The Madisonian. [volume] (Washington City [i.e. Washington, D.C.]) 1837-1845, 1841-07-15
b A KRUPT L "A w
IN SENATE.

MIR i. said he had heretofore presented NUMEROUS
petitions this subject not only IRON his own 1la'e'
but from several other States in the Union have,
said be- purposely foTborne 10 occupy the tune OF ts
Senate with any remarks upon them came mere 70
work snd not 10 talk We all anticipated working,
not a talking session. l am prepared 10 vote on al
questions which will be submitted for our considera-
lion And | would not now break through the rule
prescribed 10 myself but for the attempt IN certain
quarter 10 make improper Impressions on the public
mind il relation 10 what deem OF the very great
est measures of relief which be adopted by Con-
gress at this extra session. namely, GgsERAL BANK
RUPr Law.
A friend has called my attention TO a recent article
in the Globe on this subject. | intended TO call the
attention OF the Senate TO Il at earlier day. but dd
not wish to interfere with Senators who were occupy
ing the morning hour with another matter The ar
tice Is as follows.
" The BANKRUPT LAw-We perceive great deal
of anxiety in different parts Of the Union about the
fate Of the bankrupt law reported by Mr. Henderson,
IN the Senate, and tell them something ABOUT
il. xTIt is not in Mr.. Clays programme, and that
omission is death warrant to T. Mr. Clay WIN no.
let il pass nop II is good political capital and was
supposed the last election, to have been worth ooo
600 votes 10 the Federal party. The Bankrupt law
must then wait the approaching Presidential canvass
in order TO give Mr. Clay the future benefit OF IL
The petitioners for the Bankrupt bill may, then,
90 to- sleep till suits Mr. Clays political views to pass
their bill In the mean time, the bill must either IN
clnde not include banks and trading corporations
To include them Is becoming more popular every day
and believed that the of the Democrats per
haps all Of them if he State banks left out would
support Bankrupt bill which should so include them
the contrary, the party will 90 against bill whIch
does include these Institutions. II the friends OF
the hill would join he Democrats and put in The banks
the bill may be passed this session rithout me license
of Mr. Clay for a Bankrupt law TO include banks
would Immediately regulate the currency and supersede
the argument for National Bank.
II is not my purpose to attempt vindcaton Of the
honorable Senator from Kentucky (Mr Clsy) from
the unjust aspersons contained In this article lie
needs at my hands. What have to say IS not
much his account, on account OF the subject
10 which this attack relates.
had hoped 10 lind least, subject for the e-
glsation OF Congress- upon which the deliheratiye
wisdom OF this body could pass without reference 10
the patry Considerations OF party And II there be
matter above all others, which ought TO be exempt
from such malign influence, il is that of Bankrupt
law From the FIRST introduction of this measure, at
former session, down the present time, its friends
have endeavored to dyest il altogether of party cha
racter appeal 10 all no present at the former
discussions OF this whether such has not been
the of its friends. With what painful regret
then, do Article, like the just read, from
paper recognised as the organ Of proud and pow
eiful party, attempting to bring this subject into the
Of party politics and To create, whether Inen-
tona noihe most impressions in regard TO
10 Of its devoted friends. The honorable Senator
from Kentucky represented hostile TO the passage
OF BansTup, law at this session, because he wishes
u keep the question open for political capital Til the
next Presidential election Was there ever more
unjust aspersion upon the motives and character oil
one OF the most distinguished and high minded men
which this country has produced | do not
wish, nor intend, To indulge in harsh language this
OCCASION but leave IL TO be judged of by honorable
gentlemen OF any and Of all parties. To be kept as
2Iicai capital Till the next Presidential election
Why, Sir what has been the uniform course of the
honorable Senator from Kentucky this subject who
il not at this moment in his seat He has been it's
open, Jealous devoted advocate, whenever il has been
- t1F, ~
he entertained doubts whether Congress would he
able 10 act upon IT, with the other great hch
were called for by the country is it to be imputed 10
him as fault Or, rather Is 1t TO be charged upon
him as o 2remeditated desgn TO defeat the measure
The gross injustice OF such imputaton, or such
charge, Is apparent its face. Other gentlemen,
friends Of this measure, entertained the doubts.
! was not one of that number. have urged the inn
pousnce Of il from the very first call of the
sioa down to the present time, measure more cal
culat,d to give immediate relief 10 the country than
any other ! have believed, and still believe, that il
can be better acted upon at this than a, the regular
session Of Congress. And believe the honorable Sc
nator from Kentucky, well as other gentlemen have
come to the same conclusion. ltl with unfegned
gret, therefore, that see any attempt to Impeach
disoH the motives Of honorub gentlemen in relation
TO their action this great national question: and
especially the motives of the distinguished Sena
tor from Kentucky when that patriotic State through
her Representative es here, has CALAMITY and disnte
restedy come up TO the relief Of the unfortunate
Tier late representative on this floor, Mr.. Crtien-
den) the present Attorney General of the United
States, was one Of the abes and ost untrng advo-
Gates of this measure. He was one Of the Judiciary
Committee which reported the bill at former session.
and maintained It with great ability through every
stage OF its progress. authorized say that his
successor (Mr, Morehead) will in this matter " fol-
low in the footsteps of his iIustrious predecessor y"
We have heretofore been told that Kentucky felt no
particular interest in the passage of this bill but her
Senators here believe Just to other portions of the
Union, and did not confine their views question
OF great general interest the narrow limits of their
own State. And on that broad disncrestcd principle
they have acted. On the subject OF relief TO homes,
unfortunate debtors, Kentucky true to the mark
as her own uneIring rifle. No matter what change
takes place IN her principles. 1t was with profound
regret that we all saw noble friend, the present
Attorney General vacate his in this body-a body
which was adorned by his presence-and enter upon
The arduous duties of another station, But
consolcd by the pres, of his successor Mr. More
head who has the head and the heart TO carry out
the principles for which his predecessor and colleague
have contcnded and might with entire justice saw
IN regard to any change o, representatives this body
from that noble State
p" Like the waves of a summer, one dies away,
Another as pleasing and shining comes OF"
But we are told, in the article Just read from the
Globe, that Bankrupt bill pass at the present
slpnf banks shall be included. | wish to warn the
friends OF this great measure against the fatal d,uson
OF thi. suggestion la the first place it has ne
cessay connexion with the subject and in the next
place, the effort To include banks made on o form
cr occasion and failed And how did 1t fail In the
last Congress majority of the Judiciary Committee
10 the Senate was composed of the opponents of the
present Administration. They the political
trends of Mr. Van Buren,. They reported a Bank
iupi bill with provision to include the banking in
STATIONS OF he country. That provision was fully
discussed IN the Senate Honorable Senators ON the
other side took strong ground against it, and
finally stricken from the bill on their motion. do
not speak OF this result for the purpose of giving
narv rharactcr But .lenk VI L Tor Tic pufunse Of