Daily Richmond Whig. [volume] (Richmond, Va.) 1840-1842, 1842-01-25
TmusspAr Jan. 90. Isis.
IN SENATE

IN SENATE.
MIR PRESTON IN presenting memorials for tie
repeal CO mod,hrsiiou Of ,hc b'nkru91 Las, saij
he was deeply impressed wth the notion that the
repeal OF 4 law presented very diicrcnt fscn
the enactment Of a law. IL was pepper that there
should be permiuency end fix dness IN the laws OF
the county, and imp Cper that n law should be re
pealcd SIX months after its enactment. tie would
have no difheu y IN reference 10 the bankrupt law
# his objections were not of very dep roo'e ed
character In voting, therefore foe the repeal OF the
law, rs hc should when Il came up, would be under
the impression that the Law was bAd IN itself. The
repeal og essential MOD h,1tion of the law. The
passage, IN some sort. was notice to the people
wishing Toe the dement's OF this bill that the law should
De amended. II seemed 10 him wrong, however.
t10 at the very mument the cup offered the ir
lips, Il should thea bo dSshcj tom them, was
proposed m the repeal of che law. In the character
otthe act alone could he reconcile it To sense OF
duty 20 Do this. But he ttlt hi selt imTeiious'v
bound 20 vote for the repeal He separated himse Il
with great reluctance from his friends Of The extra
essio1 OF Congress upon Ihisques,ion. But sincs
then, his oppni ION to the uetsurc had been m ;dc
stronger and wider by the subsequent events viii h
had interviewed. Ills own Stare was unanimous
- airst the law, and t-cre class party
these m favor Of Il. t agricultural pope. too,
who formed the mci1ri'y IN all sections Of the
country, were opposed 10 the Jaw. We we're. rs
WAS well known, 4 rural people. To this class
o. PERSONS a bankrupt law woud never he advln-
them.
The general proposition /. as bed been stated. A
bankrupt law vas of 4 Commercial character. orr
snally confined 20 traders, 10 proven; cS,raordi-
nary transactions Of trade. IL was made for the
h,ncf, ofjhe creditor, nud intended 20 I've one Incl
t,nia!'y ben Zeal % ;hc debtor interests o. the
~. This tantrupi policy, therefore, IN has
opinicn, belonged - c0nmcrcal community, and
could not operate bcpehciaily to any others. The
classes O. people, ~ interest, ~ tins country t.ali
Nc. p Nte, 10 certain extent, divided scciiOuslly.
The nus.hcm portion wese mO'e OF commercial
people, 'hc southern n'sc agricultural IN hcir en-.
poynen.s sud interests; and thus we b,oame SIC
tiona ly divided uron IN btnkrup law.
confess yo Tie senate (si,d Mr. P.) that 10
itmen', Tor ono, th7' this power IS conferred upon
ms Governmcni ! wish % vas coarrrrd upon the
States cX .usvcly, mi d1uHt whether this Govern
ncnt should enact any bankrupt system whatever.
wol'i not say that It was impossible TO make 4
p,rulr,n. 'iw a p-os1ec I've character. or tins
hsv, ny jo1of,; au, what u,7r 70 say Is TIN;
any tinkrIn. tu. is tifjcuii, tlnscrnus, and De.
cl.e 10 c> abisr. Tho seniiucr. % this country
WAS Gvcrse 20 such measure Mr. 4. also seemed
10 think. lie would, unde- present convictions, be
VI ius 20 surrender ths wko'c power TO the States
themselves, regarding tas most properly belonging
20 ihcn. a deep y convinced that the Jaw v ii,
no, work wei, ls7lt Ar p I am ~: ,ns-nsbl,
the general eub1rass mems fihs last four wears
In ~ ;la. they hi-c resulted fsau The m,sconi ct
# the G1yerure"' for t~e last four years passive
Or active. Tie Government Ind been par'ierps
e'i-li1;' m the wi'tor uncs Of The People. Never
tntl 80, said he have settled Zee rs Of aversion
of leg co. any kut ly Government scs if,-ef fe-n,
hstwc % m,n a-- m7n. Th.s hl VISA relief sys
ts0, auI 90 was better - submit to 'he 0reseG;
temporary tv tHau 20 irfeft re with the private
M Ir Df tn, People Of the United States. The
St1-ts tcns-.v-s were much more highly rcd y
mana -c tl-s del ,l.c matters Than lte Uuite States
yys-. l0t, -c;ei.rc as o.; present advised. f,al SIR
Pr ! 1m more opposed - the bankrupt uiI now
'18n vas =; lie ezra session Of Cuasrssl ,yhen
voted against D..
Nj BUCHANAN said he wishca to eorree an
erroneous Impression which prevailed throughout
'Ae cou7.-y. J. supp s.l thlt the STA cs could
n1t rr>s -fn -si -anhr-p; Avs. The WIS no
pm n better seq .-l On .lw an laat the States
cnI PASS "rrkrH laws r .he relief OF Oh Dr. own
r.. z-ni. ] The ''r, ten, I'D another S.a'o. in
trs acrsna--c uff tri' M from Dos IeUtor -cle.s-
ei 'r- Gen. 'r .fs cf-n ~ ,no.1et St-e. Ia
r7yI e. .t t- aat res vei liy.I- No, cou ne ar
res Gle ic1''r. TIE power .. tie Gtne-iI Govern
m-r' need oily he Nerc sd IN rosre two cases
o. 1.Hs-, 'lr 90 avs were ciicien. enough
go NJ -- relief N,r &. saI th.t ne had sl,d ihus
''--f c--'e t.r- was mu"l cou q as 20 tie cx.
--lt o. -9~e- rs.i-i -y ne S.o.s.
VIZ EEtSiLN took ccr1s.o1 20 reply % NJ
3 -cafrl-. very c-ssF. Tie said that what WIS
f1.. rr-a-t '' 'r- relief canned by the SENATOR
te- l-1-sF 500 p, w-s ..-; o4; S.rts avs DID
--- ne e case de- -rci by the f-sr-ers OF
Clr-. -.an- States could not pass Uniform
reer- ~. Nfc7 ;fe 5e'tor passed his own
>---e .- -c-~- -c-e1 ,o 'tc action of other
--- f-- Vi =. sad be- rif not propose todz
er .--. 20 now, .-t i1 th. course Of
-7z-1 b. Ea-.- become h.s tlfy . express
ID mi r-c7 -.--- ans other points.
-- ---- ANAN -s- -ra. S.-.= Lc-ts'1,s-.s
-- .- rom -ei-1sr --,iv- c5r. reefs,
tr l7 f-y ----7- -1 -r1t-s-ts Dr. fl= St.tes rs
1r --T could prospective contracts. Tie 70.
-l-. ne senator t-1E le5rsra, therefore, .o,,.d
.e % 1st '1 -l- wy, '-l, % ne creditor ms no,
---7-s- 1s ~ --lc, shea not 5ei5rsios 20 the