tion; and while they were impoverishing themselves in these enterprises, their subjects, many of them, were growing rich and powerful. The commercial cities of Italy were among the earliest to avail themselves of this. state of things, and soon found themselves, partly by concession or grant, and partly by actual purchase, in possession of independence for all the purposes of local government. The example was followed elsewhere; in the Low Countries very early, in France, in England, and to some extent in Germany. These towns and cities at first, as I have said, apparently occupied only with trades people and gilds, grouped into private corporations, thus steadily acquiring personal importance and political power, taking something by grant or favor, assuming other rights, and buying of their needy sovereigns still larger privileges, grew at length into republics, the more important and interesting as they were long the only depositories and nurseries of those liberal principles which lie at the foundation of modern liberty. It was here that men first gained exemption from some of the most odious exactions of feudal tyranny. The freeman of the town could dispose of his property by deed or will, which no vassal could do; dying, he might choose his own guardian for his children; he could give his daughter in marriage without purchasing the privilege; he could prosecute his lawsuit without being obliged to resort to the lord's court. The elective and representative principles were in vigorous and successful operation, and the people were trained to an inde pendence and freedom which existed nowhere else. Finally, they gained or assumed the right of bearing arms, and having surrounded their towns with walls,

they prepared themselves to offer warlike resistance to oppression and injustice, come from whatever quarter they might. They went farther in some instances,—as in Holland-and actually confederated for mutual protection and defence, constituting a federal compact, a government, for this single purpose, and placing themselves under federal officers of their own choice.

The jealousy existing between the sovereigns and the great barons, was favorable to the encouragement and growth of freedom in the towns. The former were glad to interpose these towns between themselves and their turbulent and haughty lords; and it was principally the same consideration which induced them to favor the claims of the agricultural portion of their subjects to enfranchisement-claims which, serfs and slaves as they were, attached to, and passing with the soil, might have slumbered long but for the example of exemption and freedom set them by the towns. It was, I think, in the fourteenth century that the enfranchisement of this whole class was accomplished, or at least attempted, in France, by a general order from the sovereign.

I have taken this slight historical view for the purpose of showing the rise and progress of liberty-democratic liberty-in modern times, and for the sake of inferring, as I do, that corporations-private corporations, had originally much to do with it. It has been said, and I believe with truth, that the first express charters to politi cal or municipal corporations, were given in imitation of the licenses to private and commercial companies, and as a consequence of the existence of these latter corporations. And if entitled to any part of the credit of having given birth to the great principle of local adminis

tration under special charters, then we cannot know how much more credit they really deserve, until we have evidence how wide-spread and how invaluable to freedom that principle has become. Look at that principle in its application and practice in our own country. We have a general government which is a corporation with an express written charter from the people. Each state government is also a corporation with a similar charter, and the whole local administration-the great school where democracy is studied, learned and practised—is conducted by means of corporations. Every county, every town, every city and every village, and every school district is a corporation. Our supervisors, our overseers of the poor, and our school commissioners, are all corporations.

But it is not merely the service rendered to liberty by their influence in bringing about the establishment of political corporations, on which I wish to rest the claims of private corporations to general consideration and favor. I think their own individual and direct operation is to advance mankind in wealth, in morals, in refinement, and in freedom-and that on strictly democratic principles. This would seem to be inferrible from the fact that these instititutions have always prevailed most, where we find these principles to have been most fully developed, and most strictly acted upon. They are not I believe in much use, or held in much estimation in Russia, or in Austria. France is only beginning to understand their value, while in England they have been adopted and used extensively, and with great effect and advantage.

It is however in this country alone, that their full im

portance has been seen and felt. With us, the great point is to elevate the mass of men-the people as a body. One important step towards this object, is to secure to every man sacredly, the fruits of his own industry and enterprise. But this is only a beginning. Property tends to accumulation in a few hands; and the policy of other governments has been to preserve and perpetuate it in a few hands. Our policy is a different one; we think it important to distribute and equalize it, as far as may be without interfering with individual right, and the due encouragement of individual exertion. Now for one, I confess I know of no instrumentality more efficient for both objects, than that of our private corporations for business enterprises. In this way the smallest surplus returns of individual industry may be securely and profitably employed. An interest is awakened in subjects and modes of human exertion, of which the mass of men would otherwise have no knowledge; and they come not only to concern themselves with new forms of business, but to participate in the profits which arise from them. They enjoy not only the fruits of their own personal labor, but they share in the returns and advantages which flow from the employment of capital and skill. No one, indeed, can look at the subject-at least it seems so to me--and not perceive how powerful and how favorable must be the influence of these associations on the habits and character of the people. The number and variety of our corporations engaged in the prosecution of private business-for they are still private, however public may be the use of them-are very great. Money and currency are furnished by them; insurance is effected by them; manufacturing and commercial business is

conducted by them; they construct turnpikes and bridges, and rail-roads and canals. If we look at the great works of internal improvement only, in this country, carried forward by means of corporations-works which in other countries less free and democratic, if prosecuted at all, must be either in the hands of wealthy individuals, orbecome the corrupt and corrupting jobs of the government-we cannot fail to be struck with their immense value, as the means by which the most magnificent projects and the most splendid enterprises may be conducted and realized, not only without danger, but with positive advantage to republican habits and republican institutions.

But this is not all. We have other private corporations in almost every department of social life. In this mode it is that Charity and Benevolence make to society and humanity their most costly offerings-establishing and endowing hospitals, asylums and retreats. In this mode it is that Education and Learning are cherished and encouraged with incorporated colleges and academies, institutes, historical, scientific and literary societies, museums, galleries and libraries, all devoted to this great service. And finally, it is in this mode almost exclusively, that the public ceremonies of religious worship are supported and sustained-a mode by which the numerous sects into which the religious public is divided, are enabled, each for itself, without question or molestation, to conduct their own worship according to their own consciences, and all with entire freedom from any corrupting association with government protection or government patronage. Let gentlemen look at all these things, and then say if they deem it possible that civil society could