Morning herald. [volume] (New York [N.Y.]) 1837-1840, 1840-12-31
! nv YORK HERALD.
CD Forthe latest news by the Southern mail from
Washington, see the POSTSCRIPT on ths fourth


all quarters, in favor Of the passage of a uniform
Bs~krupt Law. And il is high time that a law Of
xhis kind passed, to relieve those individuals
of different states, who are honest, but insolvent
aad who have been so long oppressed for want of
The proper action of the national Legislature in the
premises.
The country has been, for ~ years. without
bankrupt law. In that time all sorts oil laws, con-
dieting aud duplicated, have grown up in the dii-
ferent states, Purporing to regulate the relations
between debtor and creditor, all of which odious
and inefficient. During all this time, there have
heea probably two millions and half, or one-seventh
of the popu alton Of the whole country, clading
the aeads of families and their etons, affected
materially by the want of uniform system Of BAsk-
rupt Laws
Ose reason for creating the present forn Of the
Federal Government was, to produce a complete
uniformity in all such vital matters. But far
tis most important point in Social affairs is affected
have been without the benefits of a constitution
Cor fifty years, by being destitute Of the advantages
Cd uniform Bankrupt Law. We had one, it is true,
for about two years, in the commencement OF the
present century, but this was miserably ineffective
aad odious in its Details and las destroyed,
root and branch, by the violence of party spirit
The attempt to pass law of this kind, last session
OF Congress, would have succeeded but for the
naadaess of party spirit aud it is prosabie that the
same malign influence will destroy it again.
The principal o?poser to it last year was Mr..
xebert Jafray who thus killed two birds with
stsne--the Revenue Bill and the Bankrupt Bill-by
has unique manner of gathering members together
8 sa hurry, through the agency of hackney coach
mes. And if he goes to Washington this winter,
As the paid and hired agent of the opposers OF the
Revenue Bill, he and his celebrated tail of hired
hackney coach,nen to drun up indolent members of
Congress, will also be the principal opposers OF the
Bankrupt Bill this SESSION; although he is willing to
dealt Bankrupt Bill Of his own-and against such
an array of morality and talent Mr.. Jaffray and
bis hackney coach tail, how can any measure stand!
II Congress, however, does not pass uniform
4snkruyt Law this year party spirit, we trust, will
never have chance again TO oppose it, either with
or without Jafray and his tail. The triumphant
election Of General Harrison will put party spirit
completely in obsyance; and properly construct
ed and judieously introduced, a Bankrupt Bill may
pass m the session OF 1872.
The present state of the honest, but unfortunate
debtor is miserable in the extreme The bankrupt
debtor and creditor laws Of the different States
affect only the citizens of those States; and under
fhe working Of them each State becomes great Jail,
or sail limits. The citizen-debtor of New York has
the limits Of the great Jail of the State of New York.
the river into New Jersey, Connecticut or
Pennsylvania for he viii be caught and his Jail
limits eurtailed within stone walls. And so with the
aebtsr coming here who happens to be citizen of
saother State. Then, again, foreign creditors have
privileges which denied TO domes ones; and
ds a variety Of ways the present laws regulating the
relations Of debtor and creditor odioas and
.sst
We therefore call upon MIR. Webster, Mr.. Adams, |
&r. Wright, Mr.. Clay and others, without the least
dsstinction Of party, to come forward like men who
have the OF the country and their fell
Tow citizens at heart and let them try, aud see if
they cannot drop their party fights, and their party
quarres, and do something for fer the benefit |
VI all.
The principles required TO be carried out and |
maintained by Bankrupt Bill that should benz At Ill,
very simple and soon told. There are, in fact,
tWt two principles nvolved therein. One is, that
every honest and unfortunate debtor, who gives up
ala that he possesses should be released from all fur
ther liability. The second is, that any ealment
Of property, or attempt thereat, should be consi-
dere4 as fraud, the part Of the debtor, and he
be punished accordingly. Such a law would pro-
teet asd would benefit all, and sucha law ought TO
he passed.
Ia this case the property OF the debtor would be
equally divided amongst all his creditors; and on
sOint variety OF fraudulent movements, fsmi-
lar 10 ali business men, would be dane away with.
Al the bitter feelings, violent sites lawsuits
sSon lawsuits, injunctions, orders in Chancery, ard
. hs sdred other vexatious proceedings which only
to swell the pockets OF the rapacous and
ssliy lawyers who foment these things, would be
dane away with. Failures would be less fire.
sseat; fires would be less frequent; and lettering
mercantile firms, that do not deserve TO stand, |
wsuld not be kept up by pretended friends and |
a confidential movements, until, like mercantile |
sf&sistrosms, they suck ed others with themselves
,fswn into the gulf efirretrievable ruin. Then the
Of honest and talented men whose cxer-
lions are now paraiy zed, and living without
hope" in the world, would, in a short time, honor
ssly discharge all their obi cations, and by the
~reise Of their talents and industry increase the
commercial prosperity Of the country.
a. shsrt. we might multiply instances Of the adj
wsatavcs that would result from the passage Of saeh
a law, but they must be evident to all. That any
And Of bankrupt law will al ways meet with strong
opposition, there cannot be the least doubt; for
tAere arc acertain class Of creditors who deter
r@isss to oppose bankrupt law in any and every
form and at any and every session Therefore is
~ei 90 meet such characters, and pat them dow at
ssee.
We have heard Of the land question, and the Ia
rir and the subtressury, and the p@bIic debt, and
the nat0na bank and a variety OF other qnesiios.,
brsae bed by various members in both Houses on all
~ which the action be well deferred 60 ano-
rIs~r session not Bat if the members OF the pre-
se@t Congress wish to do any thing that will really
beusat the Of the people, and that will be in
co~fo unty TO the will Of their constituents indi-
Gated all the country they had better defer all
action other alters, until they have first secured
the passage Of this measure.
OF coarse there will be the same attempts made
this winter that there last wi ntsr 10 defeat the
bill BY lace, and stocking and hose ard bobtin snd