The weekly union record., 1865-01-14
The UNION RECORD.
0R0VILLE. SATURDAY, JAN. a.
A National Bankrupt Law.

That the country needs General Bankrupt
Law seems quite evident to the minds Of NOS;
people who have seriously considered the cues
ion, and who desire that the energies of our
people shall not needlessly be crippled and
crushed by the dead aud deadening weight Of
impending debts which circumstances render
t impossible to liquidate. The abolishment of
hat relic Of barbarism and cruelty, imprison-
nent for debt, was great step in the dlrec
ion named, and has contributed as much, per
|laps, as any cause, to human happiness and
he countrys wealth. 1t was a march in civ
lizatioD, which removed the pail Of the Prison
,ars from the face of the debtor behind which
|ie had been pining for light and freedom and
he power 10 sruggle for life with the great
world outside, while his family toiled, or beg
|yed, or starved, lacking his uushackled aid
That repeal broke the wheel of the malignant
|oersecutor on which his helpless victim was
|lowly but surely broken. A iudicious and
-herefore just bankrupt law, would do for the
comparatively few TO great extent, what the
,bolishment of Imprisonment for debt did for
be many. Such laws exist now. but they are
beither general nor uniform in application and
results, Properly adjusted, so that the honest
put unfortunate man by making proper
howing may obtain release from the debts
Which he cauuot possibly pay, but which hang
Ike millstoue about his neck, preventing him
rom ever getting start again in the world,
knd efectually paralyzing all effort for the ben
PIT of creditors or family, is worthy and nat
tral offspring Of enlightened civilization 1t
|hould be so carefully drawn that while it re-
|ieved honest men, swindIers could not take
advantage OF its provisions. Our present To-
bal laws upon the subject are probably quite
|enient enough likely enough too loose, of
which the dishonest take advantage to let
heir creditors whistle while they pass through
Court with all their debts cancelled, and i'm
hedately are in possession of the wealth
|ightlully belonging to the creditors whose
confidence they abused. We know Of not q
lew such cases in this city. A law that can
|bus be made to cover up property and re-
ease from debt, must be bad in itself or in the
administering. Congress once passed Gene
|al Bankrupt Law, which should have been
lllowed TO continue. Unfortunately, about
he time it had done what evil was possible
'nder it, and when its beneficial results were
ust becoming evident, it was repealed Last
'ear Congrese tried TO pass another. which
vas defeated by one vote. On the twelfth of
asst month the House of Representatives pas
ed bill for a National Bankrupt Law by
arge majority, and the chances are that the
Senate will pass it also. We may anticipate
hat lis provisions will be so drawn that while
Is operations will relieve the houest man, they
will check the Intentionally dishonest in his
lttempts to swindle With such law as
permanent one, every man will know more ex
Ectly what risks be runs in extending credit.
ind trade and business will be more regularly
Idiusted. So says the San Francisco Call.