Southport telegraph. [volume] (Southport, W.T. [i.e. Kenosha, Wis.]) 1840-1850, 1842-02-15
La TIE AND IMPORT ANT FROM
IVA SIZING TON-REFUSAL OF
THE SENATE TO REPEAL
THE BANKRUPT LAW.
Correspondence Of the Baltimore american
WASHINGTON, Jan. %, 1912.
United ST4TES SEN4TE
UNITED STATES SENATE.

five in all, and all demonstrating against
the repeal, amendment, or postponement
OF the General Bankrupt Law.
Mr.. Wright presented a memorial
handed 10 him by member of the House
in favor OF repeal Of the Bankrupt Law
Also one of the same character presented
to himself.
Mr.. Archer presented memorials upon
1.-The same subject from Virginia.
Mr.. Woodbridge presented two memo
rails against the repeal of the Bankrupt
Law, from Toledo. Mr.. w. also pre-
scented several remonstrances from Mich
igan. MIR. w. took occasion to remark
that he had learned by the newspapers
received last night, that the Legislature Of
Michigan had passed resolutions remon-
strating against any interference with the
Law. The great majority of the People
held the same opinions, the Senator said,
that their representatives had expressed.
The committee on Foreign Relations
reported bill for French spoilations prior
to 1900. The bill had first and second
eadng.
Several bills in relation TO the Lake and
western commerce were reported on leave
and large number of private bills also.
Before the orders Of the day were call
ed, Mr.. Clay presented several memorials
demonstrating against any interference
with the Bankrupt Law.
Mr.. Clay took occasion 10 express his
views in brief terms in regard to the
Bankrupt question and the manner in
which it had been passed at the Extra
Sessionof Congress. The Bankrupt Law
was one Of a series Of measures great and
important to all sections Of the country,
but having a different degree of impor-
lance TO each. ..~
In Kentucky, Mr.. Clay said, Bank
rupt Law was not popular, but he much
mistook the feeling, pride, and patriotism
Of his constituents, if, when they properly
understood the origin OF this measure,
they would advocate its rejection by Con-
gress. Ii was one Of the beautiful, nalur-
al and necessary features of our Constitu-
ton, ii was designed for the common
good of all classes of persons. 1t was
made up Of mutual concession. And why
had the States surrendered individual in
terests For what reason but the OBJ
tanning Of common benft ? The inter-
ests of one State were not always the in
terests of another.
Mr. Clay said to pass uniform laws up
on the subject Of Bankruptcy rested alone
with the General Government Congress
was bound TO exercise the power or to
surrender il back to the States. II should
unite their hands and leave them as free
to act as they would have been if their
power had not been surrendered.
Mr.. Clay said, that, the Bankrupt Bill
was but one of series of measures adop-
ted at the Extra Session Of Congress-
The States of New York, Maine and Mi
chigan needed this bill 1t was absolutely
necessary for them and others. Not so
for Kentucky; but Kentucky remembered
that her favorite measures, Bank of the
United States and Land Bill were favor
ably passed upon bV Congress.
The Loan Bill passed for the general
good Of the Government. 1t was but right
and proper that all intere is Of the coun-
try should be regarded, and This had been
done at the extra session Of Congress in
the adoption Of that splendid system Of
measures which would make the Extra
Session memorable in all time to come.--
OF the bill itself Mr.. Clay frankly avowed
himself friend. Twenty years ago he
had contended in the House Of Represen-
tatives, that Bankrupt Bill should either
be passed or the power to establish such
law surrendered to the States.
There were no reasons for adopting the
law in 1871, which were not two fold
stronger now. The Government was
more distressed than it was, and the fu-
ture afforded no hope Of immediate relief
Ii is not true either as had been alleged
that the Bank rupt Bill afforded no relief
or protection to creditors. Such was not
the fact; they were protected as much as
any class Of persons could wish to be who
were not anxious to have the soul of his
debtor, but the souls Of his wife and those
of his family.
The conclusion Of Mr.. Clay's few re-
marks were most impressive. He said he
could not vote foi he repeal Of this law if
the Senate could. have not, said he, the
heart 20 DO it, nor have the hand TO do
it. cannot do it. | will not do il.
The memorials were then presented by
Mr.. Clay, and the Senate proceeded to
the consideration Of the unfinished bust
ness Of yesterday.
Orders Of the Day.
The unfinished business of yeste rday,
being the bill from lhe House Of Repre-
sentatives to repeal the Bankrupt Law,
was called up as the unfinished business
OF yesterday. Mr.. Benton was entitled to
the floor in continuation Of bis speech be-
gun yesterday. Mr.. B. opposed the Law
with the greatest vehemence, and conten-
ded mainly TO prove the position he laid
down, that the law was neither useful nor