The Somerset herald and farmers' and mechanics' register. [volume] (Somerset, Pa.) 183?-1852, 1847-09-07

JOHN WITT, Esq. President.
JOHN X. M'MLLEN,
i JOHN WA6NER.
i I'noMAs HANNA, So
! JEssE CRITcBrIELD,
! HENRY ScHELi,
CnRIsToPnER BEAM,
Vice Presidents.
Israel Rhoads,
Samuel NJ. Pile,
Peter Keiln,
jenkins Griffith, Secretaries.
The following preamble and resolutions
were then offered by Samuel W. Pear
son, Esq. and adopted unanimously.
Whereas, MARTIN VAN BUREN III 1927
! gave his vote in Congress for General
! Bankrupt Law, recommended such a law
for corporations, IN his Presidential Mes
sage Of 1887. and again in 1910 in ic'-
ter to citizens of New York, he admitted
that he voted for such law ia 1927, ae-
knowledging, 10 use his own language.
that san occasion of at least equal emer-
"gency for such law exists at this time,
"a the embarrassments caused by the per-
/" nicious expansion OF the currency and
:. the consequent facilities Of credit and
''rash enterprises, which have unfortu-
'' natelv characterized the last few years
"ARE such as to render an interference of
ssthis kind CONDUCIVE, if not ABSOLUTE
ely NECESSARY TO THE PUBLIC GOOD.
"woULD THEREFoRE HAVE UNHEsITATING-
"LY eo-oPERATED AT THE PASSAGE OF
"sUcH A LAW, properly guarded against
i" frauds and so framed as TO secure the
"ereditors the present estate of their debt
% ors, when The latter were discharged
from their obligations"
And whereas, Col. r. M. Johnson in
1927 voted for a Bankrupt law in the Sc
nate. and on the 18th January, 1899, in
letter written from Washington, declared
that such law should he enacted. sits
provisions to extend 10 all classes Of eve
"rr p ofession, ,iavo unary as to merchants
!" and voluntary as to Others" that it
"suouLD EMBRACE ALL CLASSES EXISTING
AT THE PASSAGE OF THE LAW, as we'll
"a as all wi ich may happen in future"
And whereas, MessFs. BENTox, Sena-
tor from Missouri, NoRvgLL OF Michi-
gan, WALraR Of Mississippi, STRANGE
of North Carolina NICHOLSON oil Ten
nessee, VALE Of New Jersey and many
other prominent members of the Locofo-
co party, in both houses of Congress E.
qual!y with, If not more slrenuously than
the Wings. urged the passage of such
law: Mr. NorvelI declaring lIat mo meo-
:. snrc, 40 combination Of measures that
zee ran afop'. wopid c63rd one ienh
"pari Of The reiicf 10 Me country whjch
+" ,cW be secured 10 II by The passuge Of
ga uniform iatr of Bankrupfcy."
And whereas, The people of Pennsyl-
vania. New York, Michigan. New Jer-
sey, Massachusetts, Maine, New Hamp-
shire, Ohio. Indi4na. Illinois, Tennessee,
Mississippi and Alabama, by thousands
Of petitions, and Maine and Michigan by
resolutions of the Legislature, prayed for
the passage OF Bankrupt law during the
session Of IS39-'40.
And w .ereas, The passage Of such a
law at that session was postponed until
the next session. in accordance with the
urgent efforts of Senator Benton, who de-
clared that "Five hundred thousand vo-
- ters demanding the passage Of law on
:. the eve Of an election, must have an IN /
Z" fluence on the hopes and fears OF the
" Iawgiver, as well as OH his Judgment
" and conscience
And whereas, When the Wing Con-
gress of 1871 assembled, and the votes Of /
100000 unfortunate petitioners were no |
longer needed by the Locofocos, when il
was no longer necessary or profitable for I
them to pav the hearless demagogue,
the passage of a Bankrupt law devolve,l
upon The Wings and few Of the honora-
ble' independent Locos, among whom was
Walker, now Polk's Secretary of fhc
Treasury, who said on the 20. July 1871,
j" If this law was not passed, the thou
!" sands of unfortunate debtors in this
country, would either have to wear the
!" chains OF the slave, or become exiles
:. from their Native land
And whereas, During both the Sessions
of Congress at which The Bankrupt law
was. passed and repealed, only 2,l33 pc
iitioners asked for its repeal, l,205 for
modification, 1919 for modification or
repeal, AL for postpouement, while
AZ, 100 demonstrated against repeal.
And whereas, 1t is manifest from the
whole history of the passage of the Bank
rupt law of 1871, that it was not party
question at all, but was supported by pro-
minent men Of both parties.
Therefore Resolved, That the infam-
Gus conduct of the Locolocos IN charging
upon the Wings the sole authorship of
the Bankrupt Law, and especially in cal
ling Gen. Irwin lis father, is unequalled in
its foul mendacity and base hypocrisy by
any or all the reckless charges ever made
by prostituted press and party against
poIifical onponents In this or any other