Richmond enquirer. [volume] (Richmond, Va.) 1815-1867, 1842-01-29
Wednesday, January 20.
GEN ATE

After the presentation Of petitions and the reception
Of reports from committees during the morning hour,
The Senate proceeded TO the consideration, in
committee of the whole of the bill from The House Of
Representatives to repeal the
BANKRUPT LAW.
Mr. BERRlEN concluded his remarks from yester.
day, coniendng that there nothing in the objec-
tons urged against the law by those who had advoca.
ted its repeal lie maintained fFs that the law is nei-
Their lmpraccabe in its operation, nconvenicn in
its requirements, beyond what any uniform Bankrupt
law, matter how modified, must necessarily be; next,
that II is not partial, calculated to operate for
the benefit Of the debtor than for the benefit of the
creditor; and, next, that far from being immoral
and dangerous in lis tendency, it would, in effect,
he much moral, humane, and exemplary in its
operation than nsoycnt laws. Ii would, in the first
case, be found easy Of accomplishment when fairly
put into operation It would have the effect in the sc.
cond Of protecting all the creditors of the debtor
by securing them equitable share Of the assets; and
the whole of the hankrupts property be taken
for this p7o rata distribution amongst his creditors,
they in reality to be the benetcarics Of the law,
and the debtor not TO be the beneficiary till he had
honestly, good faith surrendered up for his creditors
the whole OF his assets In the third case, that if the
debtor merely subjected 10 nsoYen; law, his
person only and not his future acquisitions, would be
freed from his creditors and lie would be driven 10 lead
lie Of deception and fraud 10 prevent his creditors
from touching the proceeds Of his labor, demanded for
the support of himself and family; whereas under
an honest duty required of him by the law, lie would
be freed from any interruption 10 his future enterprise
industry, and success hence the morals and the use
funess Of the debtor as regarded the community in
which he lived, would be encouraged and promoted BY
the operation Of the law. Under all those consdcra-
tons he (alr. Berrien) opposed 10 the repeal of
the act Of the last session. but if he not ac
tuated by these considerations he would be moved 10
oppose The present bill the grounds Of lis mpocy
an inexpediency 1t would be demonstration
to the country Of the instability Of Congressional lie.
gisation. An act soemny passed in session almos,
but yesterday, to be repealed to-day; presenting
spectacle Of insecurity and instability in legislation of
the most injurious and pernicicus character
Mr.. Is. having concluded, and no proposition being
made 10 amend The BILL it reported TO the Senate
Mr.. SMITH of Conn, obtained the floor; but Welded
il 10
Mr.. TAPPAN, who moved that the Senate adjourn:
which disagreed TO.
MIR. SMITH then proceeded in his remarks in favor
Of the bill before the Senate. He remarked that al least
sevcneghths of the people of Connecticut opposed
10 the law passed the last session. its present shape
That State, he said opposed TO comforting such
power the General Government when it was first
proposed in the Convention which framed the Const
Triton. There great unanlmity among the people
Of his State opposition 10 the law. They are cred.
tors, and not to be benefited injured by it, There.
fore their opposition 10 il was founded on principle
Mr.. confined his remarks principally TO the retro.