Looking at it in this
light, the constitution might deserve more thought than can be given to
it now.
There was a preliminary article, written and signed by George Ripley,
President, from which the following extracts are made:--
"At the last session of the Legislature of Massachusetts, our
Association was incorporated under the name which it now assumes, with
the right to hold real estate to the amount of one hundred thousand
dollars. This confers upon us all the usual powers and privileges of
chartered companies. We have introduced several branches of profitable
industry, and established a market for their products; and finally, in
the constitution which follows, we have applied the principles of
social justice to the distribution of profits in such a manner that the
best results are to be expected.
"Nothing is now necessary to the greatest possible measure of success
but capital to furnish sufficient means to enable us to develop every
department to advantage. This capital we can now apply profitably and
without danger of loss. We are well aware that there must be risk in
investing money in an infant association as well as in any other
untried business, but with the labors of nearly four years, we have
arrived at a point where this risk hardly exists.
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