided
in accordance with their principles. We
propose here to state some facts bearing
on these assumptions.
One of the last acts of party Democracy
before the close in 1887 Of its longest lease
of power in this State was the legal prohi-
bition of Small Bank Notes. Beaten in
1887, it yet retained control of the Sen
ate, and in that body fastened on the Wing
bill repeating the Small Note interdict
provision that it should be in force for two
years only, after which the prohibition
should be in force interminably. But after
catching one more wholesome tbgglng IN
'3s, member of the party opened the en-
suing Legislative Session with a proposal
for the entire and unconditional repeal OF
the Small Note restriction, which was I'M
mediately and unanimously passed-and
that was the last ever heard of that sample
of Democracy.
For . series Of years jealousy OF, and
hostility to, Corporations, as such, was
vital element of the current Democratic
faith, and the Individual Liability of each
stakeholder in any Mining, Manufacturing,
Railroad or Canal Company for the full
amount of the debts of said Company, was
almost universally insisted on by its deba-
tiers and journals. The 'Oriskany clause,
and many other notifications of the fanda-
mental principle, were from time to time de-
vised, but all these went against the grain
of the Party and were barely and ungra-
ciously acceded to. Our new Constitution
imposed on the Legislature Of is47-S the
duty of defining by law the liability of Cor
porators. To that Legislature q majority
of Wings was chosen, and by it General
Manufacturing Law was framed, based on
the principle of Limited and Proporticnate
Liability, as was to be expected. Party
Democracy denounced and stormed, and
threatened repeal Of this law, or its modi-
fcation in accordance with its own creed /;
yet from that day to this, although one Lee
gslature was equally divided in politics, no
one has seriously proposed a substitution of
Unlimited for Limited Liability
So in New Hampshire, where, but few
years since the rampant Democracy plant
ed itself on the principle that the State had
no right TO authorize Company to run a
Railroad through citizens lands on pay
ing him a valuation therefor-that each
Company must buy its track of every land
holder whose territory it wished to cross,
and pay therefor whatever he might see fit
10 exact For one or two elections this
ground was maintained, until it became evil
dent that, such was the general anxiety for
Railroads, and such the hcpelessness of
striving fer Them under this rule-uhe party
must make its choice, either to surrender
its principle or its power. When that
choice is proflered, it never hesitates, and
il did not now. Democracy, even in
New Hampshire, did not feel stout enough
to butt heads with the Locomotive, SO it
quietly backed off the track, and has stood
carefully out of the way ever since
Just so in the West. where hostility 70
Banks is the form taken by the party s
natural instinct of radical opposition to all
the means and agencies of Industrial Pro-
gress. Under the impulse Of the teachings
which were current in the decadence of
Jacksonism, Illinois banished Banks from
her SOIL while Wisconsin. among other
States, forbade their establishment. And
now We see Illinois voting Bank by whole
Counties on direct popular issue Of Bank
or no Bark while Wi.corSia ovcrturr> her
I-.-.sh.a p.u..cGs0. s..e. -~--, -