Nashville union and American. [volume] (Nashville, Tenn.) 1853-1862, 1859-10-29

4. To extend tbe election Of Office Of Comptroller
and Treasurer TO four years
g. To make these officers and the Seeretarv of The
st tie elective BY the people.
6. To make CLERKS asd Masters in Chancery cleo
tive by the people
T. In the formation of new counties ioaloW old
couutes TO be reduced below 625 square miles.
To make all slaves under so years Of age tax
able.
g. To retain by constitutional provision the now
er to repeal all acts of Incorporation.
No less than nine mportant changes of The con-
stiution are proposed-cbangei is The uassou of the
hour and this passion seems Indifferent whether it
attack an ordinary statute, or the constitution it.
self.
Mr. HARRIS. from the eomnittse on WAYS and
Means retIrned the bill s. 81 and Hon. bill. Mr..
Lockharts, l67; and Mr.. Senter's, IS. recommend
ing their rejection Also, Mr. Williams 1874 re-
comm ending passage Also, SIR Ford's lO6 which
wasiransferrei to the Committee on A grieulure
MEMPHIS AND ST. LOUIS PAckRr COMPANY.
Mr.. JOHNSON, from the minority of the Com
mitlee on Private interpretations to whom was re-
f;rred Mr. Farrelly's bill II. r SGT TO incorporate
tle Memphis and st. h1uis PaokeJ Company. aud
ia puruance of notice given at the time the bill was
retu' ned by the majority of sail committee, sub
milted the fotlowiag report Ia behalf the minority
Tne Undersigned members Of the C 5mmittee on
! l corporsti rs, h v ng under consideration House
| Bill No. 50 to charter the ''blemphI and ST. Lonis
Pa,kel Company" aad being unable 70 agree With
| t majority in their report recommending the pas
81 of the bill beg leave off n the following rea-
SINS for their dissent, and make the following re-
| d Iri of their views:
Fmst-That the policy of granting special and
p,ouisr privIls eyes for private and indqidua advan
&c is not only serious inconvenience tOthe pub
O. since its effect is TO burtheu the stants-b book
wi almost en- less acts of charter, by which tn
/ P ints Of contact between the Legi ature and Ju-
d cfal Departments Of the Government are multi
p ed, but, in the judgment Of the undersigned it
is contrary to the spirit and genius of our free in
itHlons, since government is an institution crgane
lied b7 the people for common protection and COM
mon benefit. deriving all it's just powers from the
consent aud by he REIMBURSEMENT of the governed,
AMI where wisely aud justly conceived is designed
| for the mutual benefit and protec'ien of all
| who come within the pale Of its jurisdiction,
! inprsssng equal burdens end imparting equal
b,uefils alike and it is only when this end is at
r4ined that the objects of good government ae-
complished and whenever there IS 3 departure from
this rule. and the gslAtor becomes ooliVious to
considerations; of pubic good, and directs his aim
10 the securement of privste and indival sdvan-
tlge in which the public are excluded, the go7-
eminent itself ceases to be blessing, and becomes
mere instrument in the hands Of the few; for the
oppression of the many: which evil it the iIten-
| ZION Of the trainers of our State Constitution to
guardagainst, in that clause of article IL, which
says: % The Legislature shall have no power to
suspend any general law for the bgneht Of any par
ticular individual; nor to pass auy laws, for the
benefit Of individuals, inconsistent with the general
| laws OF the land, to pass any law granting to
| any individual or individuals, rights, privileges
| immunities. or exemptions, other than such msy
be by the same law extended to any member Of the
community, who may be able to bring himself
within the provisions Of such laws; Prori4s9 always
that the Legislature shall have pOEer 10 grant such
charters of corporations as they may deem ezpedea
| for the public good
From the foregoing clauses it is clear that any
act of incorporation suspending the general law
of the land fer the benefit of any Individual or in
| diydals not demanded by some high ald enduring
| consideration Of public good, would be contrary 10
the planest Interpretation of the fundamental law;
and as the object of this bill is to suspend gener
al law the question before your committee is as to
whether the act in contemplation does come wi hin
! the prohibitions or is il TO be ranked vita that
class of interpretations which may, in the discre-
ton CT the Legislature, be granted public BEN
eft. II is upon this point that your committee
have disagreed. In the opinion Of the minority, af
ter having carefully examined its provisions. and
duly considered all the facts in our possession tue
bill in question is not of that peculiar merit
authorizing the favorable action Of the Legislature,
as 10 our judgment it does not look psrtieu-
lar pubic benefit but alone to the private interest
| of the corporations 10 which the public safety is
