Nashville union and American. [volume] (Nashville, Tenn.) 1853-1862, 1858-05-20
Mr.. ToOMBg BANKRUPT BILL-ANOTHER
MODE OF mRELIEYING TIE PEOPLE"

NODE OF ." RELIEVING THE PEOPLE"
Since the time the prince Of darkness assumed the
seductive guise in which he deceived primitive
mother in the garden Of eden, has been the fash
ion Of this world to clOths hypocrisy in the most
stiractiv gsr5 and put into her mouth the fsirest
and most winning words And notwithstanding we
By nature hate deceit it seems to be weakness Of
our nature to court it.
Dropping the figure and coming to practical IL
Illustration, we see q constant effort with the pen
sioners on society, The gamblers IN trade and trick
sters in life to create and keepuP the impression
with the industrial interests, that their every
movement is for the good Of the whole If unthrifty
proaigacy wants 8 fictitious credit, as a means Of
faening upon the labor Of Others Ceanors for banks
always in the name Of thosewhO have use for them
and have the least to do with them. If in the height
Of their bloated speoulstOns-their financial gamb-
lings upon the thrift Of others-they bring about
a revulsion which stagDates trade and leaves them
in want Of more credit with which to prosecute their
ventures, they cry out for new supply Of banks,
under the Ridiculous pretenoe Of relieving the
people"-the industrial classes, who never need re-
lief when not imposed upon, and who never find it
in any other way than by honest labor and frugal
habits. When, having pushed their sPeculatiOns so
far as to have brought ruin upon themselves and
trouble upon the country, they desire to escape the
responsibilities with which they saddled, they
begin to bemoaR, not their own condition, but that
Of "the people" and clsmOr loudly for their relief
We have arrived at this point just st the present
time, as indicated by the efforts that being made
to produce feeling favorable to the passage of an
other insolvent law, under the name Of Bankruptcy.
So far the proposition has met with but little favor
The experiences Of the stupend0us sWindle Of 1871
is too fresh in the recOleotiOns of the people We
we're graifed that the Committee Of the Senate de-
olined submitting any bill on the subject and would
not consent for the minority to do go which has the
appearance of being very decided rebuff. Yet they
have not dspaired and bill prepared by Mr.. TOOmBs
has been introduced by Mr.. BENJAMIN. We have
not seen copy Of the BILL but learn from an abstract
made by some Of the papers that it provides for
Bankruptcies, voluntary and involuntary-the first
intended to enable dishonest to get rid Of their
Just debts without paying them, and the last inten-
ded simply to give countenance to the first. The
whole thing is to encourage and relieve rascals at
the expense of honest people. All that man has
10 do under such law is to consume his property
gamble it away-Waste it in vice. prodigality, eI-
travagauce OF reckless speculation, for the law can
make no distinction between the vicious and the
unfortuuate-and thengc into court, surrender the
drugs if there is anything left and surrender moth
ing if there is nothing Left and then walk out dis
charged Of all MS debts by virtue Of act of Con-
gress, and without the consent of a single creditor,
many Of whom may be more needy than the very
man who is relieved at their expense.
-
there are no hereditary eststes-where few born
rich, and the mass Of the people make their own
fortunes? 1t is not simply property, but more the
capacity to create it-heads and hands-aud the
skill and industry to apply them. Yea, this is prop
erty itself What is more the property Of the law
yer than his professional the merchantmen than
his business-or Of the mechanic than his trade?
This is the property which most often gains them
credit, and out of which they are expected to make
payment. And yet the Bankrupt retains this and is
released from the credit that was given upon such
security.
But few in compassion, Of the industrial classes
would avail themselves of such law. Men who
make their money honestly seldom pay their debts
dishonesty, and seldom have occasion TO- Men who
are content with thesimpe wages of their industry
and gradual accumulation of wealth, seldom get
in debt beyond what they are able to pay. It is
generally those who, unsstisfed with quiet con-
science and a competency, take the chances of IN
certain speculations with the hope Of a speedy
fortune of of other peoples labor, that become
seriously involved beyond their capacity to pay :;
and it is at the expense Of the tOihng producers
upon whom they prey, that relief is given them
through the unblushing agency Of a voluntary
bankrupt law.
The idea Of legal bankruptcy grew out Of the
harsh and cruel laws against debtors which we're in
force IN Europe until late years Under those laws,
creditor could mprisOn his debtor for the term Of
his natural life unless the debt was paid. The
manifest injustice of this rule when applied to the
case of an honest but unfortunate trader led to the
invention of a safety valve, which called legal
bankruptcy by the aid Of which insOlvent, who
established his quality trader, could, on sur
render Of his effects and on proof Of his good faith
obtain legal discharge from his debts. That it
was a sensible. humane, and polite system, no one
who is conversant with the old common law Of Eng
land can doubt But in this country the case is
different Here we know no Imprisonment for debt
Here the debtor has no power to Cypress his credi-
tor the law furnishing every reasonable delay. 1t
is more the creditor who is at the mercy of the
debtor We wonder that such lawyer IS Mr..
BrxTAuEN would have introduced this bill into the
Senate If we mistake not the temper Of the people
they will put their mark upon those who show the
least disposition to support such measure.