Vermont watchman and State journal. [volume] (Montpelier, Vt.) 1836-1883, 1861-11-08
LEGISLATURE OF VERMONT.

on ehc Senate b relating 10 insotrency and pioridang
foT the equal disfritut,on Of assets 70 creditors.
In the Senate, Tuesday, Oct. 70, A. NJ.
Mr. Woodbridge said he bad taken no part In the dis
oussion which the bill had created but In all the steps
taken towards its Anal passage he had voted for y
r.A bill of great magnitude. changing what had bcen
TIE settled policy Of the state in relation to the tgh
creditors and tho privileges Of debtors ne ae.n ,i
due to himself to give briefly Che reasons ,o3 oeeupy
commended itself TO his approval, but ne NVeil ~ ~
bat q very few moments IN giving ms g'i'''"' '
lation to II. An, .,...,,. n.
thought n vas sery marked Improvement on Neiy III
portaut subject in the progress OF the say W s ~
g., ~ Massaohusets upon the same matter, which had
hkc, teed lot many years, wherein various qnceuohs
hsd been adudcaed by the courts, and where by pract
es operation it had commended itself to the enlightened
mart of community 90. l.,
said to be relic Of barbafism IN the laws Of INC
We know that they had parayzed industry ihat tneS
kept a down at the period n life when he haa lu
powers Of sustaining himself They had sent men-and
Hundreds OF them whom we knew-toA bankupts grave
whereas II we had had then in practical operation tne
hr ane law which we ought now 10 pass. many would
b,ve be,n p~e.eryed honorable and useful members Of
society. Here had general assignment law where
By man when in difficulty might make general as
sgnmeu for the benefit Of his creditors one hat put an
end 10 rule TO first whoever ca ne hst which
had oten broken legitimate and thriving business
when men had been driven into Assignments Now II
the provisions Of this law had heretofore been In force
man when met by the vcisstudes u trade and the mis-
which often happen to business men could have
relief Under the present law, though man might be
disposed be considcTate for his neighbour yet he did
not take measures to protect himself some other man
might step in and prevent him from obtaining any part
fRis dues For this reason the neighbor JUSTIFIED him
self in attaching whereas Il the insoyent were leh as he
would be by this BILL he might pay up every liability
did not believe the attachment system worked Tor the
advantage Of the State for the interest Of the debtor
or the creditor. lie knew t said that we we're an
agricultural and not commercial peop'e-that our GA
law had become established the settled policy 81 the
Siato.-that il had worked well enough SO fat, and We
not being engaged in great business there
no necessity for change II was true that vermont
wa uf a
interests but she might cultivate that which of far
more intctcs, There was
no State m the Uuipn where there greater opporiun
ity for those great manufactures which c country re-
quircd We htd STRAINS running down from our hills
We had facilities for occupying greater amount of cap
iial than used Massachusetis, aud Induce
nents should be held out Tor men go come and occupy
these privileges There was but very hiilc encourage
meni for 10 come and invest their money 10 this
for though everything might go on swimmngy iot
awhile, yet when panic occurred no man Who had been
doing an extensive business free from disaster The
6rt thing man might know would be the presence Of
the sheriff IN his factory who closes his doors ana refuses
to allow him TO sustain himself We see Therefore that
there Is encouragement for TO put their capital
in operation. They could do II better elsewhere They
know that elsewhere they could act under laws that
would protect them lie believed that II We would de-
veop tho interests Of State II we would 20 forward
instead Of backward in populoton well rs In other
things, ought to pass bill Of this chArac,er Let
this bill be the starting point, and others will follow
Il had been said that as a State upon the
Grown Of the ages, where must leuve our mark.
He did not believe had yet reached that elevation,
not ba awards.
lie ldno believe that the policy Of vermonthad been
such the people demanded az her interests requir
ed. Bi Is hadbsen lately introduced affecting our ag
cultural and educational interests, which, IL passed,
would in his Judgment be frauph' with extreme mischief
which would work not advance but reuograde move
ment on the part Of Vermont.
But TO return TO this bill lie would suppose for
instance thN he should trade 10 day under
the present law and that obtained credit Every
who gave him credit had interest in his assets Bvey
mNnmust run some risk lie himself must run the risk
f.l tam
him As It happened he was unfortunate. No man cast
apesions upon his character lie might be considered
and attentive his business yet in the change
OF the mcshi means were slipping away and the ques-
ton came M, should he who sold TO him first, OF who
sold last take hi. due Obviously it was unjust TO do
do. The justice Of the provisions Of this bill
that man in business having acted with upright
intention every who had contributed 10 the business
Of that should have equal share ia assets. The
provision that you could attach, enabled man who
would be humane and act out his humanity 10 do So and
1t Murdered man who would be unjust and sharp
The debor INSTEAD Of being driven to the wall, was
enabled by assignment to his creditors TO work and
struggle still longer 10 sustain himself Each creditor
would get his proportion They would take their chances
with other business men, and one could not get the adj.
vantage II another II humane to the debtor and
relieved him from past debts aud there was no reason
why he should not be relieved II seemed TO him that
this Of the most just views that could be taken
in relation this subject The debtor might be an up
right man. but circumstances beyond his control had
barrassed him. and it became impossible for him TO go
further 1t worst merely Of his judg
ment and he ought not for that to be ruined Let the
had gone, and have just distribution That was the
way we should act towards our neighbours There wa'
not upOn the floor Of the Senate who would not bt
willing take his percentage when be found that tn,
debtor honest, for he addressing men whom he
knew to be men Of generous impulses. But it was not
always IL did not seem unjust for some people
take all that debtor has and the bill was Just because
Il relieved the debtor from this load and stimulated hin
further action He thought, far as the bill con
eerned it commended itstlf to every mind. IL po
Icy dictated by enlarged motives II not the polic
Of man who never made a shadow longer in feet thai
the inches he tall II might not be the policy Of tn
unjust creditor but II which commended isel
to the liberal, true-heArted II step in tn
progress Of humanity. IL was important subject,
subject which IN his judgment, to elevate Vernon
state. We were behind some OF sister states il
our legislation, only in this respect but IN regard
other things and he desired II should not be longe
The people OF Vermont were as high minded, patriot
and well informed every subject as any other peop
in New England the school house of the whole eounr
The policy sf Vermont generally liberal and gu
spoken, but in his judgment It was not so in relation
interest which the great 81 Vermont had be-
placed IL in educational system, wi
all our boosted intelligence. And he desired to beg
now in the day Of liberal things in this very year Of en-
commotion, when the social fabric was being shak'
from center to circumference In that ue in which We
mont ought to be characterized in the way os egsauo
Such Of his views. II relieved the debt
from the oppression Of prosecuting creditors II was u
to the ereditori IL working we'll where II had be-
adopted and il would work WE'LL II we reasoned up
this upon other matters II IL adopted here.
certainly business important as any that cot
come before the legislature.