! dsregarded. The proposition is simply TO create a
/
! Que hundred and twenty -fve thousand to two hun
| nred and fifty thousand dollars, varying ct the
! pleasure of the stockholders TO be paid, not
| as is usual in such cases, in money, but in
steamboats,, wharf boats and such other
boating tackle, the several corporstors may
be in possession Of and at a valuation as they
! themselves may FIX; to be known by the nsms and
style OF The memphis and st. Louis Packet Com
psny," with all the powers, privileges, immunities
and exemptions with which it is possible for act of
the Legislature to clOthe them-ostensibly for the
purpose OF encouraging navigation aud increasing the
facilities of commerce. travel aud transportation
but a. the und .rsigned believe with the real object
of ssoeiating csptl and organizing wealth against
individual enterpr 3 Z, to strike down competition
and secure monopoly Of advantages, which we
conceive to be violation of section % of article
of the Constitution of Tennessee, which declares
" That perpetutes and monopoes are contrary 10
the genius of free States and shall be allowed"
and the effect of VIII ch would be g virtual infringe
ment of that clause of the Constitution of Tennes
see, which declares THAT an equal participation of
the free navigation of the Mississippi is one of the
inherent rights of the cizsns of this State; it can
not therefore be conceded to any prince potentate
power, person or persons whatever"
And that you may further the better understand
the light in which the minority of your committee
view this. subject, they refer you TO the clear and
lucid exposition Of Chancellor Kest in his commen-
taries upon this subject Of corporations as express
siVe of the opinion entertained by them from which
take the following: 1.-The multiplication of cor
poratons andthe svidty with which they are sought
have arisen in consequence Of the power whiGh a
large and consolidated capital gives them over bust
ness of every kind end the facility which The ipcor-
poration gives TO the management of that capital
and the security which it affords to the persons Of
the members and to their property not vested in the
corporate stock" (Kent's Co nm, vol 2 page 800
We would also refer you TO to the decision il the
ease of the State vs.. D. P. Armstrong ct al, in Cd
Sneed's Tennessee Reports, page 649, which reads
follows; "The multiplication Of corporations of
various kinds in several of the American States has
long been regarded a serious evil by many of our
most enlightened statesmen and juriss. 1t has been
attempted in some of the States check their in
crease by cons utional restrictions. Such the
purpose Of the provision in amended copstitu-
tiOu, limiting the creation Of corporations to such
might be deemed ''expedient for the public good" /
The rage for corporations is not easily to be checked
The immense power which large c0nsolida ted CAPT
tai insures business of every KIND and still MORE
perhaps the IMMUNITY secured by Incorporation to |
tae persons and property of the members, from la-
bity for the debts Of The corporation, beyond the
amount vesed in the capital stock naturally enough
accounts for the extreme eagerness with Which they
are sought, aud too often granted at the sacrifice OF
Inc public good" And still further on in thu same
decision page 655, The following foroibe language
in relation the prohibtOry clause first alluded 10
By US, is found: "But cOnstrue the Provso TO be
an infringement of the power of Incorporation The
power is conceded but the purpose for which it may
be exercised is alsO declared, namely, for the pub
lie good The Legislature may not grant charters
dd t6itu, for any and every purpose, hut only such
charters as may be expedent for the public good
The power is not general 1t is qualified AID re-
strioted by the specification Of the purpose for
which it may be exercised" IT, then, the power is
not general but RESTRICTED, as shown BY the decis
ions of the Supreme Court Of Tennessee, in coBfr-
nation of the opinion already advanced in this re-
port, then nothing can be palmer than that this
bill should be rejected by the Legislature, unless,
indeed, il can be brought within the specifications
If the provso and this the undersigned feel sssur-
ed cannot be the case, ss thQ effect of such char
ters will be detrimental to the public interest, by
sncunberi1g the navigation Of the Mississippi with
chartered privileges and vested rights, when At
should be left free and unfeltered az the ever
moving current Of its mighty waters, We there
fore recommend to your honorable body the rejec-
lion of the bill. All Of WHICH is respectfully sub
nitted, RoHT. JoHE on.
THos. J, KgSSEDY,
W. w. GVY,
W 2 DoAK,
J. I. FORD.
Mr.. FARRELLY movedlthat 500 copies be print
ID for the use OF the House.
The motion was rejected upon a division of the
House.