The Yazoo Whig and political register. (Yazoo City, Miss.) 1840-1842, 1840-08-07
EDITORIAL CORRESPONDENCE.
The BANKRUPT RiIl

The Bankrupt Bill.
The following letter from valued cores
pondent in New York, win give our read
ers some correct views on The subject Of the
Bankrupt Bill, which 50 lately chsered the
hopes Of many an honest but unfortunate
debtor; but which BY Van Buren, manage
ment, has beenlaid on the table ofCongress
to rest until honester and better men rule
the destines Of this devoted country.
NEw-YoRK, JuLy is. 1910.
James a. Stevens. Esq
DEAR my GA will have seem ere this reaches
you, that the Bankrupt Bill has been defeated IN
the House, and By party uote.
There is q powerfully organized opposition here
to the Bill among the wealthy dealefsi and inmy
intercodfse with those who openly express their
opposition to this humane measure, have had
occasion to notice the workings Of that principle
Of sself-regarding INTEREST," as termed BY Jeremy
Benthan, and By the less philosophie Of mankind
segfshness. which moves them 70 this opposition.
It is a passion which governs narrow minds, and
ministers powerfully 70 the acquisitiveness of
men who strive for wealth for the love Of spowers
and is even more despicahle than that passion Of
averice which causes the miser to starye himself
from choice for fear that he may some day starve
Of necessity. We pity the latter, but we despise
the former. Having no grace Or gift above the
rest Of their kind, their only hope Of distinction
is in their money bags, and the lower the scale
of human MISERY'S made 70 run, the greater is
their self-gratulations for the peculiar position
which they fancy they. occupy. Among these
men you hear such arguments as this, sswhat do
these insolyent paupe4s know Of all the toll and
trouble, the difficulties, and the sleepess nights
which we have had TO encounter 20 preserve our
properly, which is now threatened to be taken
from US By. this Bankrupt BiIl''4 Alas, poor hu-
man nature! How little is there to envy in the
enioyments of such men2 ! would rather be
that poor beggar who sits all day at the gate Of
ST. Paul's Chuch, than such an individual He
is not afraid that his wealth will be token from
him, but his power and consequence will be re-
duced, by bringing up those who are now borne
down, to equal freedom with himself For it's
not pretended that such an act would impair the
rights Of creditors by those who understand the
provisions Of the Bill; on the contrary, it viii do
away with apreferred creditors. and give all an
equal dividend Of the insolvent debtors efeets.-
The distant creditor will come in for his proper
is the case in many instances; for il is perfectly
natural when debtor finds himself in failing
condition that he should FIRST secure his inmedi-
ate friends. Such has been, and always will be.
the case in the absence of q Bankrupt Lave
There are class of men here, who are beyond
the influence of the miserable passion which
have described, men who do not owe their great
ness 10 wealth alone, but norallyand inteliectu-
ally deserve and command the esteem Of their
fellow citizens, such are found to be the warm.
supporters Of the Bill. But viii the matter end
here? Will the friends Of this great Emaneipa-
ton Bill give II up lost without further strug
gle?
He who has studied the history Of this govern
ment from the date Of the first landing Of the
Pilgrim Fathers to the present day, may answer
The question. The social condition, the religion,
the manners and customs Of our forefathers which
have exercised such an influence over the desti-
MES of this countrys are still fell and acknowl-
edged The cradle Of infant Liberty, the reIig
of the Pilgrim Fathers, fought them that without
money and without price al could enjoy the bles-
sings Of Salvation civil liberty was the compan-
ion Of this religion, and the men Of the present
day are astonished nt the remarkable aequaln-
Itance with the science Of government displayed
10y these self-exiled Chrstians The ground
work Of our Constitution was then formed, and
from this humble origin, government now exists
which cannot be compared with any other.
eient or nodern Il stands alone, ike Adam
before his fall, perfect from te hands Of the Crea.
ltor,the plide, he glory. and The wonder Ct Tic
wofIdl
The principles Of equality Of personal liberty
and indeed the very spirit of our government, i
uverse toholding an individual beyond the extent
az bis worldly goods Tor debt. Hence we find
that IN most 81 the States the barbarous custom
Of imprisonment for debt is abolished; and in the
most commercial Of the States, bankrupt Laws
are established upon much the same PRINCIPLES Al
she Bill which has just been defeated ii TIC
House Of Representatives. The Constitution d
the United states gives 10 Congress the p0wer Il
pass an unifoIm Bankrupt Law Heretofore the
necessity 81 Hnch an Act has not been felt, now
4 Il called 1ot from all parts q the Union,and al
though defeated, Congress must respond q tie
call, 81 the passage Of the Bill required Il hi.
been said that there gre nov 100000 nsolveni
idsbtors Ia the United States, many Of whom alt.
among the most hiighminded and inteIIi gent por.
ion Of The community. Must these Be told thai
there S 40 relief; that Congress win no, carry
loas the provisions Of the Constitution, and thai
they must drag out misefable existence. revilec
and insulfed Is .p1spcrsn ID country where
freedom IS tie birth-ngh Ind liberty he watch.
word hhas been remarked 81 LEANED fof.
eiener. who has taken very clear and philosophil
view q This government that laws and custom.
lars frequently Is Be met with which contrasts