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Updated: June 3, 2025
Now, that is a system which cannot possibly satisfy the requirements of a civilized and well-organized society. What we want is a system which will safeguard the consumer, and also provide the worker with a natural, self-compelling inducement to help the industry with which he is connected. That system is provided by co-partnership.
Below are some remarkable passages from his presidential address to the Labor Co-partnership Association. The problem before us is how to organize our industry on lines the fairness of which will be generally admitted.
The immutable nature of the conditions he is placed in, and his savage life, which is a perpetual chase, bring him nearer to the level of the beast he rides. And probably the acquired sagacity of the horse in the long co-partnership of centuries has become hereditary, and of the nature of an instinct.
It must not be supposed that peace will have any healing effect, to restore the parties to their rights; the co-partnership being once dissolved by the war, it was extinguished for ever, except as to matters existing prior to the war. With regard to the effect of war upon partnerships, where the partners are severally subjects of the belligerent powers. According to Mr. Justice Story,
Edgerton was loud in his approbation, and that very week saw his son and myself united in co-partnership, with the prospect of an early withdrawal of the father from business in my favor.
Finally, on the 10th of March, 1871 when I saw on Bulkley's desk a note for a few hundred dollars, drawn to his own order and signed by him with the firm's name, and in response to my inquiry as to the meaning of it, he told me it was a little matter he was putting through by a friend for his own accommodation, I cut the knot and insisted on a dissolution of our co-partnership.
Possessing a competence, which a father's patient industry had accumulated, he had not, hitherto, thought of entering upon any business. Now, however, he began to see the propriety of doing so, and as he had plenty of capital, he proposed to a young man of industrious habits and thorough knowledge of business to enter into a co-partnership with him.
Section 1. Any person who knowingly makes or publishes in any way whatever, or permits to be so made or published, any book, prospectus, notice, report, statement, exhibit or other publication of or concerning the affairs, financial condition or property of any corporation, Joint-stock association, co-partnership or individual, which said book, prospectus, notice, report, statement, exhibit or other publication, shall contain any statement which is false or wilfully exaggerated or which is intended to give or which shall have a tendency to give, a less or greater apparent value to the shares, bonds or property of said corporation, joint-stock association, co-partnership or individual, or any part of said shares, bonds or property, than said shares, bonds or property or any part thereof, shall really and in fact possess, shall be deemed guilty of a felony, and upon conviction thereof shall be imprisoned for not more than ten years or fined not more than ten thousand dollars, or shall suffer both said fine and imprisonment.
I know this well, that if one thousand, if one hundred, if ten men whom I could name if ten honest men only ay, if one HONEST man, in this State of Massachusetts, ceasing to hold slaves, were actually to withdraw from this co-partnership, and be locked up in the county jail therefor, it would be the abolition of slavery in America.
But this man had taken up her words with an apparently serious purpose which had frightened her; and then, as though he had been the recipient of some guilty secret, he had laid aside the respect which had been usual to him, and had assumed a familiarity of co-partnership which had annoyed and perplexed her.
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