The Charlotte journal. [volume] (Charlotte, N.C.) 1835-1851, 1841-08-05

energy and ability, which have ever char
acterized the hardy and perseyeriug citi-
zcns Of our land. Whit individual can de-
velope his energies 10 behalf Of himself and
family, when he knows that the moment he
possesses a piece Of property, some mer-
CHESS creditor may pouuce upon it by yir-
tue Of an execution, &c. Can that man
exert thai industry which could enable him
10 provide for the wants Of those allied to
him by the strongest ties Of nature, wien
this is the case All must answer no : like
an incubus his debts press him down aud
render him an useless burden upon society.
When an individual gives up all his prop
erty to satisfy the demands of his creditors
in good faith, according TO the provisions
O! this law, he will he released from the
obligations against him; he may then com
menee anew in the world and what he ac.
CURES win be his own. 1t viii not be sub
ject TO the payment of any debts contrac-
ted before the declaration oc Bankruptcy.
lnaA European countries, nith few ex-
ceptions, there exist BaLkrup, laws which
relieve the unfortunate debtor from the
grasp Of the creditor. Shall we then re-
main behind the advance Of humanity Ia
Europe Shall we who boast Of Our Iibcr-
y, lag behind the despolie courts Of tie old
world, IN the abolition Of Aumaa suffering
al!d distress In some Of the members of
the Conscdcracy, that relict Of barbarian,
Imprisonment for deLt, vet disgraces their
statute books when debtor is Unable 10
I pay, his body IS incarcerated in the walls
Of dungeon how can that satisfy the OBJ.
/ legation Of contract If promise to
Ipay you one thousand dollars and fail to
comply, how does lodging my body in pri-
sou satisfy the contract Shame to that
Statesman who possesses not the magma.
nlmity to raise his voice against this rem.
nan, Of hcalhenish barbarty.
Below we append an extract from the
speech Of the Hon. Mr.. TalImadge, Sena.
tor from New York in favor Of this bill.
Z Mr.. President, Imagination can hardly
depict the sautary effects of the passage
VI Bankrupt Law al the present session
u Congress. We may talk Of other great
measures Of relief to the country; and if
we succeed in passing them, they will be
incomplete, unsatisfactory, and, 10 a large
portion Of our teliow-cillzcns, unjust, with
ont this. to them, the greatest Of all. By
tb@ other measures, you enable those who
are now in prosperous circumstances to ia
crease their prosperity, whilst to those in
adversely, you are adding to their burdens,
already too grieveus TO be borne, the weight
/ Ola cherries, hopeless, e1lless insolvency.
/ BY Bankrupt Law, you at once give to
the country the fall benefit of the intelli-
gencc aud enterprise OF HALF NELbIoH Of
IT'S ctizens--and YOU reliuyc from distress
and absolute want, III least MILLION AND
naLF more Of those who are dependent
oa thea for support. To enlightened, pat,
rlolic, and humane legislators, IS this not
consideration worthy Of their sympathy as
well rs their patriotism The country, and
the uhole country, is deeply interested IN
this great question. As mere question
d political economy, it strongly appeals to
our judgments, as we'll as to our sense Of
justice. Who will undertake to estimate
the loss to the nation Of tie inability Of
100000 Of its citizens 10 obtain, by their
labor, competent support iar themselves
aud families An Inability produced By
reason Of the creditors execution being
suspended over their heads, and ready to
take from the helplessness of infancy and
the decrepitude Of age, the very susie
nance which has been provided for their
support Under such circumstances, uea
have no courage, no ambition 70 labor
They soon sink iIt0 a state ct Incidence
II not intemperance, md eyeuidallyto hope
lass dependency. They can earn nothing
for themselves, nothing for their families,
nothing fer their creditors, and can add no.
thing 10 the general stock of productive
industry, which makes up the wealth OF
nation, Allowing the unemployed labor Of
tho estimated number Of baukrupts IN the
United States to be worth the smallest com.
pensation, thore would be a daily loss to
the nation that startIes the tmaeinalion.-
But this is not all. When freed from the
shacklcs that bind them, their labor Is not
to hc estimated by Che ordinary standard
OF day labor. Is class, they are the
most intelligent and enlerprIsing in the
community. They are the men that give
employment to labor-that pioneer in the
enterprises OF commerce aud manufactures,
as we'll as in mechanical and agricultural
pursuits. In this view, their enterprise
and their labor, when free to act, cannot
be measured by the Ordinary standard.--
You can only estimate II BY the increase
Of the sails which wait, or Of the steam
which propels, your commerce to distant
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