New-York daily tribune. [volume] (New-York [N.Y.]) 1842-1866, 1843-08-15
Reputation and Bankruptcy.

Reputation and Bankruptcy.
The Albany Atlas with the real instinct O.
Of the Barn burning school to winch 1t belongs
comes promptly to the aid of its Mississippi bre-
thren in their attempt 10 cheat the creditors Of
their insolvent Banks. In commenting on our
expose Of Reputation in Blossom" the Atlas
represents the controversy in the Mississippi lie.
gislature as one respecting 6 the law dcpriving
the insoivent Banks Of their corporate powers. >:
Again. 1.-The Tribune and its associates appea,
to us never to feel the obligations Of political mo-
rality strongly as when corporations are assail.
ed This is the language either of gross igno
rance or deliberate knavery. There was no cues
ton before the Legislature involving the rights
or interests Of corporations. The Banks are
dead, and both parties in the Legislature are in
favor of winding them up; the only question is,
shall they be so wound up as to preserve the
rights Of their creditors, the holders of their un
paid notes, &c, or not The Wings said yes
the Regulators, no; the latter insisted that tb
bill should be so drawn as to strike dead at 5nc,
every obligation due to those Banks The
Wings were overpowere in the House bur rall;cc
in the Senate, were joined by the ',et,er portion
of the Loco-focos, and pre1aileH; and tn,
House had to concur or defeat the measure. AND
here comes the Atlas, Just.fying an outrageous
swindle, after It's very Authors have been shamed
out of it.
The Atlas bel. cs the Bankrupt Law and its adj
vocatcs, as IT'S nature prompts That Law we
know to be unpopular, but nothing can shake our
deep conviction that it was at once humane and
polite, mercllul and Just. 1t gave to the Credi-
tor all the effects of the Debtor and the Debtor
an opportunity to earn for his family
What would the Atlas have different from this
Must the unfortunate, penniless debtor remain u
helpless bondman for ever? Who is TO be benc-
fitted If he had involved himself by using
funds entrusted TO him, the Bankrupt Law did
not release him; if any dishonesty, any fraud,
any conceament OF property is Proved then
the Bankrupt's discharge is null and void. What
more Will nothing satisfy the Atlas and its
allies, but The hearts blood of the poor debtor
the last crust torn from his furnishing children?
But the Atlas asserts that debtors fraudulenty
cancelled their debts, yet retained their property
under the Bankrupt Law. Probably some dd
SO; yet this could only be by means Of the gross
est perjury. With this, they could have deraud-
ed their creditors soithout Bankrupt Law, and
been Just as safe as they now are since detection
in any fraud in the exhibit of their property will
nnnnl thor discharge The assertion tina,
the law was framed and INTENDED to favor such
fraud is one which no honest man could uuhe.
Nine-tepths of all the debts of which the legal
obligation was annued by the Bankrupt Law iac
been long due and could not be collected. They
were, to all intents, of no value. If otherwise
why were they not collected The legal remedy
on debt which the debtor Will pay when h,
chooses, and cannot be made to pay before is
worthless; it may just as well be annulled as not
We lost Gas the phrase goes great many debts
by Bankruptcy-all the savings of eight years
hard labor-and we were better off after than be
fore this consummaton. There can be no poorer
business than trying TO collect money of those
who can t pay 1t.
And now what analogy is there between Bank
ruptcy and Reputation In the one case the
debtor proving that he has 10 means of pay.
ment, is released from the terror of legal compul.
sion-pern!tted to plant and rear without dread
that another will step and take the lruit which
his family needs for its subsistcnce---thc moral
obligation 10 pay his debt whenever he shall be
able remaining wholly unaffected. He is liberia
ted on proof that he cannot pay. In the other
case, the Repudiator shakes his purse in the face
of his ruined creditor, ana boasts that he is able
10 pay but vii not a single cent. The mind
which can conlound these und sec no difference
between them must be incapable OF distinguish
ing honesty from fraud, misfortune from crime
g Hon. RICHARD d. DAVIS Of Poughkoepsie
was at Geneva delivering u Literary Address on
the 80, and took occasion to lecture the Loco
Focos in thatyicinity in Speech, good, OF course
US he Is able to make that sort Richard Tor
Dick as he Is commonly called FOR shortness''
took occasion TO say that he thought no Demo-
crat of the EalpIre State ought to think OF any
body but Van Barren FOR next President This IS
decidedly funny. considering that the orator has
been TIL lately himself a bitter opponent OF Van
Buren though belonging to the same party, and
was known as Calhoun man at Washington
through his frs; Session there Richard argued
thatan election of Delegates to their Baltimore
Convention by Districts would be contrary to the
spirit OF the Constitution, which prcScribeS that
the election of President shall be made BY States
This is too good.-He spoke in favor of the Tariff
rs a Revenue measure, and thought it ough, not
TO be touched save in a wlse cautious, prudent
manner. 1--we knew VIVA, he wouA consider
wise, cautious prudent, We should know what
thus means.
u One OF the staple arguments against a