Alexandria gazette & daily advertiser. [volume] (Alexandria [Va.]) 1817-1822, 1820-04-19

two hundred dollars and UPWARDS. and any
person Indebted to an indivn'ualin the sum
of me thousand dollars. or two or more
individuals in the sum of fifteen hundred
dollars TO become voluntary bsnkrupts, In
other words to metamorphose the bankrupt
act into an insoIvent act, & that not OF ge-
neral nature, but with partial and whimsical
limitations. This plan (besides'tbe general
objections TO the incorporation OF twosys-
TENS so distinct in their nature and applca-
Bile to persons n dissimilar condltlons) was
obnoxious to the following exceptions
First. Ifextended to debtors imprisoned
for the sum of two hundred dollars and up
wards. while the numerous class of poor and
INDECENT prisoners. confined for petty debts
were excluded from its benefits. And it Is
impossible to assign reason Tor this rigorous
distinction at the expense of this suffering
description of persons who have at least an
equal claim to compassion and reliel under
an insolyent act, with others more deeply in
debt.
Secondly, Persons not actually impri-
.oned, but indebted in sums less than one
thousand dollars were debarred from the
privilege of becoming voluntary bankrupts,
so that " the net was to hold the little fish
while the great ones would break through
Thirdly, and principally, this faculty of
becoming voluntary bankrupt was to be
exercised at the will OF the debtor while
no power to make him bankrupt on any ac-
count whatever was given to his creditors.
In other words, it was privilege given to
persons of all professions and callings, (who
were expressly saved by the act from liabi-
lily to bankruptcy at the will of their credi-
tors) TO make themselves bankrupt in con-
tempt Of their creditors--a project which
appeared to me to be pregnant with inJus-
Itice, inequality and fraud.
In addition, Ii was thought necessary to
provide that those who intended to avail
themselves Of this voluntary bankruptcy
should first give bonds in a penalty Of one
thousand dollars, to defray all the expens es
OF the omnission, &c. condition with
which it would be rarely in the power ofany
person imprisoned bona tide for debt OF
two hundred dollars 10 comply.
Upon finding that these amendments had
friends enough (wti; the aid OF gentlemen
protesting themselves rather adverse than
otherwise to bankrupt act in any form) to
secure their adoption. | had determined,
though reluctantly, to relinquish my objee-
ton to the union of the two objects, if the
never would consent to provide by sum-
mary process for all cases Of insolvency and
place the creditor and debtor on the same
footing. But my overtures were Intellectual,
and indeed should probably have beer the
only person among those who finally voted
against the bill, who would have been re.
conci!ed TO it, if this proposal had succeed.
Ell.
Thus was constrained by sense of du-
ty and justice, to vete against an act which
| had labored with great sincerity land dill
gence 10 procure.
On the next day after the rejection of the
bill, was induced, upon the suggestion Of
the gentleman who had patronized the a
mendnents, and OF some others, to move
tor reconsideration OF the vote, with an ea-
pectation how authorized that The amend
ments might be modified or Withdrawn.
But this motion was also lost by two votes,
and this last result, more than any other &C
currence, confirms my impression that there
has not been, at any time this session, de-
cIded majority in senare, favorable to any
bankrupt system. On the other hand the
opposition is not violent OF strenuous, and
though bankruptcy is now pre-eminently an
affllction in which hope deferred maketh
the heart SICK" cannot but persuade N.Y.
self that another year will not pass away
without statute upon this important sub.
|ject.
am, dear sir, very truly and respectfully,
yours, II. &. OTIS.
Hon. I. H. Perkins.
From the National HtelIigencer.
CONGRESSIONAL PROCEEDINGS.
HOUSE oF REPRESENTATIVES..