The Portland gazette. [volume] (Portland, Me.) 1818-1824, 1824-04-20

PORTLAND, TUESDAY, APRIL 20, 1924.
INSOLVENCY

INSOLVENCY
We have already mentioned that the great
case Of Ogden rs Saunders, now pending before
the Supreme Court of the United States, involv-
ing the validity of the State insOvent laws Tela-
ting TO contracts made subsequent to The passage oil
such latOs, has been continued until the next
term.
1t is a question, without doubt, of immense
importance and extent, and which will therefore
he approached by the Supreme Court with cor
responding care, and. not determined but upon
the most grave and mature elaboration. Re
garding, as we do, the constitutional prohibition
upon the States against passing any acts to i'm
pair the obligation of contracts almost as the
very basis of the federal constitution itself, con-
sidered a system & to establish justice" and
regarding the judiciary Of the United States as
the legitimate, ultimate and efficient faculty Of
executing this vast national provision, we look
with great concern, not only on the wisdom bnt
prudence with which il shall dispose Of all new
cases, as they must continually arise, both as
civil and political questions. The peculiar deli
cacy Of its position as the intervening medium
-heiMeen the nnhIie sovereignty on the one
hand, and the state authority on The other, not
merely as the meRstruUm for all those questions
which present themselves for judicial solution,
but in itself being the desideratum for the
Judgement of this power under any possible or
ganization of the political system, imposes upon
il the necessity OF practical discretion as well
as acumen in its determinations. We undertake
to say that there never was any question yet
before the COdrt which will try the timbers of
the national constitution SO etfectually as thisI
If branches like the question Of internal i'm
prOvement, so long pending and likely so long
to be depending, ia the national legislature, into
political economy as well As constitutional law
AT the same time il penetrates into the profound
IF
requires the most comprehensive analysis Of the
elements Of civil obligation. The fields Of ma
tural, municipal and political law must be equal
" eXplored-although the results may be very
sparingly employed, except TO season the pro-
duct. II i one Of those instances in which
wise man must fH both hands Icith truth before he
opens his little fngeT-and the fruits OF sage en-
quiry must be like apples Of gold set in pictures
of silver.
Independent Of the causes for consideration,
arising out Of the customs, state Of the country
and the crude nature OF legislation among the
greener portions of the Western territory, ow-
nag TO the extraordinary rapdity of their growth,
shooting like wild magnOlias in the wilderness,)
there Is one other circumstance in the case, OF
too much moment perhaps to be omitted. We
do not know whether we can express ourselves
with sufficient precision and distinctness on a
point yet rather absruse to professional opinion,
though refer TO the connexion of this point
with the case, already decided, on the impoten-
cy of state legislatures 10 discharge any existing
remedies relative to existent contracts viz the
relation il NAV have 10 the future protection Of
fraudulent debtors and how far il may be al
lowable for state laws 10 abolish Imprisonment
tor debt, and thereby provide shield and sword
tor this last description ~ tile ultimate resort !;
or in case Of retaining tie lien, whether thew
will relax the security Or guaranty now given by
the right OF Imprisonment and how far by the
spirit II municipal law a remedy on the person
is essential 10 tie validity Of a contract
Mr. Clay, al the close OF bis argument took
pathetic view Of the fraternal relation which
subsists among the members Of the great human
family and maintained that il could never be
the policy 6f d beneGcent system Of government
thatthe claims Of a creditor should be paramount
10 the interests Of society and the dictates Of
humanity. Duties were owing from the unfOr-
tunate debtor 10 society, to bis family and him
self, which he ought not 10 b disabled from
performing by oppression. He proceeded 10
describe in touching and glowing traits the mis-
cry Of an individual borne down by embarrass-
ments which be could not meet, and laden with
obligations from which he could not be dis
charged by the operation OF the law. What
was physical without moral freedom Better.
tar better would il Be % avoid the scOrn Of the
world IN ne obscurity Of a prison, than 70 lin
ger out kretched existence in helpless despon-
dence. The condition 0f such an one he deem
ed 70 be far worse than slavery, a. il was agra
waited BY the sensibiity, and tantaliEed By The
semblance Of freedom without the substantial
reality. lie hoped and trusted there was some
power existing among che Conservative prinCi-
Piles Of society to administer to the relief OF such
intense misery, and provide a remedy for such
intolerHbe evils
MF. WEBSTER paid a tribute 70 the eloquent
and pathetic appeal Of Mr. Clay, and expressed