Alexandria advertiser and commercial intelligencer. [volume] (Alexandria [Va.]) 1800-1803, 1803-03-15
Congrcfs Of the United States
Houss OF REPRESENTATIVES,
February, IS, 1895.
BANKRUPT Law.
(Ce1tirneG.)
fMr. Ne1uton's Skeseb eaaflaafd.l

consideration IS or OiHcfent CoiuP ga
ion. Il is partial in the extreme, II O.
feratts excluiively in favor OF the nef-
chant and trader. and in contradiction
70 the genius and fpirit of the laws
of the Rates, ablolyes the trader from The
iidlment of his contract and from the
payment cf his debts-Is this neral !
Ii is, however, the evident tendency OF
the Bankrupt law. If meihcanr or
trader is indebted 10 The farmer, planter,
or merchanic, and become bankrupt, anu
obtain. his cenhcate OF diicharge, tho
his property will not yield chilling
in the pound, he is everlsaingly abioly-
ed from paying the balance. Il alter
this he becomes at rich as Ciceius the
laws cannot coerce payment the deb
Tor may enjoy all The luxuiiss ollie,
while the unfortunate creditor, poor in
deed for he want Of this balance, La
zarus like, may be denied cruSn from
bis table. Reve!e the cafe, iuPpofe the
farmer, planter, or mechanic, TO be in
debted to the merchant, that his perfon
is impriioned for the debt, that he ob.
ssins his diieharge by the inlolyent law
from confinement, by giving up his pro-
pefty, BAT which Is infuRicient TO P y the
debr. Is he comPsilable in law 10 pay
the balance yes, the obligation to
pay it remains ia force. His future &C
quiGtions obtained by the fweat Of his
brow are mortgaged to pay UP the Slait
ihilling-Is this Determination jult !?
Our minds accuaoned ard famillarlzed
10 contemplate with pleafure the equal
iuRice of the fate laws, REVOLT at and
abkor The partially and wlckedneis of
this Bankrupt law. To reconcile Us
10 this law, gentlemen, (Melirs. Bsyasd
and Smi,h) tell US that merchants are
at the ff7It of winds and waves, aud
thar they are more liable 70 accidents,
misforrunes and eafualties than other
men.
Sir, we are all, whatever may be our
,yofeilions, but pafengers through life
the temreft heats en- Us all with equal
fur, and the iron rod of advsriiry
mskes na exceptions Of pertons from the
palace to the cottage the form that
brands bark or iinks il into the "a
thomleis deep, may in lis fweep proRrate
and deRroy the farea profpses of the
farmer. III is Cur otjets TO be iuc
csfsfnlly guarded ard profeaed againll
the hazards and psrlis TO which we are
daily expofed-ihe armour Of prudence
fhou!a never lie taken of. 10 that and
thar only have we any feeori.y -it is
the Egis, without which We PERTH
This brings ne to a very inteteitine
part OF my fohjeef.
/ lhsll be briet-l hold i, Sir, to De
truth that cannot be denied, that that
law which weakens the contronl Of pru-
dence over human actions and concerns,
TABS ia ITS yirais casdinal virtue, and
leaves foc;ety expoled 70 the Iacurflons
and ravages Of every vice aa1 July
pnrluaecd that merchants fufer greater
iofes from The inprudenoy Of thoie
with whom they have exseFsiys dealings
than fron, aIl the periis and dangers OF
tie iea or tie pernicioafneis OF foreign or
doneaic markets.
When a man difcovers that he can
rid himGelfof the opportunity and de.
.mand of his creditors by Bankrupt
Law he is too apr 70 enter into engage
menss without regard 10 she niesns which
enable him 10 comply with them, and
he will likrwife be 100 prone to extend
his REGULATORS ana projects incautloully
beyond his capital. ! make 'hele re-
mssks becaufe thial they delircstcswt'h
force the e sils Of the hark-uPr Law, and
from, folici;ude / ihall ever feel 10 pro-
ssa the circumipea and purdsnt msr
chant from, Che wild and v;ilonafy pro-
;eas Of che im9rudenf and incautioas
trader Should we be ted that cerfi.
r,.,- a. 49, a,pa1 mifI SSf1