The daily Madisonian. [volume] (Washington City [i.e. Washington, D.C.]) 1841-1845, 1843-02-03
MIR. BENTON HEADED.

Mr.. Benton's great speech did not kill The
Treaiy-by the way we hear nothing more OF
that speech-and now it seems probable that
his opposition will save the Bankrupt law
Every day we see articles in tie leading Demo
cratic papers deprecatng its unconditional
rereal Mr. Cu,hing's bill, we expect, will
pass that event will be the last nail in Mr..
Benton's coffin.
But the Bankrupt aw-lhe last Neio York
Erening Post has the following article on the
subject:
What the Roman Catholic, enliyenng his polemics
with Jest, said to the Protestant who objected TO
purga,ory that he might 60 farther and fare worse
Is, we fear, true Of general bankrupt law Cred
tors object to H. because they say it takes away their
facilities for the collection of debts contracted before
the law passed. That may be but If we repeal
the bankrupt law, shall descend to the place of
relief laws, stay laws, arpraisement laws and stop
laws-an uncomfortable region and dsagreea5le
company.
We have no manner Of doubt that great deal of
the sudden zeal expressed for the abso ute repeal of
the bankrupt law; owing to preference for the re-
lief laws and stay laws OF the several States The
bankrupt law inerferes with the execution Of these
Its process is thorough and summary admitting Of no
delay, and directing the immediate sale Of the effects
Of the debtor and dividing the proceeds II super
sedes the relief laws which prohibit under certain
circumstances, all sales Of property; il supersede,
also the stay laws, which postpone the collection Of
debts. The advantage Of judicious bankrupt law
IS, that II gives the creditor asceraned aud uni
form method Of collection; the relief and stay laws
confuse and unsettle every thing.
Illinois has passed law, which lies before u.s.
enacting that all property taken in execution shall
be appraised by three persons and IT, on being offer
cd for sale II fails to bring two thirus Of the value
they afx to IT, no sale shall take place The act is
to continue in force for three years
Ohio has enacted a similar law which is 10 remain
in force until the first Of March, l645 II the prop
erty be not sold Tor two thirds Of its appraised value
the officer is to return that the sale did not take place
for want Of bidding
Indiana has passed relief law, similar We be.
leye, in its tenor though we have il not before us.
Missouri has ordered, by statute that the circuit
courts Of the counties and the St Louis court of
common pleas shall hold but two terms in each v, ar
and that all suits brought in those courts shall after
their issues are made up, be postponed to the second
term.
The lrojcct of stay law is aScS 4e Virginia
Legislature. ~
The Daily Keptuckian, prA kd at Louisville, az
firms that if the bankrupt law be repealed the pas
sage of stay law OF relief law, after the example OF
he neighboring States is inevitable.
Creditors therefore, will that in asking for the
asking for set Of laws, IN many Of the States al
Interests than the bankrupt law itself That the
bankrupt law, as II now stands, is bad one, is al
mosl generally admitted. That il can be amended il