The Charlotte journal. [volume] (Charlotte, N.C.) 1835-1851, 1842-02-24


peal. My most sanguine aniicipatIons Of
The beneficial effects OF this law have fallen
far shor, of this. With all my disposition
to think well OF it, have never been able
to ascribc TO il such potency as this. Con.
slider what It Is which this proposition as
serls, The creditors Of the various bank
fupts throughout the United States, armed
with oil the authority of existing laws, and
IN the exercise Of their own unceasing ugl
lance, have still suffered one hundred mil
ions of their debtors property 10 elade
heir grasp. II exists, but as TO them Il IS
ds though ii did not, since they cannot
reach it. 1t is theirs, but they cannot find
II. Well, the bankrupt law is put into o.
Grafton. instantly, as If by magic, this
vast amount Of properly is evoked from It's
hiding places By the searching potent in!lu,
ence of that law; and though II will subject
the solvent portioa of the community to
some Inconvenience to buy il, yet, nesesihe
less, II is sold aud distributed among the
creditors Of the bankrupis. This IS what
the Senator from South Carolina MI. Gal.
houn) says will occur. Surely, sir, when
he considers how vast a benefit to the credI
tor interest will b. affected by this law, be
himself being the Judge Of It's capacity 10 Ell
feet il !, he will unite With US in sustaining Il.
Al least We may now see why these long
headed and clear ST. hted credtorS ~ New
York aud Massachusetts, are so urgent to
prevent lis repeal. The prize is too seopt'
ing. Oae hundred millions of bankrupt
property is almost within their gasp.
Strcnfh point. The remaining objection
to this law is tha; il is perpetual. Sir, sad
Dir. BERRIEN, that is very great mistake )
uolhing hunanis Perpetual, especially moth
ing Is So, which may be subjected TO the
acton Of an American Congress. II this
bill passes, 1t may be safely affirmed that
uothlng is stable which is subject 10 that
action. The bankrup, law, therefore, is not
perpetual. Its duration is not limited ) and
.his, while i. leaves 1t liable to be repealed,
siill serves to impart TO II character OF sta
The trainers Of the Constitution looked to
bankrupt law Us permanent, par 1t our
system Of Jurisprudence. the writer's Of
the Eederallsi, 10 40 elaborate work, de
signed 10 discuss and 10 ylnJlcate all the
questionable part OF the Constitution, seem
10 have been so coufden, that The eSpedI
cncy OF bankrup, law would he universal
~ acknowledged TINT they dismiss the
whole subject with a single sentence. IN
which this conviction is expressed. The
difficulties which we now experience 10 set
ting this question, arise chiefly from The
fact that &c have not heretofore bad per.
manent bankrupt Jaw. Ii the act OF lsOO,
with such amendments as experience would
bave suggested, had been permitted 10 opc'
rate 10 the present day, the beneficial ell
lects Of the system would have been uu,ser-
sally acknowledged. |! carried on lis face
The do~bt which vas expressed Of the pro.
priety Of ITS euaclmeh. by tho limitation
which was annexed to it, ond SO was not
permitted even TO run cut the brief career
which had been allotted 20 it. Ii was desl'
rable TO avoid like result 10 the Law of tae
last session, and, happily, It was avoided
la my view, sir, this IS ono Of the exceilen-
cles Of that law.
sir. President, said Mr.. BerTien, if The
which have urged, be not
suliicieal 10 weigh With senators whose
views have been heretofore uulavorable 20
IBIS measure, have yet Que last appeal
WHICH hope may avail with them. We
are called to day TO The performance OF a
duty which the Constitution has peculiarly
and emphalcaIly confined % lois boay.
Aiter years o. elaboration in ttHs Cham
Der, the Senate, 10 obedience 10 is consii
,u.lonaI duty, adopted a, the last session u
measure Of great public policy, and OF large
but discriminating benovolcuce. By the
concurrence Of the other branch OF the
National Legislature, and the approval Of
the President, Il became the law Of the
land, and was heraded throughout the L
mon as the messenger Of glad lIdIngs Of
great Joy to vas, multItudes Of our fellow.
citizens, Of all classes aud conditions, Incsu.
ding are - IT'S decrepinde, and manhood in
us ylgor, and infancy 10 It's helplessness.
The moment when, by its own provisions,
rs operation is 10 commence, is drawing
near. The calends Of February are upon
Us. No change Of public opinion has been
manifested to US, unless II be that which
mas converted the opponents Of the measure
INTO lis advocates, and extended its adyoca
cy from the commercial to various Other
classes Of the community. The creditor
luteFes,s, men Of capital extensively cuga.
ged IN business, the ptoprieiofs Of millions
urge il as measure OF great policy, emi
aeally conducive 10 the interests Of credit.
"rs 4 countless multitude Of unfortunate
. debtors beseech you not to withhold the
relief which this law bad rendered 10 them.
they impore you to break the chains
which years of suffering have only render.
ed more CALLING. They call upon you to
restore them 10 their wives, 10 their lille
ones, TO themselves, TO the privileges Of A.
neucan citizens, 10 the free and unfeltered
use Of those energies which God has given
them. AT this moment an act not miro
duced in the ordinary mode, nor considered
with the ordinary forms Of legislation, j:
sent 10 US from the other branch Of lie Ma