The Madisonian. [volume] (Washington City [i.e. Washington, D.C.]) 1837-1845, 1840-12-08
UNIFORM SYSTEM OF BANKRUPTCY

This is oac Of the subjects to which we allu.
ded in our last as properly claiming the atten-
non the present Congress. From the move
ments that have been made in different and ex-
IRENE parts Of the country, by the people, since
me last session, we infer that il is n measure
verv generally demanded, and that il will, in va
r;o,s and from numerous sources, be urged upon
the National Legislature.
The causes of this movement are TO be found
! maj whrlwind of disaster that has driven over
~ country within the last four years, and which
h,. swept from the hands probably, Of hundreds
of,housands of our citizens, the property which
their industry had accumulated, and put il out
ftheir power 10 release themselves from debt.
The substance of the thing wanted is, a Gene
nj Bankrupt Law that will release an honest but
unfortunate man from his debts, upon the sur
render Of all his property for the benefit Of his
creditors.
The Constitution Of the United States de-
clares that Congress shall have power to cstab-
lish uniform laws on the subject OF bankruptcies
throughout the United States ''-and that no
State shall pass any law impairing the obligation
of contracts Thus il appears that Congress
has the exclusive right of legslating on this sub
iect. and the existence of the right supposes the
obligation TO lie upon Congress Of exercising the
correlarive duty.
For the purpose Of awakening the attention OF
the whole country TO this subject, and to obtain
me enactment of the desired law by Congress,
.pb,anthropc Law Reform Associations have
been formed, AID an organ Of their views called
the "Phanthropic Law Reform Journal" is
now periodically published at New York.
Much light has already been thrown upon the
subject, and so far has it progressed that Bill
containing with few and slight exceptions, all
the best features that are embodied in the bank
mpt laws now existing in England, and all tina,
are good of those that have been from time
10 time proposed in this country, passed the Sc
nate of the United States at the last session. We
see no reason why the same bill, with such modi-
fcations in the details as may be necessary OF
Just, should not pass the same body at its present
session, and receive also the appreciation of the
other branch Of Congress.
The following striking paragraph on this topic
we6nd in Mr.. Webster's speech Of the 18th Of
May last:
How can we, how dare we, make perfect dead
letter of this part Of the Constitution, which have
sworn to support 2 The insolvent persons have not
power of locomotion. They cannot travel from Stat.
estate. They are prisoners Tony certain know
ledge there many who cannot come here, to thu
seat of the Government, to present their petitions t
Congress- SO great their fear that creditor will
dog their heels and arrest them in some intervenin.
State or in this District in the hope that friends vii
appear save them, by payment the debts, from i'm
Prisonment. These truths, not crcditable to tn
country, but they are truths am sorry for their ex
isence. Sir, there is one crime, quite too common
which the laws of man do not punish, but which can
not escape the Justice of God and that is the
and confinement Of debtor by his creditor, wthou
any motive earth but the hope that some friend o
relative perhaps almost poor himself his mother
may be- or his sisters his daughters will give up
their own little pittance, and make beggars of them
selves to save him from the horrors of loahsome Jail
Human retribution may not penetrate the fnty hear
that perperates it but hour is surely coming witt
more than human retributon on its wings, when tina
flint shall be melted either by the power ofpentence
and grace or in the fires of remorse."