ON THE 
 
 RIGHTS AND POWERS 
 
 OP • \ ' 
 
 ■ . \ 
 
 \ ' 
 
 CORF ORATIONS. 
 
 A NOTICE 
 
 OF THE 
 
 PAMPHLET BY A CITIZEN OF BOSTON. 
 
 BY HIS FELLOW CITIZEN. 
 
 BOSTON; 
 
 PRINTED FOR THE AUTHOR. 
 1837. 
 
 
 
4 
 
 on this subject, which we cannot get over, under, or round.^' The same 
 thing was said in the British Parliament — “I defy you, Gentlemen, said 
 
 Lord to make a law on this subject, through which I cannot 
 
 drive my coach and four. 
 
 Will any one deny that Bank charters have been obtained in other 
 States than Massachusetts, when the public exigencies did not require 
 them, and that more may be had without any known limit by the same 
 means ? Can it be disputed, that the same power which is able to 
 inflict on the community a new Bank Charter, is also able to give it 
 privileges not consistent with public good, and to prevent such changes 
 and modifications in its charter, as the public good may require? 
 Does not the resistance in this State to the suppression of small Bills, 
 answer this question victoriously? 
 
 Have manufacturing Corporations no influence over legislation, 
 beyond that of the fair votes of the Stock-Holders? Ask any candid, 
 honest man, whether he believes that all the operatives vote according 
 to their own sense of right, or even their own remote interest? Have 
 the Railway and Bridge Corporations never obtained privileges in 
 the Legislature, inconsistent with public good, and sometimes exercised 
 them to the unlawful injury of private rights? Have they not ob- 
 tained, and retained, in spite of all opposition, superior and partial 
 privileges, to the prejudice of each other 1 There are now in Court, 
 several cases of conflicting rights between these great aspirants to 
 public favor. 
 
 Did not Charlestown Bridge Corporation obtain an extension of 
 its charter for forty years, without any just claim on the public be- 
 yond its original grant ? How shall we account for such favors, 
 but by supposing some undue influence by the chartered power? 
 What did Charlestown Bridge Corporation for the public, to entitle it 
 to a prolonged right of raising a heavy tax on travel ? Banks are 
 said to pay for their privileges by the tax of one per centum on their 
 capital ; but the public will learn one of these days this is an Indiaii 
 gift — give one, and take ten. In fact, how can any institution aflbrd 
 to give, unless it take back in some indirect way more than it gave? 
 
 Before I look into the facts stated, and the arguments of the pamphlet 
 before me, I will draw a hasty inference from the remarks above, in 
 anticipation of the conclusion I may come to, after a more mature 
 consideration of our author’s facts and conclusions. 
 
 If a few corporations, interaiding each other, on the Log-rolling 
 system, have obtained charters, which experience shows to be prejudi- 
 cial to the public and private interest, certainly less advantageous to the 
 public than was expected ; if they have in this feeble state been able to 
 frustrate the eflbrts of the Legislature to correct their abuses, what rea- 
 sonable hope remains of correcting by legislation future abuses, when 
 the number and power of these corporations are yearly increasing? 
 
 Would it be an unnatural or a forced position, to anticipate the 
 time, and that not distant, when the whole power of this State will be 
 held and exercised by the stockholders of Corporations ? If they can 
 control the Legislature now, so much as we must acknowledge they 
 
k 
 
 do, must not their power increase with their wealth and numbers? 
 If these conclusions be just, and the anticipations well-founded, we 
 have in prospect a Government very different from that which our 
 forefathers intended to establish ; a Government, not of the majority, 
 but of the minority; not of the people, but of money. The very 
 thing which our wise ancestors so much dreaded, and labored so 
 much to guard against, by what seemed to them sufficient security. 
 This is one of those cases as demonstrable as the simplest problem 
 in mathematics. 
 
 If w’e admit that there has been any undue influence heretofore, by 
 Corporations, in their former weak state, that influence must increase 
 with their numbers. If they have possessed an undue share of the 
 legislative power heretofore, that share of power must also increase 
 until it check itself, or some violent commotion bring it to a violent 
 end. Check itself, it will not ; for it is not in the nature of man or 
 Corporations, to put bounds to their own wealth or power. Thence I 
 conclude that the increase of Corporations, or the augmentation even 
 of the capital and powers of those now extant, will very soon establish 
 a Government of Corporations in the State; although those who thus 
 get possession of the power, will at first prudently content themselves 
 with the substance and leave the shadow ; that is, the forms of leg- 
 islation, as they now exist. 
 
