The Charlotte journal. [volume] (Charlotte, N.C.) 1835-1851, 1843-09-26
From the Nashville Bdnaer.
DEMOCRACY AND THE BANKRUPT
LAW,
FAcrs FROM rue RECORD.

wards the Bankrupt Law, Is almost without!
a parallel in elfroniery and deception. Pri.
or 10 1910, the records of the country show
that both parties favored the enactment of a
Bankrupt Law. Among ITS warmest ad-
vocaies were the very "pillars of The dem
ocralic party" The attempt TO give it n
party character, originated after the law
was believed to be growing unpopular. -
We will prove that Martin Van Buren,,
Thomas II. Benton, Senators Wall, OF New
Jersey, and Linn, of Missouri, Col. Rich.
ard NJ. Johnson, Ey Senator's Noryell, of
Michigan, Strange, of North Carolina, and
Nicholson, Of Tennessee, Attorney General
Butler, of New York, Alexander Ming, jr.,
Of New Y ork, Senators Walker, OF Missis.
spp,, aud King, OF Alabama, and Ex-Secfe.
tary Levi Woodbury., were among the no
ted supporters Of Bankrupt Law prior 10
Is40. A Democratic Senator made
the first movement on the subject at the
session Of 1910. Democratic States
aud State Legislatures, were conspicuous
10 sending on petitions praying the passage
of such law Democratic leaders IN
Congress, in turn insisted that "pubIic o.
pinlon demanded it," and in short, the I" de.
mocratic party" in Congress, were fully
committed TO a Bankrupt Law. These
things we will now proceed to prove, from
the unerring records Of the country.
First, then, as to Mr.. Van BGren-iu
1927. whlls, Senator IN Congess, he roted
for q Bankrupt Lara law retrospective
in IFS operations, and 10 use the language
OF Col. johnson at the time, giving +" re
lief" only to privileged orders and re-
fusing 10 extend ITS advantages "to the cot
tage as well as the palace. The Journal
shows that Mr.. Reed OF Mississippi having
moved an amendment TO The first section
of the bull declaring that nothing contained
10 that section, nor any other provision OF
the bill, should extend, or be construed
TO extend to any contract made before the
passage and PRONUNCIATION Of this act" II
was rejected, and among the votes record !
ed against, land Of course in favor of the
retrospecnre teature) are those of Martin |
Van Buren,, +. Il. Benion, K. NJ. johnson,
W. X. King, aud Levi Woodbury.. Mr.. /
Van Buren, even went so FAR as TO make
speech agains. the amendment; {See Con. /
Deb, Sd vol. p. 1897 thus sustaining with
all his energy the feature canceling debts
contracted before the passage of the law.
The 93d section of this bill extended its
provisions TO all classes of citizens. Mr..
Van Buren, was unwilling to extend them
TO any but merchants and traders, and mode
speech agains, the 93l section. To his
remarks Col. r. NJ. Johnson replied, and
from that reply we append an extract:
Mr.. J. observed, that he should vote
for the bill if The section under consideta.
ton were retained; but be certainly could
not, il it were struck out. The gentleman
last on the floor (ur. Van Buren, was one
Of the committee, and il was the frs; time
be had heard that gehileman's opinion was
adverse TO this section and be felt as much
regret as surprise at discovering he was q
gains. it. He thought that, if this bill we're
applied to one class, il should be 10 another.
Ii they passed this bill 10 alleviate the
suffering of merchants only, it would be
partial law as regards the other classes
The vivifying principle ought not 10 be con
iaed 10 any privileged order but The relief
and advantages held forth in the bill ought
TO be general and unconfaed, and their
good ELECTS be dispensed 10 The cottage as
areH as 10 the paiace and unless such was
the nature Of the bill, be could not vote
for IL"
The bill, with this SECTION retained, fail
ed-an1 motion 10 reconsider being made,
Mr.. Van Buren, remarked:
He had, during the late discussion, d.
rec'ed his efforts against the nineiy.ihird
section, and the vote given yesterday had
fully shown the Senate was opposed to such
system. He had been constrained BY
that feature Of the bill 10 give his vote a.
gainst II. proposition ~as now made, on
the part oi the gentlemen who had hitherto
supported that section, 10 strike il cut
They had made an dyowal that they would
abandon that section altogether, and thus
be M. Van BUREN, had no alternative
left: be must be 10 favor Of the oil, when
the only clause TO 'rhich he had originally
objected icos TO be erPunged.''
hN A4tf "tAs it(1tte4SCItD. WI jill Du-
rem vo:Ing for The reconsideration, and a.
galn pui upon lis passage, aud rejected, 81
TO p. Among those voting Tor the pas.
sage stands the name Of Martin Van Bu.
rem. (See Con. Deb. vol 81, .. 2ss. -
Thus, it is shown ihs, 10 1927, he voted for
a Bankrupt Law affecting contracts made
before the passage Of the law, aud extend
ing Its advantages, In the language Of
Col. Johnson, to privileged order" whilst
they were withheld from the tenants of the
cottage" 10 1897, be recommended the
passage Of Bankrupt Law including cor.
poraiions 10 his annual message to Con-
gress-as follows:
From Mr. Van Buren's Message, 1887.
" la the meantime, it is our duty to pro
vide all remedies against deprecated pa
per currency, which the Constitution ena.
bies US to afford. The Treasury Depart.
men', on several former occasions, has suc-
"A