Boon's Lick times. [volume] (Fayette, Mo.) 1840-1848, 1844-03-23

|
remedy with the claims of Justice and hu-
mainly, and to guard, with equal care, the
rights and interests of both debtor and
creditor. It's intended TO act both retro
spectively and prospectively." See APP
Con. Globe, p. 462.
Here we have complete outline of this
Democratic bill, which Mr.. Benton tells us
is the true basis 1t proposes TO establish
IAN uniform system of Bankruptcy" to OPP
crate alike on "debtor and creditor" to be
voluntary" and Involuntary" and ito
act both retrospectively and prospectively.'
In other words, ii was in principle, and in
practice, precisely the bill which the wing
Congress afterwards passed Yet on these
very grounds is Henry Clay shamelessly
assaied by men who no doubt at the time
agreed entirely with Mr.. Wall
We call particular attention to the fol-
lowing language on this subject, uttered by
this same Democratic" Senator Mr.. Wall:
1.-THE country demands that relief of
Congress which they suppose they can
consttutionally apply. They have in nu-
mcrous petitions, clearly and explicitly
made known the remedy which they sup
pose can and ought to be granted. 1t is
the passage Of an uniform law on the SUBJ
ject of bankruptcy"
But even this, much as it is, is not all.
The same gentleman said, on the same &C.
casion:
"The first movement on the subject of
bankrupt law, made during the present
session, proceeded from my honorable
(Democratic) friend from Michigan, (Mr.
Norvell) He is entitled to the
merit, whatever it may be, of first pre-
sentng the subject for the consideration of
this body. 1t seems to have awakened the
attention of the whole country, from one
extremity TO the other There was soon
on the files of the Judiciary Committee,
ffty-one petitions, praying for the passage
of an uniform law on the subject of bank
ruptcy, twenty-nine of which are from
New York, five from Michigan, five from
New Jersey, two from Indiana, two from
Massachusetts,, three from Ohio. and one
from each of the States of Tennessee
and Mississippi. There are twenty-five
other petitions, praying for the passage Of
general bankrupt law, or using some
equivalent expressions to uniform or gen.
eral; fifteen of which are from New York,
eight from Pennsylvania, four from Hi
nois, one from each of the States of Ohio,
Maine, and New Hampshire, three from
Mississippi, and two from Alabama. Res
olutions have also been passed by the legis-
atures of Maine and Michigan, in favor
of the same measure" See Ap. Con.
Globe, page AGO.
Thus it seems Democrat" (Mr Nor
velD has the merit of first getting up this
excitement, which afterwards spread like
fame through the country. 1t was no
Wing movement; the Democrats claimed
all the credit. Let them bear all the odum.
Those who have been attentive readers of
this paper, or, indeed, any other, cannot
have forgotten that immense assemblage
in New York for the purpose of petition
ing Congress on this subject They can
not have forgotten, that Benz. F. Butler,
Mr.. Van Buren's Attorney General was,
with the exception of Alex'r. Ming, Jr..
the most conspicuous man on the occasion.
But let us return 10 Mr.. Norvell, the "Dem-
ocratic" Senator, who according to Mr.
Wall, first "set this ball in notion" He
made a speech in the Senate on the Goth
of May, from which we make the follow
ing extracts:
"Mr. President" said Mr.. Norvell, "my
deep conviction is, that no legislation, no
measure, no combination of measures that
we can adopt, would afford one tenth part
of the relief to the country which will be
secured to it by the passage of uniform
law of Bankruptcy" The process of
voluntary bankruptcy affords an effective
and lasting relief to the debtor, upon the
honest surrender of his effects for the ben
eft of his creditors, and protects his flu
ture acquisitions of property. He can be-
gin the world anew"
"The vivifying principle of relief ought to
be extended to all; to the cottage of the
farmer and the humble dwelling of the
mechanic, as well as to the princely palace
of the merchant" Again: mo benefit could
accrue to the nation from bankrupt law
merely prospective in its operation on flu
ture contracts" THE Supreme Court
has also repeatedly decided that the power
to pass bankrupt laws Retrospective in their
operation, was constitutional" See APP.
Con. Globe, pages 1915.
If he had been making speech in favor
of the very bill actually passed, what more
could he have said?