 Can we remain as we now are ? I doubt it. Can we recede; that 
 is, curtail the present corporate power? I doubt that. But what I 
 do not doubt is, that we shall continue in this vicious course, until the 
 Corporate Government becomes so oppressive, that some sudden burst 
 of public indignation will overturn the whole system, to the consterna- 
 tion and ruin of thousands, both innocent and guilty, with the accom- 
 paniment, perhaps, of civil war. Civil w^ar would probably be the 
 consequence, if the same blind infatuation pervaded the Corporations, 
 which their partizans have sometimes exhibited ; and in this case, 
 they would have the Laws on their side; Laws of their own making; 
 and their own expounders and commentators on the Bench, most of 
 whom w'ould have unfortunately a deep pecuniary interest in the 
 issue. But where would be the force to put these laws in execution, 
 or the sanguinary laws which the occasion might call for ? 
 
 Our author has gone far back into the history of corporations ; so 
 far, indeed, as those corporations which the laboring and trading 
 people in the feudal times of Europe, obtained from the barons, their 
 lords, and masters, who were poor in money, and were willing to con- 
 cede much to their vassals, slaves, and semi-slaves to obtain money to 
 defray their expenses going to the wars of the crusaders. These 
 Corporations were monopolies, on a small scale, among men of the 
 same craft, to exclude foreign competition, and thus to keep up prices. 
 
 When Boston was about to be incorporated as a city, there wms an 
 opinion prevalent among some of our mechanics, that their trades 
 would be protected from the competition of similar trades from the 
 neighboring towms ; and many voted for the change, probably, in this 
 expectation. Such corporations exist, at the present time, in various 
 
6 
 
 
 parts of Europe, and do not prevent the wares produced by the corpo- 
 rators 'from being sold at the lowest living price ; or the corporators, 
 who are all workmen, laboring in their own shops or houses, individ- 
 ually for their customers, as they do here, from being miserably poor. 
 
 These corporations I admit, however, contributed much to emanci- 
 pate the wmrkingmen, w'ho were slaves, or semi-slaves to the Barons; 
 for they enabled them to combine their forces. They acquired riches 
 and’power, and used them both to acquire more, as our great corpo- 
 rators are now doing. But the sum total of the riches and power 
 thus acquired, w^as not enough to prevent their being plundered by 
 their chivalrous barons, w^hen they returned from the East, where 
 they had learned the useful arts of Government. Thus these corpo- 
 rations gave liberty to the Covipanions, it is true, but it gave the prin- 
 cipal part of their increased products, the fruit of emancipation, to 
 their Law-making masters. 
 
 Corporations with us, are now found in other hands, and for other 
 purposes ; not for emancipation, or to enrich the laborers, but to en- 
 slave them, and keep them poor ; to deprive them openly and effectu- 
 ally of their civil rights, and make them instrumental in forging 
 chains for their own and their children’s hands, through their con- 
 trolled votes at the polls. 
 
 Our author informs us, that Adam Smith reprobates these Corpo- 
 rations, because 
 
 ‘‘The exclusive privileges of Corporations and all those laws which 
 restrain, in any particular employments, the competition to a smaller 
 number than might otherwise go into them, have a tendency to make 
 the price of articles of labor, in that particular trade, the highest which 
 can possibly be obtained.” 
 
 Our author concludes this quotation, by remarking 
 
 “ That these historical facts show the great change which time has 
 wrought, even in Europe, in the nature and objects of Corporations ; 
 but much greater changes (he says) have been made in them in this 
 country.” 
 
 It does not appear to me that Adam Smith’s objections to little 
 corporations, whose members all work separately and remain poor, is 
 at all inapplicable to large corporations, which are rich, and combined 
 in one powerful mass in our Legislative Halls, where they cause laws 
 to be framed for their own protection, against all foreign competition ; 
 and, sometimes, against a fair share of domestic taxes. The poor 
 corporations against which Adam Smith objects, certainly never had 
 the power to protect themselves against foreign competition, or against 
 the unequal taxes at home. In fine, these little corporations are not 
 to be tolerated, although all their members toil incessantly, but remain 
 poor; because, forsooth, they check a competition wanted to make 
 them poorer ; while large modern corporations are to be encouraged, 
 because their members, forsooth, do not work at all, but grow rich 
 with a little legislative aid. make laws to protect themselves against 
 competition, and want to grow richer. 
 
4 
 
 
 7 
 
 “ In England (says our author) many corporations are monopolies; 
 here, they have only particular powers.” 
 
 I confess that I cannot understand the difference between the monop- 
 oly of things, and the particular special power to produce things. If 
 our corporations have particular powers, which powers are not com- 
 mon to all citizens, they have so far a monopoly of power, which is 
 available for profit, or they would not ask for it. Again ; 
 
 “In England (he informs us) corporations are created for individual 
 benefit; but here, for the common good.” 
 
 If our author can make out this last position, he will have estab- 
 lished his main position, namely ; that all corporations are under the 
 absolute control of the Government, to alter, modify, or annul them ■ 
 for he justly remarks, 
 
 “ That the interest of corporations, as well as individuals, must yield 
 to the common good, when they stand in its way.” 
 
