Wheeling times and advertiser. [volume] (Wheeling, Va. [W. Va.]) 1839-1849, 1840-12-29
An AddreSS
. Thr People Of as Utlei Stas,.
0N THE
NECESSITY OF
A BANKRUPT LAW.
An Address
FELLOW CirIss&s;

property Nhrch mcir inc ustry had accumulafed, and
pa, at od' OF their power to make payment Of her
debts.
The individuals Involved in this condition. NUN.
berpS' as At Is believed. several hundreds OF thou.
Sands, are OF ever occupation. commercial. manufae.
turing anu agricultural; and of every coudnion Oihie.
ioih muse Just entering on a career Of activity and
usefulness. 10 Iho-c who. through long periods Of asst
duons induSiry. spirited enterprise. and distinguished
service 10 t'eir families and society, had risen ID la.
dependency and worth. A grea. Frrp ,rtion Of them
having families dependent ON them for subsistence
and odncaiion. the whole nuHaber who share in these
calamftics, extends, a Is estimated, 10 more than
two millions.
Their condition. from fhe greatness I, f heir num-
hsr. and their long eoniinuance and severity Of their
misi"riunes. il nj best extremely discouraging; AMI. in.
many cases, utterly hopeless. IL has in numerous 10.
Stances been ascerained. by trennousle!arts for Que.
Two. or three years. TO be impossible to gain a relcust.
either by a surrender Of their property for the JOINT
benefit OF their crediorss by compromise with them IN
diVIdually, or by n pledge OF future earnings. and rem
dsred certain, d~erriore, unle>, relieved by tie inter.
position OF ihe NATIONAL legislature, they must continue
under embarrasstneuS and waste the remainder of lilo
IN poverty and dsspen. Without benefit Ia their ereJi.
tors. and ~ ithoa; uuliiy 20 Their community.
u thus happens urccr our present system of law,
that lice IRnoccHt. hi SIrtuOus and useful are often ia
VOWED by their msforiunes IN 4 heavier succession of
owls. than civiizsl communities are accustomed to
inflict on hi.h handed and a,roeious criminals; our
country accordingly, VOW exhibits the spectacle OF a
49, W. nv
! others ofnaional and indl - property, r~egardiull
and jealous in The extreme I keir personal rights, and
the declared eneHiies of oppression. who. nevertheless.
allow a large share of lhe most meri,srious aud useful
among thea. 10 reuain the hopeless victims of disiros-
sing want. har-assing epbarrasmcnis. and ia many
cusss, of restless and ambitious Injustice. without siren
uous e;hrrts for heir eItricaron. or serious cuneern for
their mubrtunes.
The existence and Long continuance orthnss -tupen-
duOus eFlis demands the grave consideration ct the
4 friends o! the naIipual reputation, rs well as of the in.
teres,sbf humanity. The lav o. rather want OF lax.
from Which they spring and by which they are rerpet.
uaieL IS fruitful only of injury 10 all the parties whom
, hcyronOcH-crcdiiOn as Woll as debtors; those who
sufsr The loss OF property, as well RS those vhe Gre
deSsred by HER enblrrassmeuts from its aoquIsi.
G. i'm.
IL should be considered that they who have thus by
lnavoidubie calemities been deprived of their proper.
~, while coniinucIag ia that condition. are not blame.
able for not making ~payFnrnl Of rhoir debls. II was u
physical lmP,ss.billy to them; rs immediate ~ and ah.
so!uteiT ont Oi ih"Ir power as The accomplish mont OF
any tang else the; - 10 praciicablc. In oyerlool.
ihg Tins fact, therefore, ad treating them, notwih-
standing, as under moral ubiga iion 10 discharge their
liabilities precisely as dizzy would bz were thcy in
possession Of the ACKNOWLEDGEMENTS. tie law-ir the ex
prrssIm may be eloved-Is guilty ofa cousumnte so.
hcism@i Palrablo injustice. IL cuniemplates 10 Ibeir
Hc'ual cOhGituH. hleIr himet!Iate inability; but as
though 1t were precisely he reverse uf what IL is.,s
though 'le-obsiacie 10 then eAtricarion from debt, was
one "i viii rather than of bo-esiiy; The ofFspring ofa
want not Ct property, buj ticfely OF disposition. is
hSeutuihgiy IN iHs rcsPest. fuught with essentially
i"c same HJasuEe that a IN would be, that SHOULD
impose ON CuZens a FAX. eNaediue The amount of lbo;r
p'openy' Lnd 10y PerpeiGuiAs he dCmand, rreat hem
as tHhierObl'ga1on % dsthefse. II otwih,;af1my me
want OF the .cquisie meaHS
Bat Tins Pcrprlu.pal ua legal liability, while from
. dosiinii0n ui properly. "a e~bliraIiua To pov - NOR
ally extinct Is productive a aiu greater evil as II
proves % the dcbfor an n.caar.ble obstacle 10 he ar.
