The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1842-01-14

~as strong i.elng in the minds Of larg. number OF
persons that the law ought be constructed as to i-
eiude every kind and denomin atoms OF Banking Cor
norations And would be impossible to reconcile all
'he various and conflicting opinions and interests con
nected with this subject therefore thought BEST to
adopt the resolutions that had been prepared and
scented to the meeting For himself he considered the
resolutions which had been offered as embody ns his
sentiments; and Of the benefits be derived from the
contemplated Bankrupt Law, its powerful
tive influence regarded fraud. But still he thought
tinns ought to bs included by all means they were the
sources q halft the difficulties in which the mercantile
community was involved they the fruitful
frauds that perpetrated upon the honest
portion OF the community and they ought to be ncnded
in the Bankrupt Law-or else could not be consider ed
agsneral law by any means For, il was use to at
tempt dry the stream il the fountain was left open
| CHEERS, amid which the Speaker sat DOWN.
| Here were loud calls for Mr.. Hall and Mr. Hof-
man.
Mr. PanscoTr Hall rose and sail My fellow citizens
assembled here today for the purpose OF
siderng whether it isjus proper to pass Bankrupt
Law either TO the just rights of the creditor.
assembled for the purpose Of considering whether law
which has passed both houses of Congress in solemn de-
liberation aud which has received the sanction OF the
president and with the appreciation Of the people Of
this great country, should without cause or without
assembled TO heter those who deliberately and with
made this law shall now turn round and
whether from spleenor caprice or for political aspiration
or some base unworthy motre-repeal this Law
before they have tried the effect Of operations loud
cheers And it strikes with especial astonishment
that the attack this law in Congress this session,
should from the quarter whence it has come.
CHEERS and cries Of Henry Clay" do not mean to
by any means But does il follow that because
measure is not perfectly satisfactory to all at the
first blush that therefore it snail he pulled down. and de
stroy before it has been tried (Cheers Why, my
friends, the very building in which now essen
beautiful and magnificent as it is acknowledged TO
| OF some severely critical Judgments, in regard
| to its structure! but does it therefore follow
% structure s' to put TIE 0T ground ecSeers 'p And
d. follow that because the Bankrupt Law passed
til late Extra Session OF Congress- does not meet with
the entire appreciation of the whole community, that
therefore it shall be abolished CHEERS, and cries of
"No No! not at least before we have given it, fair
| and i'm partial trial. (Cheers) Why. my friends it is
of the difficult things imaginable for the minds
OF men to meet and accord tremendously this subject
When have called the attention Of professional gentle
men this MEASURE and elected opinions how
could best be secured conformity the rights Of the cred
the proper modicum of re.fo the honest DEBTOR
have found most astonishing dscordance of opinion,
| so as almost to render it mpossble to frame law
which should give general satifaction even among
then that Committee of Congress found it
impossible 10 draft, law which should meet
this law requires to be amended-that in its pre-
sent shape it does not entirely meet with my
appreciation. cut does it follow therefore that It
And, least of all does it follow that after the
in which it was passed, that now, for no assgnable
cause under Heaven, the attack upon it should
come from the quarter in which we find it does come
Cheers and cries of {" 1t comes from Henry Clay") !
was told when as in Washington by a distinguished
Senator from Kentucky OF the most eloquent orators
in Congress, universally admired statesman
and pariot-fhot Kentucky ceni or the Ia, no. because
she psnted the airbut because right in itself!
(Loul che rs admired that sentiment from tina. man,
claimed that every where And Judge OF my sur
prise judge of my CONSERVATION when found that
the hand which would strike down this law, comes from
that very state which all vainly supposed to be
tower Of strength. (Great sensation.) Now, though
the States had surrendered the this law to
Congress- il not given to umber there but be
to pass such law was the bounden duty OF Congress-
to do what the States could not do themselves Cheers
In this matter the States were every where met by the
difficulty that no State could pass law, which should
violate or impair any contract But the same glorious
instrument that makes this provision, provides also that
Congress shall have the power 10 pass General
Bankrupt Law. (cheers) The only question is:
as to time And has not that time now Gomez
United States spoken in their might and majesty. Has
their voice been heard this land in tones
thatcan never be misunderstood. (Cheers) Why then,
before this law has been tssted--before the expert
ment has been tried or its defects pointed out by expe
rience-why, say, should It be stricken down, and
laturs7 tLood aud continued cheering) My friends,
have my fears that shr combinations, besides the ge-
traordnary movement have my fears that there are
in this country who make the mislortunes Of their
fellow sort Of capital wherewh to carry on their
political trading But say to every such man-be he
wing or ant. whig-i bid him beware Of what he is
about say that is matter how tall he is, or how
eloquent. or how strong he may consider himself in po
ltcal inhuenee-that he must beware! (Cheers) For
there is msn-no matter bow elevated he is-ip this
country-that cannot be reached, humbled, and put
down Tor ever by public opinion (rerrifc cheerng)
Letme say that If any nan in Congress has thus
citizens his political capital to trade on where
with to advance his own aggrandisement that he
will be utterly ruined unless he dscards this plan.
Although it may seem OF little conseqa to a few why
one house OF Congress shons pass law in July which
tLey should repeal nowyet let be remembered
there other in body Of Congress of higher
and more reflective order, who may be operated upon in
SIMILAR way, II nothing inervenes to prevents it. And
10 laa.
for this change lCheeTs Some pretend 10 that
is because the political aspect OF the times has changed
Laughter WHY suppose il has. That does alter
truth and light. [Choers Justice is immutable and
cannot change tCheers.l And If it was just tas the
not justto sanction that law in Jlnuaryl Whamakes
unjus, il il was just them Iaughter What wen
igh have broken in upon Congress recenly or since
July last (Roars OF laughter, end cries OF 500 600
head :" and faint hisses SAY if any man or set OF men
hove made of this law for their peculiar I'VE
thought the speaker said pecuniay but the had
such teri IDLE echo that difficult TO hear poll
teal advancement then let him them trembie Their
politca! throne! TREMENDOUS cheers) That the law
is based upon proper principles is ndispuable fact
(Checrs Thatit is an indispensable law cannot for
momen, he denied by any one (Cheersl Mankind in
all and every condition of life, liable to he overaken
bylmiiortunGshat are beyond the control olth wses
the pures or the most prudent Cheers And ii is the
Cheers In regard this par :uls law the creditor may
think it is enientthe debtor the other hand may
think is too The only way therefore, TO
lect just MEDIUM where all these differences of
opinion be adused aud is the duty Of the grave
mnps no preside 10 our National Senate to set them
selves 5duously at workn order to repair the defects
in this law, and not TO destroy Il without TRIAL loud
chsets) T.. aitoget probable that il the Apeyican
people he'd shown cupabe apathy upon this vital sub
jectthst the same spirit and influence which operated
upon branch of Congress, would prevail aud have
supreme sway in the councils OF the other But when
il shown to them in thunder tones gnation that
the American people winot be content hatthey should
pass law in July and repeal without trial yme
reason. the following January these men will be stopped
IN the middle OF their Cloud cheers) 1t Is my
hope and firm conviction thathe Senate of the United
States will not be onnd 10 be the weak, vacllating
wavering body that the House CT Representatives has
shown itsefto be TREMENDOUS cheering and Of
lsughter) at least part Of that house. Laugh
ter and cheers know not what has caused this extra
ordinary change. (Laughter) And Issy, without any
particular regard to respect, disrespect of any
member, that any gentleman who in four months,
can change his opinion, without any assignable
cause being able to give feasible reason there
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