 But the question will always recur; What is the Government, and 
 who controls it ? If the elections were as free and unbiassed as our 
 ancestors here and in England have often attempted to make them, 
 there might be some hope of seeing created or retained, no corpora- 
 tions or other institutions, but such as were really beneficial to the 
 public. 
 
 “ In Europe, (the pamphlet says,) to grant exclusive privileges to 
 favored individuals, to allow, and encourage the accumulation of prop- 
 erty in large masses, by means of primogeniture laws, and hereditary 
 entails, owned, and controlled by the elder branches of families, is ac- 
 cording to the genius of their institutions. By these means, most of 
 the works which a civilized condition demands, and, which can only 
 be effected by a concentrated money power, can thus be carried on in 
 Europe by individual wealth.” 
 
 Our author continues ; 
 
 “Here, the reverse is the case; our ancestors came here poor; the 
 fundamental principles of their institutions, were to elevate the char- 
 acter, and improve the condition of the whole mass, by diffusing among 
 all the citizens an equality of wealth, as well as of political rights and 
 privileges. The laws of primogeniture and entail, were not recog- 
 nized; monopolies, except for new inventions that were profitable to 
 the country, and those for a short time, were forbidden by a colonial 
 law, as early as 1611. Our ancestors, however, were fully aware of 
 the value and importance of associated and concentrated wealth, in 
 carrying forward great works, which an advanced and improved civil- 
 ization demands. They gave charters of incorporation, but they gave 
 them neither as monopolies nor perpetuities.” 
 
 Our author goes on to state, that these corporations were for the 
 public good, and never beyond the reach of legislative action; and, 
 
considering the minute division of property among the mass of citi- 
 zens, that they are jjecnliarly adapted to benefit persons of small 
 means and limited knowlege of business, who, by a concentration of 
 their wealth, and a union of councils, can come into fair and safe com- 
 petition with the skilful and the wealthy. By way of illustrating the 
 advantage of corporations to men of small means, he brings to view 
 the Corporation for constructing a Breakwater at Sandy Bay ; which, 
 he tells us, 
 
 “Was the means of raising forty thousand dollars, in labor and mon- 
 ey, and has accomplished that useful work.” 
 
 This is a fair and a favorable sample of associated labors in new 
 countries; and many such were those probably of our ancestors, al- 
 luded to by our author, and called Charters. No one can object to 
 such works being undertaken and accomplished in some given, but 
 short time, with as little of legislation as possible, and none, if it could 
 be done without. 
 
 The making wharves at South Boston, and land at South Cove, are 
 works of pubUc utility ; yet I should be unwilling to see them held, 
 for an indefinite period, as joint stock property ; and as soon as the pub- 
 lic has derived all the advantage it can expect from the enterprize, by 
 its completion, such property should be sold, and come under the 
 general laws in regard to Real Estates. 
 
 But there is a wide difference between such temporary associations, 
 whose end and object are visible and limited, and Manufacturing Cor- 
 porations with their millions, building Cities, and controlling the 
 political action of their inhabitants ; in fact, disfranchising the country, 
 and bringing tHe whole power of the State into the city, which holds 
 and controls the capital. 
 
 The united labors of our forefathers, alluded to, were the indispensa- 
 ble consequence of their physical weakness. It was the true, legiti- 
 mate, neighborly, and praise-worthy system of hog-rollings still prac- 
 tised in our new settlements. A sloop might be wanting by the Pil- 
 grims at Plymouth, to survey the bay, or to catch fish ; it became then 
 highly expedient that the whole colony of forty-four, should unite and 
 build one. This was labor for the common good. But if three or 
 four of the Pilgrims had, by telling a specious story about public 
 goods obtained rights and privileges exempting their fishing labors 
 from an equal share of the public burthens, compared with agricultural 
 and mechanic labors, or any other advantages, which would make 
 their dollars or their labors more productive of profit than the dollars 
 and labors of the other colonists, then it would have been better the 
 sloop had not been built, and that they should have eaten clams, until 
 some enterprizing individuals should see fit to build a sloop for their 
 own account. 
 
 Our author has high authority for saying that Corporations are ben- 
 eficial to men of small means. Governor Everett, in his first official 
 message, says the same thing in relation to Banks. He said more, 
 indeed ; he said they were injurious to men of capital. This was an 
 
9 
 
 attempt to prove too much ; because we know, that without the aid of 
 men of capital, in and out of the Legislature, and with their superfluous 
 wealth, great works would not be achieved by Corporations, or great 
 Banks be instituted. 
 