g3isiG0n, by industry aud esdorprne. or the necessary
means t. discharge It's dcil. On he one hand, IL
su'9S's Inn ~ many INSTANCES To- an heavy, sense
i,Ss' ltgaI expenses. aul ~. uIe other, by Cebaring
hm from the possession of property and enipymenr OF
credit excludes him ia'm Every profitable pursuit; and
'hcnce, perpeiuauHg his psyerty, Get him of lrum all
possibility oi exirca,ion from his iudcbtvdnsss. This
- certainly IN extreme hardship; greater ihsn Feypf
hi' 'ask-nasier impose on tIeir victims. IL is not Unly
20 "iai!cid straw but Ia Jeny also nforiais and all
poEeE Of obtaining -, and yeI demand the full tale Of
bricks II ihe legal o~bligatiuh to make full pay n 4
"eo.s ne eoniInned after Tie means vt cancellIng uHcin
are lost, all equity a. well as policy mus, surely lrc
P'lres That the PowcT-sc Tar as law ~ coucerned4nf
gaming these means by Subsequent exenions, shfId
be let unimPlired thai no obstacle to Ultimate etiri
'HoaiIon should be thrOwa in ne way cf industry AMI
enterprise
The consequences of this system 10 the nnlurtuIte
themselves arc psTniciOus ~ the xtreine;-uselosSnes
nl a tE0u>sad cases, inactivity. discoungements and
despair. The avenues 10 prosperity and independence
beng h"Pelessly closed; The manacles Of p1verty and
dependence being fastened GA them indissolubly; the
Utmost 90 which they can aspire - a precarious and
~'aHy supply Of their immediate wants. They are
driven, accordingly. into sutori;naie positions wbcre
TIE riere means of subsistence are gained. and all ex-
peciaiioh Of advancement j. abandoned; or led TO rely
i'T support on casual occupations and hazardous eK-
peulonlsi iltaI end not mlreguently 10 disappointment.
a"c finally 70 moral as we'll rs pccuniary ruin. Their
lomIiies are ulsD involved with them in similar naia
"i ~eFilsi-deprived Of due supply Of their corporal
wants declared from n proper education, cut Of from
uretuI end slIniul employment. aud lhOnec maJe the
'icun's Of solitude, Of Encouragement, and Of suffer.
ing.
The operation ofthis system is extremely disadvan.
tageUus 70 he creditor. 10 almost inevitably precludes
hun from any further payment from tho debtors than
his properly, at The lime ct las insOl ency. enables
him 10 make; and, IN a Thousand eases. leaas, TO total
loss Of his debt by suhiecting the insOlvent'. estate.
through delays. 10 new risks. aud wasting ~ m person.
al and professional expenses.
+ remedy Of these various evils is man:fcsny re1uir.
roj-ihereiore, alike by the Interests Of the creditor.
The welfare Ofihe debtor. aud he good of the com.
rnuniiy ut large. Justice, humanity, policy demand
the enactment Of a national Law discharging the hon.
est Insovent from his liabilities on his surrenGering
all hs property 10 his creditors. Such a avs will sub
serve the interests Of creditors. IL will ensure Them
the largest share OF their debts which the effects Of fhe
insolycnt are adequate % pay. without the satisfaction
Of the sums that might otherwise De absorbed IN his
private end legal expenses. IL will promote lhcir in.
teresis also, ty ensuing among them an equitable d.
vision Of bis effects. 10 pace Of their being devoted |
partially Or altogether, as they IN some cases now are
10 the discharge Of a few preferred debtors. The le.
gal extraction of Hat share of their claims which r..
mains after the dsiuhution Of the insolvenfs eStntc.
viii Do truth subject Them o. no loss--as the absolute
IwpossIbliiy under the dresent system of n debtors
gaining tho means by his own exerttons 10 Discharge
large debts, renders tlem utterly valueless. This i
prc-ominsnty true ~ The present juncture. the sums
generally which insolycnts are now unable to ~dischurgc
Uciur uuusUaii large.
The unfortunate debtors aso may nghifuliy ask Of
The national justice and shumauty he passage OF such !
% Law. II Is Indispensable ~ their extrcah1n from
tlc continued evils q povertys dependence aud dis
coa~pgemenF evils which DO y not lbc dictate cithar
g1oi policy qr good feeling 10 per pcf1afs. ID will