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Formation Quotes - page 8 - Quotesdtb.com
Formation Quotes - page 8
I have been appointed by the Convention of the State of Georgia, to present to this Convention, the ordinance of secession of Georgia, and further, to invite Virginia, through this Convention to join Georgia and the other seceded States in the formation of a Southern Confederacy. This, sir, is the whole extent of my mission. 1 have no power to make promises, none to receive promises; no power to bind at all in any respect. But still, sir, it has seemed to me that a proper respect for this Convention requires that I should with some fulness and particularity, exhibit before the Convention the reasons which have induced Georgia to take that important step of secession, and then to lay before the Convention some facts and considerations in favor of the acceptance of the invitation by Virginia. With your permission then, sit, I will pursue this course.
Henry L. Benning
The practice of creating chartered joint-stock companies of a modern type seems to have begun at the commencement of the seventeenth century; and the formation of the East India Company is one of the earliest, if not the very earliest, examples. At first, it appears, the 'joint stock' of the company was separately made up for each ship; perhaps for each voyage. But, in the year 1612 the Company made the momentous resolve to have one joint stock for the whole of its affairs, and thus inaugurated a new epoch. The East India Company, or Companies, (for there were two of them), were followed by the Hudson's Bay Company (1670), the existence of which was recognized by statute in 1707, and by the Bank of England and the notorious South Sea Company.
Edward Jenks