 Considering that the pamphlet I have in review is supposed to pro- 
 ceed from a Democratic writer, and is widely circulated among that 
 class of citizens, it is a subject of regret to find the favorite engine of 
 the high federal party taken into favor, and eulogized, even with all 
 the deductions of power, independence of future legislation, and per- 
 petuity, which the federalists claim for Corporations, but which our 
 author denies to them. Grant them the thing in sufficient quantities, 
 and if they do not bring all legislation to coincide with their wildest 
 pretensions, there is no truth in the saying of Hume, who said, — 
 
 “ Where the Constitution allows any share oj power, though small, 
 to an order of men who possess a large share of property, it is easy 
 for them, gradually, to stretch their authority, and bring the balance: 
 of power to coincide with that of property ^ 
 
 Another English writer remarks,— 
 
 “ That it is a principle of human nature, when men possess the pow- 
 er, they will pursue their own interest at the expense of others. The 
 wealthy classes in this country, (England,) by influencing the poor, or 
 dependent electors, possess the real power of making the laws, and im- 
 posing taxes, and, consequently, the richer classes plunder the people.” 
 
 In Europe, as our author justly remarks, the rights of the people are 
 assailed by the privileged by birthright, and the wealthy classes. I will 
 add that the people there are poor and ignorant, and of course are an easy 
 prey to their oppressors. But in America, the people are neither poor 
 or ignorant, yet they are grievously wronged. They have to Contend 
 with the wealthy, (old and new,) who constitute the elite of the op- 
 posing army. This is a permanent undying mass, although its 
 members are shifting daily ; it is a corporation, in fact, ruled by the 
 same tacit principles and by-laws. But this body is not the most nu- 
 merous or the least scrupulous. The expectants of wealth, and hon- 
 ors to be obtained without much labor or much merit, through the 
 law-making power, constitute the main body, and the activity and 
 mobility of the grand army of abuses. They have nothing to lose, 
 and all to hope for; and are ready to do many things in ward meet- 
 ings, in caucuses, at the polls, and afterwards in the Legislatures, 
 which men of wealth and good standing in society, would not do 
 openly themselves. Add to this power that proceeding from the 
 forced control which wealthy corporations have over numerous un- 
 willing victims, remote from their immediate power, and we shall 
 find that the remainder of the people, although perhaps more nume- 
 rous, are too much scattered, divided, and enthralled by the specious 
 arguments of the first talents of the country, which are unfortunately 
 enlisted in this unholy crusade against principles, to resist it. 
 
 Whatever good may have come from the ancient Corpoiations, to 
 
 2 
 
10 
 
 which our author alludes, it appears to me evident, that the increase of 
 Corporations, such as we now have, must infallibly lead to a crisis, 
 not to be wished for by prudent men \vho have something to lose. 
 Safety is not to be found here for wealth, obtained by classes, through 
 unjust means. In old countries, where these systems have thrived, 
 and arrived to such a degree of maturity, as to be now too heavy for 
 the tree that bore them, and are threatening destruction to their pos- 
 sessors, there have been formerly means of safety, which grew, in 
 part out of the very system ; namely, an army of armed paupers, al- 
 ways ready to awe into submission the unarmed laboring paupers. 
 But that source of safety for usurped powers, and wealth, acquired 
 by legal frauds, is wanting in our country. The armed, physical 
 force is yet on the side of popular rights. And if the wrongs already 
 perpetrated have not yet enlightened the industrious and honest part 
 of the community, a little more of the same sort of knowledge, from 
 that same source, icill enlighten and unite them. What one hun- 
 dred Corporations may have failed to accomplish, one thousand may. 
 
 Although thirty Banks in this City, have not yet taught its inhab- 
 itants, their secret and progressive effects, a few more of them may 
 do it. 
 
 The incorporation of Aveavers and spinners, may not yet have alarm- 
 ed the agriculturalists, and mechanics. But when Land Corpora- 
 tions, and a few more mechanic Corporations make their appearance, 
 an alarm will be the consequence, unless printing and speaking be- 
 come also monopolies. 
 
 I have looked in vain over the pamphlet before me, for some check 
 to the indefinite extension of the system of Corporations, which it ad- 
 vocates. But the writer seems not to have considered numbers or 
 objects of any importance, and is inclined to trust too implicitly, to 
 the salutary checks which legislation may devise to prevent abuses. 
 I will repeat again ; If legislation have not yet shown that it possessed 
 the power to correct the most flagrant abuses and infractions of statute 
 laws by Corporations, in their comparatively feeble state, what hope 
 have we of a remedy, when the disorder, will be found, ten-fold in- 
 creased ? 
 
