Martinsburg gazette. [volume] (Martinsburg, Va. [W. Va.]) 1833-1855, 1842-01-27
From the Riehmond nlhig.
PROCEEDINGS IN NEW YORK IN RELA-
TioN TO The BANKRUPT ACT.

PROCEEDINGS IN NEW YORK in RELA-
TioN TO The BANKRUPT ACT.
The subjoined notice Of the proceed
ings in New York will arrest the atten-
ton Of the Southern public. All politl-
cal parties there, ayow themselves 10 la
yor of Bankrupt Law-but what IS most
important is, that they all agree TO EN-.
brace State corporations within Inc pro-
visions Of the Act.
Mr.. Benz. F. 8utler--Mr. Var Buren's
Attorney G~encral--attended the meeting
and earnestly opposed the repeal Of the
Act. He is reported to have said
"He reioiced, he said, that they were
met that day within that noble Hall, con.
secrated, as he believed il then was, to
the ends Of justice, Of public policy, and
The great interests Of trade, as we'll as the
interests of humanity. [Great applause.
He assented, at the request OF the com
mittee, to attend that meeting, to address
them for a few moments. He would not
attempt, however, TO enter on a Discus
sion of the immensely wide and difficult
field embraced by the Bankrupt law
When in common with them, he raised
HIS lutlUlt tOiCG III L iuFpi hC otutNo
the great principles which he supposed TO
belong to the subject. He still held the
same views, and gave il his ardent and
cordial support,-though he hoped 10 see
il amended by tho united wisdom Of Con-
gress when they agree that the law is de-
fective, seriously IN his own judgment,
yet he called upon every man to support
it. He hoped that the five and twenty
other States Of the American Union would
rally with this, and with II heart and
one mind support the law, and call upon
Congress not to repeal but to go on and
amend. [Great applause.
He concluded by moving the follow.
ing resolu,ion-,o include State Banks
which was unanimously adopted
"Resolred, That whilst we deem it a
measure of justice and policy, as we'll as
of humanity, in the existing condition OF
our country, to provide for the relief oil
the honest and unfortunate debtor, and
for this and other reasons oppose the re-
neal or suspension Of the law under con-
sideration, we nevertheless believe, that
the great benefits to be derived from a
well digested Bankrupt law, are to be
found in its preventive influence on the
contracting Of debts, and in the perma-
uent settlement Of the relations Of debtor
and creditor, and that we therefore con-
slider it indispensable that all expedient
safeguards should be established TO pre-
vent fraud, and that full protection should
be given to all just creditors, and especi-
ally to I'll: creditors Of Banking corpora.
tons, and that the presen! law so far as
it is defective in these respects, should be
amended by a supplementary &C; IN such
manner as to accomplish these desirable
ends, but without being repealed or sus-
pended.
From The Mem York Express
GREAT MEETING IN FAVOR OF THE
BANKRUPT LAW.
The Exchange yesterday afternoon at
IL o'clock began 10 be filled, and little
alter 2 o'clock, 1t was impossible to get
within many feet of the great Hall. The
concourse was unexpectedly and remark
ably great. Such a throng has seldom
assembled there except in times OF the
highest political excitement. We cannot
saw how many were there, or about
there. but there were some, if not many
thousands.
There were some points in this meet
ing quite remarkable to-the first was
the strong, and decided manifestation Of
opinion with no dissen.ient voices appear
ing in behalf OF a Bankrupt Law that
should include corporations land the
next was. the manifest and hearty appro-
baton given by leading members OF the
late Van Buren, party TO the principle oil
the Bankrupt Law.
In the full report we have given OF this
important meeting, we call attention, to
the energy with which the assembly Sc
conded the call upon the State TO force a
resumption ofspecie payments, or falling,
upon the Federal Government TO force
them by a general Bankrupt Law.
We also call attention To the change OF
opinion which seems TO have taken place
in this part Of the country as TO including
corporations, and which seemed TO af'
ford Mr.. Butler, in particular, much plea.
sure. This change Mr.. Selden explain
ed. Ii is now seen that in some Of the
States, Southern and Western, there is an
lnQllIefeUCc VA thc pun o"'h W wy b"hNS
and the State Legislatures as to resump-
ton, and that, therefore, me only way
we have of reaching them is by the COM
pulsory action of the Federal Govern
ment. Thus what was unnecessary one
or two years ago, seems necessary now.
Particularly do we invite attention botf
from members of Congress in Washing
ton, and State Legislators in Albany Il
the important fact that there is no diff
ference of opinion between the Speaker
Of opposite parties about the impolicy ant
injustice of repeal or suspension Of thu
Bankrupt Law which goes into operation
Feb. /. The late Van Buren, men urg,
the continuance of the Law as earnestly
rs the Wings. Ofthe Speakers were.
Wings, Van Buren,,
MIR. Selden, Mr.. Butler,
Mr.. Hall, McVean,
Tilden,
Edmonds.
The President ofthe meeting. John
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