The Ohio Democrat. [volume] (Canal Dover, Ohio) 1840-1900, 1841-12-02
From the Globe.
THE BANKRUPT LAW.

we'd TO disgust its friends, degrade the le2is.
istVe character, aud scatter lls own parry 10
The winds.
The federal parly-for whiggery is but ano>
ibsr GEds for old Fedora aIsm, corrupted and
dtbaSed by the new principles Of bank moral
i,y-lhe Federal party has, on all occasions,
effected 10 stand forth as the exclusive cham
'pion Of the security Of property, and the in
volatility Of contracts. Whenever an an al
lsmpt has been made by the Democracy 10
any our Of legislative bodies 10 modify the char
lers Of banks in order to RESTRAIN their awless
exceNses, it has uniformly been resisted by
the FederaisIs, on the ground that charter
is a contract and that contracts are sacred.-
Nay so far they have carried this doctrine, that
they still lay claim 10 the last inStalnent Of The
money distribution bill, under pre,ence that it
was virtually contract between the States and
uhe General Government
Yet, notwithstanding this devotion 10 the
sanctlty Of contracts, 40 sooner DO they OBJ
tam the asce1dency IN congress than they pro-
csed to discard their own principles without
ceremony; first, by direct violation Of a con-
tract signed, sealed, and delivered, with the
Printers to the Senate; and secondly, by Vio-
lahon Of all the contracts between debtor and
creditor, that at this day remain unfulfIled.
All Of these were entered into under The faith
of existing laws. The creditor relied on these
as they then stood for the security Of his mo-
ney, and the debtor for protection FROM OPP
preston. But here 10 law which entirely
. changes The relation between debtor and cred"
itor, as they ~existed' when their contracts
were made with each other; and deprIVlng the
latter Of those securities on which he relied in
case of necessity for the payment Of his dues;
which nulIiAes hs contract with the debtor,
and places their pre-exstiug engagements on
an entirely new basis. Here, then, is vio-
latlon Of contracts by wholesale, by that party
which effects 10 be The champion of contracts,
saad which cries out more Justify against a
threatened repeal Of the charter Of bank Of
the United States az revolutionary.
@Excepuonsbe ss 10 this law. according to
the doctrines of "ves,ed rights" it's wors, fea.
ture is OK post fscto operation, and consequent
uncons,ituliouallty. To get rid of this obs,a-
Gle. q distinction 10 attempted 10 be made te-
tween ex post facto and retrospective, as we'll
as between the application Of The constIiu-
lional provision to civil and criminal casee:
Distinctions which we will venture 10 assert,
no power Of argument, no refinement Of meta
phseaI subety, can make clear 10 any man
Of ordinary common sense. Ex post facto and
retrospective equally refer TO The past, and
both equally interfere with the same great
principle; nor is the distinction between civil
and criminal law in reference tolhis' subject
less i'll founded. The same obvious principle
upphes with equal force and dHectness to both;
aud tits not more violation of justice 10
make that a.crime after It's commission which
was not so before. than. TO change The condl.
Iions Of an actually existing bargain or con
tract; greatly 10 the disadvantage Of one or
the other party, by an act Of legislation. The
only difference between ex post facto a0d re-.
Prospective, as applicable 10 this case, that
one is latin the other Euglsh. This splitting
Of hairs in legislation is almost always re
sorted TO, for the purpose Of evadiUg consti
trlional provision, violating some obvious die
tate Of common sense, or some great princi"
pie Of justice.
The second radical objection TO this law is
ils length and inaccurrcy. not 10 say obscuri-
~, which cannot but-gIve rise to great DIVER
sites of opinion in our courts Of law, and mIl>
Ioy suits 10 aD extent which cannot be antIci-
pa,ed without dsmay. This is a great evil.
The uncertainty of the law is already sufi-
cien,Iy "glorious." So much so, that it has
almost paased into a proverb, that justice is
become so blind she cannot see which side Of
;ths scales preponderates. Indeed, the gen
eial opinion seems fast verglDg TO TO the cons
ciusion, that It is next 10 impossible to coDVict
a,criminal so long as he has money in his
packet, any more than you can drown witch
We will venture 10 predict that this law will
be repealed as soon as Mr.. Senator TaT-
madge's credit system victims ale properly
whiewashed; if not before.
The vast unbounded facilities ihis act af-
fords 10 fraudulen, debtors, and the absence Of
oil due protection 10 The rghts Of creditors
are not less sacred than those Of debtors, and
both should be equally prote.ter, one against
Eaud, the other from oppression. -
This law is a downright robbery OF men Of
property, not for The benefit Of the poor who
have none, but Of men representing millions OF
properly. for which they owe nlIIons OF mo-
ney they are unwilling or unable TO pay. These
belong not TO The people, bu, 10 the ansiocracy
who live ~ splendid houses. drive gogeOu'
equlpsges and fare sumptuousy every day
There ie no, A POOR laboIiOg man in in the
United States who can or will avail hun self o
ibis Law. Ii is intended exclusively for the