Bradford reporter. [volume] (Towanda, Pa.) 1844-1884, 1865-03-23
THE BANKRUPT LAW.
with us.

age OF such bill have now an opportunity
of looking over the field, and of concentra-
ting their strength against it, For we may
be assured that another trial will be made
on more auspicious occasion, and it will
require all the political virtue Of our rep
resentatives, all the exertions of the friends
of honest Legislation, whether in Congress
or out, to withstand it. 1t is so easy to get
into debt, and the temptation is so great to
get out without payment, so many have In
Cured extraordinary obligations in conse-
quence of the superabundance of paper mon-
ey, the bill became so near law, having been
pushed with such vigor by debauched and
dissolute press, that we may confidently ex-
pect another great effort to carry it. Weopine
that it's friends in Congress intermitted all
effort in its favor during the last few weeks
of congressional life, with the view that by
the time of the meeting of the next con-
gress, the ranks of debtors will be SO aug
mented that more force will be in store for
the crisis, and a longer and louder wall
will go up from the poor but honest debt
Or" to those in power. 1t does no dispar-
agement to what we already knew Of hu-
man nature to suppose that it has purposely
been left with this view, and that between
the adjournment Of congress and it's meet
ing again in December, millions of dollars
of debt will be made with the expectation
that a bankrupt law will pay them.
The history of the bankrupt bill passed
at the commencement Of the administration
of John Tyler is pregnant with instruction,
and we respectfully invite all men at this
day TO study it. The accession of new
party to power, the certainty that loose
system of Legislation would be adopted, a
great party mad with the cry for United
States Bank and the distribution Of the
sales of the public lands, and at the in-
stance of foreign creditors, the assumption
of state debts, and the positive certainty
that neither of these measures could COM
mand a majority in either house, invited to
system of log-rolling, and gave to third
cabal intent on the passage of bankrupt
law an opportunity for efficient action
The records of Congress show that three
bills were early introduced-a bank bill,
! bill to assume state debts. and bankrupt
/ bill, and no one Of these three had the power
of independent action. 1t was agreed
/ among the friends of these three measures
! to help each other on, but one could not
trust the other. If one was put forward
step, it must halt there and all hands go
back and give those behind lift. The
! bank bill which more than all other en-
| bodied the dear love and life of our side of
| the triangle, was put out of its place in the
| front to give room to the bankrupt bill to
| forge ahead of the rest-through all, it
kept that place and came in first under the
whip of that most accomplished jockey
Robert j. Walker, of Mississippi whose
state was insolvent to the tune of tens of mil
! lions of dollars Now here is a fact to
study This bill which most were afraid to
touch, which was most condemned as being
| unjust, and which all knew would be un-
popular after serving the ends of the grea-
test scoundrels in the nation, went forth to
the people as the first, and greatest, in the
long list of relief measures which the public
was promised in the memorable campaign
of "Tippecanoe and Tyler too" and Evan,
Van, is used up man."
This measure we here again state and
challenge the contradiction-this measure
held the passage of the U. S. Bank bill in
its hand, and permitted its further progr 2ss
only on condition of its own way through
where there was clear majority against
it. This measure which addressed itself
to the lowest and basest feelings of a de-
praved humanity-which invalidated the
the most sacred of contracts, and offered a
reward to per jury was characterised by
Mr. Benton, Gold Bullion we mean and
would that he were there now with all the
fire and energy of his early years. as a
bill for the abolition of debt at the ariH of
the deJtor," and by Mr.. Calhoun, as a bill
that would destroy any administration,
and blow this sky high" 1t became law
of the land in July lS41, paid millions of
debts, permitted those for those whom it
was enacted to blacken their souls with the
foulest perjury, and when the party passing
it could live under its load of infamy no
longer was suddenly repealed by the same
men who voted for it, and by the same Pres
ident who signed the bill enacting it, after
a disgraceful existence of a year and a half
It's repeal was the work of the people
they rose against it in masses, petition after
petition, resolve after resolve, instruction
after instruction, piled the tables of
members, condemning, instructing, COM
manding, and this abortion Of dishonesty
and dishonor was swept from the statute
book where it should never have gone. 1t
was placed there as relief measure, but
the people, more honest than their repre-
sentatives spurned it as an infamous thing.
1t is hoped that the present administra-
ton will not dare to touch it. 1t is true to
be sure that bankrupt bill is constitutions