Portland gazette and Maine advertiser., 1810-02-19

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discussion Of the merits or dement's of an
1nsoIvent act, at this tmg, in orr paper can
| have no possible bearing or influence in
etfectng the purposes OF its advocates.
We must therefore decline any more cau-
munications on the subject, for the present,
FOR THE GAZETTE.
Mr.. SHIRLEY,
N YOUR correspondent H0ne.tus" has
attempted, in very positive terms and by
single assertions unsupported by fact, to i'll.
validate the reasons and arguments, brought
forth on former occasion in your paper, in
favor Of an act for the relief of insolvent debt
ors. If the communication alluded to, be
answered and controverted-to insure the
same sort of success, it is only necessary to
adopt the manner of Honestus' and say
that TUe 6eiIeUe he mistakes the thing Is not
So but otherzriSe,' and leave the facts to
substantiate themselves. It is not intended
to enter mnutely into arguments advocating
such law our present purpose is to up
SET his doctrines to set Up our own"-it will
be useful to point out some very paipable
errors and mistakes, into which he, in the
ferment Of his opposition, has fsllen-and if
successful we shailremain perfectly satisfied
in having cs abllshed that ne for once 8 has
! reckonad without his host'-that his prem
ises were faliacious and not admissible of
support by either argument or fact. We
perfectly coincide in one sentiment that the
design is a benevolent one" but we cannot
cOnscentiously subscribe to another article
in his communication. The whole nation
was satisfactorily convinced that Bankrupt
law was ineXpedept and impoIitic.' How
does this appear Have not one third Of the
States i'll the Union, insolvent laws And
have not some others equivalents laws,
protecting the persons and real estates Of
debtors 1t was the influence of Virginia
and the southera states that brought about
the repeal of this law. To the Virginians,
1t was particularly obnoxious, for it made
their lands amenable to pay their debts. SO
far from its operating its own destruction
ii was Virginia that destroyed it and this to
save her lands-which under her own laws
are NOTABLE to attachment. She even went
so far as to threaten to secede from the u
mont was 10 make peace with this pow
erful state that the others acquiesced and
not from a convi ction that the law was dam
gerous. The defect was not IN the law,
but the administration Of it, which might
have been easily remedied. And it was &C
a fair experiment although its immediate
ends OF its first advocates were answered.
That "a Bankrupt law will add to the ia
cility Of gaining crcd.ts'--is we confess an
original idea, exactly opposite &c any one we
ever heard expressed. One of the most
powerful engines, used on all occasions, a.
Eainst a system OF Bankruptcy has been
the injury il would do, to good faith between
nj lint
iOr the fist time, we believe, it ls made the
means Of promoting individual credit this
mag BE- OrthodOX--l, is certainly now.
According 10 our humble ideas Oh the sub
ecl, We should sly hat in proportion as the
idvy f4,or the debtor, the creditor will be
nunCulio'is how he disposes IL lis property
without security if this be trul the very
end Honestus 50 much desires would be an
swered by opposite means.
But If HOntsius has really benevolent
heart As he preiends If opposed to perpet-
ual Bankrupt law, why had he not tue mag
n@nirnity TO propose something else for the
relief rf DIR suffering fellow citizens why
no, have a temporary law to help those who
have been ruined by the times
The assertion that every honest man can
get a settlement or compromise with his
and preposterous Il distinctly supposes
two things-that all creditors are honest and
humane and that nearly all debtors are
rorues. There are hundreds who are strip
ped Of every thing-what inducemcnt has
creditor to forgive his debt--none except
humanity---to say therefore, that every cred
itor is humane and feelingis as absurd as TO
insinuate that every one who cannot adjust
with his creditors is rogue. Honestus, II
his signature be the motto OF his principles,
cannot mean SO.
The English system of bankruptcy has
stood the test Of many years and 1t has been
approved and sanctioned as a measure highly
advantageous both 10 debtor and CREDITOR
the penalties attached to it areheavy and Sc
we're. The man who makes false dlscio-
sure puts at hazard liberty and lite The may
be doomed to perpetual Imprisonment, or be
declared an OUTLAW and suffer death-under
such penalties-he who would torswear
himself must have the hardihood OF robber
or murderer. and that there are but few
such villains in this world, we Will submit 70
the charitable decision of Honesius himself
presuming that he has some kn0S0ledge Of hu-
man nature: This world was not made alone
for Crsar--it was made Tor BruIus and Tor
Casslus tool greves US TO the very soul, 70
witness so many OF our most respectable CIT
,zens, hampered b. misfortunes, from which
thew never can be extricated except, through
The benevolent interference OF our honorable
legislature. There are those whom fortune