Richmond enquirer. [volume] (Richmond, Va.) 1815-1867, 1842-12-24

vas the best uId Wisfst law that congress hau ever
passed. Now, il 10 be repeal, upon The molidn o!
the very gentleman who had made this ruioguni.-
Considering the from which that motion eina
nated and considering the sort 81 support when y was
about to receive il struck his mind as one OF the mos;
alarming movements he lad ever witnessed IN TIE po
htical world. IL went far tn prove The trnh oil lhe
charge so often made agnnst this nalionthat IT. legs
Ia,n destined 10 lie unstable mt guided and go
vernrd, it ought la be, by The settled, well consl
deed, we'll dgessd opinions OF the people 81 The conn
try; but that il destined ID be disturbed ny every
wave at popular sn,iment-to !lnw saort, no, only
Inc siiilugs nd urEDgs nf popular srni'mtnt, bu,
popular and popular d-iuson. That such thing
popular and popular teiusinn existed, as well ~
this country 10 others, ha not afraid or ashaTed
10 say BY unsettled, Ill dgrsled popular opInl'n, te
never had bren-nnd so help nun God never ~ooio
! be governed
| Bur Vermont demanded the repeal Of the Bankrupt
| iaw-and, therefore, II to be repealed. Vermont
y as creditor Sia,e-she was in The happy condition
nf owing nobody and everyhnGy WIS Indrbted To her-
and her Legislature, at lis last session, passed resn
Ia inn nstuctng h"r Senators, and requesting her tie
presrEnvas Congress- To procure the repeal OF Tia
law He denied III. rIaht OF Vermont 10 dictate 10
Congress npon this subject, upon any other Size
nj yh express her upno;iS, u was true-but the OPP
mons ,ha, governed here those of the members 81
the National lPpitlaurr, aud not those OF the mem
hcrs of hpr Stale Legislature lie utterly i"suis
10 this doctrine of instruction. let it come from what
source it miaht, avowed or mol avowed what security
there for legislation, if the Representatives .;
Siaie-ihe very SAM" men-wefe To be governed Que
day by one of opinions and another day by annl!e.
Just as The of popular sentiment ebbed ana flow
ID Vermont did moi, II seemed like TO see her deb
escape, and, III common with almost all other cr"
dtors, she had very great reluctance 10 see e erad
! body Of debt buried out Of her sight Well, tvs
mish. b, very natural feeling; but i, was morbid
enc, which ought not 10 be- encouraged. Creditors
we're not huzzsrds I" fred on carrun and he did IT.
waat TO see these dead bodies KEEP! above ground h
.hey tainted The whole atmosphere.
! He had remark thai lie could nc. any security
for lg:salion in The country, unless party and paf
,ne were to be prccuded from influencing ii 10 sn
their temporary purposes II they could no; b., then
The legislation of The Country would be blown about by
every popular gas. un!ss the representatives wonld
ABIDE by their opinions after having once promu
gated them lie free declare that there could De
no stability in Tie policy Of the country.
| But his excellent friend from Vermont Mr. Everett
had discovered That the bankrupt law had Performed lis
Office tla, il had fulfilled Ms ohec's, and therefore
nunh to be repealed lie further avowed, that was
his opinion ut The time the act was passed, that should
have been limited 10 the OF one yeas; that il ought
to be a Temporary law. What o temporary law
What was II but Reputation in lis mast cdous lorn,
reputation by individuals of their debts at then
own time: proclamation By debtors of labIee--.ot
like that Of the Jews which occurring 4: regular and
iaed periods, creditors we'll debtors could prepare
hemseves for-bu jubilee the lime Of which was 20 BE-
prescritedby the debtors themselves: Such bankrupt
Ia was mi the establishment ct rule Of aw; II vas
The establishment Of exception 10 rule Oh law, IN The
face Of the law i,srlf II law Ivy winch you oPe
the prison dnors, and rt loose those confined ol l-
moment; though at the next day The jls may b. as
u as eyrr--nnd Of those, tot" who not be set al
liberty Was tha. Bankruptlaw in the understanding
OF The Constitution: The Constitution authorized Con
cress pass uniform laws The subject OF bankrupt
CIV: but could law OF years duration be called
uniform Law, IL YES not lay, because il was net
,,frc nff. all a,,kp Lut
partial arbitrary Of arbitrary power interpreting b.
