Daily Nashville patriot. [volume] (Nashville, Tenn.) 1857-1858, 1857-11-24
Democracy on IncOrpOraIIOns-IndI i'd
ual Liability.

Democracy on IncOrpOraIiOns-IndI i'd
uRI Liability.
1t will be remembered that a few DAYS
ago a bill passed the House to incorporate
Turnpike Company in Wilson county,
containing a clause making the Stockhold-
ers Individually liable for the debts of the
Company. The next day bill came from
the Senate to incorporate Telegraph Com
pany without such clause The House in
serted an amendment to Senate's bill to
that effect. The Houses bill coming up
in the Senate, Mr.. Walker moved to strike
out the individual liability clause, and the
following discussion ensued. We have the
report from the hands of gentleman, who
was present, and it is, doubtless, substanti-
ally correct:
Mr. WALKER moved to strike cut the personal Ii.
ability clause in the last section of the bill. He
was opposed to such restrictions upon such propo-
sitions, and he desired TO test the sense Of the
Senate on that question. The present time as
opportune for that purpose as any period here
after
It vas suggested that 1t was usual to allow all
bills to Pass the first time without objection
Mr.. WALKER thought the Senate might as well
dispose of the question at once He thought this
restriction impolitic and unnecessary. He could
not see why a community of persons, who had Join
ed portion OF their means TO build a neigborhood
turnpike for their own convenience, should be held
responsible ia all time 70 come for whatever liabi-
ties might, under any aud all circumstances arise.
For illustration take . telegraph company whose
stock holders for the benefit OF the community in
general aud the convenience and easement Of the
great commercial intel vsts OF tie country had or
desired TO cons ruct liue Of trlegraphic cOtnmu-
nication from Memphis TO New Orleans. II those
Who had subscribed twenty, fifty or any greater or
lees to be made iudIvidu lily la ole 20 the
extent of bis property, for all lsbes which might
accrue from any cause, would th'y-Wouid not
cry prudent man 50 subscribing raw his
stockl Would there be any such improvements
or public sasementsy
Every sensible knows that il Is necessary
90 incorporate these companies Ia order that le-
gal remedy may be had ia case OF f.ilure on tae
part OF sach corporations 70 fulfill their contracts
Bus they issue no bills OF credit-nO represeGta-
tivrs OF currently. Why then Impose upon them
such string al reguIationsy
He was aware that il vas not parliamentary TO
sneak OF the coulse pursued By ths House OF Rep
rrseHtatVes upOa this or any Other question, aud
be did not desire 20 say anything disrespecuul Of
the actions OF that body. il wus well knosn, how
ever, that an attempt had been made 10 SET doEu
this principle as a tenet o. democratic faith. lie
cid uot rre0guize the right OF any man OF set Of
men 10 make any question test OF democracy
which is nog laid dos cardinal doctrine 10 tue
established platform Of tie democratic party.
Mr.. TRAvIs dbl nOt knoW that politics bad any
thing TO DO WiIh the quesIion-shelher lt vas de-
mocraey, WhiggtTy, or Americanism be cared act
OF ihis no satisfied iet Il he shat Il may, be
vas for the principle, bseaasa De thOughi lstice
and right dem sDded L. he vas opposed 10 sITik-
ing the clause iron the bill.
NJ. Davis d al udment In leo Of the
sect en- providing thai the mechanies' lien shall sp
ply ahese persons h-d peTIormtd work for these
corporations lie vas opposed % the clause as e
stood because be believed Il would work 80 Injury