The daily Madisonian. [volume] (Washington City [i.e. Washington, D.C.]) 1841-1845, 1841-12-29

reference, anu hat the OBJECT contemplated would only
be endangered by having Parfe report made up
on il by a select committee. He, at that time pIopo-
sed refer the bill to the Committee Military AT
fairs a majority of which belonged 10 the dominant
party but his motion did not prevail. And now al
| though simple measure introduced, not TO re
| peal, but merely to postpone The operation of law
until they could look deliberately at it, and ascertain
| the wishes Of the American people, with view TO
form correct opinions, these very gen lemen who OPP
posed the several motions to refer which were then
made forward and proposed The reference of the
subject To the Committee on the Judiciary But ii
| the right, in itself and was 10 be con
sidered a bankrupt law, there was scarcely man
who would not say that the bill was grossly detective
and must be amended to insure the purposes which II
| intended 10 accomplish Ii would not do to let this
law 20 by until il was too late 10 amend it and If the
opinion was entertained that this law such
as should 90 INTO operation II surely was proper to
postpone To a day sufficiently distant to enable them
to bring their aid all the lights which had been shed
upon it since the passage of the bill. He hoped that
gentlemen would preserve their feelings OF conssien
cy and, they had he other day refused the reie
renee OF bill which had in view a simple PROPOSE
ton TO repeal he trusted that they would not perse
| we're now (when proposition was made, not TO
peal, but merely 10 postpone the operation of act
insisting that the bill Of the Senator from Missouri
| should be sent to q committee opposed to It's object :
| and thus change the whole ground which they then
| assumed.
| Mr.. MANGUM believed that the Bankrup, law
as it now exis ed could not be administered and he
had learned from judicial authority that unless they
could enGuc with ubiquity the officers whose duty IL
would be to administer the law 1t could not be led
into effect. He was therefore disposed to defer the
operation OF the act that time might be afforded to
render il effective
MI. CALHOUN concuiIed in the views Expressed
| by the Senator from North Carolina; and, although
he had intended to bring in bill to iepealth act he
would 80 for posponing it, with view TO further de-
| liberation
| Mr.. CLAY thought that the reference proposed
was proper and he had idea that the committee 10
whom II might be given III charge would retain il
til the law should 90 into effect, They
| told by those who made the bill the particular
subject OF their attention, that some amendments
must necessarily be made 10 carry It into effect,
and that the purpose Of the suspension to
enable them TO introduce amendments; but whether
banking corporations were to be included not, made
no difference. They learned from all quarters that
some amendments were Indispensable and this was
of those subjects which he could impro-
priey in yielding TO public opnionf he could be sat
| lsfed that modification OF the law called for.
| On former occasions he gave his opinions in accord
ance with the principles which he made his guide not
because his State called for this act, but upon the
broad principle that it called for by the commercial
and other States and that The Government only pos
sessed the power 10 pass such law. He would re-
peat, that it he could be satisfied beyond all contro-
versy that the public were opposed TO the law ci t
retention of it upon their satut, books he would have
no objection to suspend its operation favor its
! peal
Mr.. BUCHANAN remarked that he had studied
this subject together with all the facts connected
with it. and he hesitated not to say that the eXecu-
ton of this law the present judicial courts would
be utterly impractcable, and could not be done. If
five hundred thousand but hundred thousand,
debtors wished to take the benefit of this law, they
could not succeed, unless the present judicial force
Of the country should be increased. The Constitu-
ton gave 10 Congress alone the authority to pass
bankrupt laws, and the principle had been decided,
over and over again. that the cases OF bankruptcy
arising under them must be decided by the courts OF
the United States. As to the immediate question of
reference he did not propose to say any thing but,
whether the bill should be referred or not let gentle
men take this point into consideration, and show, if
they could that the district could discharge
hundred Of these cases III period OF seven years
Mr. HENDERSON said that the power being in
the Constitution, and the power having been taken
away from the States, to pass bankrupt laws, II was
the solemn duty of Congress to place the subject i'll
the best practicable form. He did not believe that
this law detective as to preclude it from be-
ing carried into execution; and although he believed
that the process must be slow he sat sied that
some thing could be done. However, he had no OBJ
lection that amendments should be made which would
facilitate its operations but let them not act the part
of children in this matter, by passing law, and, be-
fore it went into effect protract the commencement of
ITS operations. lie had no reason TO believe that the
public sentiment had changed upon this subject
II BANKRUPT law was otProper al the pr, sent tnic
when would 1t be proper to enact one lie hoped
that the bill would be referred to the Committee tue
judiciary that they might consider the subject debe
raely and report upon plan to facilitate the ope
ratons of the Jaw and hetrusled that they would not
delay, as he was convinced tina. 1t could even il
was, golno Immediate operation 1t could not be put
INTO operation 10y the courts, II was, TO all nen,s al
ready suspended Then what harm could it do i
But could be put into execution, and he repeated
into successful execution. lt could not do all whcA
was demanded, it true, with the despatch of a
week OF month but what could be done, ought to be
done.
Mr.. PRESTON saw no objection to act on the
subject al once and he trusted that they wund pro
coed TO It's consideration.
MIR. HUNTINGTON did not cafe how the III
was disposed of 50 far as regarded the question
reference but he thought that the Committee on the
Judiciary had hadfhe hole subject b, fore them they
could soon ascertain whether would be necessary Il
repeal the act, or TO modify H. 50 as to make it eicenl
and they could then report The Senate in accor !
dancc With Their mature deliberations
Mr.. TALLMAD GE sad that there were undoub,
edy defects IN the law, but they could be corrected
from tinc to time, as experience might suggest He
was opposed to any poslponement and especially 10
any repeal of the law and he wanted II TO 90 |
INTO operation at the time liked when The officers
whose duty il would be to administer it could ascer
tam the defects, and make them known with a view
to their Correction
After some further observations by Messrs Blu |
CHANAN, HENDERSON BENTON and Der
KEN, the question taken on the otion To refer
the bill TO the Committee on the Judiciary and it was
decided in the negalive-yeas l5 nays 25-as fol
lows
fEAS-Messls. Bates Berricn, Clay of Ken
lucky Clayton, Evans Graham, Henderson, Hun
ungton Morchead Porter simmons Southard, Tall
madge Williams, w oodbdgc-- ID.
NAYS--Messrs Allen Archer Boebv Benton,
Buchanan, Calhoun, Fulton, King, Linn, McRnberts,
Mangun, Mouton, Pierce Prcntss, Preston, Rives
Scvier, Sml h, ofConuecticut Smith OF Idiana Stur-
geon, fappan, Walker, Wood ury, Wright, Young
--25
The bill to establish an additional land district in
the State OF Alabama was ordered to be engrossed
for third reading; and then
The Senate adjourned.
HOUSE OF REPRESENTATIVES,