Staunton spectator, and general advertiser. [volume] (Staunton, Va.) 183?-1849, 1842-04-14
ExTRACr FROM THE SPEECH OF
Mr.. brown, OF PRESTON.

ions, the law should be repealed, because it is !
1t is so in double point of
lew. 1t Is &c post Jacto, and it impairs the obi /
,ation OF contracts. DO not understand me as
enyiny that Congress has the right to pass
Uniform law of Bankruptcy. That power is a. !
nong those enumerated in the Constitution; but
I is power that never was exercised, except du.
ing the administration of the Elder Adams and |
,tthe Extra Session. But, deny that Congress
,an,in the exercise of that power incorporate in
10 the law er post tacto provisions, or those i'm.
pairing the obligation Of existing contracts-both
of which are done in the present law. II is ca
post faeto because it provides new way to pay
old debts, by assigning the effects of the debtor
to set of hungry Federal officers to be sacri6-
ced and consumed instead Of going to pay his
honest debts. What will a bankrupt care when
he once assigns his effects, the court does it
for him to the commissioners, whether they pay
ten cents or ninety the dollar to his credtorsl
1t Is all the same to him Sir, that he gets his
discharge. 1t impars the obligation of existing
contracts so far as they made before the pas
sage OF the bill. Such contracts under the laws
then in force never could be discharged but by
payment, or the voluntary release Of the debt by
the act Of che creditor. Tho creditor by law,
Sir, had the right to make his debt out of the
goods and chattels OF the debtor, not at any given
tune, but at all times down to the last period of
his debtors life, and to balance his estate in
the hands of his heirs, executors, or administra-
tors; and act of the debtor could limit this
right of his creditor. This, Sir. was the charac-
ter of the contract when it was made. But how
does it stand under the provisions of the Bank
rupt bil Sir, the debtor himself, il he peases,
or majority of his creditors, if he does not
please, change this whole contract so that
the creditor will be compelled to accept ten cents
i'm the dollar on his debts in full satisfaction of
the whole; and although the debtor NAV acquire
millions in subsequent life, may transmit his es-
tate to heirs, yet the creditor cannot make one
farthiug of his debt. Nay, Sir, the creditor
whose substance was thus taken, may die beg
gar at his debtors door. Will you tell me, Sir,
that this is not mpairing the obligation of such
existing contracts! But let us look how the law
affects debtors who became SO before the passage
of the bill. Sir, such debtors were, under the
then existing laws, entitled to have the possess
sion and control Of their estates and the credl.
tors could not divest them of such right, until
they had procured a judgment and execution; but
now, Sir, it is diferent-a majority of the credi-
tors may declare them bankrupts, md dvest
them OF the control of their estates both real and
personal, and have them consigned to the hands
OF the commissioners of bankruptcy, to be sold
under the hammer-ali, both real, personal and
mixed, for whatever heartless spectators may
see proper to give. But will gentlemen tell me
that these provisions could not he avoided in
Bankrupt Eaw1 Why, Sir, child could sng-
gest the proper mode to avoid them by making
the law applicable only to such contracts as were
entered into after the passage of the law. This
would have put to rest the constitutional question,
so far as the past facto feature of the bill is
concerned. But, Sir, to avoid this was not the
object and design of the master spirits in this
work-they intended to invade the existing con-
tracts, and to dissolve them at the instance of Ell
Their the one party or the other, without the con-
currence of both, in violation of every princ;nle
OF sound law and morality. The wild specula-
tor the dler, tho froiioke-, iho epend,hrifi. ODD
hidden scoundrei, were all to be discharged on
their own petition, again to start fresh credit,
and again run another career in their Improbable
and criminal pursuits at the expense of the con-
hiding, honest, industrious and good part of socie-
ty; and the poor but honest tradesman, who NAV
desire to struggle with his cmbarrassments, and
finally succeed in business, is to be stopped and
broken down In his avocation, by bare majority
OF his creditors, who may desire to get clear of
his competition. But gentlemen will argue that in
the latter case, the debtor must do some act ndi-
eating disposition or incapacity to discharge his
debts, and IT the charge is improperly made, he
can contest the matter in the Federal courts. Let
me tell you Sir, the poor tradesman who has his
shop closed by his creditors, and goes into the
Federal courts to try that question, if he was not
bankrupt when he went into court, he will sure
ly be one when he comes out. But, Sir, there is
one other objection to the bill great as any that
have yet mentioned-i allude to the preat in
crease of Federal officers. What will be the e.
monuments of the office of Commissioner of Bank
rruPtcy In Richmond, Petersburg, Norfolk, or
W heeling! 1t will be moro valuable than the SAL
airy of any Judgeship in the State. This may an
swer very good purpose for some of those gem
t'emen frequently to be found about cities, with
no property, but with very respectable connec-
tons; but it will be woiul tax on both debtors
and creditors. In cases Of voluntary bankruptcy,
after the debtor has arranged his property and de-
llvered his schedule, and the questions settled in
court whether the matter has been honestly done
or not, and the amount Of the creditors claim
made out and settled, with all the cost attendant
on this proceeding; then add to this Sir, the COM
mlssioner's fees orcolecting and settling up the
estate and what will be left for the creditors out
OF the estate ?-hardy, Sir, what the butchers
term the jyh quarter. But, Sir, there is one pro-
vision In this Bankrupt Bill unknown in any 9TH
er nation under the sun:-l allude to the feature
That authorlses man to declare himself bank
TuPt, whenever he pleases. In England, France,
SPaln-lndeed, Sit, In every nation where Bank.
Tupt laws have been introduced, their whole OBJ
Ject has been to enable creditors to sion fraudu
lent insolvents from wasting their property i'm
thcir possession, which property belonged to their
creoitors. FOR instance, Sir, trader, who lives
by buying and selling, having extended his credit
largely, may attempt, by the fraudulent convey. |
ance OF his property to his friends, to defraud his
creditors. This, Sir, would, under the Bank |
ruPt Laws OF England, authorize any creditor to (
prove this overt act of bankruptcy, and sue ont a |
commission against such his fraudulent debtor. ,
or II he, for the same Fraudulent purpose leaves
the realm, or goes to JAIL and lies there for two
months without giving bail, and for MANY other
similar causes, his creditors, if they please. can
close his doors by suing out commission from |
the proper courts but, in all these cases. il is tho
roll fnrc Il