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Updated: June 15, 2025
When we have freed our government, when we have restored freedom of enterprise, when we have broken up the partnerships between money and power which now block us at every turn, then we shall see our way to accomplish all the handsome things which platforms promise in vain if they do not start at the point where stand the gates of liberty.
Democratic societies were founded in imitation of Jacobin clubs; everything that was respectable in society was denounced as aristocratic; politeness was looked upon as a sort of lese republicanisme; the common forms of expression in use by the sans culottes were adopted by their American disciples; the title "citizen" became as common in Philadelphia as in Paris; and in the newspapers it was the fashion to announce marriages as partnerships between "Citizen" Brown, Smith, or Jones, and the "citess," who had been wooed to such an association.
Between these two a close intimacy sprang up, one of those partnerships, beginning with mutual deception, which are so common in the border-land of enterprise just skirting the criminal courts. Polkenhorne resided at this time in Kennington; he was married or said that he was to a young lady in the theatrical profession, known to the public as Miss Grace Danver. To Mrs.
"When the Roman matrons became the equal and voluntary companions of their lords," says Gibbon, "a new jurisprudence was introduced, that marriage, like other partnerships, might be dissolved by the abdication of one of the associates."
It was simply chums, owning and sharing everything in common, and without any agreement, written or otherwise. There were many such partnerships involving large sums of money and valuable property which existed only on a complete trust in mates. Among others on the Gilbert and Etheridge, were the mateship of Steel, Hunt and O'Brien.
Interstate commerce is now chiefly conducted by railroads; and the great corporation has supplanted the mass of small partnerships or individuals.
In the middle ages business had been carried on mostly by individuals or by partnerships, the partners being, as a rule, members of the same family. After the expansion of commerce, trading with another country necessitated building forts and equipping fleets for protection against savages, pirates, or other nations.
"He had been a year in business when a partnership was proposed to him by a man of education and gentlemanly appearance. Joseph spoke to me about it, and I said, "'You are doing well enough now. Why not be contented to go alone? I have often heard that partnerships are poor ships to sail in.
'Monthly' cases are these: refusal to pay up a dowry where a party is bound to do so, refusal to pay interest on money borrowed at 12 per cent., or where a man desirous of setting up business in the market has borrowed from another man capital to start with; also cases of slander, cases arising out of friendly loans or partnerships, and cases concerned with slaves, cattle, and the office of trierarch, or with banks.
Individuals die; partnerships are dissolved; but the corporation with its unbroken existence, possesses a continuity and a permanence that are impossible of attainment under the earlier forms of business organization. Liability, under the corporation, is limited by the amount of the investment. The liability of an individual or a partner engaged in business was as great as his ability to pay.
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