Wheeling times and advertiser. [volume] (Wheeling, Va. [W. Va.]) 1839-1849, 1843-01-18
TIE BANKRUPT LAW AND Mr.
BENTON.

The course OF the father OF modern
loco locoism, and its present great lea
der in tho Senate, upon the bankrupt
law, is a striking manifestation as was
ever exhibited, OF total disregard of
measures or principles on his par t, and
an entire adhesion to party and opposi
ton to the wings, with direct reference
to elections alone. In proof Of this act
we have but to cite facts and occurren-
ces during the last three years. 1t
will be remembered that during the ses-
sion of 1889, 40, two bills were repor-
ted Oy the judiciary committee, emana-
ting from tho two political parties; one
by Mr.. Wall and one by Mr. Clayton
The bill ofMr. Clayton was limited to
two years duration, and, after denoun-
cling that OF NJ r. c. as partial and lin
tied in operation, he said Of Mr.. Walls
bill:
The other. chat 10 Mr.. Walls billy 10 q gene.
srs DILL looking 10 The rights Of creditors a. we'll as
10 the relief of deboTs-in ended for the future as
Wen as the present and pasI-app 'icable to corpo
railOns ne well 80 To persons-embraCing the com.
puisory as we'll as The voluntary feature; and ma
King provisions Ior those who are mol ms we'll az
as those who are. technically merchants and tn
den"
Another prominent objection urged by
Mr.. Benton against MFR. Clayton's WING
s6'If, and reason why he preferred Mr..
Walls Democratic 6i !, may be seen by
the following extract Of his speech.
There is to DO (ssid Mr. Benton, referring 10
Mr.. ClayIon's billy "a line Of division between The
debtorss horizontal line: those a5ovs the line are
TO have relief-thoSs below il are denied it, This
results from the amount which the debtor musl
owe IN order TO enile himself 10 the benefits Of
.iis provisions The bill provides for an amount
and leaves the sum BLANK Will the reporter of
the bin, ssid Mr.. B. addressing himself to Mr.
Clayton, OF Dela~sre) name the amount which il ia
proposed To insert
lMr Clayton said he had not been instructed 10
move particular SUN, but Eve hundred dollars
had been mentioned in the Committee
Mr.. B. continued. Five hundred dollars That
was the sum mentioned ia the committee, and no
other sum iS mentioned here. Five hundred dol.
lars must be conddsted, Then. the amount necss.
sary to be owed, TO Gntitle person 10 the relief Of
tbs act. Now, this is arbitrary and unequal: il
cuts Of the small dealers. the persons Of lIte pro-
perry the laborers 10 cuts them off from the beno.
RI ofihe act. and operates az an announcement T.,
are 10 be relieved; and the small ones nof II
mskes the act exclusive for large dealers and th.
contrary 20 The principal Of equality which is pro
fessed ip the bill, and without any foundation IN
FeanOn ard justice. The weight Of debt u relative
not absolute. IL depends on the amount Oi the
dsbIors property. and not upon the amount Of the
debt To one man. debt Of one hundred dollars
a. mach q hundred thousand or q nillion 10 |
70 another. To enc Eve hundred dollars is a. |
much a. Eve handred lhou'sad Is to another; and,
beyond question, the numsFous class oil
dsbiors 20 the United States those who owe
less Than the minimum proposed in this bill Bot
these small debiOs. numerous they are ars dis.
regarded and overlooked by the bill. They are 10
work out their debts IN sorrow and in misery, car.
rying their endless load TO the grave; while the |
dashgrS the large debtors. clear Out theirs by a
Seslafaiion and surrender"
Again, in another place, he adds,
'f'T'he bill Of the minority (Mr. Walls
bilD furnishes the true basis for tho an.
actment Of bankrupt system"
Here is the direct testimony Of Mr..
Benton on two points. First, that Mr..
WaIl's Dill furnished the true basis for
the enactment Of a bankrupt law, and,
second, ihs, il en- snsted from the party
q which be and Mr.. Wall belonged
he says the 1.-TWO bills emanatsd from
the t~o political parties which, u nder
whatsoever pames, have existed ia this
country foe fifty years" He also SAYS
the bih ofthe minority (Which was n e :
one emanating from the Van Buren,
OF self styled Democrats party" and {