The Madisonian., 1840-02-13

yeI wiring something from his hard earnings the
palhy Of friends relatives II, however, debtor is
repued to be dishonest dsspsted and generally disso-
lutte IN his habits his creditor Is always ready and
willing compromise for his claim and take any thing
he get, under the belief that il he does not take
what is offered he will obtain nothing by holding Tho
claim against one destitute Of character aud prin-
cipe.
Thus, under the operation of laws, a character
Tor honesty and integrity falls upon the poor debtor like
blghting curse And he has many good reasons TO
envy the good fortune which the known character for
dishonesty confers upon him
The situation Of honest debtor under Che opera
lions OF our laws, can be Of service any person,
and Is severely injurious TO tho community After
debtor has surrendered his property and thus deprived
himself OF the means by which be transacted business,
what be do, if he still remains subject the claims
Of his creditors Suppose hm (hke thousands IN this
city, IN the prime OF life, with family dependent upon
him merchant by education, and emlnenty qualified
for mercantile pursuits IN debt many thousand dollars
beyond al his means OF payment. How is he to pro.
ceed to acquire property He is prevented from en-
gaglng again trade because every thing he may pur
chase will be subject TO the claims of his creditors
they will watch his movements with the Argus eyes OF
interest and each will be striving to pounce upon their
victim before the Others shall be spprsed Of the value
OF the discovery
The power Of the Chancery Court is invoked upon
every suspicious appearanceand il the debtor is en-
gagged IN any pursuit in which money required bill
Is filed and Injunction obtained for the purpose of again
examring the debtor oath, and introducing other
testimony which may enable the creditor to seize upon
any property the debtor may have in his possession
This proceeding may be continued during the debtors
life, and aiterwad his children and administrators an
noyed IN like manner What then, honest
debtor do! He is compelled to abandon the business
for which his education aud habits have fitted him.
he must submit to work for hire clerk, and thus
pittance for the support Of lis family, without
hope Of betering his condition. II he does this, his
creditors surely be benefited by it-and if he
does not what else can his creditors expect hun to do
which shall enable him to lquidate the debts which his
misiortuncs have thrust upon hm Do creditors pro-
pose any business Do they hold out any hope for
themselves or their debtor! 1t is very uncommon
occurrence that creditors devise any way by WHICH
debtor can obtain living. They generally from
The unfortunate man with no sympathy but with feel
ing akin to anger, and generally impressed with
vague belief that they be sympathised with
than he, although they may not be able TO detect any
one act that is obnoxious to censure
Many Debtors aer vain and lruitcss efforts to
promise and get released from their debts become DIS
hearened aud discouraged and losing all pride, spirit
and ambition, contract idle and dssonte habits which
terminate ~ an unrnely death, or in making them
burthen to their friends the public.
There are a large number however, who being thus
driven from their pursuits, and still feeling the moral
obligation TO support and protect their families, seek
obtain some petty office by which procure q preca-
rous and dependent living. To great extent
does the evil herein complained Of prevail. that Of the
thousands who seeking TO obtain emoluments of
Office more than the 5th il is supposed, forced to
become applicants because they have been unfortunate
in business, and involved debt extent that
renders payment entirely hopeless. When this fact is
property Appreciated few will be surprised the great
number Of intelligent business who not only
willing but desirons obtain the smallest ministerial
office IN the gift OF the appointing power. And this
state Of things must continue until unforiu-
debtor shall be protected by the laws and permit
ted again establish credit and support his family
from the fruits Of his industry
The laws compel to be dishonest If he would
accumuate,-he must become a knave iller--he
must learn TO dssembe and cheat. He conceal
his earnings under the name Of a child or ena,-and
the accomplished he shall prove himself his
profession. the he will be enabled to- for
himself aud his family 10 protect them against sickness
and waLt When he shall have thus obtained property
IN defiance Of the laws and in opposition to the wishes
Of his credltorsdoes any suppose he will the
property thus accumulated to pay his debts! Did
Of this kind occur! And why mas it not! Be-
he has found the laws and his creditors his
enemies. They have made him knave they COM
PEELED him to dissinulate and he looks upon those
whom he money his greatest enemies. 1t was
the power Of his creditors release him from bon
dage, and by restoring him to society and business,
able him to become servceabe himself and family
His creditors chose TO hold him degrading servude
in which his pride and ambition broken, and his
mind became devoted 10 devsing to evade the
law aud protect himself against those he believes his
unrelcntlng prosecutors.
The annals Of country DO produce on instance
ter having become insovcnt TO considerable amount,
when his creditors have refused to release him and,
the contrary, hundreds Of be shown where
debtors have discharged all their debts, including prn-
clpal and interest out OF money they had accumulated
in the transaction Of business after they had obtained
legal release from their creditors. In the case, il
impossible for honest debtor to obta property in
the other, he has every motive for exertion.
II a bankrupt law shall be enacted, which will enaba
an honest man to obtain discharge upon the surrender
Of his property what will be the effect upon tho debtor,
the creditor and society
The debtor will then feel that tho laws have made
"honesty the best polcy,'-that il he acts honestly in
all his transactions the law will protect his rights and
release him from oppression-hat he need seek to
purchase the good will of any unprinciped Individual
because he happens 10 owe him moneybut that, il he
adheres to his integrity, his mislortuncs shall bo
charged upon him as crime.
Under well devised law an honest man that finds
himself unable 10 pay his debts will immediately seek
10 surrender all his property, and render OF
his osses-and upon such surrender being made, and
satisfactory rendered OF al his effects, and the
Of his insolvency he will be restored 10
credit and society Thus the interest Of the debtor
and his creditor both stimulate him TO do oil that will
elevate his character and render HIM valuable member
Of society.
His creditors, instead Of being his enemies and per-
scouting him, WILL if they think he acted honestly and
competent to transact business, be anxious 10 afford
him assistance IN their power, and promote as Tar
as possible, his prosperity they will readily discover
that honest will appreciate their kindness to him,
aud be anxious to accumulate property to discharge
those equitable Obligations which the many avors they
may have done him will have made more binding than
any strictly legal debt. He will be received among his
creditors without rcproach, and the misortuncs Of an
honest debtor, instead of making him outcast and
degraded man, will call around him host Of interested
friends, who will be deeply anxious to sustain his cha
rac,er aud promote his welfare.
Upon application for discharge under bankrupt
law the debtor should be required establish his nieg
r