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


or subscribers 10 any Incorporated com
panies established by charter of act Of
Parliament, And among these negative
and affirmative exclusions and inclusions,
there are many classes which have re-
peatcdly changed positions, and found
themselves successfully ID and cut of the
bankrupt code. Now, in all this mass OF
variant and contradictory legislation,
what part of it will the Senator from
Massachusetts select forhis model? The
improved and approved parts, TO be sure!
But here Lairier presents i.se!f-an inn
passable wall interposes--a reto power
intervenes. For it 50 happens that tbe
improvements in the British bankrupt
code, those parts Of it which are consider
ed best, and most worthy of our imitation
are of modern origiE--the creations OF
the last fifty years--actualiy made since
the date of our Constitution; and, here
fore, Lol within the pale Of its purvisw
ard meaning. Yes, sir, made since The
establishment OF our Constitution, and.
therefore, not 20 be included within IFS
contemplation, unless this doctrine OF
searching into British statutes for the
meaning of our Constitution, is to make
us search forwai ds to the end OF the Brit
ish empire, as well as search backwards
to its beginning. Fact is, that the actual
bankrupt code of Great Britain-the one
that preserves all that is valuable. that con
solida,es all that is preserved. and In-
proves all that is improvable. is an act OF
most recent dhte-of the reign Of George
the Fourth, and moi yet d. zen years old,
Herr, then, in going back TO England ior
model, we are cut off frem her improve
menls in The bankrupt code. and confined
to take it as it stood under the reign Of the
Pian,aaenets. the S,uarts, and The earlier
rcigns of The Brunswick sovereIgns.-
TINS should be consideration, and sufh
cien,ly weigbty in favor of looking TO our
own Constitution alone for tine extent and
circumscripilan Of our powers.
But let US continue this discussion upon
principles o.; British example and British
legislation. We must go to England Ter
one of two things; either for a case in
poin,,to be found in some staiuie,or a gen
eral authority TO be extracted from a g'B>
eral practice. luke it either way, or
both ways. and ] am ready and able TO
vindcate, upon British precedents, our
perfect right to enact bankrupt law,
| limited in it's application 10 banks and
bankers. Aud first. for q case 10 point,
thai is to say, an English statute oil bank
ruptcy, limited 10 these lords OF the purse
strings, we have it at once, in the first act
ever passed on the subject-the aci OF the
30,h year of the reign cf Edward the
Third, against the Lumbard Jews. Eve
nv body knows that these Jews were bank
| ers, usually formed into companies. who'
issuing from Venice. Milans and other
parts Of Italy, spread over Tho south and
west Of Europe, during the middle ages,
and established themselves in every coun-
try and city in which The dawn Of reviving
civilization. and the germ OF returning IN.
dusiry, gave employment to money, and
laid the foundation Of credit. They came
10 London as early as the thirteenth CEN
tury, and gave their name 10 street which
still retains il, as well as il still retains the
particular occupation, aud the particular
reputation, which the London Jews estab-
iished for it. The first law against bank
rup,s ever passed in England. was against
the banking company composed of these
! Jews, and confined exclusively to them.
7, remained in force two hundred years,
wi,hou, any alteration whatever, AID was
nothing but the application Of the Law o'
their own country TO these bankers IN ,he
country Of their sojournment-th Italian
law, founded upon the civil law, and call
ed in Italy, banco rOtto, broken bank, J,
is in direct reference TO these Jews, and
this application the exotic bankrupt law
10 them, tha, Sir Edward Coke, in his Ia
sti,utes, takes The occasion TO say that
both the name and the wickeness of bank
ruptcy were OF foreign origin. and had
been brough. into England from foreign
parts. II was enacted under the reign OF
one Of the most glorious Of English prin
ces-a reign as much distinguished for
the benifice nee OF civil administration as
for the splendor Of lis military achieves
ments. This act Of itself is fu! answer
to the whole objection taken by the sena-
tor from Massachusetts. il shows that,
even IN England bankrup, law has bren
confined to single class of pei sons. and
that class banking company. And here
would be willing TO close my speech up,
on a compromises compromlse founded
in reason and reciprocity, and invested
with the equitable msnlle ol a mu,oa'
| concession. 1t 10 this: il we must inllow
English precedenis, let us follow them