Thirty Years' View (Vol. 2 of 2): or, A History of the Working of the American Government for Thirty Years, from 1820 to 1850Benton, Thomas Hart
History
Thirty Years' View (Vol. 2 of 2): or, A History of the Working of the American Government for Thirty Years, from 1820 to 1850
Benton, Thomas Hart
United States -- Politics and government -- 1815-1861
As a proposition, now limited to this particular case, I lay it
down that we are not confined to the modern English acceptation
of this term _bankrupt_; for it is a term, not of English, but of
Roman origin. It is a term of the civil law, and borrowed by the
English from that code. They borrowed from Italy both the name
and the purpose of the law; and also the first objects to which
the law was applicable. The English were borrowers of every thing
connected with this code; and it is absurd in us to borrow from a
borrower--to copy from a copyist--when we have the original lender
and the original text before us. _Bancus_ and _ruptus_ signifies a
broken bench; and the word _broken_ is not metaphorical but literal,
and is descriptive of the ancient method of cashiering an insolvent
or fraudulent banker, by turning him out of the exchange or market
place, and breaking the table bench to pieces on which he kept his
money and transacted his business. The term _bankrupt_, then, in the
civil law from which the English borrowed it, not only applied to
bankers, but was confined to them; and it is preposterous in us to
limit ourselves to an English definition of a civil law term.
Upon this exposition of our own constitution, and of the civil law
derivation of this term _bankrupt_, I submit that the Congress
of the United States is not limited to the English judicial or
statutory acceptation of the term; and so I finish the first point
which I took in the argument. The next point is more comprehensive,
and makes a direct issue with the proposition of the senator from
Massachusetts, [Mr. WEBSTER.] His proposition is, that we must
confine our bankrupt legislation to the usual objects, the usual
subjects, and the usual purposes of bankrupt laws in England; and
that currency (meaning paper money and shin-plasters of course), and
banks, and banking, are not within the scope of that legislation.
I take issue, sir, upon all these points, and am ready to go with
the senator to England, and to contest them, one by one, on the
evidences of English history, of English statute law, and of English
judicial decision. I say English; for, although the senator did not
mention England, yet he could mean nothing else, in his reference to
the usual objects, usual subjects, and usual purposes of bankrupt
laws. He could mean nothing else. He must mean the English examples
and the English practice, or nothing; and he is not a person to
speak, and mean nothing.
Public-domain text, read in full here on John Shaqi.
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