The Hillsborough recorder. [volume] (Hillsborough, N.C.) 1820-1879, 1840-06-11

bankrnpirK hes tsken plares ease 81
bsnkfneiey has arisen. whether here be
law prsfiiing for il or noi.
There may be bankruptcies. or eases
of bankfuparvs where Ihsrs are ne back
rnps laws eklsiing. Or hsuksvpi laws
may sxif. vhich shall sKlsad 10 some
bsnkrupsrlss. az some eases of bsnksDpl-
cy, and npi 10 others. We eonsDn,ly
speak e bankruptcies happening smeng
indisiduals without references 70 existing
Lave Bankruptcies, a. fsrsss or oeeaf-
fsaees. or eases. Gar which Congress Is
authorized % make provision. are failures.
A learned Jadge has said that law on lhe
snhjrcl or bankruptcies. IL The sense af
the caasliluiioa. is lsw m,king pFosi-
sion for cases Of persons failing 20 paw
heir debts 0ser The whole subject Of
these hsnkrp piriss. or these failures. The
poser II Congren. ss il slands on the
face u The Constitution. is foil and COM
plele.
And nos LEI Us ace haS il IS that ihis
broad and general power is. OF. can be.
limited BY supposed reference 10 The
English system. The argument Is lhis:
The members 81 The Convention. in con.
ferring lh:s power on Congress. must be
supposed 90 have had reference 10 The
bankrupt laws Of England; and lhe bsnk-
rupl laws of England. IS then exIspHg.
embraced only merchants and lr4ders.
and acre only applied 10 deblars 81 The
instance Of lheir CREDITORS; therefore. the
inference is SAID 10 be. that traders only
should be regarded as subjects Of any
blnkrnpl law 10 be passed By Congress,
and that no such law should give ihe
debtor himself right 10 become bank
J Irupi. Al his own request; or, Al least. that
EVERY such law sbould give right 10 The
creditor 10 proceed against his debtor.
But is this The JUST snalogyi Is this the
point OF view an which general rrsem
blance 81 our system and the English
system may be supposed 10 have been
conlemplaiedi Clearly not. in my op,a.
J ion. LEI il be admitted that The trainers
Of The Constitution looked 10 England lor
a general example; they snusibe supposed,
nevertheless. 10 have lacked 10 The power
OF Parliament. and not 70 the parlicula'
J mode in which Tia, poses had bfei
: exercised. u the particular law iheI
! actually existing. The true analogy is
, as il seems 70 me. between pawer an,
. power-lhe power Of Parliament. an'
the power Of Congress; and not between
J The power II congress esd any sesuaill
J existing British statute. which might be
perhaps. 10 many respects. guile ussuila
! bic 10 our condition. :
II The members Of the Convention diI
: no, study The British statutes. nor examin'
: Judicial decisions, 30 ascrriaia The precls
, nature Of tie actually Existing system o
bankruptcy 10 EnglsnJ. SnlI less didth
/ People Of the Unued States tfoubIe them
, srIVes with such inquiries. All saw lha
. Parlismen, possessed and exercised
I power Of passing bankrupt laws, and q
! altering and amending item. from Inn
10 time. according 10 us own discretion
and lie necessiiics Of The case. TAI
j power they intended 70 coulter on, Con
Z gress. as largely. Tor aaghi that appears
as they saw II held by Parliament Ta'
! eally british stanics we're M. cop6nei
E 10 uaders; la,ef statutes were SO coitined
and, more recenlly. again, change, have
5 been ipsJe. which bring il very name-oa'
{ classes OF persons who were nos es,eemes
Il ,faders. in England, a. he lime Of III,
} adoption Of the Constitution Of Tie Unilet
States. l may add, tlsss banksup, Laws
. properly so called, or laws provi,hug "a
/. she cessio 6onoruns. on The cuplinenl a
J iEmope. and in Scotland. were never con
! fined to traders; aud while he members
of the Conyension may be supposed q
alhave looked 10 abe example OF England
III is BY no means improbablssahas they
contemplated also The examples and iussi
tu,ions &c Other countries. s'rhereis %
i treason to suppose shsl twas iniendet
io tie mp the hands of Congress 10 ths
: establishment az thai particular bankrap
: sysiem which existed in England 10 1889
) and TO deny 10, i, all power Of lu,urt
! modification and amendmeni: IL wonl.
/ he jus, as reasonable % say thai ths
) limited States laws OF cary-nghs af pa
. tents for inventions, and many Others
9 jcoull only be mere transcripts af suci
: British statutes on the sane. subjects, a.
4 Iexisted in 1882. $50
E The grea,ohject wasto authorize Con
: lgress 10 establish a pRiform system
4 lthroaghonl all,lhe s,ates. No stale couls
! lofiiseH establish such system; Il eoult
= Ionly establish. a system Tor, itself; am
D The. drverslies. Inconsistencies, end IN
lterfeseuces Of the several stale systems
D lhad been subjects of acknowledgements
e compliant. III was attended to give, Con
lgress The power 70 establish uniforms
5 liz 10 This respscs; and Il NE Eagtish ex
/ lampIe was regarded, u iis genersl char
. lac,er. of power IN Parliamen, 70 pas
! llaws on ilIe subject. IN repeal Them, ant
5 pass Others. 10 lis discrellop, aud 10 dea
v with The whole sohjeet. hon lime u
. hime, as expsfience or ahe exigencies o
I-Iahe public should sugges. OF require
il lThe bankrnp. IS stemNpi England, as j
a existed in 1889. was not the same which