The Portland gazette. [volume] (Portland, Me.) 1818-1824, 1822-03-26
THE BANKRUPT BILL.

We regret 60 say, has received its gtieEIs. We
have never had but one opinion upon the sub
ject oflthe expedency, humanity s sound policy
Of such law. Perhaps at this period the neces-
silly for it is not 50 urgentas when the embargo
restrictions and war paralyzed the most active
efforts and disappointed the most prudent expec-
tatons; but although many of our more aged
merchants, who were once active, useful, en-
terprizing, and deservedly respected, have grad
ually sunk into that oblivion which follows even
honest poverty; whom even hope has fOrsaken,
yet many still remain, capable OF active exer-
tons, who wo1d vet be useful to the community
the benefit of whose experience and industry
former times were glad to realize The constant
fluctuations of trade yssnore especially when in
creased by the political commissions which have
recently shaken, which still shake the nations
Of Europe, affect IN the brstinstancc the mercan~
tile class; and the inevitable evils of war, op-
Grating upon the changes effected by peace.
produce events and consequences In the CON.
mercial world, which no human prudence can
avoid or foresee; whichno human exertions can
control.-We thought, at the close of the late
war, that our unfortunate merchants were SUI
ferers bv events which could neither be toreseen
nor avoided, and that, as sufferers in war, it was
first dictate and first duty upon the restora-
The long experience Of nation eminently
distinguished for its extensive commerce, enin-
emily distinguished too for its judicial policy, has
proved the utility and the wisdom Of bankrupt
system an a commercial community. Such
system, which, BY making an equal distribution
OF the effects OF insolvent merchants and traders
Of every description among all the creditors.
with such provisions, as while it secures freedom
and protection to honest poverty, shall eaecsu-
ally punish the fraudulent, cannot it w0uld
seem, need argument to support it. Il would
deprive the more greedy creditor Of the e1cl1-
sive benefit, which his avarice would snatch
fron those, who have equal rights, but (unhaP-
pilyit would seem more feeling. 1t would deprive
hard hearted seltlshness ofits unjust gratihcatiOI
rob cruelty of its wicked triumph, aud reduce
its pretensions TO the level at which justice ana
humanity aspire 1t mas ever seemed to u that
10 leave distribution Of property in cases o.
insolvency to any fortuitous circumstances .
TO sacrlhce the best principles of mankind 70 ~
worst.
We sincerely regret the loss Of the banAroP.
bIn.-There are many among Us, who are ye'
| prisoners II Var, who, if restored to freeooD+
would nave II IN their power again To e1creasS
the fund o. public happiness and national "ealu.'
/ We trust they will not remain forever hopeless
4 - loS0ao'S 5~Si Soulu ISsull. SfSA' - -
by keeping them in fetters, unless there Il.
some creditors 1--WE hope there are but te" sHoI3
who, having more cupidity than feeling, won.
draw with straighter cords the unhappy SUE
ers' burthens.-While they remain feteTeh -
community are deprived Of the benefit OF u'e-'
activity and enterprise, made valuable q - -
Perlence; and they remain mere drones n n.
public hive, to be supported by the en.efPi~
and industry of others.
! Ii Is hunted, in some of the papers, Ia.
attempt will be made 80 to alter the 49,.
4 Constitution as to authorize the seTeFal o'-'-
to legislate upon this subject fer uea'se'F's-