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

We congratulate the Countrywide whole
country-on the prospect of speedy establish.
ment of Bankrupt law. The bill passed the
Senate on Saturday, and it is confidently be-
lieved that il will pass the House. We con-
graduate the North and the South, the East
and the West; for it is national measure,
which will be beneficial to every section of the
Union. We congratulate all political parties,
for all will share alike in its benefcent operation.
We congratulate both debtor and creditor, for it
is designed for the benefit and advantage of
both. ........ .. s.........:. ....a ~. ., fa
A year since, the creditor portion of the COM
munity looked upon the measure with GOODNESS
and indifference, in some instances with aver
sion.' We are glad TO learn, from various quar-
tiers, that a further consideration of the subject
has not only reconciled them to it, but made
them generally its warm advocates. We see
gentlemen here of great business intelligence
and responsibility, representing creditor inte-
rests, urging its speedy passage in their be-
half ... ..,.. ~. ...... ..,5. .. .. ....
The details of the bill were matured by the
Senate at a former session, after great deal Of
discussion and critical examination of its prin-
ciples. 1t is, perhaps, as perfect now as calm,
considerable Legislation, uninHuenced by party
feeling, can well make it. 1t is difficult on such
a subject to make the details such as to meet
the views of all. 1t claims, therefore, little
yielding of opinion, and spirit Of. harmony and
compromise. That it will receive it in its fur
ther progress we do not doubt. 1t certainly will
from its friends.
On the final passage in the Senate, Mr.. TALL
MADGE, Mr.. BERRIEN, and Mr.. WALKER, ably
and eloquently indicated its principles. The
first addressed the Senate in defence of the mea-
sure generally. The two latter gentlemen
spoke in reply to objections made by Mr.. Bu-
cHANAN. '1 -t.@&1
i Mr.. TALLMADGE estimated that there were
half million of American citizens who would
come under its provisions as debtors, and thai
i there were not less than two millions who would
share in its bene6cence. 1t comes with healing
in its wings. What other act of Congress die
ever bring with it such an amount of blessing
and benefaction! We ask attention to th
very able and lucid speech, which will be fount
in another column. 1t is due to the opinions o
a Senator who has devoted himself to the public
service-it will enlighten many mind, and dis
sipate many prejudice. a5.a @ ..:.,l3
Is it an objection to the law, that in particula
instances it may be attended with evils, an,
that the good it will produce will not be who'll,
without alloy2 What important law was eve
enacted, to the favorable and just operation o
which there was not some exception? Govern
ment itself, in its best form, has its evils. 1t
the predominating good that is sought to be al
tanned by all laws. ~-...t.....
This is the last struggle of the unfortunat
debtor. If he fails now, his bondage is hopeless
and eternal! Hopelessl We trust not. Whel
he shall learn who are his friends, and who hi
foes, he will then make one further effort: ant
who, that himself prizes liberty, can doubt wha
price the oppressed debtor will next offer for hi
emancipation! e h"n "t ##