Dropped stitches in Tennessee historyAllison, John
History
Dropped stitches in Tennessee history
Allison, John
Jackson, Andrew, 1767-1845 -- Homes and haunts -- Tennessee; Tennessee -- History
Here again, in this second charter of a private corporation for profit,
is given unmistakable evidence that these early legislators believed
in and adhered to that other fundamental principle proclaimed in the
“declaration of rights”--that “all power is inherent in the people, and
all free governments are founded on their authority and instituted for
their peace, safety and happiness; for the advancement of those ends,
they have at all times an unalienable and indefeasible right to alter,
reform or abolish the government in such manner as they may think
proper.” They had probably not learned, so early, that it would ever
be insisted by anyone that the government could bring into existence
a creature greater and more powerful than the creator; but fearing,
no doubt, that such a claim might be set up, they put in the face of
this charter an answer to any such pretence. It had not probably been
intimated, at that early day, that a government which the people, in
the exercise of their inherent power, could alter, reform or abolish
at their pleasure, could nevertheless by its legislature bring into
existence an invisible, intangible, incorporeal entity which the people
could neither control nor destroy, although they have the power to do
both with reference to the creator of such entity; still, they said
in the charter that all power is inherent in the people, and you take
the rights, privileges and franchises granted, subject to their power
to control and regulate your operations, and your dealings with and
relations to the public.
Two other features of this charter deserve to be thoughtfully
considered. The first is that the corporation is made liable, in the
face of its charter, for damages sustained by any person who shall be
detained by the keepers of the turnpikes or the bad condition of the
road. Under the language of the section, the liability is fixed and
absolute, the plaintiff having to prove only two facts in any case: the
fact that he was detained, and the amount of damage sustained--this was
all; he did not have to prove negligence, or carelessness, ordinary
or gross. The other feature is that which required the corporation to
give a bond, with approved security, conditioned for keeping the road
in good repair. The corporation might become insolvent, go into the
hands of a receiver, come out again under a new organization, load up
again with mortgages first, second and third, stock itself again and
issue first and second preferred and common, and then collapse again;
but the bond which this charter required this corporation to give, and
the security thereon, could not be cancelled, or touched by anyone
except one who had sustained damages by reason of being detained by the
keepers of the gates or the road being out of repair. The corporation
might dissolve, become bankrupt, go out of business--but the bond and
security remained.
Public-domain text, read in full here on John Shaqi.
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