Alexandria gazette. [volume] (Alexandria, D.C.) 1834-1974, 1873-02-28
For TIE ALEXANDRIA GAZETTE.
The Amended bankrupt saw-Its
Meaning and its Purpose.

the statute Of 1867 ard the amen iment pissed
June 5, 1872 known as The Bankrupt Law.
As Construed, this law cnacts that the cxemp'
tions allowed baukrupts shall be the amount
allowed by the Constitution and laws of each
State, respectively, as existing in the year
1871; and that such exemptions be valid against
debts contracted b.f,re the adoption and pas
SAGE of su:h State Constitution and laws, as
we'll as those contracted after the same, and
against liens by judgment or decree OF any State
Court, any decision of any such Stnte Court
rendered since the adoption and passage OF
such Constitution and laws, to the contrary, not
wirh>tanding"
Under the Constitution Congress his power
to pass bankrupt laws. Restricted, however, III
this and to this extent the law must be uni
firm in its working throughout the y. 5. The
bankrupt citizen of Maine or New York must
have the same rights and privileges. and have
the same exemption as the citizen of Virginia,
Florida rr California. The words Of III ns:ru-
ment are, shall hay" power 10 establish uni
form rule Of naturalization and unltDrm laws
on the su Ijcct Of bankruptcies throughout the
Un;t@d States" Congress cannot discriminate
between the citizens ot the States. | am not
aware that this language has been juGically
construed. Upon the subject the Fed r.l!st
says little, save that the cXpcdlency OF tn :
poser Is not IIk"iy To be questioned, but II
seems to me too plain to admit ot twJ luterpre-
tat on, or lwo constructions. That the power Is
pro, cr Do not deny. 1t may be bcnlgnantly
exercised Il may be abused and prostituted
TO bas ends l. Is no less the du;y Of legl>!a!..
ZION &, keep sacred the obligation of contracts
49,, ., - /; ,}oIf,rv
OF both mind and boiy.
This should hc the ; lie purpose Of all such
LEGISLATION. Ifti> Object be mt attained mt
ouly are tie laws useless but engines Of wrong
aud oppression.
The Court having jurisdiction soon becomes
Il tool in the hands OF Sultor> as bankrupt in
,norals aud homes rs in property and effects.
" lien passed FIR p0|itcW cuds and as cleo
tiouc ring schemes such laws are base aud the
body cnic:in-, blind TO duty and corrupt.
70: commercial people such Legislation Is
pccuiiary necessary; hence Indeed the very
narue-LnncuS rui,tuS JtOhcn banE Or c0nnter.
L. is lcuul IN ana was derived from Roman
law, and in JustInlus Code. called "CcSsio
L0norWn' Grated at IN early day upon the
jurisprudence OF Continental Europe. it was
cuIboAicd in the Common Law OF Eng and
apou, the time Of Henry VIII. Ofrhe innova-
ton lard Coke says: We hare .frtch"}" rs ~cfl
the nontc. as the ~iche,l"eSs n Jn"hrWp$ Jrom
fnrtiyn ant'"nS
rhcs9 laws proceed upon the idea that the
bauhruuf having surrendered his al to his
Creditors strips himself and is ready 10 enter
ay,in the arena Of life and contend ayun. for
the prize ,S~cr$s His property is gone. His
honor atrl Integrity remain un'arm!Shcd and
without cloud His fellow man takes him
gladly 10y the hand and he stands uobly IA
uan amongst men. The Court intrus ed with
bri.krrlpl jtlriSiictou should b. presided over
by Judge alb we rcproa h. all of good report;
learned and experienced In his profession, who
has drunk ieci ly Il: the pare touut ms Of Wis
dom and whose mind is flied with the prlnci-
pies. the philosophy and the spirit Of the laws.
For agricultural peoples bankrupt legislation
is seldom necessary. anu never advisable. The
immense lySscS. the general uphcavlng and de-
Stl,l.tlon ui land marks, resulting from the late
civil war more Especially in the States OF the
South demanded aud required wholesome,
wcIi-adviscd, and carefully considered bankrupt
law: and further that said law should be hon
c>tly and faithfully executed. y bankrupt law
was enacted in lSti1 Size. the have watch
ed lis workings: with my own eyes have SEEN
and in my individuality, felt it, effects. Ny cx-
pclicncc Is that not in one case, in one hun
drrd, has il been fairly and honestly executed,
and resulted in real benefit to the bankrupt.
Paylucut ot Dividend To creditors by ass. yncc is
the exception; the rule Of tn" Bankrupt Court
is the sick lion ; dcn-t.ic tracks 20 but one
way An hOuc.t full. and com lctc surrender
is also Il rar. thing luStc vi OF stripping for a
new race the declared bankrupt is as rlcthorlc
of property Is camp-!oilower after battle
Alas this class il our midst grows daily. TO
those who herctutnre have resisted bait is
proffrrcd tempt lton presented Already the
pumps of the Bankrupt Court are clnyasSing
the S att. s:ckiug clients in bycways and
hedges. Come say they: come to us We will
pay your debts and return you your property.
Come to the Bankrupt Court The feast is
ready. the table spread 1t is feast prepared
by the powers that be" Eat and be yc filed.
Amidst all our trials with ali the burdens
upon US, the genuine virtue, sterling integrity
and open honesty Of our people have been my
pride and my joy. The corruption and dishou-
esty of those holding high place is Il stencil in
our noStrils Corruption such as disgrace In
pcral Rome. dcbaScd her cltiz ms and crushed
her t. the earth, Virginia has escaped | fear
our people arc giving way-"cvl communlca-
ii II corrupts good morals. is Us true Of States
as of the individual. Had the General AS
scmbly never tampcred with the State deLt;
had the Constitution of lS67-'S been stripped
of its unconstitutional Homestead; had our
people never been dcIudcd with the idea their
private debts could be cancelled by legislation.
far better for them had it been. Fortune ia.
vors the brave" Triyiniu must remember the
past and never sully the record that has been
written in the b'ood Of her patriot brave. Her
honor is the birh-right Of her children the~
mhertuncc If We must say ''Fuit llium ct
ingens gloria Teucrorum God graut that we
may not add ''Fu mus 7rvcs.' People Of the
Ancient Dominion arouse aud put your arnIor
on n, longer sleep b. up and doing. With
one voice require the State debt to be paid.
Submit checriuy to taxation fpr this purpose
yea, though it be heavier than heretofore.
But there is no reason that this should be. r.
quirc your legislators to waste no more time; to
reduce in number both branches Of the Assem-
bly,; to rid you Of the oppressive and costly
township system by amcnd q the Constitution;
TO meet ouc: in four years to combine tie
County and the Circuit Courts; increase the
circuits ma Ike them more compact. and have