The Massachusetts spy. [volume] (Worcester [Mass.]) 1821-1823, 1821-12-26
WORCESTER,
WEDNESDAY, DECEMBER 96, 1921.
-YSsA~

- SA-
Bankrupt Law.-We copy the following re-
marks on the constitutional objection to a Bank
rupt Law, from the N. Y. Advertiser. They
go, however, only to the consideration Of the
objection to it as er post .facto and do not
touch at all the question, whether it would i'm
pair the obligation of contracts, and whether,
If so, it would be unconstitutional That it
would, was the argument of 6 PhOciOn'' in
our last. We do not profess much skill in
such questions but we were not satisfied of
the soundness of his argument. The subject
presents itself to us in this view Congress
have power g to establish uniform laws on the
subject OF bankruptcies: '-the term, bankrupt
cg, has, and had at the time of the adoption
OF the Constitution. meaning precise and
well known; and implies in il the discharge of
the person who is the subject of it, from alE
debts existing at the time of the discharge -
whether such discharge does or does not
6 impair the obligation Of contracts cannot,
as it seems to us, be essential to inquire be-
cause, if it does, still Congress are expressly
vested with the power to authorize it. and are
not prohibited from passing any law which
might impair such obligation.--We do not
mean to argue the point with PHocIoN -
but if these suggestions should induce him to
pursue the subject, we shall gladly introduce
him again to our readers.
From tie Ne1- York .4drertiser.1
1t has been objected to a national bankrupt
law, that unless some provision should be
made in ii, declaring that no debt contracted
before the passing the act should be discharged
under 1t, such law would be er post facto, and
therefore unconstitutional. The former bank
rupt law of the United States declared. that
every person described in it who should. after.
a day mentioned in the act, which day was
subsequent to'the-date Of the law, be guilty of
certain acts, should be bankrupt. Ofcoursc
no person could. under that.Iaw, be declared
bankrupt by reason of any act of baukruptcy
committed before the day mentioned. In this
point OF view that law was entirely prospective.
And II we mistake not, the bill which has sew.
eral tunes, within few years past. been be-
lore Congress, has similar provision. Ifthat
IS the fact, aud of that we have not doubt.
though we have not the bill by us, there is
nothing unconstitutional in the provisions of
the bill, even in this point of view.
IL Is, however, an essential principle of a.
bankrupt law, that the bankrupt, upon com
pllance with the acquisitions of it. and obtain
ing the consent of the prescribed proportion of
his creditors, .shouldo Zoe discharged3ron. all has
de6fS. 1t, then, it shall happen under a bank
rupt law, that bankrupt, declared to, be such
under the provisions of the law, and coming
fairly within the scope of the act, should owe
debts contracted previously to the date of the.
act, having fairly complied with its requisi-
tons, and obtained the consent of the neces-
sary amountoihs creditors, he will be discharg-.
ed from these antecedent debts as. well as the
others This viii give to the law a RETROSPECT
tive eiiect-but there is nothing in the Consti-
tuition that prohibits the passing law that
may have such an effect. Indeed, bankrupt
law when first 1t commences It's operation.
must, IN some cases, have such effect in the
very nature fittings. After afew years. it will
cease osaffect debts of this description but
the evil, If 1t be one, must exist at The outset
OF bankrupt law, let it be passed when it
may.
The truth, however, is, that the legal idea
of an &c post factO law, does not apply TO such
case. &c post tacto laws, within the intent
and meaning of the Constitution of the United
States, relate solely to matters of criminal.
and not to those of civil nature. This point
has been settled by Adhesion of the Supreme
Court OF the United States more than twenty,
years ago, and has never since, to our kpowl-
edge, been controVeyted.