The Democratic Whig. [volume] (Columbus, Miss.) 1842-1843, 1843-09-28


RSt tto ptrpt Of operating pra ne Il nb-
ton of Rep1diation. "a slleuab. i made % ibis
state by lh9 advocates AZ lllaf doctrine II 49,
simElaie ths late Bankrupl INV u that taa.
IRE. Their speakers and press are making the
most strenuous exsrtionbto create d prsBuaieo
on that subject and to GET up an excitement
against those, who availed themselves Of the
privileges extended to alI under this Inv. The
Inference, that would naturally be drawn from
the course pursued By this partts q that tbe
Whigs and bond payers generally we're the
only advocates pf the law, and ilg advantages
have been confined exclusively % them. Are
thesethe facts ofthe easel Let tlle numerous
petitions that were cent or from this Stale -
Congress. It the general continent Of The
country whenaIis ubiectGwns under sgitaficus
let the records ofthe Bankrupt courts and the
notices ID the papers answer. Let the Abet.
deem records show that one individual atleast,
ifnot more, conspicuous in the Regulating
ranks,made his application as q resident Of Ita
wanda, OF some other remote county when
the fact was known to the Judge oftho Court
that lie resided in an entirely different part Of
/. the State: and his Honor accordingly directed
| the publication Of his noticet TO BE- made in che
paper near his place Of residence. This is a
fact which we Learned from Judge GhOIson
himself
Prior to the year 1910, the leaders of both
parties in this country were advocates Of q
Bankrupt Law. II was never made party
question until IL began TO be unpopular, and
then the Loco Focos with that adroitness,
which has uniformly distinguished them IN es.
lcaping the odium Of an unpopular measure
have ever since been endeavoring to shift the
whole load upon the shoulders of the Whge
Previous 10 its passage at different periods o
their political lives, MIR. Van Buren,, Thona
), II. Benton, Richard N. Johnson, Levi Wood
i, bury, Benjamin F. Butler, and number G
, others, were the open, unequivocal and aVow
. ed supporters of this measure. This we cal
sustain by the records of the country. Dem
Eocra:ic legislatures instructed their Senator
IN Congress to support the passage Of such
law. When the subject was brought before
Congress, as strongly inclined as the Loc'
Foco party was to defeat the Wings in an
measure, which they purposed to carry into eff
feet, they did not then oppose the general pri
ciples of this act; but the only party question
connected with it was whether or not BankInI
institutions and State corporations should b
embraced within its operation. Mr.. Bento
aud the leading loco focos insisted that the
should be included; the Wings opposed this a
an encroachment upon state rights, and th
bill was passed without this feature.
4 AS individuals, we do not ourselves SEE tn
dangers, which were apprelended, from thi
encroachment, as lit was deemed, upon tn
rights of the States. We think il probabl
might have had beneficial influence in check
ing the tendency to excessive issues, whcl
State Banks have usually indicated, and com
peIling these institutions to comply with thei
corporate duties. That however. does not eff
A--l- e Ca IS -
extended. All. who will recalIto their mind
the Frustrated condition of the country wher
this measure was introduced in Congress, IN
distress and ruin, which pervaded every inter
est ofsociety, tho overwhelming load of debts
that had resulted from mania for speculation
with which all had been mare or less infected
and by which the fortunes ofthonsands cf tn,
most enterprising and Industrious citizens hat
been crushed and their prospects blasted, mus
remember that the general sentiment of The
public without reference to parties was in IA
yor Of the passage Of a law of this kind. The
country had been carried through tremen,
dous ordeal, its agony had heen intense, and
the only benefit. which could be gathered from
the sufferings and misfortunes, which It had
encountered, was dearly bought experience
and an improved judgment as 20 the proper d.
rection OF its future course. But TO enable il
TO derive any advantage from the valuable les
sons, which had been engraven on It's memory
by instruments OF steel, it was necessary 10
put into action the Frustrated energies Of the
debtor, and restore life and vigor to The indus
trial capacities of the country. Ii was recess
sary to strike from the debtor the chains and
manacles, BY which his liberty was fettered.
hls usefulness destroyed and his spirits hum.
bied to the dust and to restore him to society
relieved ola load. BY which all his faculties baSl
been paralyzed. This was the object of tic
bankrupt Law; and at the time Of its passage
no act seemed more imperiously calIedfor BY
the public voice or more important to the gem
eral interests OF the country, than this. On all
slueslt was considered not only humane and
mercifnl, but polite and salut4ryIaw. Such
was the opinion entertained Of fby the pres
ent RepUdiating candidate for Governor, Gen.
Albert @. Brown, notwithstanding that tho
party which supports him, endeavors nowsto
create prejudice against those who became
Bankrupts under the provisions 81 this law
The General himself with the came regard to
consistency. which he exhibits ID being tbs
champion Interpolation after having voted ior
Che charter, the elecdoa Of directors nf ths u.
Bank. for the additional loan 81 ten and balfl
millions and alsoafter having procured loans