On March 4, 1841, was inaugurated as President, Gen’l Wm. H. Harrison, the first Chief Magistrate elected by the Whig party, and the first President who was not a Democrat, since the installation of Gen’l Jackson, March 4, 1829. His term was a short one. He issued a call for a special session of Congress to convene the 31st of May following, to consider the condition of the revenue and finances of the country, but did not live to meet it. Taken ill with a fatal malady during the last days of March, he died on the 4th of April following, having been in office just one month. He was succeeded by the Vice-President, John Tyler. Then, for the first time in our history as a government, the person elected to the Vice-Presidency of the United States, by the happening of a contingency provided for in the constitution, had devolved upon him the Presidential office. The twenty-seventh Congress opened in extra session at the call of the late President, May 31, 1841. A Whig member—Mr. White of Kentucky—was elected Speaker of the House of Representatives. The Whigs had a majority of forty-seven in the House and of seven in the Senate, and with the President and Cabinet of the same political party presented a harmony of aspect frequently wanting during the three previous administrations. The first measure of the new dominant party was the repeal of the independent treasury act passed at the previous session; and the next in order were bills to establish a system of bankruptcy, and for distribution of public land revenue. The former was more than a bankrupt law; it was practically an insolvent law for the abolition of debts at the will of the debtor. It applied to all persons in debt, allowed them to institute the proceedings in the district where the petitioner resided, allowed constructive notices to creditors in newspapers—declared the abolition of the debt where effects were surrendered and fraud not proved; and gave exclusive jurisdiction to the federal courts, at the will of the debtor. It was framed upon the model of the English insolvent debtors’ act of George the Fourth, and embodied most of the provisions of that act, but substituting a release from the debt instead of a release from imprisonment. The bill passed by a close vote in both Houses.