The Delaware register, or, Farmers', manufacturers' & mechanics' advocate. [volume] (Wilmington, Del.) 1828-1829, 1829-06-20

Nat. Intel
Chesapeake and Delaware CanaI-The President
and Directors have made their Tenth Annual Report
to the Stockholders, at meeting held on the LIST OF
June, in which it is stated that the only remaining
portion of the work not done is small distance in
the centre of the deep cut. The leak at the Della
ware tide-lock will be successfully overcome.
The fiscal transactions of the Board appear, by a
statement submitted to the meeting. 1t was ANNOUNCE
ed in the last Report that books would be opened for
farther subscription towards loan to the Company,
and accordingly the sum of one hundred and sixty
thousand four hundred dollars was obtained, which
completed the entire sum of three hundred thousand
dollars embraced in the loan of the 10th of January,
1928. In addition to this, an act of Congress was
passed the 2nd of March, authorising the Secreta
~ of the Treasury TO subscribe, in the name and for
the of the United States for seven hundred and
fifty shares Of the Stock of the Company. The sub
scription made the 7th of the same month"; and
one hundred and fifty thousand dollars, the amount
thereof, Immediately paid.
-~sos~-
We observe that late meeting of citizens at Boston, TO
consider the eXpedency of modification of the laws egua
ting the relations of debtor and creditor Mr. Webster the
distinguished Senator of the United States expressed
opinion that the establishment of any thing like general
system of bankruptcy altogether improbable. We
consider this declaration, from that source settling the
question against bankrupt system, NOMINEE for the
decade, at least if not for half century. The failure of
this measure upon which the best ursts have bestowed
much time and labor in vain during the last fifteen years.
be attributed TO the force of prejudice than the
objections TO it, though do deny but there is for
doubt to its expediency in all its details The prejudice
against the has arisen, believe from impress
sion that proposes protection for debtors against the just
demands of credtors whilst the real operation of general
bankrupt system would be directly the reverse of this
The general bankrupt system having failed by that name
its vital principle uniformity in the laws of the several sates
must be sought in other form The mmateria
the object very important.
The only rational system is subject every mans proper
~ exclusive OF his domestic goods the
Of his debts and leave his free from confinement and
his hands from bondage. The penning up in dun
geon, to make him pay debts that he has of pay
ing an absurdy gross deserve be rdculed
And the holding an honest from the possibility Of
again laborng for the benefit of his family by subectng
earnings after insolvency. the claims of old creditors
amongst whom every thing he had has already been divided
is the very refinement of cruelty and barbar These
males in liberazed government long exist Nor
are they at all necessary to the enforcement of the
obligations of contracts When they abolished
will be made less freely perhaps,bm honestly; and
usurious dealings will be done away with in proportion the
curtamen of Credits and consequent security of debts.
M Intel