The daily Madisonian. [volume] (Washington City [i.e. Washington, D.C.]) 1841-1845, 1842-01-29
Tmemtp=SeDrmth Congress.
SECOND SESSION
IN SENATE,
FRIDAY, January %, 1912.

Mr.. BUCHANAN presented memorial from ma
nutacturers of iron residing in Philadelphia stating
that nothing short Of the tariff of 1889 would be ade'
auae for the protection of that article from foreign
competition.
rails the greater part ofthem fiom the State of New
York demonstrating against postponement, repeal,
or amendment ofthe Bankrupt law
Mr.. WRIGHT presented two petitions-one from
Niagara county, the other from Tompkins county, in
the State of New YORK, praying Tor repeal VI the
Bankrupt law.
Mr. WOODBRIDGE presented petitions from
Toledo, Ohio, and Detroit, Michigan demonstrating
against repeal ofthe Bankrupt law.
Mr. PRENTISS, from the Committee on Patents
and the Patent Office reported bill for the relief of
Charles M. Keller
Mr. SMITH, of Indiana, from the Committee on
Public Lands reported bill for the relief of the heirs
of Archibald Parker, soldier OF the late war also,
bill directing military land warrants to be issued TO
the heirs of General Du Portal and Brgadier General
Armand and others.
Mr.. CHOATE, from the Committeeon Foreign
Relations reported Till to satisfy claimants for
French spoliatons committed on their commerce prior
to 1901 NJ
Mr. GRAHAM introduced bill making an APP
preparation to reopen Roanoke inlet.
MIR. SMITH, of Indiana, introduced bill in rela-
ton to the navigation of Galena and Wisconsin ri
yers; bill for the protection OF the commerce OF
Lake Michigan in the Territory of Wisconsin, and
bill to amend the act establishing the Territorial
Government of Wisconsin, which were severally
read first and second time.
THE BANKRUPT LAW
Mr. CLAY presented memorials from Pennsylva-
MA Ohio and New York, demonstrating against a
repeal of the Bankrupt law, and expressed the hope
that the debate upon this subject would terminate to
day. He said that the power to establish system of
Bankruptcy was expressly granted in the Consttu-
ton pon the condition only that the law should be
the mott w q
in making this grant, that the creditor and debtor
in one portion of the Union should be placed upon the
same footing with those ofanother He would not speak
with regard to the retroactive or prospective opera
ton of bankrupt law butt might not be improper to
remark that the anciens, in times OF calamity and
distress spunged the pecuniary obligations OF the UNI
fortunate debtor and passed other measures Tor his
relief There was high obligation on the part of
the General Government to perform the duty grow
ing out of the investment Of the power to establish
uniform system of bankruptcy. Was it supposed
that the commercial States would ever have consent
ed to invest in Congress this power, II they had sup
posed that it would have remained dead letter in
the Constitutions No they conceived that Congress
would exercise it, and pass bankrupt law uniform
in its operation throughout the Union. The Consti
tuition aggregate OF power, OF which the states
stripped themselves, and vested IT IN the General Go
vernment for the general good OF the whole; and with
this view the power to regulate commerce was eXer-
cised for the benefit of the navigating interest which
was enjoyed by but few of the States and so with
other powersi and this the case too, with regard
to the power to establish uniform system of
bankruptcy, few States only beng interested
in the exercise of it. But 1t was the duty of
Congress to examine into the interests OF all the
States IT, for example, in some States, there was
slight interest adverse feeling, and IN other
States vital interest, what ought to be done The
Union was family of States and their fraternal al
fections and their harmony could only be preserved
by mutual concession. Therefore, if any man be-
eved that particular measure would lntiict partial
injury on his own State, he would content himself
with the reflection that II demanded by the pecu-
liar interests of the other States Under these views,
then of the slight interests on hand, and OF great
interests pon the other it seemed to him that Con-
gress was bound egslate wthoutregard to section
al divisions but for the entire country lhe states
tied their own hands, that Congress might act; but,
il would not act the hands of the States ought to be
united About twenty years ago, when state oil
things similar to the present existed, he took the
ground in the House Of Representatives that Congress
ought to exercise the power to establish Bank
rupt law or surrender 1t; and two years ago,
when his late colleague MIR. CRITTENpEN) intro
duced a bill of that character, he voted for 1t !;
not because his own State was particularly
interested Che did not believe that five hundred of the
citizens of Kentucky would avail themselves OF IT.
but for the that, in looking TO the interest of
the whole it necessary to make slight sacrifice
for their benefit When they met at the extra ses-
sion, they matured series of measures, which were
TO effect different purposes in the Union, and in die-
rent degrees and gentlemen who voted for these
measures, voted for them as whole system, taking
the part least dsadyantageous to their own STATES,
because the system carried with it the relief which
they desired to obtain. That the reason why he
voted for the Bankrupt law lie considered the bll
proposing to repeal this act as sort OF entering
wedge to the whole system to be followed up ny ue
measure of the Senator from Missouri, ME- Linn
TO repeal the Land Distribution law lie dld not
complain of this, as some gentlemen dsapproyed OF
the proceedings of the extra sessions but he called
upon those who had concurred IN this system and
would inquire whether they were ready TO undo The
blessed acts which were then passed, and strip
the people Of the United States of these benefits 7
His colleague Mr. Morehcad) thought that he
(Mr Moreheat) might vote tor the repeal; but he
Mr.. Clay,) with knowledge Of the magnanimty
and the ustice of the people Of Kentucky knew well