The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1883-07-23
OUR ASSOCIATION LAWS.


Aside from special charters, the statutes
OF this State contain about 300 pages author
izing and regulating various corporations,
taking in a range of subjects in alphabetical
order, from A to W. including nearly every
conceivable enterprise requiring an associa-
ton of persons or the aggregation of capital,
Under this great variety of subjects with the
broad and general provisions touching many
scheme under the sun can be incorporated
and thus obtain a legal status to begin with,
though the ultimate design may be ques-
tionable one. 1t would seem that the author
ity and seal of great State ought to be with
held in such cases, and thus deprive
the promoters OF disreputable schemes of
the prestige of this valuable in
dorsement. The welfare of legitimate en-
terprises demands this, and so do the inter
ests of the general public Every swindler
who goes through the country filching mon
ey from the people, works an injury to the
honest man who follows him, and throws an
unjust suspicion upon his business. What
is true in this respect with men is also true
of corporations. When a community has
been bitten with some bogus enterprise, cap
ital becomes timid and hesitates to enter
even where there is safety and sure profits.
1t is argued that in all such affairs
each man must take care of himself.
So he must But while the State cannot
and ought not to be expected to exercise an
individual guardianship over its people,
neither should it give color of honor and
legitimacy to methods intended to wrong
them. The stamp or seal of the State ought
to be badge of unquestionable honor in ali
cases. But that it is not so is evident from
the character of certain corporations. Pub
lie plumber ought not to be carried on I'M
der the guise of legal permission. Honest
men pay taxes with great reluctance for the
support of State that in any degree be-
comes party to schemes used to defraud
them.
There seems to be a need of greater care
1t ought to be the duty of some competent
person to make a rigid examination of all ar
ticles of association or incorporation, when
presented for filing and for the certificate
and seal of the State and such as bear the
earmarks of fraudulent purposes upon their
face ought to be rejected. The idea that a
great commonwealth should lend its sanction
to such bare-faced schemes of public robbery
as are afloat IN this and many other States
is preposterous 1t is on par
with the practice of 'snide" med
ical colleges issuing diplomas to men
authorizing them to practice medicine with
out seeing the inside of medical book or
college. The law upon this subject ought to
be so amended that applicants for the States
Endorsement would be obliged to show clean
hands and purpose to engage in none but
honorable, straightforward enterprises. The
people of this State have already been suffi-
GENTLY swindled to warrant the lawmakers
to move in this matter While individuals
ought to keep in mind the maxim of "caveat
emptor," yet the State owes it to the people
to so run the public machinery of the gov
eminent as to afford them protection
wherever it can be done; certainly, the gov
eminent should not aid in robbing them.
The present practice of incorporating any
thing and everything and turning them loose
upon the people should be stopped, and the
lawmakers will be looked to in the future to
have it done.