ABSTRACT
In the second half of the nineteenth century, as the corporation was becoming a dominant force in American life, American writers responded to its torrid growth with praise and trepidation. American consumers were especially wary of corporations that seemed to use "monopoly" power to influence prices. State-issued corporate charters often granted monopoly power and limited liability for a specific amount of time; in return, the corporations were highly regulated. In the United States, even before corporations gained constitutional rights over the course of the nineteenth century, they had distinct advantages over family businesses and partnerships. In colonial America, most businesses were owned and run by families or partnerships that opposed corporations for fear that the corporations monopolized commodity markets. Just as the British monarchy had granted charters to massive trading companies in order to further the colonial ends of the British government, states granted corporate charters to advance government projects.
