Remarks Upon the Necessity and Effect of General Bankrupt Law
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| Stand: | 2015-08-04 03:50:33 |
Produktbeschreibung
Excerpt from Remarks Upon the Necessity and Effect of General Bankrupt Law: Including Corporations In all civilized countries, where trade, exchange, commerce, and manufactures have been carried on to any extent, some form of bankruptcy has been considered necessary, and has been adopted. In England the law, from time to time, has undergone changes, but has always been retained in some form; and even in this country the different States have found it necessary to adopt for their own citizens some form of an insolvent or bankrupt law, and the wise framers of our constitution reserve therein the expressed right for the general government to enact a general bankrupt law; and twice since the adoption of the constitution, Congress has found it necessary, growing out of an uncommon financial disaster, to pass a temporary relief law, which was called a bankrupt law; but they were so limited in their operation, that they were not only repealed, but prejudiced the country against any law of the kind. The past year the country has been called upon, for some cause of which I shall speak hereafter, to pass through one of those frequently occurring crises in trade, which destroy confidence, annihilate credit, and carry with them more or less, in proportion to their severity, personal and social ruin. Such a state of things again has awoke the thinking classes, not only as to the cause, but as to the remedy. The causes of these inflations of credit, and subsequent depressions, have been the subject of much discussion, and have been attributed to almost every thing: - bank expansions and contractions, an unsettled state of the currency, extravagance, overtrading, doing business on borrowed capital, railroads, and many other things; but it is evident that no one thing can strictly be named as the cause. Under our system of government, trade and commerce, as it has been, and is, undoubtedly, all these things conspire to produce the result. About the Publisher Forgotten Books publishes hundreds of thousands of rare and classic books. Find more at www.forgottenbooks.com This book is a reproduction of an important historical work. Forgotten Books uses state-of-the-art technology to digitally reconstruct the work, preserving the original format whilst repairing imperfections present in the aged copy. In rare cases, an imperfection in the original, such as a blemish or missing page, may be replicated in our edition. We do, however, repair the vast majority of imperfections successfully; any imperfections that remain are intentionally left to preserve the state of such historical works.
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