THE PIONEERS OF AMERICAN INDUSTRY 43 



The Ohio canal commissioners in 1825 reported in favor of 

 state construction rather than grants to corporations, and gave 

 the following reasons for their opinion : 



Our jurisprudence, which borrows its principles and rea- 

 sons from England, has vigorously adopted this doctrine of 

 immortality of corporations, naturalized and established it 

 as law in our free government, and stretched over its dogma 

 the segis of the constitution, so that now whatever is granted 

 to a private corporation by the legislature is holden to be 

 intangible and irrevocable. . . . Nothing can be more inter- 

 esting to the whole community than the great navigable 

 highways through the state from the lakes to the Ohio river 

 on the routes proposed. It does not consist with the dignity, 

 the interest, or the convenience of the state that a private 

 company of citizens or foreigners (as may happen) should 

 have the management and control of them. The evils of such 

 management cannot be fully foreseen, and therefore cannot 

 be fully provided against. . . . Besides, such works should 

 be considered with a view to the greatest possible accommo- 

 dation to our citizens; as a public work, the public conven- 

 ience is the paramount object; and a private company will 

 look only to the best means for increasing their profits. The 

 public convenience will be regarded only as it is subservient 

 to their emolument. We think, therefore, that it would be 

 extremely hazardous and unwise to intrust private companies 

 with making these canals which can be made by the state. 



Such opinions as these indicate the existence of a certain 

 amount of opposition, not only to the corporate control of im- 

 portant works of transportation, but also to corporations them- 

 selves. The popular opposition to the United States bank in 

 Jackson's time was, no doubt, to some extent due to this 

 hostile feeling, although it should be noted that many of the 

 states, which denounced that institution as a monster corpora- 

 tion, did not hesitate to create state banks of several millions 

 capital, and to give them a complete monopoly of the banking 

 business within their territory. These views were, however, 

 far from representing the prevailing attitude of the people. 

 They appear but rarely in the public discussions, are nowhere 

 discussed in detail, and do not appear to have had much 



