The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1842-01-19
T,ae Great Meeting of the Merchants In
Wall street for Repeal and Modifica-
1ion OF the bankrupt Law.

IN another part OF this paper, we give full report
q the proceedings and speeches at the great meet
ing, held yesterday in the Merchants Exchange,
Tor a repeal and modification of the Bankrupt Law,
now pending before Congress.
Tn. sentiments and principles promulgated IN The
resolutions and speeches will best speak tor 'hem-
selves. II they are just and sound IN arguHeht-ln
lawn Justice and in public feeling, they VIII nave
their proper effect in the proper quarter ; not,
not O,e thing in their resolutions is especially ap-
nronriate-we alude 10 the condemnation, in the
strongest terms. of the brutal and beasy charges
Of briberv and corruption aIde against The honor and
tnfeeyity of Congress, b. Infamous and bankrupt
print in IpyaA street, dsnoniaq,ed he COURIER &
EsqUiRER" That atrocious organ. once purchased,
live cattle in the Market" for the price of $50 725
in loans from the United States Bank, has at
length received certificate of character from
the honest and solvent mercantile community of
New York, assembled in their own Exchange, in the
centre of Wall street, and surrounded by all the
rlpt influences of that notorious lhoroughtare For
the first time in half century, have the sentiments
OF honesty and integrity, raised itself on high In
that street and spoken In redeemlng voice, that will
reach Washington-peneuatet TO the remotest limits
of this glorious Republic be heard across the
waters of the Atlantic, in the great marts of Euro
pean civillza lion. This is triumph quite sufficient,
If nothing else should follow. This is the voice Of
truth and morals that all will feel
OF the probable fate OF the Bankrupt Law, we
have accurate intelligence from Washington.
The repeal will pass the House. In the Senate it
depends on the vote of Mr. Clay. The legislatures
OF Kentucky aud Tennessee have passed strong reso-
luiions in favor of the repeal The whole Kentucky
delegation in both houses will for the repeal,
except Mr. Clay, who says ''l will not" But
yet il is the opinion of the Western delega-
cations that Mr. Clay, when he comes to the point,
icW not dare 10 rote contrary TO the ,cestsrn States
ms principal stock trade for the nert Presidency.
He will be creed to vote, to resign If he should
vote therefore according instructions, the repeal
will pass both Houses. In such case, we have
every reason to believe that President Tyler, at
present advised, will veto the repeal and let the
presen, Bankrupt Law remain as it is, or return it
for amepdmen. and modification.
We present these views for what they are worth.
Personally we care nothing for the result-we only
want to place before both parties, and the whole
community, the most accurate and Ineligible posi-
lion of the question. We only want good, safe,
and enlightened administration of public affairs, and
we are satisfied But this Bankrupt Law promises
70 produce higher degree of excitement-almost
leading TO civil commotion-than any question
that we have yet known. May the just have the
triumph may honesty prevail may mercy be
heard, mingled with justice.