 Let us admit, that which our author wishes to establish ; namely, 
 that Corporations, in ancient feudal times, have rendered good service, 
 by balancing, and then breaking down the tyranny of steel-clad, ig- 
 norant, and titled ruffians. Then indeed did mechanical and com- 
 mercial Corporations, by the force of their combined skill and wealth, 
 break the chains of baronical slavery. It was then, the many against 
 the /cM’, who had usurped unnatural powers. The few were van- 
 quished ; but a compromise took place, something like our amalga- 
 mations, when federalists become suple, after castigation ; and like 
 them, too, did the descendants of the Old Barons, by amalgamation 
 of blood, — marrying the richest heiresses, of the new and rising no- 
 bility, recover their power, and improve their condition. And their 
 new allies taught them easier and safer ways of fleecing the working 
 classes, than by open and violent plunder. 
 
II 
 
 But, how stands the contest now? It is not wealth against pre- 
 scriptive privilege, as in the times alluded to ; it is wealth against la- 
 bor. It is wealth, as a great body Corporate, throughout this Union, 
 striving to arm itself with something like the privileges, which wealth 
 in former times had broken down. When wealth was fighting the 
 battles of the oppressed many, against the tyrannical jew, it was 
 proper enough that it should avail itself of all advantages, and obtain 
 privileges if it could ; and being then possessed of knowledge, too, 
 superior to the Lordly Nobles, who made a boast of their ignorance 
 of Letters, they had this advantage over their oppressors. 
 
 Money has assumed the place of titles. Ou r nobles count not their 
 armorial quartering^, but their dollars^ and those who have the 
 most, have the most nobility, w^hether they come from the lap-stone, 
 or the dung-hill; whether got by wholesale fraud in the Legislature, 
 or by petty fraud in the grog-shop. 
 
 The wealthy are no longer classed among the vulgar people, by 
 a proud aristocracy of birthright, who kicked, plundered, and 
 hanged them as Jewish dogs. The wealthy, at various times since 
 our Revolution, have attempted to obtain a separate and superior 
 representation of wealth, which is, in fact, the first step towards form- 
 ing a distinct class. In the small degrees, in which it has been at- 
 tained, it is a monopoly of power, over the laws, the very worst of 
 monopolies. Who will deny, that there is a contest for power in this 
 country, between two classes ? It will not do to say, that it is not a 
 contest between classes, because some of each class may be found in 
 the opposite class, and that is a mere difference in principle, a polit- 
 ical contest between a few men. That question may be settled by a 
 glance over the composition of the parties ; one consists of rich men, 
 and their sycophants; and the other, of the farmers and mechanics 
 principally. One class is the producer of wealth, and the other, the 
 monopolizer of wealth, by fair means, or foul ; by industry, and 
 economy, or by public and private frauds. The wealthy class, now 
 called the Conservatives; because they wish to perpetuate the abuses 
 through which they have grown, and are still growing rich. This 
 class assumes the rank, and awkwardly apes the manners of the con- 
 servative, and noble classes in Europe ; and is striving for privileges, 
 which give profits without labor ; to degrade the laborer, and elevate 
 the successful intriguer. These new invaders of popular rights 
 think to escape detection, because they cannot yet be designated by a 
 name, or traced to a location, or confined to a determined number of 
 families and cannot entail their wealth on their children. But the 
 oppression of a combination of Corporations, whose members might 
 be the sons of rich men, or of poor men ; men of yesterday, or of to- 
 day; taught, or untaught; mechanical or professional men; I sav 
 the oppression would be the same ; and perhaps more galling than 
 that which afflicts the humble poor of Europe, who are accustomed 
 to a conventional superiority of the gentry and nobility. They, in 
 fact, would be more refined and civil in their oppression — and more 
 graceful. If a war of opinion exist in our country, there must be 
 
12 
 
 two parties to it. Now, who are they ? They are, labor, and capital. 
 The latter contending for privileges and exemptions, through legis- 
 lative Charters, which, they contend, do give to the public a fair 
 equivalent for these favors, and do really benefit the other complain- 
 ing party more than they injure it. 
 
 The former deny these advantages, and contend that they are inju- 
 rious to their interest ; that they throw an unequal share of the bur- 
 thens of state upon them, by indirect means, ^nd increase the inequal- 
 ity in society, which is already too great. 
 
 Here are two parties, as distinct as ever were those of former times ; 
 and the distance between them will increase, yearly, if the system of 
 corporations be continued, f Now, shall legislation lend its aid to accel- 
 erate the catastrophe, Avhich must terminate this unequal and unjust 
 system ? Shall we legislate to make slaves of our fellow-citizens, 
 because history and our author tell us that, legislation and Corpo- 
 .rations, once aided to emancipate the oppressed ancestors of these same 
 fellow-citizens ? 
 
 However little similarity there is between the circumstances of the 
 old and the new world, there are some points of history where they 
 approach. 
 
