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

NctNM&E.
ln llss 6rsi pisrs. - 20 he poser. Il
% foriunsiely not AZ inferred ~ eoasuue-
live power. bni enc of ne express grants
Inf the Construction. :. Congress shall
hare rawer % establish Bnllorm laws on
dc snhjeei 81 Bankruptcies throughout
he unIird Slaies" These are he wosds
ni the grant there may be questions absnG
llie ex,ens ~ the power. but there Ca
be i.ons n iis rrisieuee.
The bin which has been reported ~
lhe eomaillee prosides for voluntary
bankruptcies only. II eoalains no pro-
sislons hy whieh creditors. an An alleged
sei II bankruptcy. nav proceed against
lheir drhs'Es. with view 40 suhjeel lhem
and their rropeny 10 The operation Of the
Law. iiinaks N no coercion bs creditor
70 make his debtor subject 81 The lss
against bis will. This 10 the firss charse-
lerislie Of lhe bill. and 10 ,hs respect IL
eerisinly differs from he former bank
rnpi law 81 The United States. and from
Tie English bankIupl laws.
The bill, 100. extends lis provisions
not only 10 those who either in fac, or in
contemplation n law are traders. but 10
all persons who declare themselves insol-
yfn,. or unable 10 pay their debts and
meet their engagements. and Who desire
20 assign lIleIr properly for he benefit 81
their creditors. Ia this respect. also. il
differs from the former las. and from The
Ias Of England.
The questions. then. are two: LIST. Can
Congress consIiiuIionaIly pass bankrupt
Law which shall inclrde other persons
besidss Irsdersi %. Can ], pass Law
providing lnr solun'sry cases only; thai
il. cases 10 which the proceedings originate
only with The debtor himself
\ The consideration Of bhlh these ques-
,ioas is necesssriiy involved Ia The dis
eussion Of The present bill. inssmuch ~
il has been denied tina, Congress has
power 10 extend bsnkrup, laws further
Than 10 merchants and lrs,lers, or 10 make
,hem for voluntary eases only. This
limitation of the power Of Congress u
asserted on the idea. that the trainers al
the Constitution, in conlerring the powe'
of establishing bankrupt laas. must be
presumed 10 have had reference 10 the
bankrupt laws Of England. ~ then exist
ing; and that tho laws Of England, ihef
existing. embraced none but merchant
and traders. aud provided only for invol
uniary, or coercive bankruptcies.
Nov. sir. in the fret place, allow ms
10 remark. thst the power 10 grauied q
!. Congress 10 the most general and CON
prehensise terms. Il has one Limitation
only. which is. thai laws on the subjec
Of bankruptcies shall be uniform through
ont the United States. With This quail
ficaiion. the whole subject is placed il
the discretion and under The legislation o
Congress. The Constitution does no
say thai Congress shall haze power u
pass a bankrupt law. nor 10 introduce IN
system Of bankruptcy. Il declsres tha
Congress shall have power 10 :. eanblisl
Uniform iGrs. on me subject Of bank
rupfcies. H.rouahouffhe United Sfaies.'
This is The whole clause. nor Is there AM
limitation or restriction imposed BY an,
other clause.
What, then. is" The subject ef bank
Tnp,cipsl" or, in other words, What ar
/. bankrupiciesi" Its 10 be remembers
that The Constitution grants the power
10 Congress BY parlcnlar or spec'li
enumeration; and, in making this emu
merslion, il mentions bankruptcies IS
head Of legislslion. or a. one OF The spb
liscis over which Congress Is 10 pcssesl
authority. Bankruptcies are The subjecs
and The word is most cerisinly 70 b
taken. in its common and pupnlar sense
in tIst sense in which The People may
be supposed 10 have understood ID. whei
they rsliied The Constitution. This is ID,
Irue rule Of Interpretations And / ma,
remark. that il IS always alihle dangerous
in constituting the Conslilution. TO searcI
for ,he opinions or understanding q
). members &C he Convention in anr oihel
sources than he Constitution itself, be
cause The Consultation owes us Who'll,
force and authority to It's ratification b,
the People, and the People judged Of j
BY the meaning most sppsren. on IL
face. How particular members may hav'
understood It's provisions. il il could b,
ascer,aned. would mol. be conclusive.--
The question would sud- be. how did lii
People understand ii! Aud ihis can b,
decided only by giving their usual aceep,a
i lion To all words not evidently used in
TECHNICAL sense. and BY inquuing. in an.
case. What was The Interpretation or eS
II position presented 10 HE People wheI
!, The subject was under consideration. !
Bankruptcies. in the general use ant
acreptatian Of the fern, mean no NOR
lahan failures. A bankruptcy isaa fact
4 Ii is an occurrence IN lhelie an,lforlnne
or an indisiduai. When man canno
pay. his debts, We say he has becom'
bankrupt. OF has. fasleiI. bankruptcy j
4 no, merely the consli,ion Of man who j
insolveni, aud on whom bankrupt Las
is already acting. This would be aa,.
too technical an Interpretation. Accord
ing 10 this, there could never be bankrnr
.lla,es hscause eserv lave fif this "a are IN