New-York tribune. [volume] (New-York [N.Y.]) 1841-1842, 1841-08-25
Ut For Liternry Notices, Life in New-0rleans,
News from Mexico. &c. sse First Page
For an 6rtere-firg Review, sec Lnst Page

LAyo, Hottie Land Distribution Biil-emPhancai'i
the Great Measure Of the Session-was ordered to ''0
reading in the Senate Monday By majority OF iN w.
trough somewha, crippled by amendments mere i 10"
scarcely shadow OF doubt that viii finally pass 'l Ooy
UJ+ The new FISCAL AGrScT BILL " wa, "
The Letter from Washington has PASSED The blouse OF me-
personalities By the decisive majority OF 81 oe' N SUI
COS. in the S, nate can hardly be douotiu
T,r p,.verpr LAw.-Thcre some sincere, right
minded men opponents Of Bankrupt Law, who apprehend
.;I from it, passage by Congress We rejoice TO believe
that every day diminishing their number and that
wear will dssipate all remaining fears. 1t is great though
common mistake suppose that this bill Is imperfect or
lenen to fraudulent debtors On the contrary will prove
The hardest net for such that they got into it l.
worth to creditors all the imprisonment for debt and other
devices Of pattern that have been known since the days
OF Roman barbarism The talent and experience of the
very first Legislators and experienced lawyers IN the land
have been tased for the last three years render ii as
perfect and mpervioIs knavery possible 1t was re-
ported originally BY Mr. WEBSTER who is believed to know
something laws and legislation II managed last year
bv Mr. CRITrESDES present Attorney General OF the United
States who has superior ius and was this year IN
1eoduced by Mr. HESDERsoy, of Mssssipp-a man in
our National Councils the very soundest and
statesmen ~
The Judiciary Committee at the head of which stands Mr.
BERRIES Gen. Jacksons Attorney General lawyer and
legislator of thirty wears standing, whose ability integrity
in either capacity questioned. 1t has since nun
The gauntlet Of amendment and discussion being reported to
the House by Hon. DAHlEL D. BARNARD an eminent law
YER scholar statesman great independence Of charac
ter and consutionally hostile all hazardous innovation
in the Senate encountered opposition headed by CAL
,f
power and subtle intellect and who would have found flaws
had any existed We have every believe there
fore that the bill is nearly perfect least far security
against frauds is regarded bu, not Congress will certainly
amend the Session before goes operation
The lst of February next
We are confident that the approximations of injury tia
creditor will prove unfoundcd Undoubtedly there
will be instances of fraud under this law but a tenth
what there has been in the absence of it, Practically, for
The last ten years. honest have paid their debts when
they could and rogues when they chose There has virtual
w. been no compulsory process, all. thinks bestt
fail the first his creditors hear of his confidential debts
have absorbed all his assets and they get nothing Perhaps
he sends word that they have twenty thirty per cent
If they will take it in full otherwise they noing and
he is pretty certain be bad hi, word The whole bu
of insolvency has been rogue lottery from beginning
10 end 1t cannot be mlde worse; must, it will be mad
better by the General Bankrupt Law The infamous con
fdeutal system will be broken up The compromise hi
guilty goes with it, And while honest bankrpts will find
the law protection and creditors efficient weapon
the knave will find considerably harder than compromising
going Texas We firmly believe that had this law been
in since 1897, would have saved Fifty Millions Of
Dollars the creditors of this City, and added twice
much the wealth Of the Country from the earnings of
crippled and parayzcd 10y Bankruptcy. Well may the coup
renances of millions brighton and their hearts feel thrill
gladncss the passage of the General Bankrup
Law