 “ Until the reign of Servius Tullius, the people of Rome were in 
 possession of the highest power. By the establishment of universal 
 suffrage (all votes being equal) they held in their hand the supreme au- 
 thority, and they may fearlessly challenge their adversaries to show 
 where that authority was abused or misused. Nothing is heard of those 
 fierce contests between the different orders of the state, which were 
 presented afterwards. The people, satisfied with the possession of 
 power, cared not to exert it, except when the welfare of the state re- 
 quired it, and readily concurred in the wishes of those whose rank and 
 wealth gave strength to their recommendations. Under Servius, a new 
 era commenced. He formed the design of transferring the chief au- 
 thority to the nobility and Patricians ; but fearing the resentment of 
 the people, if he openly avowed his object, he artfully held out a bait 
 of considerable allurement to divert their attention from his real ob- 
 ject. Under the specious pretext of diverting the burthen of taxation 
 from the poorer classes to the richer ones, he introduced the Census, 
 whereby the wealth, or rank of each individual, was for the future to 
 be the measure of his political privilege. He then proceeded to a new 
 mode of collecting the votes, which was destructive to majorities, and 
 thus threw the power into the hands of the Patricians.’’ 
 
 Who cannot discover symptoms of the same officious, fostering 
 care, of the good, and too confiding people in this country, by the 
 Tulliuses of America ; less polished, to be sure, but not less cunning. 
 
 Sixteen years ago, they promised, not only to give us cloths and 
 calicoes, not only cheaper than we then paid for them, but cheaper 
 than we could get them any where else ; and that, in a few years. 
 The great master of these promising Tulliuses, Alexander Hamil- 
 ton, laid it down as a fundamental maxim, that small duties alone 
 should be granted by way of protection ; and that they even could 
 not be continued with justice, beyond the time necessary to a fair 
 
13 
 
 experiment. Duties ten times higher than he considered sufficient, 
 have now existed more than sixteen years, and we are threatened 
 with a civil war, if we attempt to relieve the people of this burthen. 
 
 ■ Banks were to make money plenty, for every body ; and our hon- 
 est friends in the country were to be relieved of the state tax, by a tax 
 on Bank Capital, which was wholly paid by the Capitalists of the 
 city, out of their good will to the people; and no advantage to the 
 Capitalists. Our Governor says, to their disadvantage ; and our Au- 
 thor says, that Corporations benefit men of small means. 
 
 We shall learn, *in a few years, whether the relative wealth and 
 importance of the farmers and mechanics, compared with that of 
 professional men, bankers. Corporators and merchants, remain the 
 same. But we may learn it too late. 
 
 Although these remarks have taken a wider range than I expected, 
 I should not dismiss this pamphlet without noticing, more particularly, 
 the hopes, deceptive hopes, it appears to me, of the author, to establish 
 the authority of the Legislature over all Corporations, as effectually as 
 it exists over all other objects of its creation. I have no doubt of the 
 power being in that body; or of the propriety of its constant exer- 
 cise. But I fear that the influence of Corporations is already too 
 great for any successful attempt to control them. The recent at- 
 tempts in the case of the Lowell Railway, and others, before, show 
 that the plainest principles of equal legislation, even between these 
 institutions, with a view to put them on an equal footing with each 
 other, in their depredations on the public, is not within the power of 
 the Legislature, as it is now constituted. Can we hope, then, with 
 these growing elements of Corporate influence and power, to see our 
 Legislature more favorably constituted for a return to sound princi- 
 ples ? 
 
 I am happy to find the following strong sentence in the pamphlet, 
 which should settle the minds of the public on the inexpediency of 
 Corporations, if the fears I have already expressed on their omnipo- 
 tence should be confirmed. 
 
 Our author says, — 
 
 “ If they are to he placed beyond legislative control^ and are to 
 become monopolies^ and perpetuities, they become alarming excres- 
 cences upon the body politick 
 
 Now, let us see if our author himself do not furnish some reason 
 to apprehend a power in certain Corporations out of the reach of leg- 
 islative action, without looking to our late records for corporate opera- 
 tion, and successful resistance, where abundant proofs may be found, 
 of a disposition to deny legislative authority. I will notice one in- 
 stance, however, before I look into the pamphlet. 
 
 It is the prevalent opinion, among the candid of all parties, that the 
 suppression of small bills is very desirable. Several states have 
 acted on this opinion, and derive great benefit from the change. It 
 has been proposed here, also, but in vain. The influence of Banks, 
 
14 
 
 in the Legislature, now deprives us of this much-desired, and benefi- 
 cial change. Would the banks consent to leave this question to a 
 vote in the towns and cities, and abide the issue ? If they would not, 
 (which I doubt) it shows that legislation, whatever may be its con- 
 stitutional powers, has not an effective power over these Corporations. 
 They therefore, are above the legislature, independent of the constitu- 
 tion, being its keepers, and expounders ; they are, in fact, the State, 
 
 Now let us see what are the difficulties of controlling Corporations 
 by legislative action, furnished by our author, and inquire, seriously, 
 what are the chances of returning to correct principles ; which are 
 the only hopes that we can rely on, for our future peace and pros- 
 perity. 
 
