The Madisonian., 1840-02-13
GENERAL BANKRUPT LAW.

GENERAL BANKRUPT LAW,
ToMe Congress Of The United States.
Your nemoriasts, citizens Of the State Of New York,
respectfully represent
That the power conferred upon your honorable bodies
by the constitution, I" to establish uniform laws the
subject Of bankruptcies throughout the United States,
of the most importaI. embraced in that sacred
instrument
The trainers Of the constitution were governed by a
holy desire remove all for annosity and dis
cord which might exist among the States and the Pco.
pie, by making all subjects Of general Legislation deyove
upon Congress. upon a common arbitrator. BY this
mode alone could they hope to secure UNION among
the fifty States which in time within The
domain of this great confederacy, limited only by the
Atlantic aud Pacific Oceans, the grea, Lakes and the
Gulf Of Mexico
The powers conferred upon Congress Of great
magnitude and Importance, and the Just and equitable
exercise of them is important duty. The neglect
omission, IN many cases, subject OF much nte
rest TO the people the violation OF the constitution by
the exercise OF powers not granted.
If the States allowed to exercise Of the
powers conferred upon the General Government the
difficulties and enlbarrassments of the Union would
multiply, until the causes which clearly foreseen
by foreiahers, would overthrow the fabric which their
wisdom and sufferings erected.
Among the powers conferred upon Congress, which
are Of character TO prevent conflict OF State and
commerce among the several States" To establish
post Offices aud post roads" "To establish uniform
law the subject Of bankruptcies throughout the United
States" Ouly two Of these important powt rs have
been exercised by Congress. The other is now sub
ec Of conflicting legislation among the several States
The object which induced the people Of this country
to adopt the Federal Constitution was " to form
perfect UNION, domestic tranquility, and
he blessings of liberty themselves and their poser-
y;' and consequently Congress is bound TO exercise
all the powers which this instrument confers, which will
promote SO desirable an object
Among the various powers which have been conferred
TO secure the blessings OF liberty, none were esteem
ed Of more importance Than the right TO free ngress and
egess Of the citizens Of State into, and through,
the territory Of other States" This, among other rea-
sons, the of confcrring upon Congress the
power to establish uniform laws the subject Of bark
rup,cy.
The conflicting regulations in the several States on
the subject of bankruptcy have become serious
Of complaint and annoyance every section of the
Union No two States appear to entertain the same
opinions in relation to the rights Of debtor and creditor
and the discharge Of debtor under the laws OF any
of these soveregnties will not protect him within
the jurisdiction Of the others Hence that clause IN
the constitution which declares that g the citizens OF
each State shall be entitled 10 all the privileges and i'm
munlties OF citizens ~ the several States, is totally
disregarded and citizen OF New York Kentucky,
who cannot be arrested for debt when those States,
IS constantly subject to Imprisonment, when IN other
States for debts contracted IN the State in which he re-
sides. Thus citizen OF State not protected by
the laws and does not enjoy these privileges and imnu-
mites in other States which the trainers Of the constitu
ton intended TO confer upon him, because Congress have
neglected to exercise that wise and important power
which alone can secure those rights which, a citizen
Of the United States, he is entitled to enjoy.
It is unnecessary at this period in the history Of this
country 10 urge the importance OF laws WHICH shall al
law free and uninterrupted intercourse between the
nj o'Ihe q internal
lmproyementthe construction Of canals and railroads,
and the introduction OF steam power-are irresistible
arguments in favor Of uniform laws, which shall protect
the rights and the liberty of the people Of the
veral States while travelling in different sections OF the
Union.
This country is becoming ntercommercial to an eI.
tent unprecedented any other and every town IN the
Union must hail with pleasure every facility that shall
promote intercourse which certainly tends to make
us, in habits and feelings, one people
Upon the subject Of the propriety, Importance and
necessity of bankrupt laws, your memoralists deem It
scarcely necessary TO dwell nasmuch as IN every coun-
try where Imprisonment for debt has been recognized,
their utility has been acknowledged The constitution,
however, has clearly indicated their importance, that
any auson TO their existence therein is rendered un-
necessary aud in this community, where the trading
population subject TO successive revusons IN trade
which, from whatever cause they arise, overthrow the
honest industrious and intelligent, the necessity Of un-
form laws the subject OF bankruptcy, which shall al
low an honest 10 obtain discharge from his debts
upon surrender OF all his property, has become striking
y evident
To protect the honest and Industrious and 10 punish
the dishonest and vicious the primary object Of laws
and when they shall fail TO accomplish these great
Objects and become oppressive upon those for whom
they enacted it becomes the duty oi the Legsa-
ture to remedy the evil
The laws now in force the snbject Of debtor and
creditor operate with painful severity upon the honest
aud industrious debtor and their effect tends discou
rage his honest cxeron and deprive him Of that energy
AVID hope which alone enable him to retrieve his
fallen fortunes.
The lazy is scarchngly severe TO discover and take
from HIM, under the solemnty OF OATH all the pro-
perty he may possess, Of any kind or descrpton-and
whatever may be the general impression among the NJ
informed the legal profession well know that the most
adrot and cunning knayes scarcely conceal any
property from the hands Of the officer. II one exam
nation is satisfactory his creditor may take years
for inquiry aud continue 10 put his debtor under OATH
for the purpose Of discovering any property that may ne
secrecd conveyed for the purpose OF deiraudng ms
creditors This however, does not satisfy the law and
the creditors The debtor is still required TO pay, while
the creditor will not allow him to accumulate capital TO
transact business nor permit him to borrow Of friend
and invest il in trade Honesty is the best po-
cyn for hm--a character for integrity is worse than
useless for if he point to pure and spoess life
| II hc can show that his integrity industry and ability,