Nashville union and American. [volume] (Nashville, Tenn.) 1853-1862, 1859-12-13
q vested Rights,'-The Higher law Docs
trina os e.arnoro


Immediately.
oVes1ed RIghts's-The Higher law Doc
trine of Corporations.
Two antagonistic interests in society have mark
ed the history Of the world with their ceaseess con-
hicts, almost from its very beginning. The inordi
nate love of wealth. and the sinful lust for power
as they were the principal of all evil in the
days of our Saviour. they have continued to
the present hour. This ceaseless contest as more
than once remarked by Mr.. BENTON, Is BETWEEN MAN
AND MoNEY-one as the representative ana image of
his God the other the chief agency of the devil,
with which he was even enabled TO purchase the
betrayal Of our Saviour.
The whole history Of the world is the history of a
warfare between Right and Wrong-between Liber-
" and Oppression Capital and Labor
and notwithstanding in this goodly nineteenth cen
tury we vanly imagine ourselves upon the highest
pinnacle of civilization the struggle still goes on
and the rich grow richer and the poor poorer.
The sublime mission of the Democratic party,
however poorly it may have fulfilled that mission,
has been to conduct the warfare upon the part of
the oppressed millions; to beat down tyranny, to
resist the encroachments of the few and to uphold
and carry forward those great principles of
Equality and JUSTICE among the people, which
constituted the spirit of the Revolution and were
laid down as the basis of a new and model govern
ment earth
By the great men WHO aided in forming this model
republic were told that humanity, justice and
sound policy equally require that, of all interests
those of the laboring million shorld always be the
first the most consulted and the most constantly
respected inasmuch their toll, by custom, has
been least rewarded and yet they produce the in
r Tse,
great bone and muscle upon which society rests.
We have been led to these reflections by the war
fare which is now going on in the Legislature be-
tween the people AND THE BANKS. We had hoped
that in the last canvass the issue with the banks was
sufficiently made up settle the question there and
leave the representatives of the people nothing to
do, upon this subject, but to carry out what
ever decision should result from it. In this we
fear we were mistaken AT the ballot box the
potent voice cS the people, having expressed itself
subsidies for the time. Not so with Capital and Cor
pOrations. 1t Is only after the close of the ballot
box that their most efficient labors begin.
in the last canvass the lssue was most distinctly
made up between the two parties upon one question
at least-ibe right Of ie people to retain control
all charters Of Incorporation. That the position of
the Democratic party might he placed beyond all
cavi it distinctly stated in their declaration
principles put forth by their State Convention
That it is essential TO the welfare of the State,
that in all charters of incorporation, granted by the
Legislature the power should be reserved to
change, modify or abolish these private and priv-
legged interpretations. The public good shall demand"
Gov. HARErs the candidate Of this party, went
before the people of the State and discussed it with
ms competitor, from Carter to Shelby. He present
ed the issue boldly and frankly asking the verdict
of the people content TO rise or fall with their de-
cisiOn. Everywhere the organs Of the party upheld
him in the discussion The incidents of that canvass
still fresh in the minds of all of us. He tri-
umphed by a signal majority, and in that triumph
the people of Tennessee MADE their decision of this
vital issue. Should not the representatives of the
people be content to abide this decision! Should
not democratic Representatives more especially,
feel prepared TO record verdict SO in accordance
with the mission of their party and the fundamen-
tai principles which constitute its pride aud boast
Why should they fear to entrust power to the
people? And power what: Over soulless
corporations of doubtful expediency at best, whose
whole history has been usurpation of authority
for the advancement of private interests at the ex
pense of the public good and whose constant tenden
CIV to do wrong it has been admitted. only be
planned upon the hypothesis that corporations in
their aggregate capacity Will frequently commit
acts which. as individuals, they would blush TO JUS
tify.'
Corporations as declared by the bill Of rights,
are in dcrogation Of the rights of the people ard
their creation are expressly prohibited except
for the public good" Can any Justify hinlsslf
in saying that this public unworthy to be trust
ed with legislative control that which can
Oaly be authorized to subservc their interests! Did
Federalism ever teach unfounded or PERM
cious doctrine? Does not the assertion Of such
principle strike at the very root of Rcpublicanism
itsefg Can people be capable Of sclfgovernment,
and yet net capable Of governing and prescribing
the policy Of the corporate bodies created by them
and for their service L it to be said in this en-
Ightened age surrounded by all the lessons of expe
rience and the aids Of precedent, that free people
who have proven competent TO organize society, |
frame their constitutions and make their laws
affecting the rights OF citizens life liberty and
property are unsafe repositories Of power to gov
ern the moneyed corporations in their midst? The |
right of the people to protect their public welfare
IS infinitely above all the chartered rights in the
world. The government itself may be dissolved |
Whenever it becomes destructive of the ends it was
established to promote and shall petty bank ar
rogae to itself uncomfortable independence of the
power that created it? Shall the special acts of
express prohibitions of the Constitution? A doc
trne so monstrous would scarcely be respectable in
aristocratic England. What then, should be thought
of it in free America?
But we have worse than than this before us. In
the commendable desire to harmonize all good men
upon this subject proposition has been submitted
TO the Legislature That banks and the business of
banking in this shall be subject such general
Iq,ss as the Legislature may from time to time
enact" We cannot believe that the British Par
lament would have voted down such a proposition,
and vet IN Tennessee Legislature it meets with
serious opposition unless it br qualified to
entirely destroy its meaning and effect We
gravey told by their action that these moneyed pow
ers these privileged classes must be kept aboU6 the
Dsopls That the same laws which affect the life,
liberty and property of the citizen subject-the ct
zen who upholds and supports the government
the citizen who has a conscience well as law to
govern him-shoud not apply to privileged specula-
tive corporations. That the people may frame all
laws for their own governmcnt-restraining their
liberty affecting their property, or disposing of life
itselfbut that it would be unsafe to so expose the
moneyed power of the State
Such an argument is than federalism. I'm
der false and cusive pleas of public advantages, it
would steal away the liberties of the people. and
establish in our midst dCspotism at war with re-
publican institutions the facilities of the
few To speculate upon the many furnishing in the
language Of a departed statesman the most effect
ual Of all human contrvanccs 70 tertilize the rich
mans field with the swea. Of the poor mans brow
Under such policy how long will it be before these
privileged classes will have Swced their power to I
the huge dimensions OF olgarchy leaving to the
masses nothing but the savish privilege of repining
over the loss Of their liberty aud contemplating the
grandeur of power TruthIully did TIE sage of the
Hermitage warn his countrymen in saving that ,
81 Eternal vigilance is the price Of I.berty!" '
SOUTH CAROLNA-The Charleston Co5ricr of the
llth, says that the committee Federal Relations
in the Legislature OF South Carolina, recommend q
the passage Of resolutions re-armng the position
Of South Carolina, declaring the right to secede O
from the Union, and that the people should make