Richmond enquirer. [volume] (Richmond, Va.) 1815-1867, 1827-01-25
1szMHTEsMrH CONGRESS.
TUESDAY, JANUARY IS.
IN SEN ATE.
EcoND SESSION.


OF Revolutionary and other Pensions, was read
third time, passed. and returned to the other House
BANKRUPT BILL.
/ The Order Of the Day being called, the bill &c
establish an Uniform S;stem of Bankruptcy
throughout the United States, was taken up.
Mr.. Hayue said that the bill presented i.sel
now to he Senate on the amendments suggested by
the COMMITTEES when the bill was before under
consideration in The Committee of the Whole; af.
ter which 1t would be open 10 any amendments
which The Senators might see fit to propose. He
WIS ready 10 agree &c any course which might be
/ proposed; but he would suggest whether, as mcst
OF the amendments were verbal only, the best
course would not be TO put The question upon the
adoption of the whole, when any gentleman who
hid voted III their favor might call up any oae OF
them, 10y e NO len 10 re consider.
The question upon The whole number Of amend
r>enis vas PIT, and they agreed 10.
Ihe bill was then read, section by section, and
several triing verbal amendments proposed and
made, in The course Of The reading.
Mr. Holmes proposed TO amend the last section
by the addition OF rroviso as follows: "Prov ;dej
hat the expiration IF this act shall not prevent
the complete execution of any commission that
may have been previously the, e.o issuel'-wh.ch
was adopted.
! tIt will be recoler,ei tina, the closing section
is one offered former occasion by Mr..
Holmes, and limits tie CT The act to five
years
Mr. lIayne sail, tina, he hoped, if any gentlemen
present intended offering mendlp en,s, they would
10 it a. the present time; il was very desirable
that the bill shorld Come fairly before The Senate
ON its merits, after all questions OF detail dis
posed of.
Mr.. Branch said tina, the Senate ough, fully TO
understand his b II; and il was also necessary that
The People should comprehend every principle CT
the measure. They ought to legis!ate with full
knowle ledge OF what they were about to enact. He
was OF opinion that the 93l seci N wou!d be found
likely 10 destroy all the good contemplated by the
bill. II appeared TO lin thai this section the
sugar which was to disguise the bitterness of the
pill to be prescribed to the community. The act
TO be done by the Bankrupt, Chose other than
Nercbanis) was proposed to be voluntary one
and the debtor arraisne before this tribunal, would
have II In his power TO assent to the act of Bank
ruP'cy or not. This might be productive u
good effect; but he, Mr.. Il. thought il uigh, pro-
duce bad one. lie wished TO strip the bill OF the
disguise which this section gave 20 il; aud lie
therefore moved TO stI.s- out the 93i section. II
We (the asricul,uFists) are to have benefit. let xs
have it freely apl uacoGd!,i.E@l.y, a..i iei lLet
benefit be understood.
Mr.. Holmes sail, he was very certain THAI,
when the section in question first ptopo .s.',
il no, with The design Of ~ e=;enins a Bit
ter pill. This section was offered by him the
Senatetwo or three gears STAGE 1t was not then
his OBJECT 10 sweeten the pill. His object then
AMI il nov the same, 40 make the till as
perfect "a possible; and lie had felt much pleasure
! when the Committee adopted it, That section
fairly and ,ir,ually proviso to The fist sec
ton. The FIRST section designated merchants and
traders he only persons to whom The pro
visions OF The act we're 20 extend: equenily ds
barring all other classes oil persons fl DIN receiving
| its benefits Tie 3jl =ec;ioa was added in order
10 enable o'her pesors BESIDES Merchants, to
avail themselves al this law in certain cases
Ct,f ,i.l 10 I'll -.
bill, al former period, was is d:srrrnina il. 9
! principle. II provided exclusively for meI chants
| and left the other classes unprovdej fer. Our
country was rot entirely mercantile. All of US
were az less merchants, and the dislnc len
between merchant and other persons was much
. less striking now han formerly. Formerly the
provisions ccli have ?esaT et! almost exclusive
I y, the circumstances and interests Of merchants.
/ 'i'hcy then exposed TO the risks OF the sea
10 piracy, and olher vicssiuies, which made their
/ condition peculiar. In latter tines the rraclice
! Of Insurance had become very common, and vafi-
Gus other circumsis nces had operated 10 lessen TIE
balance of ri; their parts over the other classes
OF society. Besides, we had how a large comn,a.
nifty OF manufacturers, who, al'ho' they were not
exactly merchants, according 10 the definition OF
this bill as their whole occupation not buy
ing and selling yet who bought The rasg material
worked il up ilio manufactures? They were sub
iect 10 Iisk from various causes; the Tse or fall
less affect them. Nor they the only pers
who were interested in this manner. lie had ma =
med the manufacturers only, but be nigh, hav no.
ticed Others. He thought there should be no dis
! elimination. Every class ought 10 have the bene-
! fit Of the bill; but when he first proposed this
pros ision, The arg ment made o. aga Dst H. was
that The Bankrupt Bill was framed iof the benefit
of the creditor as well as the debtor; that lie was
secured By it and that act Of Bankruptcy was
! 4 kind OF disgrace, TO which it would be unfair
Ito subject planters and manufacturers. But he
had answered, that act of Bankruptcy was clear.
~ more fer the benefit Of the debtor than the rre-
ditor, IL applied fer by The former; AMI that
it would be unjust and partial, 10 allow merchant,
| applying for the benefit of an act Of Bankrupt
cy, a discharge from bis debt, while the farmer or
manufacturer, shut on, from the privilege, must be
ruined for the lack of it. The ODD section makes
! provision that where person, other than a mer-
chant, dressed by bis creditor, he might have
the benefit ot the act, if he wished TO come in and
claim it, I, was not, as tie gentleman from Moth
Carolina supposed, entirely voluntary, because it
was supposed hat, being pressed by is creditors,
'bc persons alluGed TO in this section thereby
constrained TO tIn, refuge. This provision in The
opinion of Mr.. IL stripped the bill Of its exc!us ve
nature, and opened il freely ard literally to al
classes Of men. He thought it the best feature OF
the measure sh0ild lie have lct disposed to adj
voca,c The bill ii this provision had been omitted
Mr.. Hsyne obserV ed, that lie agreed with tie
gentleman from North Carol ma, as TO the great
care which ought 10 lie bestowed upon a measure
its principles and in $50 details.
lie would add, that il had been bis most anxiou
wish tina, il should under 90 The most rigorous ex
animation here and elseahere, from desire tina
advantage might be TAXA Of the light which lh
wisdom Of others might she'd on the subject, an,