Herald of the times. [volume] (Newport, R.I.) 1830-1846, 1831-11-03

Secretary OF this meeting be instructed
to draw up IA Memorial to Congress, in
favor of establishing National Bank
rupt Law, and that our Senators and Re
personalities in Congress from Massa-
clusetts, be requested to urge lis pas
sage at the next Congress, and that this
Committee be authorised to correspond
with similar Committees, that are, or may
be appointed in the United States.
The above Resolutions were unani-
mously adopted.
The Chairman was authorised to fill
up the Committee mentioned in the lth
Resolution as soon as his convenience
would permit.
The following Letter and Remarks
were received from Hon. Daniel Web.
ster, and read from the Chair
BosToN, Oct. IS, 1881.
SIR,-As some expectation seems to
have been entertained that should at
tend the meeting this evening, must ask
you the favor to say to the gentlemen
who may assemble, that inoIsI ensall lie
engagements will dctain me elsewhere.
! had understood, il seems Incorrectly,
that the adjourned meeting was to be
holden on the 22d. II was not Till YES
tcrday that this misapprchension was cor
rected. Ia the general objects of the
meeting | cordially unite, and shall with
great pleasure, contribute my aid 10 IA
reasonable and practical Improvement Of
the Law.
/ Several years ago, put in wriinr my
own general ideas on the subject Of im-
prisonnent for debt, though with no view,
at that time, to their publication. ]
transmit you the paper, with liberty to
read it to the meeting, if you think 1t of
sufficient value.
With very true regard, yonr oht. srvt.
DAN'L. WEBSTER.
Hon. ALIEN. III. EVERETT.
Ideas Of Mr.. Uebsicr, retcrred 10 in lie
dbOre notc.
lmDriSor mcnt, Es punishment for
having contracted debts which the debt
or cannot pay, is neither consistent with
the spirit oi the times, nor with any Just
views OF eXpedicEcy and propnety. The
business Of mankind, in THIS age, is too
much connected with a system ofmuluaI
debts and credits to allow it to be consid-
cred as "A crime for ii man to be in debt.
I Nevertheless, IA broad proposition TO
abolish ali imprisonment for debt, is rnh-
or startling, and may well alarm those
who wish TO preserve Wholesome q Just
laws. Because if all imprisonment for
debt were TO be abolished, it is quite cer-
tni, tlnt Ia IA
ty, and yet set his creditors at defiance.
In the multitude and compleXity of the
forms in which property may be holden,
in a commercial community. there are
many dop0siicS, where it cannot be reach
ed, by creditors by any legal process -
One obvious and striking instance is that
of money in the funds. There is no
mode, that | am acquainted with, by
which public stocks can be attached, or
taken in execution by creditors. One
might have hundred thousand dollars in
the funds, live on the interest, and bid
defiance to his creditors, from whom,
perhaps he had obtained the money to
make the purchase.
Annuitcs, rents for life, charged om
land; morey in the hands of executors
and admnistrators-in short, notes of
hand and bills of exchange, which the
debtor may hold in his pocket, to any a
mount, are all instances and proofs of
the necessity of some means OF c)mpCH-
ut% payment, where the power OF making
payment does not really exist.
! This indicates the true, and only true
and proper object of Imprisonment for
dcbt:-which is to coerce payment where
he debtor IS oble; bit mol wiHing TO pay.
Therefore, imprisonment ought not to
be suffered by a debtor who IS not justly
suspected of holding back or conccaing
his property. This is the principle on
which bankrupt laws proceed. II the
debtor will make full disclosure and
assignment of his effects, for the use oi
his creditors, he is to be dschargcd; 1t
he will not, he is to be imprisoned, and
closely imprisoned till he will; not because
he is in debt, but because he fraudulent
ly withholds and appropriatcs to himself
the property of another.
/ And this is not unjust nor unreasona-
/ bic. Ii is fair test of the honesty and
good intentions ofthe debtor. lfhe will
fairly disclose his effects, and assign
them, there is no further use ofimprison-
mcnt; but until he is willing to do this,
he must submit to be considered Il fraud
ulent debtor, and may and ought TO be
imprisoned.
IL there be no expectation, and per-
haps there is, at this moment, no well
founded expectation, that Congress may
be prevailed on to enact Bankrupt
Law, the States are in duty bound to "a
dopt such regulations on the subject of
insolvency, as the necessities of the case