The Madisonian. [volume] (Washington City [i.e. Washington, D.C.]) 1837-1845, 1840-06-30
BANKRUPT BILL.
REMARKS Of MT. Dixon-

remarks Of Mr.. Dixon.
In The Senate on Wednesday hast, the Bank
rupt Bill being under discussion, and the opera
tion Of the measure being limited to two years
Mr.. DIXON moved to strike out this limita-
lion. leaving the time indefinite. He said there
might be occasion for legislation, where ilml'-
ed period Of time for the existence OF Ia"
would be very proper; when, Tor instanc.'
the law was 10 remedy mere temporary or par,
tial evil. But law that was intended as tne
commencement of permanent national system,
regulating finally the great relation OF debtor anu
creditor, and that too in pursuance OF Consu-
tutional provision Of the Federal Government
he could not but deem such a limitation unne-
cessarv. 10 saw the least Of it, inasmuch as Con-
press could at any session repeal the law, when
ever that repeal might be deemed expedient,-
II might be harmless enough for man to make
bargains with himself, and prescribe limitations
for his own action, because, while in the exer.
else Of free agency, he could enforce or cancel
them at pleasure, without the imputalion of bad
faith, and so Legislature in many matters may
limit their acts of legislation TO given period
of time, which they can always control. But, in
relation to this subject, this limitation would be
worse than useless-it will give to the intention
of this law an inauspicious character. II will
be considered that the makers Of il, instead
of forming law for a permanent bank
rupt system, have only intended il as mere
temporary relief law, for particular cass--as
mere sponge to wipe out the old scores of the
present insolvent debtors. All will admit that
ought not TO be the only object of the law, al
though il would be among its very desirable ends.
Ii has been supposed that this effort for u bank
rupt law was made as another experiment TOR
that system of bankruptcy authorized by the
Constitution, and contemplated from the com
mencement Of the Government. But is two
years fair portion Of time for such an expert
ment2 Ii will be long enough to show its inn
projections and its abuses for all new systems
are obnoxious to abuse, and in their first opera
tons develop their latent defects.
But il is said the law can be extended. That
may happen; but il is more probable that such
will be the use made of il as to render il unpopu-
lar, and put an end to further legislation on that
subject The doubt that will be entertained of
any extension Of the law, or the passage Of any
other law on the subject, will enrol thousands
on the bankrupt calendar. When the period Of
this bankrupt law is drawing to a close, many a
man who might get on well enough in business
would begin to reflect on his chances Of fortune
some time hence, and, calling to mind the suffer
ngs of the insolvent debtor when there is no
bankrupt law, would seize the opportunity as it
passed The prompt and watchful spirit that
pervades this country marks the periods of time
when self-interest may be best promoted, and
when self-preservation can be best secured
What course do men adopt when statutes OF IL
imitation are passed? Cutting of demands Of
State, or any other law of limitation, do you not
see general movement to come within the law
Do you not see your dockets enlarged with cases,
and your courts Of law filled with suitors 2 All
ACT upon the maxim of making hay while the
sun shines. Thus you will see men in crowds
f.,rf ha honk rrpf In
voluntary principle will rush into it, while others
upon the coercive principle are thrust into it,
All, for aught know, may be very appropriate
subjects. for am only speaking OF the effects il
will have on the fate of the experiment. This
will be the period when the Public will have the
subject under consideration, and the long list OF
bankrupts will be alarming, bring the system into
| public odium, and there will be an end of bank
uP, laws laws. i, p ], , ! J. -
Of this law if they supposed nothing more was
intended than two years. use of it The adop
ton Of this system involves sacrifices; il con
retrospective in its operation on past contracts
now outstanding it adds another change in bu-
siness relations, TO the inconvenience Of People
already worn down with changes; il gives new
character to the relation Of debtor and creditor
all of which would be borne, and cheerfully
borne, to secure the desirable end of perma-
nent bankrupt system. But, two years regu-
lation OF an abiding evil would only serve to
confuse rather than regulate the relations of bu-
| siness. 1t would, to be sure, relieve many use
full and deserving men from the bondage Of then
indebtedness, whose efforts are now paralyZed
and who are entitled to this relief But the
condition Of the present class of nsolvent debt
ors is not the only consideration which should
govern in forming this bill And whatever limiL
tation gives rise to jeaousy-that it is mere
temporary relief law-wi render the law I'M
popular, and destroy all hope of any permanent
| system.
| Mr.. D.'smotion to strike out the limitation was
| negatived as follows:
| YEAS-Mcssrs Brown, Dixon, Henderson, Knight
Merrick, Mouton, Phelps Porter, Rugges, Southland
Strange, Tallmadge, White-l3
| NAYS-Mcssrs Allen, Anderson Benton, Blu.
chanan, Calhoun, Clay, of Alabama Clayton Crit
tcndcn, Cuthbert, Davis, Fulton, Hubbard Hunting
ton, King, Linn, Lumpkn, Nicholas, Norvel, Pierce
Prentss, Preston, Roane Robinson, Smith, of Con
nccticut, Smith of Indiana, Sturgeon, Walker Wall
Webster, Williams Wright, Young-3a
/ -------------
| A surgical operation for Consumption of the
Lungs was recently performed in Philadelphia,
which is thus described in the Inquirer:
| We understand an operation was performed
upon Mr.. John Bethel, of Kensington, on the
10Th Of May last, which promises entire success.
| The disease was in the right side, great por-
ton Of the lung being occupied by an abscess
which communicated with the cavity of the
chest-the diagnosis being based upon physical
exploration.