Daily Democrat and news. [volume] (Davenport, Iowa) 1859-1864, 1862-04-01
y nANKRUPT Law.

~. ara told that it is wrong 70 so'
xoo,,e . general bankrupt law, from the
fact that .uch law is Of itses wrong ;
that i. i. the duty of every nan 70 p'y
BIZ. honest debt., and thai unless ne .a'
do 20 he should never De permitted 70
hold . position whe,- he can make 'u..
Their accumulation, for his own oe0eu'
~ .'l, than . obtain his daily bread
7, other v.rds, we are told that the
law of ri.nt and justice centemp'ates no
.ucb plan as one that will relieve q
ns.on from his just obligations. we
cannot 90 see it. As we'll might Ne
claim that there should have been nc
plan of salvation wrought out, whereby
man, who had forfeited his claims on
eternal happiness, might be saved. But
we need not 90 TO any higher authority
than our own nations Constitution to
End ~arranty for the justice OF bank
rupt law. The authors Of that docu'
mcnt granted express powers TO Con
grcss 10 establish "unlform laws on Inc
subject OF bankruptcies throughout the
United Sta,es;" and when they did So
they undoubtedly supposed that the
power was not only Of sufficient import
ance to be thus granted, but that 1t
would he an act of justice to the com
me,ci,l and individual interests OF the
country. and that the beneficial charac'
ter thereof was such that 1t out TO be
exercised.
Twice during the history Of our coun-
try has the power been carried into CT
feet. and we must coLfess that on both
occasions the law became exceedingly
unpopular, and was Of but short duration.
But this was principally on account
of object Jnable features in the construc'
ton Of the laws, which might be easily
overcome.
We believe it not only to be the night
Of Congress to enact general and Jn-
dcious bankrupt law, but that the time
has already arrived when it is its
duty so to do. The present condition
of the county demands it. The whole
land has been overswcpt by general
calamity which has brought most Sc
rious mistor,uues to individuals OF all
classes. They have been forced into a
position by thousands and hundreds OF
thousands, where they are totally unable
to meet their Obligations. No power OF
their own could have averted the storm;
they are culpable for no Encouragement
Whatever. 1t is no crime that men thus
overtaken are unable to pay their debts
they have been swamped 10 business by
causes far beyond their control. Anc
for this shall We say that they shall be
compelled to struggle on through life
with the chain and ball Of debt fastened
to their feet! Do sound morals, politi
cal economy, reason or justice say aye
Let not the ambition and energy OF the
country be thus clogged let not ou'
best merch ants and most active men be
thus crippled for life, when the passage
Of reasonable bankrupt law will enable
tbem to rub out the slate, and with free
hands and active determination COM
mence the battle of life anew. How
many mon are now painting for chance
to begin somewhere, Kind friends stand
ready to start them once more bot, no,
they are in debt, and being in debt
must be kept there without shadow
ct possibility OF ever being able to SET
ou,. Not only individual interests suffer
by such poiitv, Dat The entire lnercan,
tie Interests of the !.,.l are kept clipp.co
down " i. Tee are extraordinary
times and extraordinary measures arc
required, ana among these may be
counted General H.nkrup. Law.
"Not " hipped Since Dinners"
'Enn Nav n i,,,,