The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1842-01-20
TWENTY-sEVENTH CONGRESS.
Second Session.

TWENTY-sEvENTH CONGRESS-.
Second Session.
Senate.
TUESDAY, Jan. Is.
The BANKRUPT REPEAL BILL
The CLERK OF the House of Representatives, APP
peared before the bar, bearing the bill for the Re.
peal of the Bankrupt Law.
The SECRETARY Of the Senate read il first time
by its title, and
The PRESIDENT pro tenn pat the question s'shall it
have second reading" loud cries Of no, no.)
Mr. BERRrEN rose and said hope not Mr.. Pres-
dent.
The PRESIDENT explained that the question was
'shall the bill have second reading now" and not
the second reading itself He was understood to de-
eide that the ayes had IT, but 1t laid on the table
as objections were made, the rule requiring unan
nous consent.
Mr. TALLMADGE presented the remonstrance of
65S citizens of New York against the posponement
the same subject from Buffalo. Poughkeepsie, Gene.
see, Albany, Seneca Falls, Troy, Salina, O.wego.
and various other places. At the honorable Sena.
tors request, the remonstrance from Buffalo was
cal.
circumstances against the repeal of the Bankrupt
Law were presented by Mr.. Rives, Mr.. Merrck,
Mr.. Evans, MIR Buchanan, Mr.. Mangum Mr.. Tap,
pan. Mr.. Walker, Mr.. Woodbury., Mr.. Morehead,
and others.
Mr.. MILLER presented petition from PHILADELPHIA
for the amendment of the Bankrupt Law.
Mr.. ALLEN presented petitions for the repeal of
the Bankrupt Law on the ground of its unconsttu
tionality.
Mr. WOODBURY. presented one demonstrating
against the continuance of the Bankrupt Law, from
Portsmouth, New Hampshire.
Mr.. MERRIcK presented petition for the repeal
of the Bankrupt Law from the city of Baltimore,
which was read at his request.
MIR. MoREHEAD presented a remOnstrance from
the city OF New York against any interference with
the Bankrupt Law. The letter which accompanied
this remonstrance, he said, expressed some appre.
henson that he might vote for the repeal and that
on his vote might depend the fate of hundreds of
thousands OF American citizens men, women, and
children, who were looking TO the law for relief
He should certainly most deeply deplore if he could
oppose tor moment that on any action ofhs should
large number of the people OF the United States,
and he avaed himself of the opportunity before he
submitted the motion which he proposed to make,
with the Indulgence OF the Senate, to offer some
few observations. 1t could not have escaped
his notice. nor, he supposed the notice of the
Senate, that some late proceedings OF the
Legislature of Kentucky in reference to the bank
rupt law, had attracted public attention to a very
unusual degree Pursuing custom which was
common he believed TO most it not all The States of
the Union, In expressing their opinion on questions
Of national interest, the House of Representatives in
Kentucky, had, by very large majority, passed
resolutions declaring their opinion that the bankrupt
law ought to be repealed 1t was not for him TO
search for reasons vindcate the sentiments of the
people OF Kentucky on this or any other question:;
nor should he do more than allude barely TO
the manner in which-whether in time of
national prosperity or national peril in peace or
IN ~ar-she has acquitted herself of the obliga-
tens which she owes as member of this Union
Whether the. Bankrupt Law were measure of
national benefit of national Injury was question
about which the people OF the States had a right 10
differ but whether the measure would affect adyan-
tageousy lnjurously the interests of the people
of Kentucky, the people Of Kentucky alone were
competent to Judge. He (Mr. Morehead) thought
from their Judgment there was no appeal At the
late extra session of Congress, he voted for the
Bankrupt Lew, regarding it as measure OF national
policy: profoundly, deeply impressed with the
value of the claims of that large and interesting
portion Of the people OF the United States, who
were interested in the passage of that law on the
sympathy of their fellow citizens and the JUS
tice of Congress, and anxious, sincerely anx,
ious that all the benefits and blessings might flow
from it which all its friends might desire, he gave
it his cheerful assent. If he had been disposed to
find reasons on which to found the supposition that
there opposition TO the bill in the State from
which he came, he needed not to have gone further
than the other wing OF the Capitol to satisfy him
of the state of public sentiment in his own Slate
he needed only to have consulted the journals of the
House of Representatives TO have perceived that the
whole body OF the Kentucky delegation in that
House, with one solitary exception, was arrayed
against the passage Of that law But he took no such
pains on the subject his judgment was satisfied
he looked throughout the Union, and he saw hun
dreds OF thousands, as the letter which he had re-
csived, states, of his fellow citizens, bowed down
unto the very dust by the most unexampled pres
sure, writing under torture which he alone can
know who sees his wife and children consigned TO
hopeless and irrevocable want, bound hand and
foot with letters which no human agency but the
National Legislature can unloose-with such spec.
tacle before him he felt deep and profound sense
of duty more imperous even than the sympathies of
his nature could control He had seen nothing
since then in the condition Of public affairs, in
the condition prospects of that unfortunate class
TO change his views of the benfcence of that mea-
sure, as measure OF national enfranchisement.
He felt now as he felt then, that il would have
been one OF the proudest actions OF his life
to be the instrument OF unloosing their letters.
and seeing them no longer the prisoners of
debt, but the happy possessors OF hope, joyous,
buoyant hope. But he had regard for the prlncl
pies Of his public duty-of which every member OF
the Senate must be the Judge for himself Notwith-
standing such were the impressions under which he
acted at the last sess ion of Coneress-notwhstand
ing such were the views which governed him-he
did not entirely lese sight of the duty which he ow.
ed to MS constituents. nor of the relation which
subssted between him and them. On the return of
the bill to that House, with an amendment adopted
IN the House OF Representatives postponing ope
ratons until the lst of February, the Senate might
not be unmlndiu of the part he took in support Of
that amend neDt, and the reasons which he assign
ed. The Senator from Pennsylv ania (Mr. Bucha-
many would not forget the issue which he made on
that occasion. lnasmuch as to some extent the law
was an experiment, he held it to be peculiarly pro-
per that the people should have the opportunity TO
pass upon it, After the adjournment of the SEES
sion, he returned to his constituents, and though
be found no outbreaking there, though he found
no very great dissatisfaction pervadng the com
monwealth respecting those who differed from
them, he, nevertheless, did find strong disncli.
nation in the public mind that that law should 60
into operation. And there were a variety OF rea.
sons why Kentucky should feel as she did, and in a
way not common TO other States. This subject Of
" the obligation of contracts" was one with which
his constituents were extremely familiar. There
were few persons who had figured in public lie,
VINO did not remember the struggle on the suhlec
Of the relief system in his State Why the subject Ct
"the obligation of contracts" was discussed every
where and by almost every one IN Kentucky. an1
they became as familiar with that as they could b.