The daily Madisonian. [volume] (Washington City [i.e. Washington, D.C.]) 1841-1845, 1842-01-28
gwentp= Seoenth Congress.
SECOND SESSION.
IN SENATE.
THURSDAY, January q. lsi2.

hHohspAf, Janudfy ~, lSi2.
The PRESIDENT laid before the Senate the iol.
lowing communications:
l. From the War Department transmitting the
statement OF the Second Comptroller with regard 10
the appropriations for the military service for the
year lo4l, with the expenditures under each specific
mead and the balance of the several appropriations
unexpended at the end Of the wear with an estimate
OF the probable demand which may remain on each
of such balances. -
:. from the Post Office Department, containing a
" enc haihes OF the persons employed as clerks
III me General Post Office in the year I84I with the
pay of each. -0'i' WIN wy
MI. SMITH, OF Indiana, presented two netitions
from that ntate--one praying for the abolition of
slavery IN the District of Columbia, and the other.
that no new State may be admitted the Cons;,ntion
of which tolerates slavery The question Of recenl
ton was laid upon the table
MIR. BENTON presented the petition of NJ Canon
asking compensation for the expenses incurred in
testing his system of telegraphs.
Mr.. WRIGHT presented several pettions from
rupt law
Mr.. SIMMONS presented memorial from Rhode
Island, asking fora repeal of the Bankrupt law also
the resolutions OF the Legislature Of that State in
structng their Senators to procure suspension of
the operation of the Bankrupt law for one wear from
the first of February next
Mr.. MING presented petition from the State Of
Alabama, the first he believed emanating from thai
a .a" upon lhe suoJect) praying that the Bankrupt
mol be amended, postponed, or repealed
Messrs CLAY, HUNTINGTON, TALLMADGE
PORTER, WRIGHT, TAPPAN, CHOATE
rHELrS, WALKER, YOUNG, SIMMONS and
the PRESIDENT, present circumstances against !
repeal or postponement Of the Bankrupt law.
THE BANKRUPT BILL.
The bill to repeal the Bankrupt law was taken No
for consideration ~ W
Mr.. BAYARD said he hoped that he might be
DerEllttcd to that thare hadh Ia D. -
on as TO the number of persons Who were 10 he benc
nteu py inns law and also to their SUFFERING condi
ton. In describing this state of things t really
seemed to him that rhetoric had run into hyperbole
~ ;,h .o unfortunate debtors had been represented
with gives upon their arms and as manacIed and horne
down TO the earth, and doomed to perpetual
Imprisonment and all this intended to .epct ih
conui''on OF man who had volun arly contracted 10
pay sum OF money which he was unable to do, and
whose future acquisitions Of property the law wond
not exempt from seizure to satisfy former ohGat;n
According to the last census the whole nutybeT of
persons in the United States engaged in commerce
Manufactures and trade, did not exceed nine hundred
thousand and yet they had been told by The advoco,
OF the law, that there were five hundred thousand
bankIups in the United States Ofthe entire NOM.
latlon more than three millions were engaged in AN;
cultural pursuits Take out the operatives. and he
would ask who were the fit subjects oftbis ,ci Thov
would not have nine thousand persons-not one in y
hundred OF the number stated. In Great Britain dnr
ing period of one hundred and eight wears there
were but eleven thousand bankrupts. He was not
opposed TO Bankrupt law but was in f,vor of ~,
the purposes OF which responded to the Constitution
and IN his opinion, this law only corresponded to TIE
Constitution in its title, and was manifest departure
from the intention Of that instrument BanErupt
law was entirely distinct from an insolvent la,r
when was intended merely to relieve the debtor
The former in its inception, was intended as 4 reme
dy Of The creditor against the debtor and was confined
to persons engaged in merchandise and this had
9eeh !he foundation OF the Bankrupt law in England
The first nsolyent law passed ia that country in
1853, and was called the Lords Act, and was intend
ed to apply to person ken in execution for debt
less than hundred pounds but, if he came forward
and surrendered his property, he was discharged s.
tenacious, however, were the trainers of this law of
the rights OF the creditor that they would not hermit
the discharge Of debtor without the consent of bis
creditor; and 1t was enacted that if the creditor
persisted IN combining the debtor in prison. il could
only DC done on condition of paying two sh-
lings and sixpence a week for his support
But Bankrupt law had for its object distribution
OF the effects OF the debtor for the benefit of the cred
o and the arrest of the debtor in his career Of prod
gallty and Encouragement, whenever il was found
that he was not able to meet his engagements A
Bankrupt law and an lnsolvent law therefore were
as widely different the poles and vet they were
tod not only that these two systems similar but
Jacobs's Law Dictionary had been referred to- in
proof that these two systems the same thing
Inc power to pass uniform system of Bankruptcy
was introduced into the Constitution to prevent the
enactment of stop laws to administer equal Justice to
every portion OF the community and for the relief of
the creditor; but the law which was passed at the
last session made provision for the relief Of the debtor
In every aspect in which he could view the act it
was unconstitutional and this was the reason why he
should support the bill for its repeal.
Mr.. CHOAIE remarked that Massachusetts had
eVlnced disposition to give to the Bankrupt law
fair and impartial trial. and that the Legislature az
that State had passed resolutions to the same effect
MASSACHUSETTS was a creditor State and the other
members OF the Confederacy were largely in her
DEBT; and she was perfectly aware that when the
debtor shall have become ransomed he would be ia
them better customer. He would therefore sun
port the law especially because it was retrospective
IN It's operation, and because, in the suffering cond
ton OF those who would avail themselves OF its pro-
visions, they had every inducemen to oppose its re-
peal Let them look around and see the exhausted
and generally depressed condition of the country and
let them consider that it was their hand which
struck down an unfortunate portion of society," it was
their hand which might be safely and benefciay in
pored IN raising them up. Motives of humanity
would also induce him TO take this course for he
could afford to be humane and would thank God for
the opportunity to do The Senator from Mis-
souri, (Nlr. BENToN) had said that this was Whip
measure; but he was not willing take all the credit
thus bestowed because the people did not divide anon
party grounds upon this question. The Senator had
also SAID that 1t was measure of relief and the Sc
nator was right again when he stated that the measure
was passed with view to benefit the nsoven debtor
multitude of countrymen had been blasted and
ruined by then fellow men, the dangers of the seas
| and by the visitation of Providence; and he agreed
that this law was passed fos the relief othis de.crp
ton OF persons. While danger threatened us from
abroad, and our national councils were distracted hy
the discordant voices of those who should be like bo
thers how happy would he be TO hear upon the
first of February, the sound of the silver trumpet pro-
claiming deivcrance to the captive thus dlspcnr
the darkness and the gloom that now rested upon his
hopes
Mr. BENTON obtained the floor, and after lay,nr
down the premises upon hch he intended To uteal.
cate his remarks he gave way for motion to adjourn
AID the Senate then adjourned
EUROPEAN AGENCY Tho nnlor.iaol f.