The Madisonian. [volume] (Washington City [D.C.]) 1837-1845, 1841-07-31
THE BANKRUPT BILL.

We hope that we are mistaken in the belief that q
disposition exists among many members Of the House.
unavorable to the passage Of this most important
sure. aa, 80
There is no proposition now before Congress, in
favor of which, in opinion, earnest feeling
is entertained by the People of the Union than felt
in regard to this measure Of relief .,4
1t is true that some of the States do not need it,
In many of them, insolvent laws Of the most en-
ightened and humaney polite character, already ex
list. In others, SUCH for instance, Kentucky, and
in large portion of the State of Pennsylvania, where
agriculture is the principal employment of the People,
but little necessity is felt for the passage of such law
But we hope and trust that no short sighted and
narrow policy, such as is defined by the limits of
any State section of this Union, will be permitted
to prevent the granting measure SO earnestly and
imperatiyely demanded by the voice-aye, indeed, by
the groans of distressed People 1t is measure for
the emancipation of thousands Of the best and most
useful and enterprsing merchants and mechanics of
the country; men, most of whom in bondage
worse than that Of the Israeites compelled to make
bricks tohie the strap is withheld-required to pay
their debts, while they not left at liberty to
else their industry and talents to create the means,
and kept for life in hopeless dependency and idle
ness. We are certain that none will for moment
hesitate upon this measure who have been at all am-
lar with the numerous of misfortune which ex-
list in all commercial cities and in the South est
ern States.
In the city of New York alone, hundreds of in
dustrious honest, highminded merchants, have BEEN
within the last five years. utterly ruined while in the
exercise of their legitimate business by the
calames of the last few years. Caamites created
directly indirectly by the ocous interference of
heartess or ignorant government. We doubt whe-
Their than one third of the firms who were six
years ago transactng business in Pearl street. in that
city, to be found there. Ruin has swept over
it, and those who there almost literally
built up, like St. Petersburg, upon a foundation of
human bones. .,s....-. a.. &. .,s. a.E. o.. .g.@,s
In some of the States, the old and worse than bar
barian system of imprisonment for debt still prevails
and though it involves degree of tyranny greater
than that Of the euda ages and degree of absurdy
than childish, yet there no hope of its imme
diae change Congress, therefore, the only source
Of relief to the debtor in those States.
Reasonable and far sighted creditors are among the
most earnest petitioners for this measure. Their
true interests we'll as those of the debtor require
its adoption.
Another strong for the adoption of this mea-
is found in the fact, that the Loco.ocos in Con-
grsss (oih honorable erceptions) almost to
man opposed to it, No better evidence can exist than
this to prove the beneficial effect of such law for
whatever action of the present majority in Congress
carries relief 10 the People, brings destruction to the
party out of power.