New-York tribune., 1842-01-07
The Bankrupt act.

course as political Editor, TO tender 10 YOU .'''
,hanks for the stand so worthy OF PhlianthroPsl'
which von have taken with regard to the bankrupt
Ac, In SO doing, he echoes the voice OF hall
million of unfortunate companions.
When the late Session OF Congress passed an get
! restoring TO freedom FIVE hundred thousand slaves
of mistortr,t, it did honor to lis own humanity;
il conferred nonor upon the age in which it Was
held and it opened to struggling women and nep-
less children, who almost taintlng under their
burden Of misery, glimpse of hope and happiness.
Shall the hand which stretched save be
withdrawn VIII mea look on unmoved while the
poor wretches are sinking, and stand quietly BY
while the black waters Of despair are gathering
over their heads2 Forbid it Mercy Forbid 1t
Justice!
Who are they tha: wish 10 destroy this deed o
Haman.ty7 and what are their motives s'BEs-
Tss BUcaANAs and their party followers, who
70 blindlv after their leaders and would not finch
if the object TO be DESTROYED were the Religion of
Christ; fe1c creditors and class OF men who
oppose every thing which tends TO amelioraie
the condition o: the poor. The motive OF the
politicians s evident; they are unwilling that
| Wing Administration should have the henor Of
enac,ing law tha, will 90 farther than all others
| toward restoring sound state Of things the:
see that within year from the taking effect OF
BANKRUPT Law every nan would know The
actual condition of his aiaira, and be able 10 shape
his course accordingly; that the energy and indus
try of half million Of freedmen, ncrved by Hope
and cautioned by Experience, would give revival
to business and to enterprze that would bring
about renewal of prosperity, and blast their hopes
of riding into power over the groans oi an agoniz'd
community The motives OF those creditors who
oppose The Ac, is net percepubie; and, In
deed, it is hard to see what motive they can have.
They will all tell you that they are willing to re-
lease any debtor who gives up all his property,
sc:tioul Bankrupt act. Why then unwilling TO
release him acith They say they are often de-
ceived by those with whom they compromise, and
that the released debtor starts in business again
with renewed advantages. Do they rot sac that
the Bankrupt Law offers safeguard agalnstthls,
which can be derived from other source for
the instant they can detect deception, matter
how long he has been released, the debtor is III
s,anty placed in their power. They harp upon
the EnCOn5tltullOnduty VI le" pul tiicN io9c
sigh, of the life and soul of our Constitution
FREEDOM AND EoUALlTY TO ALL. And who caa
for u moment suppose that ii these same parsons
should by the accidents OF trade become oahkfuPts'
they would then think it unconstitutional "hat
ia tho value of an opinion that is governed by sell
interest? The truth is that nearly every opponent
of the law has some object of private malice whom
he wishes TO crush to the earth that he may sloat
with tiendish pleasure over his suitcrings There
are also some Who having gathered together in
the last few years large amount OF worthless OF
nearly worthless notes, take kind OF misery
pleasure in contemplating them, and by The aid oi
their figures imagining themselves rich; they
dread the dispslling of this illusion The remain
ing class of opponents have motive and an object
equally base they wish rivals, and would pre-
fer to see poor starving, rather than see
aim ~ industry and e1er,ion taking stand by
their side, or station above them.
The necessity and humanity of u General Bank
rupl Law have been too often shown, and OF
themselves too evident to be made subject OF
discussion at this late day. Nearly every State in
the Union has law of the kind, but Of compare
lively little use from its partial action.
The question, before the passage of the act was
fairly before the people, and they decided in lis ia
vor. Why should there have been change IN
public opinion! The law has not been in force
no evil. have resulted from its action. Are the
people SO incompetent of Judging WHAT'S for their
own interest! No; the question fdir ar
gued and settled ana there has beenno change OF
opinion. But there may be change in dlSSatlS-
FED politicians, vino are unwilling that any popu-
lar measure should emanu,e from tue present
jority in Congress.
viii President Tyler. after signing n bill which,
according to his oath he must have considered
cons,ituliona in few months place his signature
to repeal of it, the ground of its unconstitu-
tonalitv, and thus ut stroke acknowledge HIM
self to have been mistaken, aud give effect TO the
nsidious devices Of his enemies, and, more than
all, the enemies OF freedom Will the " hlss
members of Congress- who are virtually pledged
TO support this measure, and who obtained their
places by the cotes of bankrupts, forfeit their ho-
nor and the interests OF their country for the sake
e gratifying private pique If 50, God forgive
them And for the opponents of this benetcent
act-oh that, as they retire i'll the darkness OF The
nigh 10 their luxurious coucueS theTe woaiu lise
up before them the images of the poor, unfortunate
debtors, between whom and Liberty there knve
changed the iron bars of !os,hsome cell, and of
their weeping wives, surrounded with helpless,
starving children That suck may be their nightly
vision until they see the error Of their ways is the
prayer of y oaNhkuf''
IowA-The Territorial Council convened on
the 9th ult and Gov. Chambers communicated
N1asaana uar,,,l,, 1rninn an ary snnlicafnn