Charter of the SUM

Nov 22, 1791

WHEREAS it is represented to the Legislature, that a Subscription has been made for the Purpose of introducing and establishing useful Manufactures, to an Amount which already exceeds Two hundred Thousand Dollars, and whereas the State of New Jersey having been deemed by the Contributors the most suitable for carrying the same into Effect, the Aid of the Legislature has been requested, in Promotion of the Views of the said Contributors, and whereas it appears to this Legislature, that the granting such Aid will be conducive to the Public Interest; therefore,

1.     Be it Enacted by the Council and General Assembly of this State, and it is hereby Enacted by the Authority of the same, That all those Persons who have already subscribed, and whom, according to the Terms hereafter mentioned, shall subscribe for the Purpose of establishing a Company for carrying on the Business of Manufactures in the State, their Successors and Assigns, shall be and they are hereby incorporated by the Name of "The Society for establishing useful Manufactures," and by the same Name, they and their Successors and Assigns are hereby constituted a Body Politic and Corporate in Law. . . .

2.     And be it Enacted by the Authority aforesaid, That the original or capital Stock of the Said Society or Company, shall not exceed the Sum of One Million of Dollars, to be employed in manufacturing or making all such Commodities or Articles as shall not be prohibited by Law, and to that End in purchasing such Lands, Tenements, and Hereditaments, and erecting upon such Buildings and digging and establishing such Canals, and doing such other Matters and Things as shall be needed for carrying on a Manufactory or Manufactories of the said Commodities or Articles. . . .

4. AND, the more effectually to encourage so useful and beneficial an Establishment; Be it further Enacted by the Authority aforesaid, That all Lands, Tenements, hereditaments, Goods and Chattels, to the said Society belonging, shall be and they are hereby declared to be free and exempt from all Taxes, Charges, and Impositions whatsoever under the Authority of this State, whether for State or County uses, or for any other Use whatsoever. . . for the term of ten years only. . . .

17. AND WHEREAS it may be necessary, for the beneficial Extension of the aforesaid Plan, to cut Canals, and clear and improve the Channels of Rivers, the

Advantages of which will not be confined to the Members of the said Society, who ought therefore to be authorized to receive a reasonable Toll to defray the Expenses of Improvements ultimately so valuable to the State; Be it Enacted, That it shall be lawful for the Directors of the said Society, their Engineers, Artisans and Labourers, to enter upon and survey all such Land, and Land covered with Water, as shall appear to them most practicable and convenient for effecting navigable Canals, for the Purpose of transporting Goods, Wares and Merchandizes to and from some Manufactory by them established. . . and to contract and agree with the Owners of any Lands and Tenements for the Purchase of so much thereof as shall be necessary for the Purpose of making, digging and perfecting such Canal or Canals. . . .

1.     AND WHEREAS the first Attempts towards the Establishment of Manufactories by said Society may be attended with Loss, so as to impair and diminish the Capital thereof, and the said Society have prayed that this Legislature would authorize them to raise by Lottery certain Sums for their Indemnification against such Losses; in Compliance with the said Request, and for the further Encouragement of the said Establishment, Be it Enacted by the Authority aforesaid, That the said Society be, and they are hereby authorized and empowered by one or more Lotteries, to be drawn within this State, according to such Scheme or Schemes, and upon such Terms, as the Directors of the said Society shall institute, publish and declare, and under the Management of such Persons as the said Directors shall for the Purpose appoint, to raise, for the Benefit of the said Society, Sum or Sums not exceeding the Whole One Hundred Thousand Dollars over and above such Charges and Expenses as shall have been incurred in and about the Management and Drawing of the said Lottery or Lotteries.

2.     AND WHEREAS it is deemed important to the Success of the Undertaking aforesaid that Provision should be made for incorporating, with the Consent of the Inhabitants, such District, not exceeding in Content the Number of Acres contained within Six Miles Square, as may become the principal Seat of the intended Establishment, Be it further Enacted by the Authority aforesaid, That at any Time after the Directors of the said Society shall have made Choice of a suitable Place for the principal Seat of the said Manufactories, and shall have certified the same to the Governor of the State for the Time being, it shall be lawful for the said Directors, by Advertisement in One of more of the Public Gazettes printed in the State, and also by Advertisements affixed in the most public and notorious Place within such District, to give notice that it appears to them conducive to the Interest of the said Society, if agreeable to the said Inhabitants should be and become a Body Politic and Corporate. . . in Deed and Law, by the Name and Title of the "Corporation of the Town of PATERSON". . . .

36. And be it further Enacted by the Authority aforesaid, That all Artificers and Manufacturers within the said District, in the immediate Service of said Society, shall be exempt from all Military Duty, except in cases of actual Invasion, or

imminent Danger. Provided always, That the Clerk of the said Town of Paterson shall keep a Book, in which he shall enter the Names of all Artificers And Manufacturers in the immediate Service of the said Society, at the Direction of the said Court of General Quarter Sessions of the Peace, in and or the said Town, and that no Person shall be exempt from any Taxes whatever, or from Militia Duty, except his Name shall be entered in the said Book aforesaid. . . .

Source: 
Acts of the Seventeenth General Assembly of the State of New Jersey (Trenton, 1792), 730-31, 741.