The daily Madisonian. [volume] (Washington City [i.e. Washington, D.C.]) 1841-1845, 1842-01-27
gwentp=Seoemth Congress.
SECOND SESSION
IN SENATE,
WEpNEsDAY, January 20, 10


Mr.. SMITH of Indiana, presented two petitions
from that State praying for repeal oil the Bankrupt
law He desired to say that he could not regulate
his course by the views of the petitioners he wish
ed 10 see permanency in the legislation of Congress-
and he disapproved of holding out hopes to the dis
tressed it were to-day, and Withdrawing them up
Nh. HUNTINGTON presented memorial from
Hartford Connecticut setting forth many objections
to the Bankrupt law.
MIR. WRIGHT presented petition from the State
OF New York, asking for repeal OF the Bankrupt
Mr. BUCHANAN presented two petitions from the
city of Philadelphia asking for certain amendments 70
the Bankrupt law and, if they should not De made
that the act be repealed. ,,.
Mr. ALLEN presented petition from Licking
county Ohio, asking for certain amendments 10, OF
repeal Of the Bankrup, law. SO.
Mr. WOODBRIDGE presented a pe'.ton rom
citizens Of Michigan asking for repeal oil the Bank
iup Ms sa HUNTINGTON, EVANS, BERRIEN,
MANGUM, WRIGHT. WALkER, TALL-
BAYARD and CLAY, presented circumstances
against a postponement or repeal OF the Bankrupt
law. .. "a.
Mr. BUCHANAN presented the petition OF clt-
zens of Pttsburg in the State OF rennsy wanna, pray
ing that Congress may arrest the compromise act Oh
1870 and take into consideration the SUBJECT OF as
terminating duties with view to the protection OF
home industry
sew PRAYING for a specific duty upon window glass. 10
protect the manufacturers of that article from foreign
MI. PORTER presented petition from citizens of
Michigan, praying for haroor at the mou'N Oh nal
Mr. CHOATE introduced a bill for the relief OF
Thomas Henry Lardner and Others directors OF an
association called the New England and Mississippi
Land Company; which was read hfS' ana Se'oh'
time ). =, N .
Mr. MILLER, from the Committee on the Eos.
Offie and Post Roads, reported bill for the rehef oil
Francis A. Harrison, postmaster at Paducah' IN Inc
State of Kentucky. ,
Nj MOREHEAD. from the Committee on Indian
Affairs reported bill for the relief Of Juba b. Han
cock bill fr the relief Of the heirs and legal repre-
sentatives of Nathaniel Prior, deceased, and Dill Tor
the relief of John c. Reynolds.
On the motion Of Mr. PRESTON, it was resolved
that the Secretary Of War communicate to the senate
what measures have been adopted with regard 70 me-
neurological observations at military posts, ana "heh-
er further can be adopted 10 TINS anu eoSs
tent with the service.
REPUTATION OF STATE DEBTS.
MIR. CLAY presented the resolutions of the Gene
raj Assembly Of the Commonwealth OF Kentucky,
upon the subject Of the reputation OF State debts
RE remarked that these resolutions had been passed
by the two branches of the Legislature UNANIMOUSLY
and as a consequence with the concurrence OF both
parties and as they expressed themselves very
strongly in favor of the preservation Of good ia|th
and an honest discharge of all the obligations OF the
States he had particular satisfaction in presenting
these resolutions, the sentiments were IN accor-
dance with his own.
THE SOLDIERS OF THE REVOLUTION
Mr. MOREHEAD presented the resolutions of the
Legislature of Kentucky instructng their Senators
to Introduce and endeavor to induce Congress to
pass resolution, requiring the Secretary OF war to
take steps to ascertain the number and the names OF
the soldiers of the Revolution and the times Of their
decease and when the last Of them shall have passed
away report the fact so that the President OF the
United States may issue his proclamation, liking the
manner in which the people may do honor TO the
memory of the iustrious dead.
THE BANKRUPT LAW.
The Senate resumed the consideration OF the Dill
to repeal the Bankrupt law.
Mr. BERRIEN continued his remarks upon the
sui ;ect in the of which he remarked that the
first object to stay the march of the debtor from
defrauding his creditors; secondly it was to afford
relief to the honest debtor and, thirdly to secure
rateable distribution of the property of the debtor
among his creditors and, if the intentions OF the law
should be prevalent, all these could be carried into
effect As to frauds being committed under this
act the charge would similarly apply to the land,
the revenue, and the pension laws, and number of
others and far from corruptng the public morals,
its effects would be the reverse because the debtor
knew that the discovery Of any property which he
may have refused to surrender to his creditors would
return him to his letters whereas, he looked only to
liberty and had every inducement to honesty which
could operate upon the human he art. As to the ex
pediency of the law and whether State legislation
would be adequate to the purpose, he would merely
remark that such laws, framed by the States, would
not be uniform, as required by the Constitution
besides, legislation of State could not extend
beyond its own limits, and could not affect the
debtor in an ad Looming State, whereas law framed
by Congress would operate throughout the Union
debtor after being Invested of his property in the
State in which he resided, could be made amenable
to the law in every other State; and, therefore, 1t
would be seen that there would be manifest meffl-
cheney in the operation of State legislation upon this
subject The repeal of this bill had been ad vocated,
because it would encourage wild spirit OF specula-
ton but the assertion not, in his opinion founded
in fact; and far from having this effect, 1t would
make dealings credit more secure; and It should
be remembered that bankrupt who desired to take
the benefit of the law second tme would not be
entitled to his certificate of discharge until ne paid
seyenty-fve cents in the dollar. How was 1t, them
that the spirit of speculation which Senators seemed
so much to dcprecate, would be encouraged 1T had
been said that the law perpetual; but It was not
so-nothing human was perpetual-lt was, how
ever unlimited and, if they looked into the
commentators on the Constitution, it would be
perceived that bankrupt law was intended to
be a permanent part of the jurisprudence OF the
country. If this law was permitted to continue IN
operation for five years, there would be objection
to it. The objection seemed to be urged in con-
sequence of the large number of persons who would
avail themselves of its benefits but, if an unlimited
law had been established forty years ago, and con-
tnued in operation until this time, there would not
have accumulated that large amount Of assets which
gentlemen feared might be unpropitiousy thrown into
the market
Mr.. SMITH, of Connecticut, said that seven
eighths Of the people Of that State opposed to
the Bankrupt bill as it now stood, because they con-
sdered that it retroactive and in his belief,
law retrospective in its character could be passed by
either the General or the State Governments, unless
the power claimed be derived from an express grant
of the people themselves. The Constitution prohb
tied the passage Of post facto laws and, unless
the power to pass uniform system of bankruptcy be-
slowed the right to pass retroactive law the power to
do so else existed But it had been said that the
L.l LII lLat( q h. 4