 On the subject of Dartmouth College, our author informs us, that 
 the United States Court, under the charge of Judge Marshal, and 
 with only one dissenting voice decided; that this ancient Corpora- 
 tion held its privileges independently of the State of New Hampshire, 
 where it is located, where it had its physical being, (its charter com- 
 ing from England,) where it has received additional aliment from the 
 colony, and the state ; and at most, the adopted child of the state ; 
 necessarily condemned to a perpetual minority ; or destined to become 
 the rival of its mother. 
 
 To use the forcable language of our author : 
 
 “ Thus the authority to regulate some of the most important civil 
 institutions, and particularly that of education, in the higher branches 
 of literature, and the sciences, — the control over those seminaries, where 
 the citizens are educated, who are destined to till what are termed the 
 liberal professions, and as ministers, lawyers, physicians, and men of 
 letters, are to enter every city, town, hamlet, and family in the state, 
 an I directly to influence the condition of society — is wrested from the 
 states, and confided to irresponsible perpetuities, and thus made inde- 
 pendent, within the limits of the state. With such latitudinous, and 
 far-fetched constructions, the federal constitution is, whatever the fed- 
 eral judiciary may please to make it ; and the states are, in fact, in pos- 
 session of little more power than the bailiffs, who officiated in the fed- 
 eral courts.” 
 
 Here then we find a reason for dreading the power of chartered 
 Corporations, somewhat stronger than any that I have suggested be- 
 fore, in the control they now have over our legislatures ; for, after all, 
 the Corporators who would become our masters, would be our fellow 
 citizens. But the power claimed, and exercised over us by the fed- 
 eral court, is a foreign power, which comes within ouf borders, to ex- 
 ercise domiciliary visits, at the call, perhaps, of political traitors, or 
 enemies to our religion, to support them in their nefarious efforts to 
 poison the minds,' and corrupt the morals of the rising generation. 
 All this we must see and suffer, but cannot remedy, because, in the 
 opinion of the court, it would be the violation of a contract. 
 
 It is surprising, that, during the agitation of the states-right ques- 
 tions, a few years ago, the gentlemen of the South did not discover this 
 weak side of state sovereignty. What, in fact, is a small tribute to 
 
15 
 
 the Yankees, in a little extra duty on Negro cloths, when compared 
 with the right claimed, and exercised by the federal court at Wash- 
 ington; to support any institution, eleemosynary, or pecuniary, in the 
 state of South Carolina, or any other state, which may see fit to ab- 
 stract itself, — its moral agency, its political influence, its jurisdiction ; 
 its demoralizing, anti-religious doctrines, its anti-republican doctrines, 
 perhaps, against all state supervision and authority? and this under 
 the plea, of such independent rights having been chartered, and a 
 charter being a contract. 
 
 Some alarm has occasionally been expressed, at the evident dispo- 
 sition among a certain class of politicians, to convert this government 
 from a federative to a consolidated form. And we seem not to be 
 aware, how near they have come to the accomplishment of their de- 
 sign. Their plan of campaign was admirably well projected. The 
 United States Court constituted the grand staff, the chief justice the 
 general; the bar of the states, the cavalry ; the bench, the artillery ; 
 and banks and other Corporations, the line. 
 
 The strategistical movements of this very intellectual and well- 
 appointed army, have entirely escaped the observation of their oppo- 
 nents; wuth the exception of one old soldier, who must have pen- 
 etrated their designs, as we now learn by his counter movements. 
 
 The plan was, by the irresistible agency of the U. S. Bank, when 
 so chartered, to govern domestic and foreign exchange ; control, and 
 finally destroy the state banks, when their aid might be no longer 
 useful ; to multiply Corporations, through bank facilities,* as some of 
 their latest acts evinced, by the favors granted them, to the prejudice 
 of commerce; and thus command the whole capital, and rule the 
 whole trading community. 
 
 When all this should have been accomplished, the central pow- 
 er of this innocent member of our government, the federal court, to 
 which some of us have looked up to, as the palladium of our state 
 rights, and of the federal union would have proved to us, that the 
 states were subordinate to the multiplied institutions of their own cre- 
 ation; and that they were all amenable to this omnipotent tribunal. 
 The seat of government would have been removed to Philadelphia, 
 (this the writer heard hinted at, three winters ago, in that city,) it 
 being important to have the congress under the influence of fashion, 
 and fear, to be found only in a large city. That city, already populous, 
 would have soon become the rival of New York. I will not pre- 
 tend to pry farther into the mysteries of this revolutionary campaign, 
 which would probably, like other campaigns, have been governed, 
 in some degree, by circumstances. 
 
