The Charlotte journal. [volume] (Charlotte, N.C.) 1835-1851, 1843-09-26

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TO THE puBLIc GOOD lWOU LRTHERE
FORE HAVE UNnESlTATlNGLY
co OPERATED AT The PASSAGE
OF SUCH A LAW, properly guarded
against frauds, and SO framed as 10 secure
TO the creditors the present estate of their
debtors, mhen fe latter ir,re discharged
from their obligations.
Thus II is shown that Mr.. Non Buren, Is
for worse Bankrupt Law than that which
passed Congress.
Now for Cox Johnson.
From the Raleigh Register.
COLONEL JOnNSoN'S LETTER.
City Of Washington,
January Is, ls43.
DEAR SIR Your favor has been re
ceived, inqurng Of me whether ! am in
favor Of a general bankrupt law. On this
as or other subjects Of National policy, |
am free to express my sentiments. While
il is necessary for the general prosperity
tina, each State should regulate its own at.
fairs so far as regards lis own local policy
and the special interests of It's citizens, there
are matters in which their relation arc so
interviewer, and their interests so identified,
that uniform system is essential 10 their
harmonious action and welfare. In the
formation Of our Federal Constitution, il
was intended that these points should be
specified, and their regulations " confided
10 the General Government. Among these
is the sublec. Of bankruptcy. In the firsl
article. 9Th clause, of the Constitution, it
provides that Congress shall have power 10
establish uniform rule of naturalization,
and uniform laws on the subject OF bank
rup;cies, throughout the United States. 1t
was seen by the iramers Of that instrument,
that the relations between the ciiizans Of
the different States, and especially between
the trading communities Of the different
towns and cities, would render q Uniform
system Of bankruptcy highly important TO
their interests. la this gran, of power,
the patriarchs Of our independence evident
y considered il the discharge Of sacred
duty and it is difficult for me 10 assign
any good cause why this provision has not
been carried into effect, unless 1t has been
prevented By clashing sentiments upon IFS
details, as il cannot be controyerted by any
that bankrup.s, innocent, unfortunate bank
rupts, have always existed, upon which
such q law would operate and, IN my opin
ion, The law should be permanent and not
temporary. We are commercial, an
agricultural, aud manufacturing nation,
extending from the cold regions of the North
10 the Capes Of Florida, near the ,orrld zone;
and from the Atlantic ocean TO the sources
Of the waters of the Pacific. Through this
vast domain, and with their various pursuits,
bankruptcies must always exist; and it is
the duty Of the Government TO make such
provisions as will be calculated TO give the
greatest possible relic; that can be given,
consistently With the principles of Justice.
Congress alone has power TO DO this, and
on them the work devoises, not only as o
constitutional right, bu; as solemn duty
Both in private and public life have ever
regarded IT as paramount duty TO relieve
the distressed from every burden, as far as
possible, and especially TO break that yoke
by which none can be benefited, ard 10
soo!he, rather than break, the heart already
rent With the anguish Of misfortune.
1t Is repugnani 10 every principle of JUS
tice to regard bankruptcy as a presumption
of guilt In the fluctuations of trade, the
most honorable men are often its victims
and TO hold the person Of the debtor subject
10 his creditor, and 10 put his future liberty
or acquisitions beyond his own control,
when lie has surrendered ell, is to nlict a
punishment where there is no crime, nor
criminal tribunal TO investigate crime, or
10 prescribe punishment.
Credit in trade is based upon confidence
in the success Of him who obtains il, and
ought not in any degree to depend upon a
contingent right which the creditor may
claim on the liberty or The future indepen-
dence Of the debtor. Ii he chance TO be
successful, all that they can claim is a faith
iul surrender OF his remaining effects. Let
ham give these and begin the world again
What is the effect Of subjecling his future
acquisitions TO the seizure Of his creditors
II IS 10 siifls 10 him all spirit of en.erprize,
aud to bind bin and his family down 10 per.
peiual poverty, without the remo.est pros
pect Of benefit 10 bis creditors or TO society.
A punishment like this, without the convic
lion OF guilt, is too revolving 10 my feelings
TO give II my sanction and il never ought
10 exist in free or civilized country. Ills
said that dishonest persons will sometimes
avail themselves Of the benefit of a Bank.
rupt Law. So rnGailhful men may some.
times be elected to legislatures BODIES, and
crimes may sometimes be perpetrated under
the cloak Of religion. But would not re-
fuse relief TO the unfortunate, nor destroy
legislative bodies, nor strive 10 abolish
Christian churches, on accoun. of abuses
TO which they are all subject for the same
principle ID equally applicable TO all.
THIS power in the Constitution, is ioincd
with that Of naturalization, and with the
same benevolent object. Upon tia: Of nat
uralization, Congress has acted, and, 10 do.
ing 50, has provided FOR the oppressed of all
nations, 10 this laud Of refuge, the blessings