The Jefferson quote is authentic.
And yes, it’s referring to the same kind corporations we have now.
He knew about the power of the East India Company, which was reaching the zenith of its power in driving British foreign policy, and he also knew about the great South Sea Bubble crash, which destroyed the British economy.
deja vu all over again…
Great Jefferson quote. Let the Tea Party brew some authentic Americana!
I love it Scottie. Unfortunately many of the shining lights in the New Right have already pooh-poohed what Jefferson, Madison and Adams had to say about their new-fledged democracy, including separation of church and state and the role of corporations in the body public.
Here’s a related contemporary statement made by Dr. Michael P. Byron in 2003: “Thomas Jefferson, along with James Madison worked assiduously to have an 11th Amendment included into our nation’s original Bill of Rights. This proposed Amendment would have prohibited “monopolies in commerce.” The amendment would have made it illegal for corporations to own other corporations, or to give money to politicians, or to otherwise try to influence elections. Corporations would be chartered by the states for the primary purpose of “serving the public good.” Corporations would possess the legal status not of natural persons but rather of “artificial persons.” This means that they would have only those legal attributes which the state saw fit to grant to them. They would NOT; and indeed could NOT possess the same bundle of rights which actual flesh and blood persons enjoy. Under this proposed amendment neither the 14th Amendment of the US Constitution, nor any provision of that document would protect the artificial entities known of as corporations.” (You can find more of what he had to say at: http://soundingcircle.com/newslog2.php/__show_article/_a000195-000205.htm)
Another good one is:
http://www.jayhanson.us/america.htm#_edn7
I’d like to believe the 11th Amendment story above, but I can’t find it anywhere except for progressives quoting Byron. Do you know of neutral, preferably primary sources?
Hi Jen, there has been much written about that era in our history. Under Alexander Hamilton and his Federalists, corporate interests, especially banking–Robert Morris, Thomas Wyling, et al.–flourished. Jefferson and Madison, strict supporters of an agrarian society, vigorously opposed the Federalist platform, which in its initial salvo sparked the Whiskey Rebellion. (wikipedia has a pretty good description of the issues at: http://en.wikipedia.org/wiki/Federalist_Party)
There is also plenty on-line about the 2 proposed amendments that didn’t make it into the Bill of Rights, (The 12 original amendments were proposed by Madison on 8 Jun 1789.) Though I tried to find conservative sites that discussed this issue, the right seems to be very reluctant to talk about this part of our history. Nevertheless here are a few of the sites that discuss this issue:
http://www.thomhartmann.com/unequal-protection/excerpt-jeffersons-dream
http://truth-out.org/opinion/item/377:unequal-protection-jefferson-versus-the-corporate-aristocracy
http://www.voicesonthesquare.com/essays/2012/08/09/what-do-when-liberal-scotus-justices-think-corporations-are-people-too
http://www.dcosts.com/populist/
http://www.zenwealth.com/index.php?option=com_content&view=article&catid=1:latest&id=73:to-restore-democracy-first-abolish-corporate-personhood
http://www.letstalksense.com/articles/jefferson011503.htm
http://www.democraticunderground.com/discuss/duboard.php?az=view_all&address=103×381703
http://www.democraticunderground.com/101636229
And here are a few more salient insights from eminent Americans:
“There is an evil which ought to be guarded against in the indefinite accumulation of property from the capacity of holding it in perpetuity by … corporations. The power of all corporations ought to be limited in this respect. The growing wealth acquired by them never fails to be a source of abuses.”– James Madison
“In this point of the case the question is distinctly presented whether the people of the United States are to govern through representatives chosen by their unbiased suffrages or whether the money and power of a great corporation are to be secretly exerted to influence their judgment and control their decisions.”– Andrew Jackson
“I am more than ever convinced of the dangers to which the free and unbiased exercise of political opinion – the only sure foundation and safeguard of republican government – would be exposed by any further increase of the already overgrown influence of corporate authorities.”– Martin Van Buren
“As a result of the war, corporations have been enthroned and an era of corruption in high places will follow, and the money power of the country will endeavour to prolong its reign by working upon the prejudices of the people until all wealth is aggregated in a few hands and the Republic is destroyed. I feel at this moment more anxiety than ever before, even in the midst of war. God grant that my suspicions may prove groundless.”– Abraham Lincoln
“As we view the achievements of aggregated capital, we discover the existence of trusts, combinations, and monopolies, while the citizen is struggling far in the rear or is trampled to death beneath an iron heel. Corporations, which should be the carefully restrained creatures of the law and the servants of the people, are fast becoming the people’s masters.”– Grover Cleveland
“The first thing to understand is the difference between the natural person and the fictitious person called a corporation. They differ in the purpose for which they are created, in the strength which they possess, and in the restraints under which they act…Man is the handiwork of God and was placed upon earth to carry out a Divine purpose; the corporation is the handiwork of man and created to carry out a money-making policy–There is comparatively little difference in the strength of men; a corporation may be one hundred, one thousand, or even one million times stronger than the average man. Man acts under the restraints of conscience, and is influenced also by a belief in a future life. A corporation has no soul and cares nothing about the hereafter…A corporation has no rights except those given it by law. It can exercise no power except that conferred upon it by the people through legislation, and the people should be as free to withhold as to give, public interest and not private advantage being the end in view.” — Secretary of State and 3-time Presidential candidate William Jennings Bryan
“I again recommend a law prohibiting all corporations from contributing to the campaign expenses of any party.… Let individuals contribute as they desire; but let us prohibit in effective fashion all corporations from making contributions for any political purpose, directly or indirectly.”
— Theodore Roosevelt
“The fortunes amassed through corporate organization are now so large, and vest such power in those that wield them, as to make it a matter of necessity to give to the sovereign – that is, to the Government, which represents the people as a whole – some effective power of supervision over their corporate use. In order to insure a healthy social and industrial life, every big corporation should be held responsible by, and be accountable to, some sovereign strong enough to control its conduct.”
— Theodore Roosevelt
In the councils of government, we must guard against the acquisition of unwarranted influence, whether sought or unsought, by the militaryindustrial complex. The potential for the disastrous rise of misplaced power exists and will persist.
— Dwight D. Eisenhower
Thank you. Most of us, the American voters, know little about finance. (Not much is taught in our public schools!)
I just talked to my nephew, BS in Finance, MBA, liberal democrat. He explained to me that rich people hire more people when their taxes are high because they can deduct hiring expenses. He said the don’t-tax-job-creators argument is nothing but a lie. He also pointed out that the market does better during Democratic administrations. Also that rich people like illegal aliens – cheaper to hire – no taxes have to be paid, no FICA, etc. Also, the workers can’t afford to complain.
Also thanks for the link to the article about LBO’s. I never knew how they worked or why they are so disastrous. My nephew then explained how the buyer can get the bought out company to assume the debt of the purchase – they form a “shell” company so as to roll the bought company into the buying company so that they become one entity. Pretty tricky, no?
So, I challenged my nephew to start a blog to explain to american voters all about finance in simple terms. At least for the benefit of those who still think the rich may give them a break. He probably won’t do it, so, meanwhile, thanks, R-man. Please keep up the good work. Maybe you can reach an undecided or Republican voter.
Well, seems to me if current administration with Executive Orders due to Senate voting it down newest order in draft: The President will add to ability to claim Martial Law but to shut down the internet.