Daily Richmond Whig. [volume] (Richmond, Va.) 1840-1842, 1842-01-04
To THE EpIroR OF THE WnIc

subject of deep interest to all classes of the
community IS at this moment under discussion in
the U. States Senate aludc TO the repeal of the
BANKRUPT Law. say of deer interest TO all cas-
ses OF the community: none can be of q more gene
raj character, Tor every man IS either debtor or
creditor, and To both II IS equally interesting.
Much has been said for the unort unatc debtors
who are TO he relieved by this law. The stale
phrases OF poor unfortunate" CENTRALIZED freemen,
&c, have been dealt out with lavish hand: bu,
the poor creditor, who Is, indeed, the real sufferer
seems 10 have been entirely forgotten. By strange
peTVerHon OF sympathy, the claims OF the ind vdual
VINO has os' his hard earned gains toy the cxtrava.
sn"Ie' ""pt"dehce, or,h you WILL the misfortune OF
aho'hcr' nrc deferred To those Of that other who
ms rcaped all the benefit of his losses
1t may be, perhaps, because l. my SELF hnppen 10
belong to the creditor rather than the debtor class
o"' must confess my sympathies, contrary to the
general current, rather low towards those who have
had the misfortune TO lose their fortunes without nm
cquvalent-nt any rate, conceive Tint IL is rather
their rights and their restoration that should attract
the attention of the Legislature: and il is upon their
account, aud Tor their sakcs, that Bankrupt Law
shoulh no passed, without any regard To the claims
or wishes OF men who have already nnioycd more
than TAR distribution OF rights entitled them to-
Ies, Sir, IN the name Gt the creditors of the coun-
| try, call Tor Bankrupt Law, that shall unmina-
! Gle the honest man, who owes money! and ia ,yIl
ing 10 WORK Tor his creditors II he had an orporu.
MY Let 1t not bc answered, that If his creditors
desire his release their object can he attained with
out the intervention OF the inw the iculty i, that
without such law, one or two silly, obstinate or
m1levolont creditors may defeat the will of n nte .
MAJORITY aver mat, IN almost every case of Bank
| ruptcy have ever known, large majority of the
creditors aside from all feelings Of compn sion unon
mere grounds OF policy desired the liberation of the
debtor who they believe I, had honestly surrender
| ell all his property. Let us see If thew nre NOT
prompted to such desire by every feeling Of self.
! interest. Here ~ an individual who owes fifteen
| men, altogether, ten thousand dollars more than he
can pny-two hive drained him of every ccnt-hc
mas taken tue oath OF insolvency, nd executions TO
a heavy amount are still hanging over him. Under
such circumstances, what can he, what must he dot
lie cannot hold property, and he can hardly live
without II. lie 10 compel cd TO resort TO the tricks
md frauds OF trust deeds, agencies, &c, and thus
| you thrust the dctesicd cloak of fraud upon tho
shoulders Of an honest man-you dive him into tho
| paths of deceit and you teach him corruption, 10y
| way OF learning him 10 pay his debts. / grOan.
| Ing and smartIng under the burden and stigma oil
| insolvency, he seeks by some Of the many avenues
wealth, to accumulate little npital to trade on
no is pouncod on before he can use IT, so that nc hn,
nonllernatiyc but to become an humble seeker lol
some ptlfu office that will afford his family men
gro support, and leave his creditors as Tcmedioss M
ovof Thus the poor boon Of luboring for you
sake IS refused TO the productive intellect and active
body, which are willing, and should be willing 4,
exert themselves to discharge tho Obligation undc
which they labor-refused always, | suy, necessari
w obviously, against tho will Of majority of con
sldern'c and reasonable creditors. Suppose now ,
Bankrupt Law steps in, and carries out the will o
the majority IN opposition to that of two or thre
pctvorso and silly creditors, who inadvertently dc
sire TO retain bound and useless, the common slav
Of tho whole. What do wo now seer II the free,
debtor IS a competent man, and can make money n
ALL ho will mako II now. From his friends no cal
now, in all probability, command tho loan Of tl
capital, that was wholly unnttainabe whom II wa
lube to DO sc zcd by his creditors. by this means
schoolcd into economy and prudence, no accumu
nos tho fortune that IS tho certain result OF III os
virtues, and all this II he isnn honest man. rebound
to tie benefit Of his creditors.
You have there, slave with his i, nds tied, VIII
$ snys--"Nlnster loose inc, will work for you unit
redeem my liberty nannccd MS | am, I can d.
c nothing for either Of u.s." Will you in very spit
answor-"No tho law has delivered you into m
hands, and mean to keep you in your proson
miserable condition, although | know that ca
5 reap no benefit from IT,"
1t is true n goat many scnuudrols w bo liberia
, ted 10y the law, who, II they make money, will nc
vcr pay their debts; but docs any man believe tn
Bankrupt rascal will pay undor my CONCEIVABLE
circumstances
10 short, can any one cite n else. in which d |
has been discharged Nv bankrupt, without III
Bankrupt law, thit would not have been paid undo
lW II, US humbly opInc, no such case can 10 n,