Richmond enquirer. [volume] (Richmond, Va.) 1815-1867, 1822-02-02
IFrOn the National InteHigencer.
CONGRESSIONAL.
HOUSE OF REPRESENTATIVES,.

dress the chair. He commenced his observa-
i'"hs ny remarkinS that he regarded this bill
as containing proposition that was calcu-
lated to sacrifice the liberties of the people,
TO destroy personal security. and the securi-
ty OF property-to abolish the mild and eQui-
Table system of jurisprudence which the wis
dom and policy of the states had ordained
TO take the administration of justice out ofthe
hands of Independent judges, and TO transfer
it to obscure and irresponsible commissioners
paid by the day. 1t changes, said he, the civil
code of the country as to the collection of
debts, conflicts with the administration of JUS
tlce under state authority; with the acts a.
galnst fraudulent conveyances; with the REM
edies IN chancery for setting such conyeyan-
ces aside, and transfers those to the federal
courts. He considered it as foundation on
which nothing good could be erected /; and the
details of the bill, having received the deliber-
ate appreciation of its friends, having had their
sanction in England and in this country in
lSO0,in 1915, and 1890, will be considered as
necessary parts ofthe whole system, aud if il
can be shewn that they are productive of mis-
chief, 1T will prove that the whole system is
radically wrong.
Under the British system, and the bill on
the table, the first inquiry presented was
who may become bankrupt? The term
merchant was well understood. 1t was sus-
tceptlble of precise definition. But this law
had receiVedsuch construction that, although
II purpurted to be confined to them, 1t was
IN reality extended to others. fla man deals
at all, he is subject to the liabilities of the Eng
llsh bankrupt law nor does that liability de.
pend upon the extent of his dealings (d) By
the British system, buying and selling brings
a man within IT'S provisions. If piece of
clothis severed, and one part of IT is taken to
the bleachers to be whtened, and the other
10 the dyer's to be coIored, the latter is held
To he liable To the eDactments of the bankrupt
law, and the former is not-and the reason
given is, that the bleacher bestows only his la
Dor, and the dyer incorporates with it his
colours, which brings him within the purview
of the act The bill on the table, it is admit
ed,contans various exceptions, and is so franz
ed as to avoid this distinction. But every one
VINO buys and sells, however small his profits,
compared To his other income, and however
few the instances of his buying and selling, is
liable to be bankrupt, unless he comes within
some one OF the particular exceptions. But,
although none but merchants are entitled to
partake ofwhat are called the benefits of this
law, yet it is far from the fact that no other
class of the community is affected by it. By
the English system, buying and selling horses
will subject the farmer to bankruptcy; and a
brIckmaker who rents a piece of land ard
makes and sells bricks, will also be liable. (b)
The reason of these cases will subject persons
to the operation this bill who little appre-
hended such consequence.
will now, said Mr.. S. consider what is an
act of bankruptcy. Here Mr.. S. adverted TO
the bill as reported by the Committee on the
Judiciary, and remarked, that there were no
less than fifteen acts, each of which would
make man a bankrupt who should be so I'M
fortunate as TO fall within its constructions
For instance, debtor keeps out of the way,
or absconds for half an hour, with a view to
delay creditor; and what is the consequence
He is bankrupt. A creditor calls at his door
in the morning for payment-the servant, by
direction of his master, denies him-and, al
though he pays the same debt in the evening,
yet it is then too late--he is irrecoverably "A
bankrupt (c) and ifthat creditor should spare
INN, yet another, possessing himself of the
evidence, may make his case remediess
Again. a man is embarrassed. He can
not raise the money TO pay off his debts, but
wishes to secure his creditors. He is able
to do it, for his property is adequate and he
is DESTROYS TO do equal and exact justice to all,
and makes a conveyance of his property for
that purpose even that is declared an act OF
bankruptcy. (d) And this too although the ira
der should continue solvent for three years af-
lt'NdIuo. w HeU one is ueCIdfeO DanNrupt,
the declaration has relation back to the time OF
committing the act of bankruptcy so as to "a
void his subsequent acts. And should a con-
yeyance be made preferring creditor, on
committing creditor, however just and fair
and however meritorious the creditor TO
whom preference is given, (e) it avails nothing,
the conveyance is void, and the trader who
made it is a hopeless bankrupt.
There was another objection to the bill OF
no small Importance. 1t was an objection oil
a negative character, for the bill contained no
provision thata corporation, for instance, a
bank, should be a bankrupt-and this provis-
Oh, whenever such bill was about to be pass
ed, ought TO stand at the head oft. If there
existed any case Ill which such a law would
be justIiiable and expedieut, it would be
in the case of banking corporation. II
was duty imposed on Congress By the Con-
stiutlOn, to regulate the currency of thecOun-
try, and they ought as far as in them lay, to
restore sOundoes5 TO the currency Ofthe Uni
ted States. But instead of extending the pro
vision Of the bill to banking corporations, il
was restricted TO merchants, traders, and
such others, as were specifically enumerated.
The greater question then required, is bank
rupt law necessary for the commercial pros.
perity Oft the country The gentleman from
Penn. (Mr Sergeant, who reported the bill
seemed TO consider bankrupt system as co.
extensive with civilization. He spoke of the
bankrupt system of Holland and Scotland
But neither Of those nations had bankrupt
law, dscharging the debtor from the obliga-
ton of his contracts, until lately, and the pe0-
pie of both have been long celebrated for iheil
commercial enterprise and intelligence --
Holland until lately bad only the cessio bono
RIM, by which the debtor gives 1p his estate
and preserves his personal liberty, without
being discharged from hisdebts " But it wa,