 Most of our civil acts, whether corporate, or individual, have some^ 
 thing of the nature of contracts in them ; and this, alone, is enough to 
 draw all such from the control of state authority to that of the U. S. 
 court. Chief Justice Marshal had doubts, whether even the sacred 
 contract of matrimony may not be made amenable to his court, in de- 
 spite of state authority; and Judge Story has no doubts that such is 
 the power of that court. 
 
16 
 
 Our author concludes his remarks, by exhibiting a picture of con-' 
 flicting powers in the state of New Hampshire, which is well calcu- 
 lated to prove to the enemies of republican governments, the weak- 
 ness, and uncertainty of this, the fairest experiment that has yet been 
 tried. He shows us an existing and powerful Corporation in that 
 state, of paramount influence over its destinies, moral, physical, and 
 religious; exercising its independent functions, according to the ca- 
 price, or private interest, of its trustees, however repugnant they 
 may be to the interest and moral welfare of the state. And all this 
 great sovereign power it derives from the decision of a foreign court, 
 five hundred miles off. Now, I would humbly ask in case of dijffi- 
 culty, to what power would this institution (Dartmouth College) 
 lean ; to the central power in Washington, or the local power in New 
 Hampshire ? Is it not the sworn vassal of the lord paramount in the 
 capital ? is it not bound, in interest and in honor, to do homage to that 
 power, under which it holds its feudal authority ? 
 
 If this position be correct, in regard to this Corporation, that it nat- 
 urally owes allegiance to its liege lord ; must it not follow that every 
 Corporation, which pretends to hold its franchise as a contract, and a 
 vested right, is in the same category of vassalage, as Dartmouth Col- 
 lege. Now, the inference I would draw from these premises is, that 
 we have unwittingly created a new order of things, never contempla- 
 ted by the framers of our constitutions, by the introduction of this 
 new power of corporations combined. They have called on the states, 
 humbly, but treacherously, for arms, and ammunition, for the state ser- 
 vice, and then enlisted in a foreign service. 
 
 T hCorporations will and must cling to the U. S. conrt fof the 
 maintenance of their privileges, be they beneficial to the states, of 
 not ; their sympathies must be there. The principle of Corporations 
 will not be denied ; it is based on privileges and exemptions. Money 
 is the moving power ; but that must move, and act in masses ; other- 
 wise it would be like scattered military forces without a plan of ope- 
 rations. To move and act in masses, with an effective and success- 
 ful design a head is necessary, I am aware ; and that head is yet want- 
 ing. It is a power, strong and permanent to control the money and 
 credit of the country. The conspiracy against the equal rights and 
 liberties of the people is here defective. The hero of two wars, and 
 theHercules, who cleansed the Augea of America from the contamina- 
 tion of a bank, and banished its first groom, retires from his impor- 
 tant and invaluable labors. It remains to be seen whether this same 
 moving hank spirit will not return ; or some other leader of the mon- 
 ey-power, duly authorized, will not force his way into the citadel, by 
 dint of Gold. 
 
 If this ever occur, I humbly ask leave to record here my opin- 
 ion — nay, my prophecy, — that we shall then exhibit to the world a 
 government, such as the world never saw before. What will follow 
 it no man can tell, for history is dumb on this subject, and offers noth-^ 
 ing analogous. But it will not be a government of majorities. 
 
IT 
 
 But very probably would be a goyernment composed of a successioif 
 of individuals brought up amid all the little degrading tricks, prevarica" 
 tions, and artifices, which are the common means of acquiring riches. 
 
 Such a state of society would almost lead even democrats, to wish 
 for a restoration of the laws of entail and primogeniture; for an aris- 
 tocracy by birthright, would at least be free from the little grovelling 
 vices of a class of men without a liberal notion, or an idea beyond 
 dollars and cents, or tare and tret. It would be a government of vul- 
 gar aristocracy, in place of a refined aristocracy. It would have none 
 of the redeeming qualities which individual human sympathies allow 
 of, even in despotic governments ; all the channels of the natural and 
 kind impulses of humanity would be closed to it; for the very essence 
 of its constitution Avould be found the cardinal mriue of Corporations, 
 They, it is well known, are heartless, devoid of sympathies; and, 
 moreover, ought to be so, and have no right or lawful power to be 
 otherwise. 
 
 Chivalry and a nice sense of honor, have often proved to be useful 
 checks to some of the worst passions of man. But how could chivalry 
 and refined honor he expected in bodies where their exercise would 
 be a crime against the constitution of those bodies, and where chivalry 
 and refinement of any sort, would be things unknown to the constitu- 
 ent parts of those bodies ? 
 
 I know of but two durable governments possible for this or any 
 other country ; the one is a Despotism, and the other is the Goveriir 
 ment of the whole people, fairly and honestly represented.. 
 
 3 ^