The Camden journal. [volume] (Camden, S.C.) 1836-1851, 1840-07-18
TIE BANKRUPT BILL.

We regret to learn that the Bankrupt bill, which
passed the Senate af er so long, and so severe, a
struggle received its quietus in the House Of Re-
presentatyes on the 7th inst. 1t was read twice as
Senate bill, and on motion of Mr.. PicKESs laid on
the tribe, by vote Of 10l yeas, to SO nays. Mr..
p gave as reason for this course with the BILL the
want of time to give it that consideration which so
important subject demanded, and as the bill was
not to 90 into operation till next February, immedl
ate action was the less necessary. The whole South
Carolina delegation with the exception of MIR. But
LER, who was absent, voted for laying the bill on
tie table,
We have, during the whole discussion of this
bill Earcd this result, and should feel less con-
ccrn on the subject, if VIC did not believe that want
OF time was not the true for giving this I'M
portant measure the 60 by. Many of the members
are opposed to it together and if any mode could
be adopted to get rid of it, without coming out in
direct opposition, it would be resorted to. For
ourselves. notwithstanding the decisive vote by
which it has been disposed Of for the present, our
opinions remain unchanged not only as TO the power,
but the expedency of immediate legislation on the
subject.
The august body which framed the constitution
of the United States, gave no power to lcgislate
expressly upon particular Subjects which they would
not have acted upon themselves, had they been
called on to carry out the provisions of the constu
tiori.
We look upon the enactment Of some uniform
system of Bankruptcy, as important, apart from the
consideration Of its humane provisions in ablng hon.
est, and unfortunate Debtors to release themselves
from their obligations, SO that they may again,
rammelled, give their energies to business, and let
their country have the benefit of their talents,
tetprize and industry. 1t is of the utmost conse-
quence, in an extended country like ours which is
day by day, assuming more and more of CONNER
cial character, that we should have uniform laws
defining distinctly the obligations of debtor and
creditor. The insolvcnt laws of the various States
all of which, partake more or less of the character
of Bankrupt laws, vary the relation of debtor g.
ditor precisely into many different phases there
are States Considering therefore the commercial
character of the country without regard to the effects
of the law upon contracts slready existing, it is
important subject for legislation, which requires
prompt action. How is it possible under existing
circumstances, for creditor in New York, or Phi
ladephia to know what obligations his debtor who
lives in kentucky. Ohio or Tennessee assumes when
he makes his bill with him? What do merchants
generally know of the insolvent or Bankrupt laws
Of the different States2 There arc few of our law
yers eyen who can tell any thing about them, other
than in the State in whichthey PRACTICE. It there
fore necessary, as the constitution expressly gives
the power that Congress should without delay exer-
oise it, and thus settle a question which is Of
growing importance.