The native American., 1840-10-10

of late years the jurisdiction of the court
has been steadily extending, until at last
1t has become Il perfect star chamber,
lending its power, whether inherent, col
lateral, or assumed, we shall rot stop.to
examine, to purposes of malignat revenge.
That we are not alone in this opinion, let
the measures which have been in agita-
ton to abolish it altogether, or to modify
and restrict its jurisdiction, testify; and
that politician will earn for himself great
and enduring favor from the people, who
will steadily pursue it to its extinction.
We may take up the court of Chancery
hereafter, but these remarks are only incl
denta' to our subject at present.
Now, we hold that one great source of
national wealth and independence is in
the industry and spirit of the people, and
that whenever the industry and spirit of
an individual is crushed and broken, it
is link of the chain distracted, which
extends throughout the union, small and
perhaps unimportant in ITSELF but never
lheless link, and abstracting from the
general welfare. But take tn situation
of our country as il stands at present, the
thousands and tens of thousands who
have been suddenly impoverished and re-
dnced from competence or wealth to uttes
and hopeless insolvency, embracing a
large portion of our most active and en-
terprising men of business, aud then say,
ifthey can be kept in state of hopeless
bondage, without a great abstraction from
the national industry and spirit of the
people. Do they not present strong
claim on the national legislature for the
enactment Of a general bankrupt law,
whose provisions will be co-extensiye with
the union, and will meet the state of
things between debtor and creditor in Il
spirit ofeven handed justice, and in accor-
dance to the more enlightened spirit Of
the times in which they live-which will
give to the creditor all the property of
the debtor, andlet the otherwise ensIavrd
go free. We maintain that this is all the
creditor has rightto expect. He trusted
him OF the strength Of his properly, and
if that IS all given up and surrendered,
the obligations Of justice are discharged,
and he must look to the honor and future
success of the creditor to make good any
present deficiency in means; and the in
stances are many where unfortunate men.
after having been discharged by the cred
itor, and been afterwards successful, have
called the old creditors together and paid
them in full, principal and interest," while
the instances are few and far between, of
those who have been denied release,
ever afterwards settling with their credi
tors. There is Il feeling in the heart of
an honest and prosperous man, which
will never suffer him peacefully to enjoy
the blessings of benefcent providence.
while olddebts are hanging over him; and
how often do we fluid men who, if left to
the promptings Of their own innate fee
lings Of integrity, would exert themselves
to the utmost to pay their debts, goaded,
prosecuted, and insulted, have lost sight
ofthose feelings, and kept the property Of
their creditors to support themselves and
family, which they would not have done
under other circumstances. Again, we
hold that no law can compel the innately
dishonest man to ACT honorably, and that
severe statutory enactments press only up
on the honest and high spirited, while the
others evade, and do not feel them 1t is
matter OF notoriety that large amounts of
are covered by, and business O.
penly carried on IN the name of others,
by those who can laugh at the injunctions
of Court of Chancery, and trif1e with
the obligations of all oath, and therefore
the interference of general bankrnp, law
is an object as desirable to the creditor as
1t is to the debtor, as by its searching ope-
ration it will enable him to bring up all
parties-and unwrap all the coverings of
the insolvent-.and reach all the properly
of the debtor, wherever placed, or how
ever speciously connected--and consigns
the perjured creditor to infamy, and blasts
hereafter all his attempts to build up a
credit. The debtor being then free, can
obtain credit OH his honesty and industry,
his enterprise and commercial reputation,
and economy and strict attention to busl-
ness may, in a few years, after the lesson
he has received IN the bitter school of adj
versity, enable him to pay his old debts,
and retain his place and standing as a
merchant; but if he feels that as fast as
he earns dollar It must he paid over to
some grasping creditor, who is watching
all his movements, to pouhsc upon him
with Il writ of injunction, or to break him
up blythe enforcement of some Judgment,
and that he can never hope TO acquire
capital sufficient to carry outany compre-
hensive plan OF operations, he sinks daily
depressed in spirit, and broken down by
hopeless Insolvency, and often resorts to
the bar-room or ale-house to drown care