Richmond enquirer. [volume] (Richmond, Va.) 1815-1867, 1818-03-06

properly, any consideration, 10 surren-
der to his creditors. Noproperiy, real or
personal, is the usual return--and for The
reasons already mentioned; he has no in
ducement TO stop until every iar,hing is
gone; but every Inducemeut TO 20 on To
the last extremity and il is not in the
power OF the creditor to stop him. as he
may under the bankrupt law. Mr.. Fl.
mentioned some eases, where considera-
BILE property had been obtained bv the
powers Of The bankrupt law, which ou.d
have been lost under the insovcnt system.
The obvious recommendations of a
bankrupt law, sail Mr.. Ii. are these lst.
Ii furnishes ample time and means TO the
creditors 10 investigate the conduct of the
debtor before his bankruptcy, TO ascer-
tam the cause oft, and inform themselves
OF tile iuIness and fairness Of the surren-
der OF his effects, and TO grant OF with
hoid ms discharge, as they shall find him
worthy OF II, or otherwise. 81. 1t puts
the citizens of different states on footing
OF equality IN their mutual dealings and
gives known and certain rule on The sub
Ject. Sd. Ii puts our citizens on u footing
with foreigners in their relations of debtor
and creditor. 4th 1t over-reaches all pre-
ierences and partial assignments and
fairly distributes the property among the
creditors i'm proportion to their debts. 9Th.
III offers fair inducements TO embarrassed
men to make surrender of their affairs.
before they have squandered their pro-
perry and involved their friends. 9Th. Ii
VIII restore 10 society great mass of in
dustry and talent, now lying useless, in
ueed Durdensome, TO the community ::
and lastly, it will pay "A just respect to The
rights OF humanity, which are outraged
ha
es over the Whole life of his debtor.
Mr.. II. said, the most difficult question
IN relation to the bill, would be presented
by HE first section. 1t will be found IN
diiier essentially from the English bank
rupt law, as well as from that passed in
$500. An attempt is now made TO limit
The extent of the operation of the law,
and bring It back to what was, certainly.
lis original object and design. Although
IL was III the beginning intended for ira
dcrs, and all the reasons and policy, urg-
ed III itssbehall, apply to such men, vet il
iswell known that, by long course of iu-
diclsl decisions, the provisions of the law
had, by degrees, been extended 10 every
man who could bring himself within the
terms buying and selling" although
clearly Ills principal Occupation was of a
different description. This construction
Is now so established in England, that,
although the Judges constantly complain
OF IT as departure from the real obiec,
of the law, they do not feel themselves
at liberty 10 unSetlle it. AS our law of
1900 followed the terms of the English
statutes III this respect, we also adopted
the construction that had been given TO
them; and, said MIR. II. believe much
of the evil and unpopuIarity of that law
may be traced TO this source. In framing
the bill now proposed, all these judicial
decisions had been carefully examined,
aud specially excepted, and some general
words OF description adopted, calculated
TO keep the law within lis proper legiti-
mate bounds; and excluding those per-
sons whose living is substantially got.
ten by mechanical labor, though With
some mixture of buying and selling"
limitation taken from the Recommendation
OF the Judges of the Court of Kings
Bench. In introducing this restriction. il
is presumed not only that the law is
brought back to its first and proper oh
jects, but that it will be more acceptable
TO the people of this country, who seem
TO have complained of the universalitv of
the former system.
The above is an abridged, but cor
rect report of MIR. Hopkinson's speech.
which occupied two hours in the delivery.
De6ate to be continued.