New-York daily tribune., 1843-01-31


IS know fashionable d-nounce this law and thoss
have taken the beGett oi IL has come 10 be maiie
scorp. has touod relief through is provisions
Bet how this cpinoa sustained by the oHicAi records
an JUDGES district oi the uiled States
have recently made reports TO government Al
and w!e Is their testimony la every Instance boi one
that It's effects have been most saltarythat us provisions
BEEN Ike protection OF The dishonest, but OF ! {
nnfOuuate bore down by canes that they csuid pot con-
troia.en whose houor prudence have not been
called question. The whiriwni up the ssouies
oaks py The u which wisdom cc1ic
ioresee-no discretion aside The rich and The poor
The and The oosh-the homes. and the ishoGest-aI
wsr, swep, away Ii e-ef law called FOR, tnis
one-if ever Law saiu,ayy, this sase nay
,eron the information conveyed by tic reports esnd
linz frr the siiIeren District Judges Judge Bets the
New York Southern District deciarrs IN lice strongest ian
guage in very lew has BEEN used as cloak oT
fraud bui and many an honest heart has been cheeed
and gwen again labor Tor 5enrt OF his family and o
country This conclusion confirmed from every pan
of hs United States eIcepa from Virginia And Why shouid
surprised this report from Virginia! We know
the losg Struggle which has been bad ever since The
adoption OF The CoussIuoc os Bankrupt Law Tie So1ib
seeu uniformly ouId IN opposition II has been de-
fsa,ed again and again by Sorpern votes And Why! Il
is because IL law eGEenily aPpsrtaning 10 coaer
cja mechanical aud manufacturing Community, that II
draws upon Itself The opposition oil the Souh The
Planters feel that IL necessary c- lhem and IS sui
Noheru .rade-Northeru i,sr-ta. Norlh. This
why opposition 10 this sau,ary aw always proceed
Jag from the South
HIS E1eeeney tells rs that when lie Constitutios
adopted The meaning OF bankrupt law " Well under
5000 br, that this Is an insalveRtiaf wish his EIcee
cy had told then understood 20 be the an!pg
of bankrupt law dIstisct from rselvsn law he
would have solved problem Tor whish the profession
vopli hzve been grateful him. Oae which Marshall cen
css-d he could solve What wasii Was II law es"-
ts!n;og clause discs spg the ae6t hs Essil.h statutes
OF Bsukrup;cy, from Heny VIII 10 Ana, contain no such
feature Ii The sh and 9Th of Ann tsa hrSt inserted
clause disehargsg ihe debt %ss law which coud ee
pa, by cre,oe only and moi oy Inc teo.ot
The English Bankrupt laws have The voluntary isstcre
our laws have always had THIS feature, ao
debtor 10 insigate proceedings well as tie cecoI
Ibis solstay feature therefore destroy It's CHAR
zcer asa Baakrupilaw. las confined 10 ncTcsanis
and trades The Executive seemed 10 nStnua.e ihe .s
Engiisii Baukrup, aw-the OF the series
the law of Henry VII, applied alike 10 all ASK ier some
one feature wlch Bankrupt law, whca =
De- fou2d In every such isw ssd wnea ths
done The pgo5iees viii be soivsd-ihat Reancs ascef,
tsised Shsh His Exceilency tells well undestood
when tie Constitution adopted The people OF hls
State unscuuainrd With such laws In l1S law
called aa Insaven;iaw passed The Colonial Lesatrre
eniaoeS III. 770 aad teen expired by us OWE iiaea
In alter the SAFE NswYors early as li passed
general iaw called Iussiven, or Bankrupt law In us
was nate more aIt and precise and vas re enacted a2d
noea N 1871, 1911 and ISIS, until II rsiy .e
le1 10 aEieoyz the discharge OF the esor os hIs
own Peoh with The cocuTrence twohrdsof hs cred
ictS lnese laws coatan two great iestrrsshe vernt7-
SCI M uiouon by the debtor himself and the dis
charge o the csoior, and szepuea OF bis future eanins