, 1865-01-30
Ql)icagQ Uribn!1e,
MONDAY. JANUARY 80. 1865.
PERPETUAL co1sPoRArIoNs.

-
ratIons, endowed by law Win peculiar pavi
lcges and rights, and welding the vast power
OF faccumulatcd capital, is one OF the growing
and portcntous evils Of the timcs- So dan
ccrous arc they to individual interests and
personal rights, SO accustomed to carry their
ends, against nll private resistance, and 90
powerful through their my1iad agencies and
great wealth to influence the decision ofcourts
and control The making Of laws, that some OF
the most sagacious men of our day, find In
them great dangers to our free institutions,
and untold mischief and hindrances to tho
working Of true Republican principles. There
aro mammoth corporations in the country
nov, holding such vast wealth and power,
with their countless dependents and en-
1loycca, as 10 I've able not only to force such
legislation as They deem essential to their
own interests, or schemes, but also to deter
mine who shall be chosen to any political
Office, and to control the general political
policy Of the country. l. is not merely sns-
picion nor an imputation, but generally
credited fact, that the New York Central
Railroad can carry the State whenever II sets
10 work In earnest to do 1t, II is often assert
ed and seldom denied, that the Camden and
A.nboy Road, do with the vote, or legislation
Of New jersey, just nbout as they please
There are other roads and other huge co.po-
rations In other States and cities, exercising
the same dominent influence, and debating
both State md municipa, legislation.
Now, making alt allowance for prcjud.cs.
passion and mistake, there can be no man
whose eyes and ears are open to what t:k:s
place about him, right in his own State m
city, who does not know that there is far to
much tuth In the charge and that one
the growing evils Of our political affairs, aud
one Of the most threatening dange.s to the
purity and equal justice Of our legislation, is
10 be found in the enormous powers Of these
giant monopolies. Associated capital bound
together and welded By one will, eau doubt
less accomplish vast results, and secure great
CT advantages, than can ever be within the
reach Of individual, OF isolated enterprise
and that corporations arc entitled to favor
and encouragement under fit Limitation, need
not be denied. But their power ia 50 great,
they arc 80. entirely under the influence Of
sheer selflshucss and interest, money being
their chief end, to which all else must bend !;
and they are from their vast patronage and
many dependents, 20 inimical to personal aud
private rights, and 10 public liberty and JUS
tice, that their action shonld always be
watched with Jealous vigilance, md all their
powers and privileges should be hedged round
with close restrictions. aud careful limitations.
This has far too often been neglected, and
under the excuse that these monopolies were
essential 10 the public, and Of vast genera1
convenience, they havc been allowed special
privileges and franchises which the public
ought never 10 part with.
Ono thing which almost every corporation
seeks, ought very rarely, If ever, to be given
them, and that is a perpetual charter. No
legislature has the right to give away public
1sancliscs and rights forever. The Law ma
kers Of to-day have no just authority to hind
the hands and control the policy Of their
successors. It is a.gross usurpation Of power,
and fraud upon those who come after them.
THIS is \ principle well settled as regards
nearly Ill other leplslatton, and it is extraor-
dinasy that it should be 80 utterly forgot
ten In lccislating for corporations. But,
under the name Of contract, or vested
r.chte, our law makers set to work to dictate
to all atter generations, and compel submis.
sion to injustice however gross, aud humble
acQuiescence in public loss and wrong how
ever fragrant. Other laws are repealab1e at
any time; evcn the most sacred and fnnda-
mental law Of all, the Constitution, is subject
to alteration and amendment at the will Of the
people. It is only corporation charter, that
is 50 high as to be way above the reach Of the
people. And yet there is no one subject d
legislation which It is more necessary shoule
always be within the control md amendmen
of the State, for there Is nothing more effect
cd by the ordinary changes Of every day
tfnn the circumstances which make thes
charters advisable; and such frrevocabl
charters are sure to carry with them grea
and grieyous injury and injustice to til
public.
Let the Legislature pass no charter with
out seeing to it that sure provision is mad
for Its alteration whenever the public goo'
requires II. The members were not sen
there to create great corporations, cloth
them With speeis1 privileges and powers, ami
start them out to Grow fat and insofent b!
prcying on the public forever. However trit
it may seem, 1t Is the duty Of representative
to guard and protect, not fleece the people
and they will be held responsible for Its dis
charge. They have no right to give ava,
public franchises, because rich corporation
are after them. If they do it, they will b
made to smart for It. And we can tell them
that when they are 50 sunk In stupidity, @
so brazcn-faced. In corruption, as to exten
and make perpetual the charter Of corpors
tion, which in the beginning was so libetal 8
to be piece Of folly, and which has made Il
holders suddenly rich, they do an act tbs
e.inks in the nostrils Of honest men.