Mr. WADE. I voted in committee for this incorporation, and for several others like it. Some of them, I believe, have passed. I have not been able to see the importance of the arguments that have been made against this bill A corporation is, in law, an artificial person for any purpose that may be described in the charter of incorporation. The States are in the habit everywhere of granting acts of incorporation for certain prescribed modes of business, and when the parties are incor oruted they do business all over the Union. hey can do, unless the law prohibits it, just what a natural person may do lawfully, and nothing more. he object of the incorporation is barely for the purpose of perpetual succession. When a great business is. contemplated that requires more ca ital than or dinarily belongs to one individua, and agreat many, in order to carry it on, have to concen trate their means together, it is convenient for them to have a charter of incorporation, be cause, without it, when any member of the company dies, the whole company is dissolved, and it passesinto the hands of administrators. Thercfidre these acts of incorporation do nothing more than to enable them to continue their business, notwithstanding the death of some of the parties. As to the objection of their doing business outside of the authority that grants the incor poration, almost all your important corporations do that. Wh, sir, look at your insurance companies O Hartford, Connecticut. They are doing business all over the U.S. to the amount of millions, and I do not know but of 100s of millions, everywhere. Look at your companies for transportation, all over the country, everywhere. our banking institutions do husiuessin every State, allover the Union, without any objection whatever. In short, they can do just what a naturalperson may lawfully do, and they cannot do any thingmore. All the advantage the company has it being incorporated is, as I said before, that they maydo business wherevertheyplease, and on the death of some of the members, their company is not entirely dissolved. A great business cannot be carried on without it, and as they get no additional advantage in a State over a natural person prosecuting the same business, I do not know why it should not be granted if it is a lawful business. The States, ofcourse, may put them under such restrictions as they please, and some of the States perhaps have prevented foreign corporations transactin business within their limits, or have modified the terms of their charter and prescribed under what circumstances and limitations they may do business. But in the ab sence of any such thing a corporation may do all lawful business that a natural person can do. They cannot do anything more. It strikes me there is really but little in this objection that if we incor orate them here they will do business somewhere else. I expect they will; but if they do a lawful business, beneficial to themselves and the community, such as minin or manufacturing, I do not see how anybo y is to be injured by it. If any State objects to it, they may fence them out, proba bly; but they do not see fit to pass acts of prohibition against these corporations generally, and therefore I think they have been ben eficial, and I see no kind of objection to it.