Nashville union and American. [volume] (Nashville, Tenn.) 1853-1862, 1857-06-27

psr7ison Of Che Legislature or the Courts. We can
give no better idea Of the odious features Of this
law, which Mr.. Hatton aided in passing than to
copy the following extracts from the able opinion Of
our Supreme Court determining its unconsitutiop-
Atty
The multiplication Of corporations Of various
kinds in several of the American States, has long
seen regarded as serious evil by many Of our most
enlightened statesmen and jurists i has been al
tempted in someOf the States check their increase
by constitutional restrictions Such 11as me purpose
of the provision ia our dEsfRded Constitution, tHiitg
The creation Of corporations such might be deemed
erpedisat for ne public good" The rage for corpo-
rations is not easily to be checked The immense
power which large consolidated capital insures
onr business of every kind and still more perhaps,
The impunity secured by incorporation, to the per-
sons and properly of the members, from liability for
tbe debts of the corporation, beyond the amount
vested in the capital stock naturally enough ao-
counts for the extreme eagerness with which they
are sought and too often granted at the sacrifice Of
the public good.
Tie attempt 10 facilitate their multiplication By Gae act
u7lder consideration, IS ALARMING TO EVERY ENLIcH-
TENED MIND. local tribunal is constituted in each
county Of the State with full power create corpo-
rations Of every sort, municipal public or private,
ecclesiastical or lay, civil or eleemosynary, and for
every possible purpose within the scope Of the Con-
stitution and general laws"
remarkable feature Of the act is, that the per-
sons seeking TO be incorporated, are at liberty to
claim and prescribe for themselves, matter Of
right, whatever rights powers and privileges they
may choose to exercise. However unWise in them
selves, or contrary to public policy or mischieyous
in their tendency, the provisions Of their own char
ter may be regarded yet, if they be not positively
repupnant 10 the act. or 10 the Constitution and
general laws the court cannot refuse to grant the
charter"
Each corporation is a petty sovereign, within
its own sphere. Each corporation Thus created may
increase or diminish its capital-may change ITS
chartered rights, may extend It's operations TO any
other kind of business may traffic in lands or goods,
may transfer ;ts stock in such manner as 1t may
choose 10 adopt and all this IL may do Of its own
mere pleasure. And the corporate body so consu-
tinted is wholly irresponsible 10 the public or TO m
dividuals with whom 1t may have dealings, no secu
ritv or indemnity being required by the act. It's
bSrfe Is perpetual and irrevocable. II IS subject
to no supervision or control, and all laws conraven
inc the provisions Of this act under which 1t Is in
corporated, are repealed
Mo Constitution Of this State declares that ''The
Legislature shall have no power to suspend any
General law for the benefit Of any particular lndl-
Tidua nor to pass any law for the benefit Of indi-
viduaIs Inconsistent with the general laws Of the
land nor to pass any law granting to any indlYldu-
Al or individuals rights, privileges, lmmuntles or
exemptions other than such as may be- by the same
law, extended to any member Of the community,
who may be able to bring himself within the pro
visions Of such law; Provided always, the Leglsla-
ture shall have power to grant such charter OF IN
corporation they may deem eTpedlsat for the P"0e
good =
If the Legislature might do what has been at
tempted by this act under consideration, that sys-
TEN of checks and balances introduced into our
forms of government, both State and Federal, and
founded on the distribution Of powers between the
several departments On which the safety Of our free
institutions has ever been found mainly to depend
/ might soon be destroyed
@There is such an apparent incongruity and IN
fitness in the scheme Of erecting some seventy odd
local tribunals each clothed with the power to grant
charters of Incorporation, to all persons, and for
| all purposes and to forbid any amplitude Of con-
srueti0n for the purpose Of sustaining the act IN
| question"
Such was the opinion Of the Supreme Court rela-
tive to the craftsmanship that conceived and carried
through this novel and remarkable piece Of legisla
ton. Taken in connection with Mr.. Hattons course
throughout the session in favOring corporations in
every conceivable manner, to the detriment Of the
general interests of the public, it clearly convicts
him, to say the least, of being most unsOund and
unsafe legislator wholly disqualified for the respon-
sible position for which he has been nominated by
his friends.
It is only by scrutinizing the record Of public
men that their peculiar notions Of gov eminent can
be aseertained and their fitness or untness proper
" determined. Mr. Hatton's career has been brief
one, but as inglOrious as it is brief.