tween Tic credor aI5 his debtor, to break up for ;ae
rle being The relations between them, and 10 lake
away the power which the law gave the former oycG
t. "a ter In tks say, the creditor in his turn, ni.h
tie ruined and driven bankruptcy; though, in
qucnce of the Temporary rn'u:e OF the law, he would
be rIecudsd ffnin its benefits. Mr. SAID he denied
the lower I'll Congress to pass any snch law. IL had
The COVER pass permanent and UNIFORM law, AMI he
admitted ia, Ind the power repeal it; but had M
power pass BankrGp, law that was not permane nj
and Uniform. Such Bankrupt law confirm
mated by tss Constitution would have the tendency 10
prevent bankruptcy; bit Temporary law, such as as
CONTEMPLATED by the gentle man from Vermont, would
haze Tie tendency 10 ercnnrog" BANKRUPTCY, and to
encourage x;ravnaaace and spccnaiion by the hope
held out that proclamation jubilee would be made
10 free debtors for tie nc beng from The power oil
| ,hrir creditors.
H. thea this Baukrup, Inv 10 br repealed, let it
! he because II lnrxpcdcnl; because. such q "
sake do H., let Re repealed on the ground that II has
| nccompl shed the object Tor which il enacted.
| Mr. 3 sald he had manner Of doubt hnt that very
much OF the influence which was abroad IN The country,
nnd was brought bear the House at the time line
! bankrupt law was passed, that Of individuals, no,
if they did not then hold The sentiments advanced now
by his frierd from Vermont, were yet willing TO re
ce,yp the benefits If them other words, they W. r.
| wiling thn, Temporary law should be passed TO re
1--we them from their enbarass:nents 10 be repealed
or 10 xpre t!r tins they came tn be creditors He
prayed and brsone, gentlemen, If they meant 10 vote
Tor The rrnea tn put their vntss better grounds Than
thcsp of his friend from trrmen LIT The Iaw be ~
aeaIet If II s b. repealed, because II had law
hut d. mot rt bp rfpra'd because 1t was Intended as
temporary measure, and because IL hss inihleo is
object.
I'm, why shnnll the bankrupt law he repeated? lie
addressed himself 10 those who tad been IFS friends
What the greatest lection To the measure, III iis
minds q: intelligent men, al The tne OF rs passage
Was il brrausp Of lis retrospective operainn VIC
latng, iisr opinions, one of The provisions 81 ilr
Cnnsiitu;ion by rpaTlng Inc obligation at contracts.
rGa ohi"ciinn now almost removed The !ircr ni
the bankrupt law IN regard TO old cases was almost
! sppD,; aud IL 8buut 10 cuiDn:rnce its most
Wholesome ard ben, fceni functions, by operating on
cases which have ARISEN since lis enactment fhe
constitutional o! jcon was, therefore, longer
force
After come fnnher remarks from alr. B showing
The benefits derived and 10 h- derived from the bank
rUp Gci, he cocilntd bY moving 10 cn,lut me OIL 10
the Committee on The Judiciary, with instructions To
bring in hill to repeal that part Of the law providing
for voluntary bankruptcy and 10 provide that this shall
take place eighteen months from the passage OF the
ac:.
Mr. B said The House aware TINT, in the other
branch of Congress- resolution had been adopted call
ing upon the Secretary o! Stale for information in re
aton to this subject and he hoped that The f!ouse
nud all till that Information received, and rot;
BY p-ecipa!e legislation, run the risk of committing
en- net al cruelty and injustice.
MIR. C. J. iNGERSOLL said he should like 10
move the adoption OF Instructions 10 the committee,
in case the bill were referred TO their consideration
He the refore the Char the following nsruc
tons:
"And that the said committee be instructed to report
bill excluding the voluntary provision from The pre-
sen. bankrup; act and including banks
M. BARNARD inquired whether the motion was
in order: 10 which
The SPEAKER replied in The affirmative.
Mr. C. j. lNGERSOLL modified his Instructions
by sik ng TIE word hanks, and substituting tie