The Madisonian. [volume] (Washington City [i.e. Washington, D.C.]) 1837-1845, 1840-06-04

me time our Constitution was adopted. Sir. is
this SO Are we bound by laws lhat no lonse r
bind the people Of England, and 10 whom we
owe no allegiance? Surely, this Is conslruc-
ton which few will contend for. Are we, the
free people Of the United States, bound 10 obey
as part OF our own Constitution, the antiquated
laws and customs OF England? No, sir = the
trainers of the Constitution intended no such
thing They referred not 10 the existing laws
in England or the Colonies, on this subject; but
to the poi1er-the omnipotent power or the go
vernment over II, " Congress shall have p0arer
TO establish uniform laws on the subject Of bank
ruptcy. How has this power been exercised in
England Has il not been the subject of con-
tinued legislation Al one time the bankrupt
law included all classes afterward il was re-
stricted TO traders, and again il was extended 10
persons Of all classes. Thus the law has been
made to extend and contract to meet the ever
varying sentiment OF the people. Laws which
embraced voluntary and involuntary bankrupts
have long since been enacted, and the Govern
Inent, Tor several hundred years, have exercised
TINS power without restriction and without ques-
non. Neither the people nor the courts, nor the
parliament of Great Britain have doubted the
power OF government to enact any law in re-
gard 10 the relation of debtor and creditor
\ This power, and TO the extent il has been or
can be exercised in England, is possessed by
tNSiy muS Rrhuent goyefhmtht. ne Old Mir-
teen Colonies, when they declared themselves
free sovereign and independent States, on the
ath OF July, 1915, became, ipso facfo, seyerally
invested with this power, in as full and ample
a manner as II was possessed and could be ex-
erclsed by the Parliament of Great Britain. II,
therefore, the State sovereignties had entered
into no compact, had formed no Constitution,
had granted no power to a general government,
they would have possessed the same power over
the subject of bankruptcy, and could have ex-
ercised il in the same manner that il has been,
or can be exercised IN England. As the States
possessed this attribute of sovereignty, il was in
their power TO convey il TO any government
founded upon grant Of powers by the States.
This power is granted in the Constitution, and
its exercise is left to the discretion Of Congress
with no restriction or limitation, except that all
laws, in relation to it, shalbe uniform through.
out the United States. This restriction upon
the discretion Of Congress was the very object
for which the grant was made. Under a mum
Der OF State sovereignties, uniformity could not
be secured. Their laws would differ on this
subject, and thus ssthe citizens Of each State
would not enjoy all the privileges and immuni-
ties Of citizens in the several Statesv according
10 the true intent Of the people in forming
more perfect union," by the adoption Of the
Constitution of the United States. We are
now perceiving the wisdom Of this grant, in the
want of harmony and uniformity on this sub
ject, amongst the several States. by this view
Of the origin Of this power, and the object for
which il was granted it is evident that the
word sunforln,n does not relate TO the classes of
citizens that may be included, but means to de-
clare, that whatever class or classes Of persons
shall be included in a Bankrupt law, il shall be
made to operate upon the same class in every
State. In other words, Congress shall not in
clude one class in Louisiana and another class
in New York, nor make a law applicable TO one
State, that does not affect ALL The meaning Of
the word, uniform, is well settled in the Con-
stitution. 'sCongress shall have power to lay
and collect taxes, duties, imposts and excuses;
but all duties, imposts and excuses, shall be mni
form throughout the United States' "Con-
gress shall have power to pass uniform laws of
&c. No one can mistake its
meaning or import in these cases. All that is
required is, that the same regulations on these
subjects shall prevail in all the States. But as
have designed, throughout my remarks, not to
dwell on topics which have been fully discussed
by others, Twill dismiss this part of the subject,
with the single remark, that to my mind no pro-
vision Of the Constitution is more explicit and
no language could have more clearly conveyed
the meaning Of the trainers Of that instrument,
than that which is there employed.
Having shown that the power conferred upon
Congress, by the Constitution, is unlimited,
now proceed to inquire how it shall be exercised?
and what is the cause of the demand for the ex-
ercse of this power a
Sir, not many years since, this country pre-
scented to the eye OF the statesman and philan-
thropist scene Of prosperity and happiness
scarcely found at any time, or under any go
vernment. Ii was not confined to narrow dis
trict of country, nor to privileged class Of the
community. II spread over the whole length
and breadth of our land, and was diused
amongst, and enjoyed by the whole population.
Manufactures hourished; agriculture returned
not only an abundant harvest of the necessaries
oflife to the laborer and husbandman, but price
commensurate with his highest hopes. Trade
and commerce yielded TO the industrious and in
telligent merchant rich reward and every de-
partment Of the arts and sciences felt the genial
influences of universal prosperity Industry,
capacity, integrity and intelligence became ca
pital. The man possessed of these properties
and qualifications. was lifted to a level with the
more wealthy. This species of capital became
the great leveller, or democratic principle, by
which the power of wealth was placed upon a
level with character and credit. Under this state
of general prosperity, and the influence of these
democratic principles, great numbers were in
duced TO engage in trade, and incur large obliga-
tons, under the belief that property would con-
tinue TO be easily converted into money, and that
confidence in character would continue through
out the land. All this prosperity, and their fond
hopes were doomed to meet with a fatal, and
appalling overthrow. Suddenly, as if tornado
had visited our land with its devastating ra-
wages, we find the hopes Of the merchant, the
fond antcipations of the farmer--the prospects
of the manufacturer, and the dependence of the
laborer, overwhelmed and buried in one com
mon ruin.
In the commercial and trading circles, doubt
is the forerunner of evil, and the destruction of
prosperity. Loss of credit is loss Of property,
the wreck of hope, and beginning of despair
If oil Ei.,L. L.. a ,f lie