Lincoln telegraph. [volume] (Bath, Me.) 1836-1846, 1842-02-10
my hear, He fell boiling in bis hands the por
traits of his wife and two children.
So persisted, at the age of 4S, this extraordinary
man.
REMARKS OF MR.. MORSE.


his numerous friends, and those particularly who
feel an interest in the subject:
Mr.. MoRsE said he considered the principles in
volved in the question under elaboration, Of too
much consequence to be passed upon in silence
he therefore begged the indulgence of the House,
while he offered few reasons in support Of the
motion Of the gentleman from Jefferson. The
question of uniform system of bankruptcy, was
one of absorbing interest to the people Of the
whole Union. No question had come before Con-
gress, for many years, which so much feeling had
been manifested. Since repeal had been agitated
at Washington, petitions, and memorials had
poured into Congress from all parts of the coun-
try. Those petitions and memorials nearly all
spoke in voice, and that voice was against
the repeal of the Bankrupt Law passed at the
extra session. Politicians had not yet succeeded
in dragging this question into the whirlpool OF
party politics. Among the people, men OF all
parties, of all conditions and classes gave it their
support And yet, he said, Notwithstanding the
magnitude of the subject, resolutions repeating
the resolution of 1910, had been pushed through
with almost lightning speed, without affordng US
brief moment to examine their principles and
understand what were adopting.
What was, now he asked, the position of the
Hou,e in relation 10 bankruptlaw' Two years
ago resolutions were adopted by the Legislature
of tn State, in favor of a uniform system of bank
ruptsy, and requested our Senators in Congress,
to aid in the passage eff such law Those reso-
lutions say nothing about the kind OF law that
| should be passed, but simply express an opinion
in fivor of an uniform system of bankruptcy
Resolutions were brought in here on Saturday
recinding the resolutions of lS40. These resolu-
TORS were appended to long preamble, pretend
ing TO speak in the Of the people OF Name
In hs preamble we are told that the people OF
this State twill approve off law, which provides
for compulsory application to corporations, as
well as individuals" After one days discussion
this preamble, the foundation upon which the res
oIutions stood, which pretended to give the reas-
ons why the resolutions should be adopted, was
Withdrawn Now sir, what has been the express
sion of this House Has it been in favor of ex-
| tending the bankrupt law to corporations, or a
| gainst any uniform system OF bankruptcy? Most
| clearly, Notwithstanding the declarations of gen.
tlemen to the contrary, SO far as any expression
can be extracted from singular a proceeding.
it's final expression has been not only against the
bankrupt law of the extra session, but against
bankrupt law fany kind If any one here thinks
it the humble duty OF our Senators IN Congress,
to follow in the wake OF the Maine Legislature,
what course does he think it the duty OF those
Senators TO take after recnding the resolutions
of 1870. Surely, if their course is to be governed
by action here, and that action extend no further
on this subject, than recinding simple declara'
lion in favor of uniform system OF bankruptcy,
they will at least consider themselves requested
TO 20 against such system But if on the other
hand as rentemen tell us, and shown on
| Saturday, by the vote on the amendment offered
by the gentleman from Augusta, majority here
are in favor of bankrupt law that will operate
on corporations, why take back the expression OF
such an opinion why tear every thing that had
any meaning from your resolutions why not
speak out in plain language that can be under
stood /? .fr
| The passage of a general bankrupt law to act
compulsorily upon the institutions of the States,
is matter at least of very doubtful expediency,
and by many of the first men of the country is
thought to be decidedly unconstitutional He
hardly thought it was the intention of the fra
mers Of the constitution to place in the hands OF
the general government almost unlimited power
over institutions that brought into existence
nourshed and governed by the States. The gen
| eral government must declare the act that shall
bring corporations within the rach of bankrupt
! law. They might be so narrowed down,th sphere
of their operations limited as to drive them ont
of existence, either by voluntary winding up Of
their affairs, by bringing them within the grasp
of the law. Some future hard money Congress
may adopt the recommendation Of senator Strange
| of North Carolina, that no bank shall Issue
| paper than It has specie in its vaults, or of Mr..
Walker of Mississippi, who declared on the floor
of the United States Senate, that he wished to
bring all banks under the operation of bankrupt
law, because he wished to wipe them all out Of
existence and free the country from the curse Of
paper money. 1t is doubtful whether the States
surrendered the power of creating and controlling
banks and other corporations The States make
! such laws as they deem necessary for their gov
eminent; they have full power over them they
declare the crime or error that shall strike them
1