The Madisonian. [volume] (Washington City [i.e. Washington, D.C.]) 1837-1845, 1841-07-27

are 10 DC IN NotaieF St'e'oNN 800
rups with average OF ieasi three persons depen
dent on each-making 2,0O0.OoO OF souls gfoana
down 10 the earth BY the most hopeless poverty, 'ne
energy, their ambition their prospects, Tor the pfesh
destroyed, their hopes for the future bngh'eu' na
for whose benefit all this misery inneted on -"
MILLIONS OF human beings Is il for the benen' OF
the countfyl Does the country pEoni os 'n'' paly
sis OF the most enierpnsing, inieiigeh'i n.u e.
portion OF the community Is the count, 1890
hy the prosfration nav, the almost annhiiaion, % ~
pduciye abor Of her cilizens and by the consequent
debasemeni OF morals, which follows tue want 81 ei
poyment and the Distinctions OF every mo'ne - aih
bton Or Is il for the benefit OF the creditor, 'hal
This ruinous and debasing state OF things must Con
,,nue What does he expect TO gain from ~ i
there any satisfaction 10 holding his debtor 10 eternal
bondarel Does IL give him any pleasure TO behold
the helpless and hopeless condition OF his wife and
childrenl Is there his any music IN the cries
foI bread which 20 up from lspang infancy and iol-
erng age TO those who give them no reiiei Does
be derive any consolation from the prospect OF Igno
rance and chine which the inevitable lo OF those
who have not the means OF education and oi moral
culture Or is there any qualification in contrasting
his ow proud elevation with the miserable victim tha,
he has tTamped under foot No, slr, noi none o.
these things will not permit myself 10 believe that
a creditor IN human shape entertain such hcndish
feelings or be actuaed by such base motives. WhA',
then Is the cause Of his opposition 10 a Bankrupt
law which shall restore once TO light and liie
this los, and despondlng portion Of our citizens ~
Is the reluctance 10 cancel Obligation whlch Is the
seeming representative OF property II Is the vague
and underlined hope OF realizing something out OF
nothing And instead Of taking the debtors estate,
and applying H. ss far as 1t will 60 he holds MIN III
hopeless bondage till there is nothing lett 70 Apply
He cannot realize that his interests are promoted oy
letting loose this large portion Of the activity energy
and enterprise of the country lie cannot perceive
that he thereby enabling his debtor 10 become again
one OF his best customers, and to make up 10 ne"
profits, under prosperous state OF The country ,he
loss he has sustained. He cannot see that by ailpe-
-
instances receive the amount OF principal anu inte-
rest due him. Mr.. President, II the creditor canno'
see these things, Il Is high time that congress 81"
them for him. and corrected The ohliduhy OF Ills "
sion. II is with some cronlc disease ne pI'Ju-
does this subject OF the most lnNeiefale chaf-
acler. They have been wearing away gradually but
slowly from that period in Roman history when The
body of the debtor divided amongst his creditors
down 10 time when he was merely pul IN
close confinement with nothing 10 subsist on but the
charity of friends for the laudabe purpose OF ena-
bling him, that hopeful condition, TO earn enough
10 pay the demand for which he was Imprisoned.
!" Shut out from the air, and the common use
of his own limbs he made 10 drink the oaleful
cup of grief and eat the bitter bread OF misery
That rect of barbarsm, my own State, as well as
In most others thank God, is e1punged from the
statute book never to disgrace II again. The same
prejudlces encountered IN adopting the nonim-
prlsonment act, IN my own State was then IN the
Legislature Our tables groaned With circumstances
w 8 finally succeeded in abolshlng Imprisonment IN
regard 10 resident but in regard 10 NONRESIDENT
citizens A few years elapsed; public sentiment
became changed that subject, that the inpfson
ment of nonresident debtors was abolished by
unanimous vote OF both houses. Such would be the
result, after experience of well-regulated Bankrupt
law.
then ask, Mr.. President, what more important
measure of relief have before u.s. \ y atlondi
Bank il is believed would give Us uniform cur
rency, regulate the exchanges, and aid IN re'Nlng
the business Of the country. But tins would be Tor
the benefit Of unembarrassed creditors, and mol Tor
! hopeless debtors Give 10 one class UNIFORM cur
rency, and to the other uniform Bankrupt Law,
and whilst you reyiyng the business OF the one,
beg YOU Will not neglect 10 revive the hopes Of the
other OF what avail are all your measures oil rellel
10 this unfortunate portion OF our citizens you 90
not give them the only measure by which they too,
take the tide OF prosperity at It's Hood which may
once more lead TO fortune. What interest have they
IN your great measures OF relief for the counry those
measures TO widen the distance, and to make an
impossible gulph between them and their creditors
They would prefer that things remain as they are,
rather than relieve portion of the community al
the expense Of another. Such is the feeling that
exists, and you can have no stronger evidence oil
the necessity of the measure am advocating, thail
the fact that such feeling does exist. 1t shows
that the times out OF Joint, THAT our sss-
TEN does not equally protect the rights of all,-and
that these cashng and Earring feelings are the effects
OF Unbalanced, Of an unjust, and unequal operation
Of laws. | INSIST, therefore, If one measure oil
FeLtI Ouefil 10 nave ONtI dhoilciS WY
Bankrupt law ought first TO claim our attention.
What, then, Mr., President, IS the duty of Congress
on this subject, lT IS TO PASS GENERAL BANK
RCPr LAW AT THE PRESENT SESSION. consider TINS
duty imposed upon Congress by the Constitution
The power is expressly granted and II was never
intended that this power which Is exercised IN every
commercial community, should lie dormant here. IL
has thus lain for the last forty years, because Con-
gress has neglected to do its duty TO the country. 1t
is high time aroused from our lethargy and rely
a. IN th.p tdarlf p
this great subject, the People will, long disturb
sumbers. They are wide awake TO IT, and arc
resolved that il shall rest till the nunctlons Of the
Constitution are oheycd.
have said this power not intended TO lie dor
mant II was power originally possessed by the
respective States. When they declared themselves
independent of Great Britain, they became possessed
OF all the powers Of free and independent sovereign
ties. The power to pass a Bankrupt law Is an attr-
butte OF sovereignty On their separation from the
mother country, they became vested with that pow
er fully aud amply a. II was and Is possessed by
Great Britain, and had they not parted with 1t. II
would have remained 10 be exercised to the same
extent that it is exercised there. The States how
ever, granted this power 10 Congress, for the mere
purpose of having, under conederaed Govern
ment uniform system OF Bankruptcy. ltwas given
for that purpose, and for that purpose alone. And
we now have this anamoy IN our system Of Govern
ment, namely the existence of power 10 pass
Bankrupt law, which the States would exercise if
they could, and which the Emitted States could eNer-
clse If they would. The result thus lar Is that Con-
gress TtA not do rs duty, and the States cannot do
theirs to their citizens. | maintaik then that
Congress i bound to this power that 1t be
ceded back 10 the States. The first is easy propo-
sition and thereby carry out the intention Of the
Constitution viz 10 make the law unlfDrDi whereas
we can all readily lorcsee the difficulty in procuring
an amendment to the Constitution Tor the purpose OF
cedng the power back TO the States There is, then.
practically but one way open to u, and that Is the
action Of Congress without delay.
There is no limitation on the action Of Congress,
except that the law shall be upitDrm. In all other
respects il possesses the samG power and To the
IN. II1..nASnd n hDlurn lAn adm