Lynchburg Virginian. [volume] (Lynchburg [Va.]) 1829-185?, 1843-01-16

ton to power Of men By wh'm the purpose IL give IT the
ofin and free law Is distinctly avowed? llomoge
in principle and concentrated in action as the Io
cooco party may pretend 10 be- apparent that it is
composed Of many dlscorlan and hostile e.ments,-of
which this asowed purpose the part 81 lie Northern
wing Of that patty subject State corporations tho
control Of the Federal government. in the abused Of
State Rights, though not heretofore standing very pro
mncniiy hfward on the canvass, is by means the
leas, significant and portenulus. But have room
10 dwell more at length upon this view Of the subject.
As u the Bankrupt Law itself, have, from the
first, proclaimed our opposition To it, and while we
less that less s5Icitous for lis reDea Than
we were originally for its rejection, yet hope may
not be PERMITTED to remain upon the statute botk.-
That ii has done much good. in nnshackling honest
who would never otherwise have recovered from their
misortunes but who do intend to regard their legal
release acguittance from the moral obligation to
pay their debts. well assured but are just
well satisfied that it has done mischief, by ndu-
cling dishonest to avail themselves Of its provisions.
who. whatever, may be their future resources do not
ucnd 10 pay any portion Of their former Indebtedness.
and by tempting many persons t. sponge their debts,
who, by year Of two of economy and industry might
have cancelled them in much more honorable mode
In this latter respect, we imagine, there is very little
to be apprchcnded from the operations of the law;
and hence there the es reason for It's repea-and il
might. too, be very well argued thai as law in pcrpct
ual force it would exert salutary influence in
confirming the credit system within legitimate aud safe
bounds. But its repeal is evidently demanded by pppu-
lar opnlon-and to that opinion in republican govern
man the public unconarics bound conform their
acton and therefore we l15k upon lis repeal the pre-
sent session, as an inevitable event.
Whether the bill be repealed or not. however, pro
test against It's being regarded exclusively a Wing
measure. We are we'll aware, and we have never de
MED, that the circumstances ,onnaced with the passage
of the existing Bankrupt Law were calculated tn i'm
press that idea the public mind but the truth is that
those circumstances themselves deceptive. as the
previous support Of Bankrupt system by the leading
men of the Lpcof5co party a5nnIantly demonstrates
How can any man object to Mr. Clay for example, and
yet vote for Mr. Van Buren, who in 1927, advocated a
similar law and whose then avowed anxiety for the es
Establishment ola system Of bankruptcy is this day uu-
recaned! How can they support Mr. Benton who,
notwithstanding his opposition To the law Of lSlO sup
ported IN 1887 law embo ylng all of its important pro
visions And we ask, still moro onphatically how can
MI Calhoun and his friends support Mr. Van Buren,
should no be the nominee Tor the Presidency of the Loco
foco National Convention, when he is now in favor OF
sueeng State Banks and other corporations the ope
ration ola bankrupt lawa proplstion which Mr., Cal
houn denouncrsas equally suhyersve of the constitution
and OF the rights of the States, and which, in the ner
vous language of Mr.. Plckcns, Sweeps away that noble
instrument upon which liberties rest" and which
would enable the Nothern and Eastern Banks io sue out
commissions of bankruptcy against the Banks Of the
= and drag them down to run?'' If the Bankrupt
, ,ssod -, 1'.'' be Objectionable, how much more to
be dreaded would be such a Ba'Nfop' La" as Mrssrs
Benton and Van Buren, would approve.
! We shall hereafter resume tho subject.