New-York daily tribune. [volume] (New-York [N.Y.]) 1842-1866, 1852-11-23

almost uniformly assume, the duties on inn
ported fabrics enhance not only their own
prices but that Of their domestic rivals then
the present Democratic Tariff is taking i'm
mense sums from the Farming and Laboring
classes and giving them to those whom the
trainers and upholders of this Tariff habitually
stigmatize as wealthy and favored monopolsts.
Either Protection or Free Trade is the true
doctrine, and in either case the present Tariff
and its advocates stand condemned, since is
| is consistent with neither one or the other.
| We hold that its champions do not believe the
! doctrines they habitually preach, for if they
did they would manifest some show Of consist
ency Herewith. The pretense that genuine
Free Trade with Direct Taxation is the true
policy, but that the public mind is not pre-
pared for its adoption, stamps its authors as
towards and knaves. They virtually proclaim
| themselves ready to acquesce in and perpet-
uate injustice and pernicious policy rather than
brave the risk of losing Office by asserting the
right. How can they expect that the truth
will ever be indicated while those who hold it
are so willing to betray it for pelf and power
| But there are other questions on which the
fundamental principles of the two parties come
into palpable collision; and in regard to which
Democracy surrenders its convictions in or
der TO retain its Offices.
Among them is that concerning the Liability
of Corporators On this question there has
been desultory struggle for years. The De-
mOcracy' generally hold that every man who
/ takes Stock in a Railroad, Factory, Bank, or
other business enterprise ought to be held re-
sponsible in his whole estate for all the debts
that may be contracted by the Company. The
Wings, on the other hand generally consider
it alike just and polite shat stockholders in
such an enterprise should each be responsible
TO the extent of his investment, and no fur
Their They believe it most unwise and unjust,
in case William B. Aston should be induced TO
take few shares in Company which should
fail, TO make him pay all the debts which that
Company may have contracted; they believe
that the natural effect of this principle is to
deprive enterprising and capable poor men of
the necessary cooperation and aid of the
wealthy, and to render failures far more fre-
0uent and disastrous by confding such enter
prises as We have contemplated to the hands
of the reckless and irresponsible. This con-
trOyersy was prosecuted in our State, with al
formations of good and i'll fortune, until 134S,
when thoroughly Wing Legislature passed a
General Manufacturing Law, in accordance
with Wing principles. That law no one has
since attempted to disturb, and several other
States have already adapted theirlegislation to
its principles We believe the good work will
go steadily on until the principle of limited and
proportiOnate liability in corporate enterprises
shall be recognized as just and benefcent
throughout the civilized world.
Akin to this was the Railroad controversy in
New-Hampshire, where Democracy under
took to establish the principle that every
mans land crossed by railroad should be
paid for at his own valuation, however exor-
bitant and rapaciOus. This was stOutly
maintained for several years, until it became
evident that the people would have railroads,
even at the cost of turning their backs on
Democracy the party thereupon gave way,
and has been silent on the subject ever since
So in the West, where Democracy under
took TO dispense with Usury Laws, and to for
bid the creation of Banks, the first experiment
proved a disastrous failure, Gin Wisconsin,
and was speedily abandoned, or Usury would
have eaten up the State. The anti-Bank fu-
rOr had longer run, but has pretty thor
oughly run out. Illinois and Wisconsin, after
interdicting Banks for years, have just legal
lied them by direct popular vote the par
ty' once more abandoning its principles to save
its places.
There are cool, judicious men, who, in view
Of these and many kindred facts, affirm that
the only obstacle to the adoption of thor
Oughly Protective Tariff is the fact that it is
advocated and made a party issue by the
Wings. They would like to see the expert
ment fairly tried of having the Wings stand off
altogether and give our opponents full swing
for two or three years. We are half inclined to
their opinion
FIRST PRINCIPLES.