Western courier. [volume] (Ravenna, Ohio) 1837-1838, 1837-10-26

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law, besides an operation upon currency;
and that something else is a remedy to the
disappointed creiitors Of the delinquent
banks. This is his recommendations:
sin the mean time it is our duty to pro-
vide aIl't remedies against deprecia.
ted paper currency which the Constitu-
tion enables us to ford. The Treasury
Department, on several former occasions
has suggested the propriety and impor-
lance OF a uniform law concerning bank
ruptcies of corporations and other bank
ers. Through the instrumentaity OF
such law. salutary check may doubt
less. be imposed on the issues Of paper
money, and an ef1ectual remedy givento
the citizen, in way at once equal in all
parts of the Union, and fully authorized
by the Constitution"
This il the recommendations whole
of it; and here is no proposition TO ex-
clude merchants and traders; and here is
an actual proposition TO give remedy to
the injured citizens against the delinquen;
banks; which remedy would naturally be
pro rata distribution of the effects OF
the bankrupt institutions. Here, then, is
injustice to the Message, in not stating it
as it is, but as it is not; and here, also, is
injustice to the author, in representing
him as opposed to the execution of the
bankrupt law to merchants and traders,
when th. records Of this Senate bear the
evidence of the fact that he has beenone
of the most able and jealous supporters of
such a law applicable to the trading part
Of the community. speak of the bill OF
1927, brought in by General Hayne of
South Carolina, and earnestly supported
by the present Chief magistrate, then
! member n this body. 1t is unjust to sup
pose that the present Chief Magistrate
| would object to bill which should include
now those for whom he so strenuously
contended when member of this body;
there is nothing in the recommendation to
deter the friends of general bankrupt
law from coming forward to include the
trading class with the banking class; on
the contrary, there may be somathipg to
encourage them. A general bill TO in
cludo banks, as we'll as traders might
combine more support than the bills for
the latter class alono have heretofore re-
ceived Besides, ifthe President had cx'
pressly recommended the exclusion OF o.
thcr classes from the bill, it would have
been no impeachment to the action OF Con.
gress. His recommendation would have
been no prohibition upon their powers.
They mi ght have included what classes
they pleased; and if they included those
5 for which he commended in 1927, the bill
might have become the more acceptable
to HIM on that account.
The Senator from Massachusetts OBJ
| iects to our Constitutional power. to pass
such bankrupt law ay the PresiH7nt re-
commends, qualifying that recommenda-
ton, as he does, with limitation of the
law to bankers and banking corporations,
and with primary view to the regula-
ton of a paper money currency. have
shown tha! this qualification is an error
and mistake; and in doing that, have
sufficiently answered the Senator's OBJ
, lection; but choose to go further, and
to show not only the constitutional right,
but the clear expediency Of passing such
an net as the President recommends,
| whether merchants and traders shall be
; included in 1t or not.
/ The power Of Congress to pass bank
rupt laws is expressly given in our Cons
slitution, and given without Limitation or
r qualification. II lis the fourth in the num-
; her of enumerated powers, and runs thus
: rCongres sh,ll have power--to establish
: an uniform rule of naturalization, and U.
j inform laws ON the subject Of bankrupt.
cies throughout the United States" This
e is full and clear grant Of power. Up
' on its face it admits Of no question, and
d leaves Congress at full liberty to pass a
e ny kind OF bankrupt laws they please,
: limited only by the condition, that what>
, ever laws are passed, they are to be uni
S form in their operation throughout the
8 United States. Upon the face of our
a Constitution there is no question OF our
: right to pass bankrupt law. limited to
n bank and bankers; but the Senator from
' Massachusetts, (Mr. Webster, } and 9th
!. ers who have spoken on the same side
with him, must carry US to England, and
: conduct us through the labarynth Of Eng
$ iish statute law, and through the chaos OF
, English judicial decisions, to learn what
) this word, bankruptcies, in our Conslitu-
: lion, is intended to signify. In this nc.
and they, are true to the habi,s of legal
{ profession-those habits which, both in
Great Britain and our America, have be-