Virginia free press. (Charlestown, Va. [W. Va.]) 1832-1916, 1843-01-12
THE RANKRUPTLaw,

/ IA correspondent Of The National Inttliigencei
fwfiting from Acw York, uses the following for.
lcible reasons against repeal ofSlhe Bankrupt
Law al present, which are entitled 10 great weight
/ -c1editors. he SAYS. now begin u see its good
Il prevents undue credit, and This should
please the hard money men il they are sincere
IItprevents assignments Of preferred lcreditofs
lofisn fraudulehlly such
h u does away with the conflicting bankrupt
laws Of The States, and puts all on a footing d
lsqualilY:
II, ensures ! fair dividend Of the effects Of The
failing debtor:
II allows he creditor to compel falling debt.
or 10 90 into liquidation:
IT is the exercise of most benign power of
| the Constitution, the only one which has been
nlexercised by our Representatives:
II extends the projection. Of the Laws 10 a VAST
class Of our citizens who are entitIea 10 dome
consideration under the Constitution as well as
The more fortunate. The laws should not BIZ all
made for The rich.
The Madisonian contains the following from a
correspondent at New York, and SAYS hat pub
lie opinion is decidedly opposed ID The repeal
The writer says.
III mingle with men Of business daily--inep
who owe nelhing, comparatively. who sell
largely on commission, who guarantee their
sales and assure you, in al honesty. hear
vety, very few, who do mol deprecale he feneal
oflhe present Bankrupt Law, 10 be thrown bnek
upon The old relation Of debtor and creditor sub-
ject TO all sorts Of stop laws and pTeferences.-
There are many who think The Law needs amtnd-
ment.n
The CONCLUSION at which he has arrived is,
that, If New York were put TO The test. scatcely
Voice would be raised in favor Of lhe repeal
Of The Lar, while thousands upon thousands
would be loud 10 their declarations -aeaios, ils
repeal. M
The Richmond Wing thus speaks On The qaes-
ton of an immediate repeal;
The Bankrupt law has escaped ihe Summary
fate which menaced il, and It's repeal is saore
questionable Than il was Niemo:iais protecting
against its repeal are pouring into Congress host
extensively signed, while he petitioners against
i are much fewer in number The assnmilion
that The public voice demanded lis repeal, sp-
pears 10 be gra,uious al least. Ie fact. i, fi.
cult, II mol impractcabie in case Of the KIN ].
where public sentiment cannot be tested all,he
P1llss 10 tell what that public se4linens IS !: and
psI,{ans represent il yarously, according 10 heir
bihs.E nne pnstulale may be assumed without
The fear 81 ilscoireclness being challenged. that
Instability in legislation, is posAfve md gflev.
aus evil. 1t were better 10 bel condemned 10
live under bad laws than under Il ws peFpetpslly
shilling with every breeze. as Ibis Or that psfIy.
orlhis o. atparty leader. acqDirea aiemparafy
ascendant. Much has beea charged npca Ibis
Wing Congress BY its political foes ali ineeed,
that was vile land nnpFincipled. hal a0IhinS las
been charged much less proved. that would 5isily
delegate somuch from lis reputation FOR wisdom,
aslio repeal lis own measures before timel had
tested their merit 1.-The want oft.
Ve-should be sorry To- see a Congress which
has deservedso nobiy, incur he repFoaeh which
mast ensue either Of rash aud ignorant alton
ia he FIRST place. or Of fckleness, inepnslanfy Or
fright in ihe last We are DO frends.d The
Bankrupt laSsr bat We are still more hestle 10
i1ssshle legislation, which IS demonsaably more
pernieious ihhn any Bad law.