The daily exchange. [volume] (Baltimore, Md.) 1858-1861, 1858-03-04
[CoMMUNICATIoN.1
AN AFRICAN IMITATION OF THE "EAST
INDIA COMPANy,


attention to bill No. 400, before the House of Dele
| gates OF which hand you a copy. 1t would per-
haps occupy too much OF your space to publish the
bill at length; but you can vouch for the following
being correct abstract of its contents. The com
ments OF course, are those of the writer only; but
think their justice will scarcely be questioned.
The preamble recites that Thos. j. Bowen hath
been resident in Africa as a Christian Missionary.
and having represented that there on or near the
river Niger, large district of lands comparatively
healthy, &C., hath asked for Act of incorporation
| for company to purchase lands and establish
colonies In Africa, with power to carry trade and
to cooperate with the colonies thus to be establish
ed, and the promotion of Christianity civilization
agriculture, commerce, manufactures and good
government in Africa
Section incorporates, in the usual mode Thomas
D. Bowen, and the subscribers, to the shares of the
stock of the company.
Section declares that the Capital Stock shall
consist of shares of hundred dollars each; and
that when one thousand shares shall have been sub
scribed, and ten per cent thereon paid in, the
stockholders may elect five more directors, whose
mode of election term of service; powers and du-
ties shall be prescribed by the Bylaws of the COM
pany The directors may, from time to time as they
Stock
provided, such Capital Stock shall not exceed one
hundred thousand shares, over and beyond the sums
which it may be deemed expedient to invest in At
rca, In turherance Of their efforts for the promo
ton OF colonization, civilization, Christianity agri
culture, commerce and manufactures in Africa.
Inc Sd section gives to the directors each of whom
Is required only to be citizen of the United States
power to enjoy and exercise in the name and for the
society all the rights powers, privileges and i'm
munlues which it may be necessary and proper for
them to have and exercise, as the Directors of a
company, incorporated and organized for the pur
pose OF purchasing and owning lands in Africa. and
Tor aiding and promoting civilization, commerce
manufactures, good government and Christianity in
Africa ; and also to carry on Commerce from anv
port or ports in the United States or elsewhere to
any port or ports in Africa or elsewhere but they
snail not be authorized to purchase and hold in
TINS State more lands than may be required for the
convenient transaction of their business" nor shall
they nave or exercise the privilege of banking
FROM the above two sections it will be seen that
the company may 60 into operation when one hun
dred thousand dollars are subscribed to its captal
stock and ten thousand dollars of this amount paid
in. When thus started they may increase their
capital to one hundred thousand shares, or ten
mlAlons Of dollars, exclusive Of and in addition to
any unlimited amount of millions which they NAV
be able to raise and expend in Africa, in further
ance OF their magnificent designs And with the
SINGLE exception of banking privileges which they
are not allowed to exercise, it would be difficult to
say what ON the face of the earth the company are
not authorized to do, as few schemes can be named
which might not be plausiby alleged to be legiti-
mately In furtherance of their efforts for the pro-
motion either of colonization, of civilization. of
Christianity, of agriculture, of commerce or of
manufactures in Africa.
But not satisfied with this most comprehensive
grant of power in reference to Africa the Sd section
goes on, so far is concerned to embrace
all the world, and the rest of mankind: for the
company are expressly authorized to carry on COM
merce, to any extent ''from any port or ports in
the United States or elseohere, to any port or ports
In Africa or else,0here." They are it is true anna
rently restricted in the amount of lands they NAV
hold in this State; but as they may purchase and
mold as much as may be required for the conrenient
transaction of their business and the business NAV
be OF the unlimited extent above described this
sriction is evidently nominal than real as the
whole city, or half the State might not be more than
sufficient for the conreaieat transaction of the com
pany'S business.
uiu propose, Messrs. Editors, to trouble yOur
readers with few further comments on this pre-
posterous bill, but this is surely unnecessary as
statement of its provisions alone must be sufficient
to secure its universal condemnation. How any one
could have had the hardhoodto ask for such char
ter or how any member could have allowed himself
to be the medium of introducing for consideration
would be nconceivable had we not before had fatal
examples of the manner in which legislation is
sometimes obtained for the benefit of individuals at
the expense of the public. But the bill in question
does propose to grant such enormous powers that it
seems but an act of duty to bring its provisions be-
fore the public. Never in its palmiest days could
the East India Company claim under their charter
greater power to sport with and hold at their dispo
sal the lives and happiness of millions of human be-
ngs, than the Legislature of Maryland are modestly
asked to grant to the Central African Society,""
The 4th and last section of the bill provides it is
true, that the General Assembly reserves the right
to alter or repeal the charter. Of how much value
this power would be, if the Company had once sue
ceeded in getting into operation, with capital of
several millions at its disposal let all the citizens of
the State who have ever had cause to appeal for
legislative interference with large moneyed corpo
rations, judge for themselves. C.