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

We congratulate the counlry-the whole
country-on the prospect Of speedy establish
ment Of Bankrupt law. The bill passed the
Senate on Saturday, and il is confidently be-
ieyed that il will pass the House. We con
graduate the North and the South, the East
and the West; for il is national measure,
which will be beneficial 10 every section Of the
Union. We congratulate all political parties,
for all will share alike ia is benefcent operation
We congratulate both debtor and creditor, for II
is designed for the benefit and advantage OF
both
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 10 il, 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
The details Of the bill were matured by the
Senate at former session, after great deal Of
discussion and critical examination Of its pTm.
ciples. IL Is, perhaps, as perfect now as calm,
considerate legislation, uninfuenced by party
feeling, can well make il. 1t is Difficult, on such
a subject TO make the details such as 10 meet
the views of all. II claims, therefore, lutte
yielding Of opinion, and spirit Of harmony and
compromise. That il will receive il in ts fur
Their progress we do not doubt. Ii certainly viii
from its friends.
On the final passage in the Senate. Mr. TALL
MApoE, Mr.. BERRIEN, and Mr.. WALKER, ably
and eloquently INDICATED its principles. The
frs, addressed the Senate in defence Of the mea-
sure generally. The two latter gentlemen
spoke in reply to objections made by MI, Br-
cHANAN.
Mr.. TALLMADGE estimated that there were
half million of American citizens who would
come under its provisions debtors, and that
there Were not less.than two millions who would
share in its benefcence. Ii comes with healing
in its wings. What other act Of Congress did
ever bring with it such an amount of blessing
and benefaction We ask attention TO this
very able and lucid speech, which will be found
in another column. 1t is due 10 the opinions OF
a Senator who has devoted himself TO the public
service-it will enlighten many mind, and dis
sipats many prejudice.
Is it an objection TO the law that in particular
instances it may be attended with evils, and
that the good it will produce will not be wholly
without alloy ? What important law was ever
enacted, TO the favorable and just operation of
which there was not some exception Govern
men itself, in its best form, has its evils. Its
the predomlnatng good that is sought to be at
tanned BY all laws,
This is the last struggle Of the unfortunate
debtor. If he fails now, his bondage is hopeless
and eternal! Hopeless, We trust not. When
he shall learn who are his friends, and who his
foes, he will then make one further effort: and
who, that himself prizes liberty, can doubt what
price the oppressed debtor will next offer for his
emancipation.