The Madisonian. [volume] (Washington City [i.e. Washington, D.C.]) 1837-1845, 1841-08-19
rosr orrIcE CONTRACTORS.


Of the nted States had officially notified the Senate
that be had approved and signed the bill 10 repeal the
&C, commonly known the sub Treasury law.
BANKRUPT LAW.
Mr. BARNARD offered the following resolution
Resoired That at II o'clock NJ. this day, all debate
in Committee Of the Whole the state of the Union
on Senate bill No g. entitled An act TO establish
uniform system OF bankruptcy throughout The United
States shall cease and the committee shall then pro-
coed 10 vote any question or on any amendments
then pending and all amendments that may be of
fered and shall then report said bill to the House,
with such amendments may have been agreed TO by
the committee Frorided That the committee may
port said bill to the House at earlier hour II they
think proper.
Mr. GRAHAM moved 10 amend the resolution BY
substituting o'clock for 2
MIR. KENNEDY, of Md moved to amend the
amendment hy striking out o'clock this day, and
Inserting II o'clock to- morrow.
The amendment TO the amendment was rejected
And the amendment by ayes so, noes not counted
was also rejected
And then the resolution as originally offered was
adopted
On motion Of Mr. BARNARD, the House again
resolved itself into Committee Of the Whole on the
state Of the Union, (Mr TLLISGHAsT, Of Rhode Isl
and IN the char and resumed the consideration OF
the bill from the Senate 10 establish uniform SYSTEM
of bankruptcy throughout the United States
! The pending question being the motion Of Mr.
/ GORDON, OF New 1Uik, 10 strike out the enaCtlnp
clause Of the bill
| Mr.. BARNARD Chairman Of the Judiciary Com
mittee) addressed the committee reply some of the
arguments which had been urged in opposition to the
| bill, concluding with renewed and most urgent APP
/ peal 10 the House longer to withhold iiom the
country this great of relief emancipation and
justice. 4
1 Mr. SALTONSTALL said that as this bill would
shortly be taken out of committee, and as others had
got something to say as well as himself he would di
NI.ta Itu rhAn H. Ir,aE ha
had 10 say. He remarked that he would not have Ia
ken any part in this debate had it not been for the
fact that the State Massachusetts, was decidedly in
favor Of the passage OF a uniform bankrupt law and
had instructed her Senators and requested her Repre-
sentalives in Congress give their in favor of
4 such measure. With single exception no Repre-
sentative from that State had been heard on this sub
Jcct; and, as il was great commercial and manufac
| turing community, he felt deep interest in the pas
sage OF bill of this character He confessed that he
had seen great difficulties in the details of this bill,
and II was only after certain amendments had been
4 proposed as being lndspensaby necessary, and much
\ reflection on the subject, that he had made up his
mind 10 vote for the bill Looking to the great extent
OF this country, TO it, various interests the differ
ence IN the laws If the several States in relation
debtor and creditor and 10 the difficulties inequality,
and embarrassment growing out OF them, he thought
gentlemen must see that uniform bankrupt law would
tie productive of great benefit to the People large
although II was impossible, under The circumstances
/ to make law al once that would in every particular
SUIT The views OF every gentleman. They had only
10 look al the history ofiegislaton this question
be- convinced Of that fact The difficulties which pre-
sented themselves in reference to this bill had existed
with respect 10 every other which had heretofore been
introduced on the subject of bankrupt law,
The first act established in 1900 but it was re-
pealed IN 1908; and some gentlemen here might re-
collect the circumstances which led to that event.
That It was owing the party feeling of the day was
not 10 be doubted But scarcely had the law been
pealt before another attempt was made to establish
another bankrupt system. HIS belief was that il the
bankrupt act had been continued force and new pro-
visions and amendments made IT, from time To time
there could scarcely be doubt that it would have be-
come very ia>orlte part Of system, He thought
looking To the history Of all commercial countries that
such an act as tins was Indispensable 10 the United
states All The bulls introduced IN Congress from SOB
to 1877 were strictly bankrupt acts, and confined
TO merchants and the trading classes generally. And
Ii gentlemen would take the trouble to examine the
Register OF Dchncs they would find that, when the
SUBJECT was last before Congress was debated with
the most distinguished ability in both Houses Ard
what he asked, was the principle objection to the hl
" was, mat y ought to have been confined 10 the mcr
chants and trading classes. He would say that If
Congress wa, not To their constitutional pow
tr ~ the passage OF bankrupt act unless IL was free
from all the objections that might be urpc AGAINST IL
thea they never would be able to do il The Const-
luton gave the most broad and general power Con
gress over The subject And why had they not excr-
csed IL before II their duy to do H. For hi i.
/
edto hn OF voting In favor of this bill He ar,ued
that the wise who framed the Constitution be-
licved that Congress ought TO legisate on this sub
Ject that they should regulate the relations existing
between debtor and creditor in a commercial country
Ike tbs and that the law should be u.lforn but
That that desirable object could be obtained if left
10 the legislation of The several States He next adj
percd to the fact that several Of the States Of this
mon had passed lnsnvent laws TO relieve the IN for
tunate debtor and mentioned a. among The number
the States of New York and Massachusetts, Both
the acts passed by these two States almost amounted
IN character To bankrupt acts. In Massachusetts the
act was passed by great majority, and 1t was nearly
as liberal and benevolent ia its provisions as was the
bill now before the committee. We had then the ex
pericncc of these commercial States in favor Of this
system, and he believed they, in with others
would, # they constiutonay could do So enact a |
full and complete bankrupt law providing for the dis
charge OF debtors surrenderng all the property |
why he MI $ was in favor Of a bankrupt law |
As to the constitutional question there was no ne
t. 90 into ii now but he could not help expressing
his, surprise that any objection should have been
taken TO the bill on the ground that il would impar
the obligation of contracts and because also il ought
to he confined to merchants and traders only The
Constitution provided that Congress should make
laws the subiect of bankruptcies and one Of the
first and elementary principles OF bankruptcy was. |
that II scharged the bankrupt from his contract
that it released the debtor from his contract The
bankrupt law Of 800 was not prospective but re-
Prospective in It's operation, and that Of the